In August, sales in the Quebec City CMA increased by 4% to 643 transactions, with the Northern Periphery seeing a 19% rise. The market saw its second-highest number of sales for August since the pandemic peak, with plexes jumping 61% and 82 small income properties sold. Single-family home sales grew by 6%, while condo sales dropped by 14%, the first significant decline since May 2023. The shortage of properties for sale intensified, with 1,743 properties on the market – down 23% from the prior year. Sellers benefited from historical market conditions, leading to overbidding, market overheating, and a 25-day reduction in property sell time. The median price for single-family homes increased by 18% to $461,500 - the ninth consecutive month of over 15% price growth. Condo and plex median prices also rose by 13%. The market continues to favor sellers due to limited inventory and high demand.