The real estate market in Quebec has entered a phase of stabilization during the third quarter of 2024. Despite moderate price increases in major regions like Montreal and Quebec City, activity remains uneven due to the limited inventory.
Many Quebec homebuyers have adopted a wait-and-see approach, anticipating further cuts in interest rates by the Bank of Canada. This strategy aims to enhance affordability, potentially triggering a surge in demand at the beginning of 2025, which could drive real estate prices upward.
In Montreal, the average property price rose by 1% from the previous quarter, reaching $605,400. However, buyers remain cautious, debating whether to purchase now or wait for better mortgage rates.
Quebec City saw the highest year-over-year price growth, with a 10.5% increase compared to the third quarter of 2023. Local and external demand continues to fuel this growth, showing resilience even amid broader economic concerns.
In Gatineau and Sherbrooke, demand remains moderate, but buyers are keenly awaiting upcoming announcements of interest rate reductions. Activity is expected to pick up in 2025, with moderate price growth potential.
The start of 2025 could bring renewed momentum to the Quebec real estate market as interest rates decrease and property inventory grows. This could create upward pressure on prices, particularly in cities like Trois-Rivières, where improved affordability is attracting buyers.
Conclusion
The stabilization of real estate prices in Quebec in Q3 2024 sets the stage for a dynamic start to 2025. If interest rate cuts materialize, the market could see a surge in activity and prices early in the year.
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Brossard Real Estate Market Update The Brossard real estate market remains active in 2026, but it has become more strategic. Buyers are still present, well-positioned properties continue to attract attention, and sellers generally remain in a strong position. However, pricing, presentation and marketing strategy now matter more than ever. Brossard remains one of the most
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