It’s hard to ignore the buzz coming out of Montreal’s real estate sector this summer. According to the latest numbers from the Quebec Professional Association of Real Estate Brokers, home sales in the region were up a robust 15.5 per cent in June compared to the same time last year. That’s no small feat, especially in a climate where many other major markets across North America are still trying to find their footing.
The numbers are impressive on the surface. A total of 4,385 homes changed hands last month, compared to 3,798 in June 2024. And prices? They’ve climbed steadily across the board, with all property types seeing around a 7 per cent jump in median value. Single-family homes now sit at a median of $627,000, plexes have soared to $830,000, and condos—still the most accessible entry point for many buyers—rose to $426,494.
But here’s where we need to ask some deeper questions.
Yes, sales are up. Yes, prices are rising. But is this sustainable growth or are we inching toward another affordability crunch? Active listings were up only slightly—1.8 per cent year-over-year—driven mainly by a boost in condo inventory. Interestingly, there were actually fewer single-family homes and plexes available compared to last year, which likely helped push prices higher due to simple supply and demand.
What we’re seeing may be less of a healthy boom and more of a market grappling with persistent supply issues. Despite the 5,654 new listings in June—a 6.4 per cent increase from last year—it still feels like the pace of new inventory isn’t enough to meet the mounting demand, particularly among first-time buyers and young families.
The market is clearly favoring sellers right now, but buyers are walking a tightrope. With higher prices and limited options, many are being priced out of neighborhoods they could afford just a year ago. While real estate professionals may cheer these statistics as signs of a strong and resilient market, others might view them as red flags for affordability and accessibility.
Montreal’s housing story isn’t just about numbers—it’s about people trying to build lives, find stability, and plant roots. Let’s hope this current momentum can be matched by thoughtful planning, new housing development, and policies that ensure this growth benefits more than just the top tier of the market.
