Montreal Housing Market Report
- The average home sold price reached $651,066 in January 2026, for a 5% annual increase.
- Montreal home sales were down 15.9% year over year to 2,364 in January 2026, and new listings were up by 7.5% to 6,550 in the same time period.
- Single-family home median price increased by 4.1% year-over-year to $615k.
- Condo median price increased by 1.9% year-over-year to $428k.
- Plex median price increased by 7.9% year-over-year to $842k.
Montreal Housing Market Overview
Market Snapshot (January 2026)
Average Home Price | $651,066 | -3.5% 1-Month Change | +5.0% 1-Year Change |
Note: The MLS HPI benchmark price represents the value of a ‘typical’ home in the area.
In January 2026, home sales in Montreal declined significantly on a year-over-year basis. While the city stood out as one of Canada's most competitive and resilient markets throughout 2025, the recent slowdown demonstrates that no major Canadian market is immune to mounting affordability challenges and supply constraints. However, the inventory challenges continue to support home prices in Montreal’s housing market.
Home Prices
The average home sold price in Montreal’s housing market was $651,066 in January 2026. This represents an increase of 5% compared to last January's average price and a 3.5% decrease from the previous month. Looking at a longer horizon, the average price of a home in Montreal has increased by approximately 34% over the past five years.
Sales and Inventory
2,364 homes were sold in Montreal's housing market during January 2026, reflecting a 15.9% decrease in sales compared to January 2025 and a 16.5% decline compared to the previous month. There were 6,550 new listings on Montreal’s housing market in January 2026, marking a 7.5% year-over-year increase and a 159% month-over-month rise. Meanwhile, there were 16,798 active listings at the end of January 2026, representing a 8.6% year-over-year increase and a 8.2% monthly increase.
The sales-to-new listings ratio (SNLR) was 36% in January 2026, placing the market in buyer’s market territory based on the SNLR. However, data from this time of the year is usually skewed due to a dip in market activity. Therefore, we should also consider other measures to weigh market conditions. 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 4.3 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 $615,000 in January 2026, representing a 4.1% year-over-year increase and a 1.6% decrease from the previous month.
- The median price for condominiums reached $428,000 in January 2026, increasing by 1.9% year-over-year and by 0.7% from the previous month.
- The median price for plexes reached $841,800 in January 2026, up 7.9% year-over-year and representing a 1.4% 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 increased by 2.2% from last year, and that in Vancouver's housing market increased by 0.2%. Meanwhile, Toronto’s housing market experienced a 6.5% decline in the average home price over the past year.
On the other hand, transactions in Montreal dropped by 15.9%, compared to January last year. Meanwhile, transactions in Vancouver, Toronto and Calgary declined by 29%, 19.9% and 15%, 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. The Bank of Canada (BoC) reduced its policy rate by 2.75% from June 2024 to October 2025 and has held it steady at 2.25% since then. 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 three years ago.
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 two years after the 2023 slump.
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 $651,066 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 January 2026, Montreal recorded a total residential sales volume of $1,539,119,905 across 2,364 transactions, resulting in the average price above.
Home Prices in Montreal
Montreal Housing Market Statistics for All Property Types in January 2026
Average Sold Price and MLS HPI Benchmark Price
Total Transactions
Property Type Distribution
Market Overview for Single-Family Homes in January 2026
Median Sold Price
Transactions
Market Overview for Condominiums in January 2026
Median Sold Price
Transactions
Market Overview for Plexes in January 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.
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.