Montreal CMA Sees Sales Decline as Price Pressures Ease
Montreal CMA experienced a 7% decrease in residential sales in May 2026 compared to May 2025. The increase in available properties for sale continues, contributing to easing price pressures.
The Montreal Census Metropolitan Area (CMA) saw a 7% drop in residential sales in May 2026, with 4,623 transactions recorded, according to statistics released by the Quebec Professional Association of Real Estate Brokers (QPAREB). This marks a continuation of a gradual decline. Year-to-date sales activity remains close to the ten-year average.
All property categories experienced a decrease in sales. Single-family homes declined by 6%, plexes by 5%, and condominiums by 8%. Concurrently, the supply of homes for sale increased for the tenth consecutive month, reaching 21,073 active listings, a 14% rise from May 2025. The inventory of condominiums saw the most significant growth.
As sales diminish and supply grows, market conditions are easing. While sellers still hold an advantage across most of the CMA, areas like the condominium market in certain central neighborhoods and downtown Montreal are now balanced or favour buyers. Median prices for single-family homes rose 3%, plexes 6%, and condominiums 1% year-over-year.
QPAREB attributes the slowdown to a deteriorating labor market and shifting demographic trends. Charles Brant, QPAREB's Market Analysis Director, noted a sharp increase in the unemployment rate and a slight decline in population growth, factors that are moderating property demand and impacting sales activity despite the increased supply.