Montreal Housing Market Report
- The average home sold price reached $674,335 in November 2025, for a 5% annual increase.
- Montreal home sales were down 9.1% year over year to 3,542 in November 2025, and new listings were down by 0.5% to 4,798 in the same time period.
- Single-family home median price increased by 5.8% year-over-year to $635k.
- Condo median price remained unchanged year-over-year at $425k.
- Plex median price increased by 11% year-over-year to $855k.
- December 11, 2025 Update: Today’s Lowest mortgage rates in Montreal is 3.54% for 5-Year Variable.
Montreal Housing Market Overview
Market Snapshot (November 2025)
Average Home Price | $674,335 | -1.9% 1-Month Change | +5% 1-Year Change |
Note: The MLS HPI benchmark price represents the value of a ‘typical’ home in the area.
In November 2025, Montreal’s housing market witnessed a year-over-year dip in sales for the first time in nearly two years. Despite this decline, the market remains resilient, with indicators such as the SLNR and months of inventory still pointing toward seller’s market conditions. The sales also remained in line with the 10-year average for the month of November.
The average price declined on a monthly basis, but continued the year-over-year upward trend. Median prices of single-family homes and plexes reached a new all-time high this month. Despite the minor seasonal setbacks, Montreal has solidified its position as one of Canada’s most resilient and competitive housing markets as we enter the end of 2025.
Home Prices
After rising for four consecutive months and reaching a new peak in October 2025, the average home sold price in Montreal’s housing market declined on a monthly basis in November 2025, reaching $674,335 in November 2025. This represents a significant increase of 5% compared to last November's average price and a 1.9% decrease from the previous month. Examining longer-term trends, the average price of a home in Montreal is now approximately 35% higher than it was five years ago.
Sales and Inventory
3,542 homes were sold in Montreal's housing market during November 2025, reflecting a 9.1% decrease in sales compared to November 2024 and a 10.7% decline compared to the previous month. There were 4,798 new listings on Montreal’s housing market in November 2025, marking a 0.5% year-over-year decrease and a 27% month-over-month decline. Meanwhile, there were 18,205 active listings at the end of November 2025, representing a 7.4% year-over-year increase and a 4.2% decline from the previous month.
The sales-to-new listings ratio (SNLR) was 74% in November 2025, placing the market in seller’s market territory based on the SNLR. An SNLR of over 60% typically signals that market conditions are favourable for sellers, with more buyers competing for the same properties. Meanwhile, SNLR of 40%-60% typically indicates that market conditions are balanced, favouring neither buyers nor sellers. By this measure, Montreal has consistently favoured sellers for most months since the start of 2024.
The market had 4.6 months of inventory, calculated as the total inventory divided by the average number of transactions over the past 12 months, as defined by the QPAREB (Quebec Professional Association of Real Estate Brokers). According to QPAREB, the market is considered a seller’s market when the months of inventory are under 8 months, a balanced market when it's between 8 and 10 months, and a buyer’s market when it's over 10 months. By this definition, the market is currently a seller’s market.
Property Types’ Performance
Looking at the median prices and sales of Montreal’s property types.
- The median price of a single-family home in Montreal reached $635,000 in November 2025, representing a 5.8% year-over-year increase and a 0.5% increase from the previous month.
- The median price for condominiums reached $425,000 in November 2025, remaining unchanged year-over-year and decreasing by 0.9% from the previous month.
- The median price for plexes reached $855,000 in November 2025, up 11% year-over-year and representing a 0.6% month-over-month increase.
Comparison with Other Cities
The average home price in Montreal increased by 5% year-over-year. The average home price in Calgary's housing market remained unchanged from last year. Meanwhile, Toronto’s housing market experienced a 6% decline in the average home price, while Vancouver's housing market saw a 3.2% decrease in average prices.
On the other hand, transactions in all four cities dropped on an annual basis. Montreal home sales dropped by 9.1%, compared to November last year. Meanwhile, transactions in Toronto, Vancouver and Calgary declined by 14.7%, 15.4% and 13.6%, respectively.
Reasoning
Mortgage rates and the influx of migrants since the end of the pandemic have been significant influences on Montreal's housing market activity. After cutting its policy rate by 2.75% since June last year, the Bank of Canada (BoC) has now reached 2.25%. Due to the cuts, the policy rate is much lower than it was in 2023, which has led to a decline in Montreal mortgage rates and Quebec mortgage rates, making borrowing cheaper than two years ago. This has supported home sales in Montreal over the past year.
Meanwhile, Montreal has a more affordable housing market than Toronto and Vancouver, despite being Canada’s second-largest city in terms of population and a major financial hub. Despite this month’s dip, Montreal has attracted many buyers, magnifying sales activity in Montreal’s housing market over the past few months.
Looking Forward
The interest rate forecast suggests that the BoC is likely to hold its policy rate at 2.25% for the next few months. Meanwhile, the U.S. import tariffs and reciprocal tariffs imposed by Canada are another factor that may affect the direction of the BoC’s policy rates in the near future. The impact of the tariffs has already been felt in the Canadian job market and may also have inflationary effects on certain consumer categories. This will impact both policymaking and affordability for many Canadian families going forward. The uncertainty surrounding the same might also deter some homebuyers from making a purchase.
A further decline in mortgage rates might also attract more buyers to Montreal’s housing market, but the broader economic conditions may also prompt more sellers to list their homes on the market. Those looking to purchase a home in Montreal may consider withdrawing from their TFSA or RRSP to make a down payment on the new home.
Note: The average home price of $674,335 is calculated by dividing total sales volume by the number of transactions across all property types. For individual property categories (e.g., single-family homes, condos, plexes), median prices are used to better reflect typical sale values and reduce the impact of outliers. In November 2025, Montreal recorded a total residential sales volume of $2,388,495,175 across 3,542 transactions, resulting in the average price above.
Home Prices in Montreal
Montreal Housing Market Statistics for All Property Types in November 2025
Average Sold Price and MLS HPI Benchmark Price
Total Transactions
Property Type Distribution
Market Overview for Single-Family Homes in November 2025
Median Sold Price
Transactions
Market Overview for Condominiums in November 2025
Median Sold Price
Transactions
Market Overview for Plexes in November 2025
Median Sold Price
Transactions
Glossary and Definitions
MLS® HPI: The MLS® Home Price Index (HPI) is an index by the Canadian Real Estate Association (CREA) that tracks the prices of homes in a neighborhood. It allows Canadians to quickly compare home prices across Canada and between periods of time without having to account for specific features of a property. Unlike market prices, which can fluctuate from month to month based on seasonal dynamics, the HPI provides a stable view and tracks trends across a longer period of time. The HPI is reviewed every year in May to adjust for changes in the real estate marketplace.
MLS® HPI Benchmark Price: The MLS® Home Price Index (HPI) Benchmark Price is the HPI translated into a real-world price number.
Strata Insurance: Strata insurance is insurance used by a strata like a condominium to cover damages to common areas and assets and liability to the strata. It can also include fixtures built or installed as part of the original construction of each unit, even though these may not be common structures. The insurance can cover:
- Buildings and structures associated with the strata including common areas such as the roof, parking garages, driveways, gyms, pools, etc.
- Liability for any property damage or bodily injury suffered on strata property
- Any fixtures that are part of the "standard unit" or original construction of each unit
Strata insurance does not usually include personal items and appliances that are part of a condo unit. It also does not cover the damages made by individual unit owners, such as in the case of water damage caused by a unit owner. These are usually covered by personal condo insurance.
Property types
Detached home: A detached home is your standard single-family home. It is a residential building that stands alone and is separately titled or legally a single unit.
Semi-detached home: A semi-detached home is similar to a detached home, except it shares a wall with another home. This pair of homes must make up an independent building and each should be separately titled or legally two separate units. There can only be two homes in a semi-detached building.
Townhouses: A townhouse is the middle between a detached/semi-detached home and a condo apartment. Like detached and semi-detached homes, they are often single-family units that have their own land and may be attached to other units. However, like condo apartments, they typically have to pay co-ownership fees for maintenance and may share some common features with their neighbors.
Condo apartment: This category includes all apartments and condominiums. These are complexes of residential units with common areas such as hallways, parking lots, stairwells, etc. They can be low-rise, mid-rise, or high-rise buildings. Unlike townhouses, there are no parts of the lot (the land of the building) where access is reserved for only one owner or occupant. There can be privately owned units and spaces inside the building.
Plexes are multi-story buildings with two to four individual units, usually one on each floor. They are a mainstay in Montreal and other cities in Quebec. Each unit is usually individually accessible via an external entrance with higher floors connected by staircases.
Property Classes
Freeholds: A freehold is any property where the owner owns both the house and the land it is built on. Common freehold property types include: detached, semi-detached, some townhouses, and farmland.
Condominiums: A condominium or condo is any property where the owner owns the home (or unit) but shares ownership of the land and other improvements with a condominium corporation. Common condominium property types include condo apartments and some townhouses.
Leasehold: Leasehold describes the situation where different entities own the land and the structure built on the land. Owners of the buildings have leased the land and pay rent to their landlord while owning the building on the land.
Housing Markets Across Canada
Data sourced from the Quebec Professional Association of Real Estate Brokers (APCIQ) and the Canadian Real Estate Association (CREA). Any analysis or commentary is the opinion of the analysts at WOWA.ca and should not be construed as investment advice. Please consult a licensed real estate professional before making a real estate investment decision. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
Disclaimer:
- Any analysis or commentary reflects the opinions of WOWA.ca analysts and should not be considered financial advice. Please consult a licensed professional before making any decisions.
- The calculators and content on this page are for general information only. WOWA does not guarantee the accuracy and is not responsible for any consequences of using the calculator.
- Financial institutions and brokerages may compensate us for connecting customers to them through payments for advertisements, clicks, and leads.
- Interest rates are sourced from financial institutions' websites or provided to us directly. Real estate data is sourced from the Canadian Real Estate Association (CREA) and regional boards' websites and documents.
- The trademarks MLS®, Multiple Listing Service®, and associated logos are owned by CREA and identify services provided by its members.