Montreal Housing Market Report
- The average home sold price reached $656,807 in March 2026, increasing 5.1% annually.
- Montreal home sales were up 1.4% year over year to 5,045 in March 2026, and new listings were up by 11.2% to 8,574 in the same time period.
- Single-family home median price% year-over-year to $increased by 6.9.652k
- Condo median price% year-over-year to $increased by 1.2.425k
- Plex median price% year-over-year to $increased by 6.880k
Montreal Housing Market Overview
Market Snapshot (March 2026)
Average Home Price | $656,807 | 0.0% 1-Month Change | +5.1% 1-Year Change |
Note: The MLS HPI benchmark price represents the value of a ‘typical’ home in the area.
Montreal's housing market is showing renewed momentum heading into spring, with sales, listings, and prices all rising year-over-year across all property types. Total sales reached 5,045 in March 2026, up 1.4% from a year earlier, while new listings grew 11.2% and active listings climbed 12.7%. Prices also strengthened, with single-family homes and plexes both reaching new median highs of $652,250 and $880,000, respectively. In March 2026, Montreal outpaced Toronto in monthly home sales (5,045 vs. 5,039), underscoring the city's growing presence as one of Canada's most active housing markets.
Home Prices
The average home sold price in Montreal's housing market was $656,807 in March 2026, 5.1% more than March 2025's average price and essentially unchanged from February. Looking at a longer time horizon, the average price of a home in Montreal has increased by approximately 28% over the past five years.
Sales and Inventory
5,045 homes were sold in Montreal's housing market during March 2026. The sales increased by 1.4% compared to March 2025, and by 28.4% compared to the previous month. There were 8,574 new listings on Montreal's housing market in March 2026, marking an 11.2% year-over-year increase and a 12.4% month-over-month rise. Meanwhile, the 19,952 active listings at the end of March 2026 were 12.7% above March 2025 and a 6.7% monthly increase.
The sales-to-new listings ratio (SNLR) was 59% in March 2026, placing the market in a balanced market range (40% - 60%). However, the conditions were tighter than in February, when the SNLR was 52%. Based on SNLR, Montreal has consistently favoured sellers for most months since the start of 2024.
Another important indicator of market conditions is the months of inventory or months of supply. The market had 5.1 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 a new peak of $652,250 in March 2026, representing a 6.9% year-over-year increase and a 2.1% monthly increase.
- The median price for condominiums reached $425,000 in March 2026, increasing by 1.2% year-over-year and decreasing by 1.2% from the previous month.
- The median price for plexes reached a new high of $880,000 in March 2026, up 6% year-over-year and representing a 3.5% month-over-month increase.
Comparison with Other Cities
The average home price in Montreal increased by 5.1% year-over-year. The average home price in Calgary's housing market increased by 0.4% from last year. Meanwhile, Vancouver's housing market and Toronto's housing market experienced a 3.1% and 6.9% decline in the average home price over the past year, respectively.
On the other hand, transactions in Montreal and Toronto increased by 1.4% and 0.6% year over year. Meanwhile, transactions in Vancouver and Calgary declined by 2.8% and 12.9%, respectively.
Reasoning
Montreal's housing market has been supported by a combination of lower borrowing costs and sustained demand. The Bank of Canada (BoC) reduced its policy rate by 2.75% between June 2024 and October 2025, holding it steady at 2.25% since then. This led to a decline in Montreal mortgage rates and Quebec mortgage rates and has made mortgage financing meaningfully cheaper than it was in 2023, helping to revive buyer activity following the 2023 slowdown.
Montreal's relative affordability compared to Toronto and Vancouver continues to attract buyers, both locally and from other parts of Canada, keeping demand resilient despite broader economic uncertainty.
Looking Forward
The near-term outlook for Montreal's housing market will largely depend on the direction of interest rates and broader economic conditions. The Bank of Canada is expected to hold its policy rate at 2.25% for now, though U.S. tariffs and the ongoing conflict in Iran, which has pushed oil prices higher and stoked inflation concerns, could influence that path. Canada's 5-year government bond yield has climbed sharply over the past month, putting upward pressure on fixed mortgage rates that could cool buyer activity if the trend continues. Adding to the uncertainty, Canada lost 84,000 jobs in February, and the unemployment rate rose to 6.7% — a headwind that could temper buyer confidence, particularly among younger and first-time buyers.
On the demand side, Montreal's affordability advantage over Toronto and Vancouver should sustain interest from buyers this spring. Those considering purchasing a home in Montreal may want to explore the FHSA, TFSA, and RRSP Home Buyers' Plan options when planning their down payment.
Note: The average home price of $656,807 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 March 2026, Montreal recorded a total residential sales volume of $3,313,589,267 across 5,045 transactions, resulting in the average price above.
Home Prices in Montreal
Montreal Housing Market Statistics for All Property Types in March 2026
Average Sold Price and MLS HPI Benchmark Price
Total Transactions
Property Type Distribution
Market Overview for Single-Family Homes in March 2026
Median Sold Price
Transactions
Market Overview for Condominiums in March 2026
Median Sold Price
Transactions
Market Overview for Plexes in March 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.
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.
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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.