Montreal's June data reveals a shifting market, even as prices hold firm across all property types
Residential sales in the Montreal census metropolitan area (CMA) fell 8.2% year-over-year in June 2026, extending a stretch of declining activity that has tested one of Canada's most closely watched housing markets.
The Quebec Professional Association of Real Estate Brokers (QPAREB) reported that 4,012 properties changed hands during the month, compared with 4,371 in June 2025, a decline that arrived just as the summer selling season was getting underway.
The drop in sales coincided with the 11th consecutive month of year-over-year inventory growth.
Total active listings across the Montreal CMA climbed 17.4% to 20,894 units, while new listings reached 6,648, an 11.1% increase from the same period a year earlier.
That widening gap between supply and demand is reshaping conditions that had, for much of the previous two years, strongly favoured sellers.
Montreal's market had been showing unmistakable signs of a slowdown heading into the summer, with sales declining for several consecutive months and inventory climbing to levels not seen in years.
Quebec's 2026 housing forecast from QPAREB projected a modest 3% decline in Montreal CMA sales for the year, with the condominium segment expected to face the most pressure as newer, higher-end units accumulated on the market.
Prices rise even as buyer activity retreats
Despite the softening in demand, median prices climbed across all property categories in June 2026.
Plex properties posted the strongest gain, with the median price rising 5.9% year-over-year to $880,000.
Single-family homes were up 3.5% to $649,000, while condominiums edged 2% higher to $435,000.
The divergence between falling sales and rising prices reflects a market in transition rather than outright distress.
QPAREB market analysis director Charles Brant has previously noted that "property prices in Montreal, particularly on the island, have reached levels that far exceed the financial capacity of many buyers" – a dynamic that, while tempering transaction volumes, has not yet unwound the price gains accumulated over the past several years.
Rola Hamdan, a mortgage broker with Dominion Lending Centres (DLC) in Montreal, has described the city's market as one that has "always shown us its strong resilience in the face of economic uncertainty" – a view that still finds some support in the June price data, even as deal volumes continue to slide.
A contrast with Quebec City's momentum
The Montreal data stands in sharp contrast to conditions in Quebec City, where 903 residential sales were completed in June 2026 – a 12% increase from a year earlier, according to QPAREB.
Active listings in the Quebec City CMA rose 23% to 2,170 units, reflecting the third consecutive month of inventory growth in that market.
Unlike Montreal, Quebec City has benefited from a tighter supply-demand balance, lower unemployment, and stronger price growth.
The divergence between the province's two largest markets is a reminder that Quebec's housing landscape is not uniform, and that broker strategies effective in one corridor may require meaningful adjustment in another.
QPAREB is expected to release a more detailed Q2 2026 barometer in the coming days, which will provide additional analysis on transaction activity, median prices, and sectoral and regional variations across the province.
Make sure to get all the latest news to your inbox on Canada’s mortgage and housing markets by signing up for our free daily newsletter here.
