Montreal Housing Market Report
- The average home sold price reached $693,686 in July 2026, rising 5.3% annually and 0.5% monthly.
- Montreal home sales fell 10.5% year-over-year to 3,338 in July 2026, while new listings edged up 2.2% to 5,260 over the same period.
- Single-family home median price increased by 4% year-over-year to $650k.
- Condo median price increased by 1.5% year-over-year to $432k.
- Plex median price increased by 6.1% year-over-year to $865k.
Montreal Housing Market Overview
Market Snapshot (July 2026)
| Home Price | 1-Month Change | 1-Year Change | |
|---|---|---|---|
Average Home Price | $693,686 | +0.5% | +5.3% |
Note: The MLS HPI benchmark price represents the value of a ‘typical’ home in the area.
Buyers and sellers both pulled back from Montreal's housing market in July 2026, with sellers pulling back further. Transactions fell 16.8% from June to 3,338, leaving them 10.5% below July 2025, while new listings dropped 20.9% over the month. Supply thinning faster than demand tightened conditions rather than easing them: the sales-to-new-listings ratio climbed to 63% from 60% in June, and months of supply narrowed to 5.2 from 5.5. Prices held firm through the slowdown, as the average home price edged up to $693,686, 5.3% above a year earlier and 0.5% above June. The two segments that set records a month earlier gave a little back, with the median condo price easing to $431,500 and plexes slipping to $865,000, though both still sit above their July 2025 levels.
Home Prices
The average home sold price in Montreal's housing market was $693,686 in July 2026, 5.3% above July 2025's average price and 0.5% above June 2026.
Over a longer horizon, the average price of a Montreal home has climbed by roughly 27.8% in the past five years.
Sales and Inventory
3,338 homes changed hands in Montreal's housing market during July 2026. Sales came in 10.5% lower than in July 2025 and 16.8% below the previous month.
Montreal's housing market recorded 5,260 new listings in July 2026, a 2.2% year-over-year increase but a 20.9% month-over-month decline. The 19,790 active listings on the market at the end of July 2026 sat 13.8% above July 2025 and 5.3% below June 2026.
The sales-to-new-listings ratio, or SNLR, reached 63% in July 2026, pushing the market further into seller's market territory. That is up from June's reading of 60%, because the retreat in new supply outpaced the drop in sales, tightening conditions even in a quieter month.
Another key gauge of market conditions is the months of inventory, or months of supply. The market held 5.2 months of inventory, calculated as total inventory divided by the average number of transactions over the past 12 months, down from 5.5 months in June. According to QPAREB, a market counts as a seller's market when months of inventory sit under 8 months, balanced between 8 and 10 months, and a buyer's market above 10 months. On that measure, Montreal stays comfortably inside 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 $650,000 in July 2026, a 4.0% year-over-year increase and a 0.2% gain on the month. Single-family home sales slipped to 1,852, down 4.3% year-over-year.
- The median price for condominiums was $431,500 in July 2026, down 0.8% on the month but still 1.5% above a year earlier, stepping back from the record $435,000 set in June. Condo sales dropped to 1,142, down 17.5% year-over-year and 21.3% month-over-month.
- The median price for plexes was $865,000 in July 2026, up 6.1% year-over-year but down 1.7% from June. That pulls the segment off the $880,000 all-time peak it matched in June, first reached in March. Plex sales fell to 340, down 17.1% year-over-year.
Comparison with Other Cities
The average home price in Montreal rose 5.3% year-over-year, once again the strongest annual gain among Canada's largest markets. Over the same period, the average home price in Calgary's housing market increased by 2.1% from last year. Prices moved the other way in Toronto's housing market, where the average selling price fell 4.5% over the past year.
Sales, by contrast, were softer across the board in July. Transactions fell 10.5% year over year in Montreal and 9.3% in Calgary, while Toronto came closest to holding its ground with a 1.7% decline.
Reasoning
Montreal's housing market continues to draw support from borrowing costs well below their 2023 and 2024 peaks. Lower Montreal mortgage rates and Quebec mortgage rates have left mortgage financing meaningfully more affordable than it was through that stretch. The Bank of Canada (BoC) left its target for the overnight rate at 2.25% on July 15, 2026, a sixth consecutive hold, with its next scheduled decision set for September 2, 2026.
July's data describes a market thinning out rather than turning over. Sales dropped on both an annual and a monthly basis, but sellers withdrew faster than buyers did: new listings fell more than 20% from June, active listings declined for a second straight month, and months of supply tightened. The extra choice buyers picked up earlier in the spring is narrowing again, and with supply still tight relative to the region's longer-run norms, prices have kept grinding higher.
Looking Forward
Montreal's near-term direction still hinges on the direction of interest rates, household confidence, and the wider economy. Transaction volumes sit well below last year's, yet the inventory cushion buyers built up over the spring is thinning, with active listings down for two months running and new supply arriving more slowly. Should that pattern hold, competition could firm up again rather than fade, keeping pressure on prices through the second half of the year.
Pulling the other way, sales have now posted a double-digit annual decline, a sign that stretched affordability is doing real work on demand even with the average price 5.3% above last July. Montreal's relative affordability next to Toronto and Vancouver should keep drawing buyers who want a lower entry point into a major Canadian market. Anyone 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 $693,686 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 July 2026, Montreal recorded a total residential sales volume of $2,316 million across 3,338 transactions, resulting in the average price above.
Home Prices in Montreal
Montreal Housing Market Statistics for All Property Types in July 2026
Average Sold Price and MLS HPI Benchmark Price
Total Transactions
Property Type Distribution
Market Overview for Single-Family Homes in July 2026
Median Sold Price
Transactions
Market Overview for Condominiums in July 2026
Median Sold Price
Transactions
Market Overview for Plexes in July 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:
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- 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.