Montreal Housing Market Report
- The average home sold price reached $674,943 in May 2026, increasing 2.6% annually and 1.1% monthly.
- Montreal home sales were down 7.4% year over year to 4,623 in May 2026, while new listings rose 1.5% to 7,564 over the same period.
- Single-family home median price increased by 3.2% year-over-year to $645k.
- Condo median price increased by 0.6% year-over-year to $430k.
- Plex median price increased by 6.1% year-over-year to $875k.
Montreal Housing Market Overview
Market Snapshot (May 2026)
Average Home Price | $674,943 | +1.1% 1-Month Change | +2.6% 1-Year Change |
Note: The MLS HPI benchmark price represents the value of a ‘typical’ home in the area.
Montreal's housing market showed signs of moderation in May 2026. While the average home price rose to $674,943, up 2.6% from a year earlier and 1.1% from April, sales activity continued to weaken, with transactions falling 7.4% year-over-year and 2.6% month-over-month. The combination of rising prices, declining sales, and growing inventory suggests that demand remains present but is no longer keeping pace with available supply. Buyers appear to have more negotiating power than they did a year ago, as active listings increased to 21,073. Despite softer market activity, home prices continue to trend upward, indicating that supply remains insufficient to put significant downward pressure on values across the Montreal region.
Home Prices
The average home sold price in Montreal's housing market was $674,943 in May 2026, 2.6% higher than May 2025's average price and 1.1% higher than April 2026.
Looking at a longer time horizon, the average price of a home in Montreal has increased by approximately 24% over the past five years.
Sales and Inventory
4,623 homes were sold in Montreal's housing market during May 2026. Sales decreased 7.4% compared to May 2025 and were down 2.6% compared to the previous month.
There were 7,564 new listings on Montreal's housing market in May 2026, marking a 1.5% year-over-year increase and an 8.2% month-over-month decrease. Meanwhile, the 21,073 active listings at the end of May 2026 were 13.7% above May 2025 and 0.5% higher than April 2026.
The sales-to-new-listings ratio, or SNLR, was 61% in May 2026, placing the market just within seller's market territory. This was slightly higher than April's SNLR of 58%, suggesting that market conditions tightened modestly from the previous month.
Another important indicator of market conditions is the months of inventory, or months of supply. The market had 5.5 months of inventory, calculated as total inventory divided by the average number of transactions over the past 12 months. According to QPAREB, the market is considered a seller's market when months of inventory are under 8 months, balanced between 8 and 10 months, and a buyer's market above 10 months. By this definition, Montreal remains in seller's market territory.
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 was $645,000 in May 2026, representing a 3.2% year-over-year increase and no change from last month. Single-family home sales fell to 2,426, down 6.8% year-over-year.
- The median price for condominiums was $430,000 in May 2026, increasing 1.2% monthly and 0.6% annually. Condo sales fell to 1,710, down 8.5% year-over-year and 5.9% month-over-month.
- The median price for plexes was $875,000 in May 2026, up 6.1% year-over-year and 1.2% from April. Plex sales declined to 486, down 5.8% year-over-year.
Comparison with Other Cities
The average home price in Montreal increased by 2.6% year-over-year. The average home price in Calgary's housing market increased by 2.5% from last year. Meanwhile, Vancouver's housing market and Toronto's housing market experienced a 2.4% and 4.6% decline in the average home price over the past year, respectively.
On the other hand, transactions in Toronto increased by 6.3% year over year. Meanwhile, transactions in Montreal, Vancouver and Calgary declined by 7.4%, 3.5% and 15.8%, respectively.
Reasoning
Montreal's housing market continues to be supported by lower borrowing costs compared with the highs seen in 2023 and 2024. A decline in Montreal mortgage rates and Quebec mortgage rates has made mortgage financing meaningfully more affordable than in the past. The Bank of Canada (BoC) held its target for the overnight rate at 2.25% on April 29, 2026, continuing its pause on rate changes.
May's data points to a market where demand has softened, but prices remain supported. Sales declined both year-over-year and month-over-month, while active listings continued to rise, giving buyers more options than they had earlier in the year. However, the average price still increased, suggesting that the additional supply has not been enough to put broad downward pressure on home values.
Looking Forward
Montreal's near-term outlook will depend on the direction of interest rates, household confidence, and broader economic conditions. With sales activity slowing and active listings continuing to rise, buyers may have more options to compare before making a purchase. This could help ease some competitive pressure in the market and limit the pace of future price growth.
However, May's continued increase in average home prices suggests that demand has not weakened enough to push prices lower. Montreal's relative affordability compared with Toronto and Vancouver should also continue to support buyer interest, particularly among those looking for lower entry costs in a major Canadian housing market. Buyers planning a purchase may want to review FHSA, TFSA, and RRSP Home Buyers' Plan options when preparing their down payment.
Note: The average home price of $674,943 is calculated by dividing total residential sales volume by the number of transactions across all property types. For individual property categories, such as single-family homes, condos, and plexes, median prices are used to better reflect typical sale values and reduce the impact of outliers. In May 2026, Montreal recorded a total residential sales volume of $3,120,261,075 across 4,623 transactions, resulting in the average price above.
Home Prices in Montreal
Montreal Housing Market Statistics for All Property Types in May 2026
Average Sold Price and MLS HPI Benchmark Price
Total Transactions
Property Type Distribution
Market Overview for Single-Family Homes in May 2026
Median Sold Price
Transactions
Market Overview for Condominiums in May 2026
Median Sold Price
Transactions
Market Overview for Plexes in May 2026
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.
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.
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.
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- 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.