In its most recent residential barometer, the Professional Association of Real Estate Brokers of Quebec (APCIQ) reports that the median price of a single-family home in the Quebec agglomeration reached $376,000 in the third quarter of 2024, an increase of 8% over the last twelve months.
The median price in Lévis has also increased by 8% over the past year to reach $350,000.
For its part, Royal LePage indicates in its report that the median price of a single-family residence is $413,400 in the greater Quebec region, an increase of 11 percentage points in one year.
For information, the median price divides all transactions into two equal parts: 50% of sales were made at a lower price and the other 50% at a higher price. A median price is often smaller than an average price.
The very expensive Upper Town
In Quebec, the APCIQ suggests that the median price of a house by sector varies between $350,000 and $717,000.
Not surprisingly, the most expensive single-family properties are found in Upper Town, which includes the neighborhoods perched on Cap Diamant.
Next comes Sainte-Foy — Sillery with a median price of $510,200 followed by Saint-Augustin — Cap-Rouge with a house at $505,000.
The more affordable corners of Quebec are located to the north of the city, in the sectors of La Haute-Saint-Charles and L’Ancienne-Lorette – Aéroport – Val-Bélair. Both have properties with a median price of $350,000.
This is still an increase of 8% compared to last year for La Haute-Saint-Charles and an increase of 5% for L’Ancienne-Lorette – Aéroport – Val-Bélair.
Less disparity in Lévis
Still according to the ACPIQ report, on the other side of the river, in Lévis, the median prices by sector are much less disparate and expensive.
To the west of the city and in the nearby municipalities of Lotbinière, a single-family home costs $360,000. It’s a little more expensive than single-family properties in Les Chutes-de-la-Chaudière-Est ($345,000) and in Ancien Lévis ($350,000).
Here too, prices only increase every year. On the South Shore, the median price has increased by 46% over the past five years.
Idem for condos and plexes
It is not only the median price of houses that is soaring, but also that of condominiums and plexes of two to five units.
In the capital, the median cost of a condo has increased by 13% since last year to reach $270,000. A building with several doors in Quebec has a median price of $434,500, which represents an increase of 7% compared to the third quarter of 2023.
The situation is a little rosier for buyers in Lévis. A condo sells for $235,000 and a plex for $376,500.
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