Montreal and Quebec City posted double-digit sales gains, defying historic trends
Montreal’s residential real estate market saw a sharp uptick in September, with sales across the census metropolitan area (CMA) rising 11% year-over-year to 3,520 transactions, according to the Quebec Professional Association of Real Estate Brokers (QPAREB).
“This result is well above historical benchmarks, with approximately 620 more transactions than the average for September over the past 25 years,” the association said.
The momentum was not limited to Montreal. Province-wide, Quebec recorded an 11% increase in residential sales, reaching 7,645 deals. Quebec City also posted a 7% annual gain, with 819 sales in September. New listings in Montreal jumped 17%, while active listings climbed 8%, a sign that sellers are returning to the market after a period of hesitation.
Single-family and condo prices continue to climb
The median price for a single-family home in Montreal CMA reached $632,500, up 7% from last year. Condominiums also saw gains, with the median price rising 4% to $430,000.
In Quebec City, the median single-family home price rose 13% to $427,750, while condos climbed 16% to $315,000.
The average days on market for Montreal homes dropped to 40, down from 50 a year ago, indicating properties are selling faster.
Regional breakdown reveals broad-based strength
The surge in activity was broad-based. Laval posted a 14% increase in sales, while the North Shore of Montreal was up 8%. The South Shore of Montreal saw a 5% rise.
In Quebec City, the agglomeration posted a 6% uptick, and the South Shore rose 21%.
Analysts pointed to several factors fueling the rebound, such as pent-up demand, easing mortgage rate pressures, and a gradual return of inventory.
Inventory recovery and affordability challenges
While the increase in listings offers some relief, affordability remains a concern. The province’s median home price is now $491,000, up 10% year-over-year.
In fact, the latest report from the Parliamentary Budget Officer shows the gap between cities is growing, and many households are still feeling the financial strain. The PBO’s October 2025 update found that the national gap between average house prices and what a typical household can afford shrank from 80% in September 2023 to 34% in August 2025.
“While some cities are seeing improvements in affordability, others are becoming increasingly out of reach for the average household,” Jason Jacques, interim PBO, said.
Interest rates have played a decisive role. The Bank of Canada’s policy rate, which peaked at 5.0% in mid-2023, dropped to 2.75% by March 2025, easing mortgage costs.
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