Looking to buy a home? You probably have an idea of where you want to settle down. However, your search may be complicated by the high prices on the market.
Before you set foot in the city of your dreams, check to see if it's one of the most expensive places to buy real estate in Quebec. We've compiled a list for you based on the province's statistical reference: the APCIQ market analysis service.
Without further ado, here are the 10 most expensive cities to buy real estate in Quebec in 2024.
Photo: Wikimedia Commons (Orbitale)
1. Saint-Sauveur
- Median single-family home price in 2023: $545,000 (+3%)
- Minimum down payment (5%): $27,250
- The Saint-Sauveur area includes: Saint-Sauveur, Piedmont, Prévost, Sainte-Anne-des-Lacs, Morin-Heights, Saint-Adolphe-d'Howard.
- Population: 41,112
Located in the Laurentians, the urban center of Saint-Sauveur is a tourist destination close to the metropolis. It's popular with skiers and snowboarders. This makes it the most expensive city in Quebec.
Enjoy the downtown area, a good meal in a restaurant, numerous hiking trails or a descent on a hybrid alpine roller coaster. Sommet Saint-Sauveur, in addition to welcoming winter sports enthusiasts during the cold season, is home to the largest water park in the mountains.
There's no doubt that Saint-Sauveur offers its citizens the perfect balance between urban heart and outdoor activities.
2. Montreal
- Median single-family home price in 2023: $541,000 (-2%)
- Minimum down payment (5%): $27,050
- The Montreal metropolitan area includes: the Island of Montreal, Laval, the North Shore, the South Shore, and Vaudreuil-Soulanges.
- Population: 2,038,845
To the surprise of many, Montreal comes in at number two on our list. Although generally perceived as the city with some of the most expensive real estate, the region has seen a slight price correction since the peak of the pandemic.
Montreal is Quebec's largest urban center. A colourful city, Montreal offers its citizens everything they need. With its many neighbourhoods and diverse atmospheres, Montreal is a multicultural, welcoming, dynamic and vibrant place.
With many tourist attractions and a public transportation system that is unique in Quebec, Montreal is a very attractive city.
Photo: Wikimedia Commons (Slava Ivanov)
3. Mont-Tremblant
- Median single-family home price in 2023: $535,000 (+9%)
- Minimum down payment (5%): $26,750
- The Mont-Tremblant area includes: Mont-Tremblant, Saint-Faustin-Lac-Carré and Lac-Tremblant-Nord.
- Population: 14,832
Located in the Laurentians, Mont-Tremblant is a unique vacation destination in Quebec.
As a tourist town, Mont-Tremblant offers its citizens a lively and vibrant atmosphere, summer and winter alike. With its vast network of hiking trails, its ski mountain and its breathtaking natural surroundings, Mont-Tremblant is an ideal destination,
Mont-Tremblant is one of the most expensive cities in which to buy a home.
Photo: Wikimedia Commons (Andrevruas)
4. Gatineau
- Median single-family home price in 2023: $440,000 (-2%)
- Minimum down payment (5%): $22,000
- The Gatineau metropolitan area (part of Quebec) includes: Gatineau, Bowmam, Cantley, Chelsea, Denholm, La Pêche, L'Ange-Gardien, Lochaber, Lochaber-Partie-Ouest, Mayo, Notre-Dame-de-la-Salette, Pontiac, Thurso, Val-des-Bois and Val-des-Monts.
- Population: 291,041
Located in the Outaouais region on the north bank of the river of the same name, Gatineau is a major urban center in Quebec.
Gatineau is at the heart of Canada's Capital Region, with Ottawa across the river. It's a vibrant, if expensive, city that hosts many cultural events, shows and festivals.
Despite its large downtown core, Gatineau is also home to forests, hills, hiking trails, cross-country ski trails and an extensive cycling network.
Photo: Wikimedia Commons (François Bianco)
5. Sainte-Adèle
- Median single-family home price in 2023: $437,000 (-3%)
- Minimum down payment (5%): $21,850
- The Sainte-Adèle area includes: Sainte-Adèle, Val-Morin, Val-David, Sainte-Marguerite-du-Lac-Masson, and Estérel.
- Population: 14,010
Sainte-Adèle is a town that shares its heart between nature and culture. Located in the Laurentians, it boasts over 200 km of hiking and mountain biking trails. Its remarkable natural attractions, combined with its strong cultural orientation, are sure to charm many visitors.
Cinema, visual arts, summer theatre... Its unique character is one of the reasons why it's so expensive to buy a home here.
Photo: Wikimedia Commons (Louis-Philippe Rouselle-Brosseau)
6. Granby
- Median single-family home price in 2023: $420,007 (+9%)
- Minimum down payment (5%): $21,000
- The Granby area includes: Granby, Bromont, Saint-Alphonse-de-Granby, Saint-Paul-d'Abbotsford and Roxton Pond.
- Population: 70,823
Best known as the home of Granby Zoo, the city offers its citizens a unique quality of life. Focusing on a rich cultural and community life, Granby is a lively urban center, constantly developing and full of interesting activities.
Located in the Eastern Townships, this city, despite its expensive real estate market, is a very interesting, dynamic and family-friendly place to live.
Photo: Wikimedia Commons (Veillg1)
7. Saint-Hyacinthe
- Median single-family home price in 2023: $410,000 (-2%)
- Minimum down payment (5%): $20,500
- The Saint-Hyacinthe area includes: Saint-Hyacinthe, Saint-Simon and Saint-Dominique.
- Population: 59,980
Located in the Montérégie region, the city of Saint-Hyacinthe is also known as the land of innovation. Home to several renowned educational institutions and programs, this student city is a pillar in many fields.
With a unique vision, Saint-Hyacinthe is a major player in research, sustainable development and the creation of green programs. As a food technopole, Saint-Hyacinthe is also Quebec's leading agricultural production zone.
All of these characteristics place Saint-Hyacinthe seventh on our list of the 10 most expensive cities in Quebec.
Photo: Wikimedia Commons (Pat2net)
8. Joliette
- Median single-family home price in 2023: $388,250 (+2%)
- Minimum down payment (5%): $19,413
- The Joliette area includes: Joliette, Saint-Paul, Notre-Dame-des-Prairies, and Saint-Charles-Borromée.
- Population: 49,439
Nature, work, culture and well-being: these are the values promoted by the town of Joliette.
Located in the Lanaudière region and ranked eighth on our list of the most expensive cities in Quebec, Joliette is a major player in the development of its region. Its unique culture, abundant nature and rich heritage make it a colourful urban center in the heart of the region.
Named the best city to retire in (2017), Joliette remains an attractive place for the whole family.
Photo: Wikimedia Commons (SamuelFreli)
9. Cowansville
- Median single-family home price in 2023: $380,000 (+3%)
- Minimum down payment (5%): $19,000
- Population: 15,057
Bordered by mountains to the east and plains to the west, Cowansville is located in the heart of the Brome-Missisquoi MRC. A dynamic town on a human scale, Cowansville offers its residents a wide range of services and activities throughout the year.
This charming community ranks ninth on our list of the most expensive cities in which to buy a home.
Photo: Wikimedia Commons (Normand Lemieux)
10. Sherbrooke
- Median single-family home price in 2023: $377,943 (+8%)
- Minimum down payment (5%): $18,897
- The Sherbrooke area includes: Brompton-Rock Forest-Saint-Élie-Deauville, Fleurimont, Lennoxville and Les Nations
- Population: 181,360
Tenth and last on our list is Sherbrooke, Quebec's 6th largest municipality. Located in the Eastern Townships at the confluence of the Magog and Saint-François rivers, it is a major cultural, economic and institutional centre.
A dynamic and prosperous city, Sherbrooke offers its citizens an excellent quality of life. In 2022, it was named one of Canada's best cities to live in!
Why median price instead of average price?
The prices quoted in this article are based on the median price of the properties sold, not their average price. Why do we do this? Simply because the median price is a value that "divides a series into two equal parts". In other words, it indicates that half of the transactions were at a lower price and the other half were at a higher price.
The median price thus provides a realistic view of the market, unlike the average price, which is influenced by disproportionate prices.
This explains why the median price of a single-family home in the province of Quebec was $416,500 in 2023, while the average price was $474,986.
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