In the Montreal housing market, sales are falling, more homes are up for sale, and yet prices are not coming down. If you are trying to buy, that can feel backwards. Here is what is actually going on.
What the numbers say
According to the Quebec Professional Association of Real Estate Brokers (QPAREB), here is the Greater Montreal picture for September 2026:
- 3,082 sales, down 11.6% from September 2025;
- median single-family price: $635,000 (+0.5%);
- median condo price: $430,000 (flat);
- median plex price: $861,000 (+2.5%);
- 21,793 properties for sale, up 19.9% over a year.
Why prices hold up even with fewer sales
Supply is coming back, slowly. More properties are on the market, but from a very low starting point. QPAREB says most parts of the region are still short on inventory, so sellers keep the upper hand in negotiations.
Demand is down, but not by enough. Fewer buyers are active, though not so few that prices drop across the board. What has changed is the tone: more sellers are cutting their asking price, and bidding wars are rarer.
Borrowing costs more. Fixed mortgage rates have risen, and QPAREB raises the possibility of a Bank of Canada rate increase by early 2027. First-time buyers feel it most.
There is no single market. Condos on the Island of Montreal are close to balanced, and downtown and the Sud-Ouest are already in surplus. Elsewhere, and especially for single-family homes, pressure remains high.
What about the plex, Montreal’s signature building?
The plex is the only property type whose median price clearly rose over the year. One likely reason is rental income. CMHC reported that average rents in Montreal rose 7.2% in 2025, faster than household incomes. Higher rents make a plex more profitable to own, which helps support its value.
What it means for you
- Buying a condo on the island: you have more choice and more room to negotiate than a year ago.
- Looking for a single-family home: the market is still tight, even if bidding wars are calming down.
- First-time buyer: rates matter more than prices right now; get your borrowing capacity confirmed before you shop.
- Selling: you are still in a good position, but an ambitious asking price may sit.
Figures current as of October 14, 2026.
Sources
- QPAREB September 2026 statistics for the Montreal CMA (The Canadian Press, via CTV News)
- QPAREB Q3 2026 market report (press release, French)
- CMHC 2025 Rental Market Report (Noovo, French)