Other major cities are seeing sales slide – but Montreal posted strong numbers for April
Home sales in the Montreal area rose in April, bucking the trend seen in other major Canadian cities where real estate activity has slowed amid ongoing economic uncertainty.
According to the Quebec Professional Association of Real Estate Brokers (QPAREB), 5,126 residential properties were sold in the region last month. That marks a 10.4% increase from April 2024, when 4,645 homes changed hands.
Charles Brant, the board’s director of market analysis, said the uptick in sales is largely due to recently relaxed mortgage insurance regulations and a quicker-than-expected drop in interest rates over the past six months. This momentum came despite the Bank of Canada’s decision to hold its benchmark interest rate steady last month.
Price growth accompanied the surge in sales. The median price across all property types rose year-over-year, with the largest increase seen in plexes—multi-unit residential buildings—which climbed 10% to $830,500. The median price of a single-family home rose 8.7% to $625,000, while condominiums saw a 6.1% gain to reach $424,500.
Market supply also expanded. There were 7,721 new residential listings in the Montreal area in April, a 12.1% increase compared with the same month last year. Active listings totalled 18,731, up 2.3%.
The Montreal market’s performance stands in contrast to the softer activity seen in other urban centres across Canada, where economic uncertainty and affordability concerns continue to weigh on buyer confidence.
In the Greater Toronto Area (GTA), home sales in April increased by 1.8% from March to 4,267 units, but remained 23.3% lower than in April 2024. The average selling price declined 0.7% month-over-month to $1,065,687, marking the fifth monthly decrease in the past six months. Market uncertainties, including trade tensions between Canada and the United States, have prompted caution among homebuyers, according to the Toronto Regional Real Estate Board.
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