Price gains persist despite below-average sales activity
Montreal-area home sales rose 2.2% year over year in March, snapping a streak of four consecutive monthly declines, according to Quebec’s real estate board.
The Quebec Professional Association of Real Estate Brokers (QPAREB) reported that 5,045 residential properties changed hands in the Montreal census metropolitan area (CMA) during the month, up from 4,936 in March 2025.
Despite the uptick, the board noted the “modest increase” still lagged slightly behind the average sales volume for March over the past decade.
Home prices climbed across all property categories. The median price of a single-family home led gains, rising 6.9% to $652,250. The median price of a plex increased 5.7% year over year to $880,000, while the median price of a condominium rose 1.2% to $425,000.
On the supply side, new listings in March totalled 8,574 – up 11.2 % year over year – while total inventory grew 12.7% to 19,952 units for sale, The Canadian Press reported.
Slowdown lingered in early 2026
The March rebound follows a turbulent stretch for the Montreal market. Sales in November 2025 fell 8% from the same month in 2024, with 3,542 residential transactions recorded in the Montreal CMA.
QPAREB market analysis director Charles Brant attributed part of that slowdown to affordability pressures. “Property prices in Montreal, particularly on the island, have reached levels that far exceed the financial capacity of many buyers,” Brant said, adding that those conditions were nonetheless allowing inventory to gradually rebuild and helping rebalance the market.
The downturn persisted into the new year, with 2,364 residential transactions completed in the Montreal CMA in January 2026 – a 15% decline compared with January 2025.
QPAREB assistant director and senior economist Camille Laberge pointed to stabilizing borrowing costs as a potential turning point.
Despite dips seen in the past few months, the broader provincial picture remained strong. Quebec recorded 97,214 residential sales in 2025, an 8% increase over 2024 and the third-best year on record after 2020 and 2021.
Montreal also continued to distinguish itself from other major Canadian markets. Royal LePage forecast in December 2025 that the Greater Montreal Area would see prices rise 5% in 2026, contrasting with expected declines of 4.5% in Greater Toronto and 3.5% in Greater Vancouver.
The firm’s executive vice-president of business development, Dominic St-Pierre, said the province’s relative affordability was a key factor. “Montréal’s relative affordability compared with other major Canadian cities, combined with a balanced supply of condominiums, makes it a particularly attractive market,” St-Pierre said.
