According to the most recent results of the study on the price of houses and the forecasts of the Royal Lepage market, the average price of property in Quebec increased by 7.6% compared to the same period in 2024, stood at $ 598,300. In Greater Montreal, the average price of a house was $ 625,000 in the first quarter of 2025, an increase of 1.9 % compared to the last quarter of 2024.
Despite this increase and the uncertain economic context due to the arrival of Donald Trump in the White House, transactions continued for the first months of the year.
“Although we have observed a certain caution among households, the demand remained strong in the first quarter, as evidenced by the significant price increase in a majority of markets in the province,” said Dominic St-Pierre, executive vice-president, business development at Royal Lepage.
The recent reductions in the key rate participated in the enthusiasm of the request in the first quarter of 2025. This request also exerted pressure on prices, notes Royal Lepage.
However, recent signs of an economic slowdown began to appear due to the tariff war. For the past few weeks, there has been a decline in stock markets, a rebound in inflation and losses in certain sectors.
A recession that will not affect the market
Several economists have also sounded alarm about a potential recession related to economic slowdown due to the American trade war.
But if a recession was to arise, Royal Lepage provides for that it will be moderate and short -lived.
“The Canadian banking system is solid, and the protective mechanisms in place limit the most severe effects on households,” said St-Pierre
He adds that “basic housing needs will continue to support the market, even in a more uncertain context”.
Note also that according to the most recent data from the Canadian Mortgage and Housing Company (SCHL), the mortgage rate in suffering was $ 0.18 at the end of 2024, below the national average of 0.21%. Quebec also holds the second lowest rate in Canada.
Optimistic, but prudent Quebecers
Quebecers remain confident vis-à-vis the Canadian economy despite recent setbacks of stock markets related to President Trump’s pricing boomerang.
According to a new Royal Lepage poll, led by Burson, 65% of respondents said they were confident towards the country’s economy.
However, 48% of respondents said they had chosen to postpone their project to buy a property this year due to the trade conflict with the United States.
To see too | What to expect from the Real estate market in Quebec in 2025?
Royal Lepage says he still maintains his forecasts for 2025. Let us recall that in December last December, the company anticipated an increase of 7% of the prices of houses for the year 2025. Royal Lepage estimates that most of the activities will be concentrated in the first motion of the year.
“The effects of trade war with the United States will have variable effects from one region to another. However, Quebec can count on a diversified economy, which should alleviate collateral damage to jobs, unlike other Canadian provinces, “said St-Pierre.
Price of properties by cities in Quebec in the first quarter of 2025:
- Montréal: unifamiliales $ 715,700; condominiums $ 490,500
- Québec: Unifamiliales $ 457,600, condominiums $ 270,000; Small properties $ 440,000
- Gauge: Unifamiliales $ 575,000, condominiums $ 323,000
- Sherbrooke: Unifamiliales $ 437 100
- Trois-Rivières: Unifamiliales $ 432,700
