Quebec’s Residential Market: Q2 2025 Maintains Strength

Quebec’s housing market continued to show resilience through Q2 2025, with sales and prices holding firm. While some other Canadian markets are contending with slower sales and softening prices, Quebec remains one of the provinces where sellers still hold a meaningful advantage, along with prairie and Atlantic provinces; data from Edge Realty Analytics highlights that Quebec has so far avoided the deeper corrections seen in other markets like British Columbia’s and Ontario’s.

Sales 

Home sales in Quebec slipped only slightly on a quarter-over-quarter (q/q) basis, down 0.4% in Q2 2025. Compared to a year earlier, however, activity remained robust with an 11.9% year-over-year (y/y) increase. This stands in sharp contrast to British Columbia, where sales fell 7.1% q/q and 8.9% y/y in Q2, and Ontario, which posted a modest q/q increase of 2.1% but still saw sales down 7.1% y/y. Quebec’s ability to sustain stronger year-over-year growth suggests a relative stability of demand in its housing market.

Listings and Inventory 

Quebec also saw continued growth in supply. New listings rose 2.3% q/q and 11.3% y/y in Q2, extending the upward trend from earlier in the year. Active listings increased 4.6% q/q and 0.6% y/y, reflecting an increased flow of properties without appearing to oversaturate the market. By comparison, Ontario’s active listings rose much more sharply, up 17.4% y/y. 

Quebec’s market conditions remain supportive of sellers. Months of inventory held steady at 4.5 in both Q1 and Q2, a much tighter balance than British Columbia’s 7.1 months or Ontario’s 5.0 months. The sales-to-new listings ratio, though edging down to 66.0% in Q2, continued to reflect more of a seller’s market, in contrast to Ontario and British Columbia.

Prices

Unlike many provinces where home prices have come under pressure, Quebec’s Home Price Index (HPI) recorded notable gains. Prices increased 2.6% q/q in Q2 2025 and were up 9.1% y/y. This performance contrasts with Ontario, where prices fell 2.8% q/q and 6.9% y/y, and British Columbia, where values also declined, although more modestly, by 0.2% q/q and 2.0% y/y. Quebec’s ability to maintain steady appreciation may suggests that affordability, when compared to the country’s two most expensive markets, is helping sustain demand.

Overall, sales and prices remain strong, inventory levels are balanced, and construction activity is rising, providing a steadier performance that reflects both relative affordability and more balanced supply-demand conditions.