Montreal Housing Market Report

Montreal Housing Market Overview

Note: The MLS HPI benchmark price represents the value of a ‘typical’ home in the area.

Montreal's average home price slipped below its year-earlier level in October 2026, the first annual decline since June 2023. At $681,957, the average was 0.8% lower than in October 2025, after annual gains had narrowed to 3.2% in August and 0.9% in September. Sales fell 18.0% from a year earlier to 3,252, and QPAREB noted that October activity was about 13% below the 10-year average for the month.

Supply pressure eased slightly as the fall listing rush faded. New listings fell 16.6% from September to 6,247, which lifted the sales-to-new-listings ratio to 52% and trimmed months of supply to 6.7. Active listings held near September's level at 21,817, but they were still 18.2% higher than a year earlier.

The average home sold price in Montreal's housing market was $681,957 in October 2026, 0.8% lower than October 2025's average price and 0.2% lower than September 2026's average price.

The annual decline, the first since June 2023, did not come from a shift toward cheaper property types. Single-family homes made up 53.8% of October sales, compared with 52.0% in October 2025, while the condominium share fell to 34.2% from 35.8%. The softer average instead points to where homes are sold: QPAREB noted that relatively affordable areas of the Island of Montreal and Laval account for a growing share of sales, while the highest-priced markets are relatively less active. Over a longer horizon, the average price of a Montreal home has climbed roughly 20.0% in the past five years.

3,252 homes were sold in Montreal's housing market in October 2026. Sales were 18.0% lower than in October 2025 and 5.5% higher than in September. Each property category recorded a double-digit annual decline in sales, with condominiums falling the most.

Montreal's housing market recorded 6,247 new listings in October 2026, 2.7% fewer than a year earlier and 16.6% fewer than in September. The 21,817 active listings at the end of October 2026 were 18.2% above October 2025 and 0.1% above September 2026.

The sales-to-new-listings ratio, or SNLR, rose to 52% in October 2026 from 41% in September, though it remained below the 62% recorded in October 2025. Because new listings dropped faster than sales, the ratio moved back into the 40% to 60% range, typically associated with a balanced market.

Months of supply, or months of inventory, offers a second view of market conditions. WOWA calculates it as active listings at month-end divided by that month's sales. Montreal had 6.7 months of supply in October 2026, down from 7.1 months in September but up from 4.7 months in October 2025. Under WOWA's thresholds, 3 to 5 months of supply indicates a balanced market, and more than 5 months is a buyer's market, which keeps Montreal in buyer's market territory.

Looking at the median prices and sales of Montreal's property types,

• The median price of a single-family home in Montreal was $640,000 in October 2026, up 1.3% from a year earlier and 0.8% from September, the largest annual gain of the three categories. Single-family sales totalled 1,750, down 15.3% year-over-year.
• The median price for condominiums was $430,500 in October 2026, up 0.3% year-over-year and 0.1% from September. Condo sales fell to 1,112, down 21.7% from October 2025, the steepest annual drop of the three categories.
• The median price for plexes was $850,000 in October 2026, unchanged from a year earlier and 1.3% below September. Plex sales rose to 387, up 10.6% from September but down 19.2% year-over-year.

The average home price in Montreal fell 0.8% year-over-year in October 2026, and average prices were also lower than a year earlier in Calgary, Toronto and Vancouver. In Calgary's housing market, the average price edged down 0.3% to $640,769, about $41,000 below Montreal's. The average price in Toronto's housing market fell 2.7% to $1,024,108, while in Vancouver's housing market it declined 2.8% to $1,230,585.

Sales were lower than a year earlier in all four markets in October 2026, and Montreal posted the largest decline. Transactions fell 18.0% year-over-year in Montreal, 15.5% in Calgary, 10.2% in Vancouver and 7.9% in Toronto.

October's data shows Montreal's slowdown starting to reach prices, not just sales. Demand weakened across every property type while inventory stayed close to its fall high. QPAREB says buyers are adjusting their choices to their budgets, which helps explain why the average price fell even as median prices held steady. Under its own measures, QPAREB noted that conditions still generally favour sellers, except for condominiums in central areas of the Island of Montreal.

Borrowing costs have also turned less favourable. The Bank of Canada (BoC) raised its target for the overnight rate to 2.50% from 2.25% on October 28, 2026, its first increase since July 2023, and its next scheduled decision is on December 9, 2026. QPAREB also points to a recent rise in five-year fixed mortgage rates. Higher Montreal mortgage rates and Quebec mortgage rates reduce how much buyers can borrow, which could keep pressure on sales and prices into the winter.

For sellers: the market is less forgiving than it was a year ago. Active listings are 18.2% higher than in October 2025, sales are down 18.0%, and the average price has slipped below last year's level. With the rate hike adding to affordability pressure, pricing close to recent comparable sales matters, especially for condominium owners in central Montreal, where supply is in surplus.

For buyers: selection remains wide, with 21,817 properties for sale and about 6.7 months of supply, though good listings still move quickly: single-family homes sold in an average of 36 days in October, plexes in 46 days and condominiums in 56 days. What to watch: new listings usually slow further in November and December, which could tighten supply over the winter. At the same time, the BoC's first hike in more than three years has changed the outlook for interest rates, and any further increases would weigh on affordability. 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 $681,957 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 October 2026, Montreal recorded a total residential sales volume of $2,218 million across 3,252 transactions, resulting in the average price above.

Methodology change: Since the September 2026 report, WOWA calculates Montreal's months of supply as active listings at month-end divided by that month's sales, the same method it uses for other Canadian cities. Reports up to August 2026 used QPAREB's method, which divides inventory by average monthly sales over the past 12 months and treats fewer than 8 months as a seller's market, so figures in those reports are not directly comparable. On QPAREB's 12-month basis, WOWA calculates Montreal's October 2026 months of supply at about 6.0 months.

Home Prices in Montreal

Montreal Housing Market Statistics for All Property Types in October 2026

Market Overview for Single-Family Homes in October 2026

Market Overview for Condominiums in October 2026

Market Overview for Plexes in October 2026