Suburban supply surges while Quebec City prices keep climbing on thin inventory
Montreal-area home sales fell 12% year over year in September, while active listings climbed for a 14th straight month and now sit 18% above their 10-year average, according to data released by the Quebec Professional Association of Real Estate Brokers (QPAREB).
Buyers closed 3,082 residential transactions across the Montreal census metropolitan area (CMA), down from 3,486 a year earlier, based on Centris figures.
Active listings rose 20% to 21,793 and new listings increased 7% to 7,494. For mortgage brokers, the shift hands clients more negotiating room and longer runways between offer and closing.
Prices have barely moved. The median single-family home sold for $635,000, against $632,000 in September 2025, while the condominium median held at $430,000.
Plexes, which cover two- to five-unit properties, rose 3% to a median of $861,000.
Suburban supply builds as Montreal condo sales lag
The supply build-up that began on the Island of Montreal has moved outward, a pattern already visible in Montreal's August sales decline and suburban rebalancing.
Active listings rose 32% on the South Shore and 30% on the North Shore, where sales fell 7% and 14%, respectively.
South Shore condominium listings jumped 43%, pulling the median condo price down 3% to $405,500.
On the island, sales dropped 14% and the median single-family price slipped 4% to $779,000.
Laval posted the steepest sales decline among major areas at 17%. Only Vaudreuil-Soulanges and Saint-Jean-sur-Richelieu recorded gains, of 2% and 1%.
Condo sales fell 14% across the CMA, and units took an average of 65 days to sell, up from 48 a year earlier.
"Condominiums on the Island of Montreal remain the segment where the rebalancing process is most advanced," Camille Laberge, QPAREB's assistant director and senior economist, said when the association released its August data.
David Tardif, a licensed real estate broker and founder of Endurance Groupe Immobilier par Tardif in Montreal, flagged the same tension in July as his firm's index showed Montreal Island slipping into light buyer's market territory.
"Look only at prices and you conclude the market is solid; look only at volume and you conclude it is slowing sharply. The reality is both at once: a market that sorts."
| Indicator | Sept. 2026 | Sept. 2025 | Change |
|---|---|---|---|
| Market activity | |||
| Residential sales | 3,082 | 3,486 | ▼ 12% |
| Active listings | 21,793 | 18,173 | ▲ 20% |
| New listings | 7,494 | 6,989 | ▲ 7% |
| Sales volume | $2.11B | $2.36B | ▼ 11% |
| Median price | |||
| Single-family homes | $635,000 | $632,000 | ↔ 0% |
| Condominiums | $430,000 | $430,000 | ↔ 0% |
| Plexes (2–5 units) | $861,000 | $840,000 | ▲ 3% |
| Sales by property type | |||
| Single-family homes | 1,649 | 1,803 | ▼ 9% |
| Condominiums | 1,081 | 1,259 | ▼ 14% |
| Plexes (2–5 units) | 350 | 419 | ▼ 16% |
| Average days on market | |||
| Single-family homes | 41 | 40 | ▲ 1 day |
| Condominiums | 65 | 48 | ▲ 17 days |
| Plexes (2–5 units) | 56 | 47 | ▲ 9 days |
Source: Quebec Professional Association of Real Estate Brokers (QPAREB), Centris system. Changes are year over year.
Why Quebec City prices are still rising
Quebec City told a different story. Sales in the Quebec City CMA fell 5% to 776, yet activity remains 23% above its 10-year average.
Active listings jumped 35% to 2,530, but QPAREB said supply is still roughly half its historical norm, keeping pressure on prices.
The median single-family price rose 5% to $475,000, condominiums gained 6% to $335,000 and plexes climbed 13% to $593,000.
The divergence matches Canada Mortgage and Housing Corporation's (CMHC) city-by-city forecasts for 2026, which named Quebec City the strongest resale performer among 18 markets.
Through the first nine months of 2026, Montreal-area sales totalled 33,868, down 8%, while transaction value fell 4% to $22.8 billion. That's a steeper slide than the 3% annual decline QPAREB forecast earlier this year.
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