Montreal Housing Market Report
- The average home sold price reached $674,717 in December 2025, for an 8.7% annual increase.
- Montreal home sales were down 11.3% year over year to 2,831 in December 2025, and new listings were down by 5% to 2,529 in the same time period.
- Single-family home median price increased by 7.8% year-over-year to $625k.
- Condo median price increased by 1.3% year-over-year to $425k.
- Plex median price increased by 4.5% year-over-year to $830k.
- January 21, 2026 Update: Today’s Lowest mortgage rates in Montreal is 3.54% for 5-Year Variable.
Montreal Housing Market Overview
Market Snapshot (December 2025)
Average Home Price | $674,717 | +0.1% 1-Month Change | +8.7% 1-Year Change |
Note: The MLS HPI benchmark price represents the value of a ‘typical’ home in the area.
In December 2025, home sales in Montreal declined on a year-over-year basis. Despite this moderation, market conditions remain strong: indicators such as the sales-to-new-listings ratio (SNLR) and months of inventory continue to signal a seller’s market, while home prices have remained stable. Although seasonal factors contributed to a modest slowdown, Montreal has reinforced its position as one of Canada’s most resilient and competitive housing markets heading into the end of 2025.
Overall, 2025 marked a notable acceleration in housing market activity relative to 2024, with gains across home prices, sales volumes, and new listings.
Home Prices
The average home sold price in Montreal’s housing market remained almost unchanged on a monthly basis, reaching $674,717 in December 2025. This represents a significant increase of 8.7% compared to last December's average price and a 0.1% increase from the previous month. Examining longer-term trends, the average price of a home in Montreal is now approximately 39% higher than it was five years ago.
Sales and Inventory
2,831 homes were sold in Montreal's housing market during December 2025, reflecting a 11.3% decrease in sales compared to December 2024 and a 20% decline compared to the previous month. There were 2,529 new listings on Montreal’s housing market in December 2025, marking a 5% year-over-year decrease and a 47% month-over-month decline. Meanwhile, there were 15,532 active listings at the end of December 2025, representing a 12% year-over-year increase and a 14.7% decline from the previous month.
The sales-to-new listings ratio (SNLR) was 112% in December 2025, placing the market in deep 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. However, data from the end of the year is usually skewed due to a dip in market activity, especially on the sellers' side. Therefore, we should also consider other measures to weigh market conditions.
Another important indicator of market conditions is the months of inventory or months of supply. The market had 3.9 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 $625,000 in December 2025, representing a 7.8% year-over-year increase and a 1.6% decrease from the previous month.
- The median price for condominiums reached $425,000 in December 2025, increasing by 1.3% year-over-year and remaining unchanged from the previous month.
- The median price for plexes reached $830,000 in December 2025, up 4.5% year-over-year and representing a 2.9% month-over-month decrease.
Comparison with Other Cities
The average home price in Montreal increased by 8.7% year-over-year. The average home price in Calgary's housing market increased by 0.3% from last year. Meanwhile, Toronto’s housing market experienced a 5.7% decline in the average home price, while Vancouver's housing market saw a 6.8% decrease in average prices.
On the other hand, transactions in Montreal dropped by 11.3%, compared to December last year. Meanwhile, transactions in Vancouver and Calgary declined by 12.9% and 14.8%, respectively. However, sales in Toronto increased by 10.1% in the same period.
2025 Summary
Unlike other major cities in Canada, such as Toronto and Vancouver, which saw home prices decline, the average home price in Montreal continued to grow throughout 2025, with the all-time peak reached in October 2025.
The average home price in 2025 was $653,958, compared with $609,992 in 2024, representing a 7.2% increase. Sales echoed a similar trend with the 47,019 sales in 2025 representing a 7.7% increase over the 43,640 sales in 2024. The annual sales this year were the highest since 2021, when sales reached 54,439.
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. Although a recent slowdown in sales has been observed, Montreal continues to attract many buyers, resulting in an overall increase in sales activity in the Montreal housing market over the past few years.
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, broader economic conditions, such as U.S. import tariffs, labour market conditions, and commodity prices, are another factor that may influence 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.
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 $674,717 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 December 2025, Montreal recorded a total residential sales volume of $1,910,124,416 across 2,831 transactions, resulting in the average price above.
Home Prices in Montreal
Montreal Housing Market Statistics for All Property Types in December 2025
Average Sold Price and MLS HPI Benchmark Price
Total Transactions
Property Type Distribution
Market Overview for Single-Family Homes in December 2025
Median Sold Price
Transactions
Market Overview for Condominiums in December 2025
Median Sold Price
Transactions
Market Overview for Plexes in December 2025
Median Sold Price
Transactions
Glossary and Definitions
MLS® Home Price Index (HPI): Developed by the Canadian Real Estate Association (CREA), the MLS® HPI is the most advanced tool for tracking price trends in the Canadian housing market. Rather than using simple average prices, which can be skewed by the mix of homes sold in a given month, the HPI tracks the value of a "Benchmark Home"—a property with typical attributes for its specific neighborhood. This allows for an accurate "apples-to-apples" comparison of home values across different regions and time periods, independent of a property's specific features or seasonal volatility. To ensure the index remains relevant, CREA performs an annual review every May to account for evolving market dynamics.
MLS® HPI Benchmark Price: This is the dollar value assigned to a "typical" home in a specific neighborhood. While the HPI itself is an index number used to track trends, the Benchmark Price translates that data into a real-world dollar figure, representing what a standard home with average features (like square footage, rooms, and lot size) would likely sell for in today's market.
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.