Greater Montreal’s housing market continued to contract in July 2026: sales fell 10% year over year, while inventory rose 17%, pointing to a shift from a “hot” market to a correction phase in buyers’ favor.
Key figures for July 2026 (QPAREB / Centris)
- Sales: 3,338 transactions, –10% vs. July 2025; this is the fifth consecutive monthly decline and the sharpest since February 2026.
- New listings: 5,260, +4.1% year over year.
- Active inventory: 19,790 units, +17% vs. last year and +9% above the historical July norm.
- Supply breakdown: condominiums +20%, plexes +14%, single-family homes +13%.
Prices: growth persists, but time on market is rising
Despite weakening demand, median prices continued to rise across all property types.
- Plexes: $865,000, +6.1% y/y; average time to sell — 46 days (–8 days).
- Single-family homes: $650,000, +4% y/y; 38 days on market (+3 days).
- Condominiums: $431,500, +1.5% y/y; 55 days (+9 days).
What QPAREB analysts are saying
- Camille Laberge (Deputy Director, Market Analysis, QPAREB) notes that supply pressure in the condo segment, previously concentrated in central areas of the island, is now spreading to less central neighborhoods on the island, as well as to the South Shore, Laval, and the North Shore.
- Hélène Bégin (Senior Economist, QPAREB) links the market’s trajectory not only to the real estate cycle but also to a demographic shift: tighter immigration rules are leading to a decline in the population of the Montreal CMA, cooling demand across all housing types.
Context: the Tardif Index and a “buyer’s market”
The independent Tardif Index (Endurance Groupe Immobilier) for the Island of Montreal recorded a value of 24.5/100 in July 2026, consistent with a “mild buyer’s market.” Weekly snapshots show sales down 8–17% y/y and an increase in expired listings, especially in the condo segment, while 2–4 unit plexes remain closer to a “seller’s market” (SNLR ~73.7%).
What this means for buyers and sellers
- For buyers: more choice, less urgency, room to negotiate; the condo segment is the most “oversupplied.”
- For sellers: realistic pricing and proper preparation matter; competition is increasing in condos, while demand in plexes remains more resilient for now
