The city saw its busiest market for the month since 2021
New data from the Quebec Professional Association of Real Estate Brokers (QPAREB) has revealed that Montreal-area home sales surged 9.7% last month from a year earlier, reaching their highest July level since 2021. A total of 3,731 properties changed hands, up from 3,400 in July 2024.
The increase comes as market conditions in Montreal remain comparatively resilient despite broader national headwinds. RBC Economics noted that while some major Canadian markets, including Toronto and Vancouver, faced declining prices and slower demand in the spring, Montreal’s transactional pace has held steady since February, sustained by historically low inventory levels.
Listings increase, but supply remains tight
New listings in the region totalled 5,148 in July, up 9.2% year over year, while active listings edged up 2% to 17,395. Despite the increase, inventory remains well below pre-pandemic norms, keeping sellers in a favourable negotiating position.
QPAREB said overbidding persisted last month, although the pace of price growth appears to be easing. The median price for plexes climbed 7.9% to $815,000, single-family homes rose 6.8% to $625,000, and condominiums increased 3.4% to $425,000.
Despite economic volatility, Montreal’s real estate market “experienced a very active month of July and stands out positively compared to certain Canadian markets,” noted Hélène Bégin, QPAREB’s senior economist.
According to Bégin, price appreciation in Montreal contrasts with declines seen in markets such as Vancouver, where active listings are at a decade high, and Toronto, where condo prices are down more than 8% year over year.
National context shows diverging trends
RBC’s July housing market update highlighted that prices in Quebec and several Prairie and Atlantic markets remain supported by tight supply-demand conditions, while affordability challenges and elevated inventory have weighed on values in parts of Ontario and British Columbia.
In Montreal, the sales-to-new listings ratio remains in seller’s market territory, underscoring the city’s stronger footing compared with other major urban centres. RBC expects modest price gains to continue, although the pace could moderate if affordability improvements stall.
Outlook
Montreal’s stability contrasts sharply with more volatile markets. Analysts suggest Montreal’s housing market could maintain its current momentum through the late summer and early fall, particularly if economic sentiment continues to recover.
However, broader factors such as interest rate movements, tariff impacts, and wage growth will influence buyer activity into 2026.
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