Montreal Housing Market 2026 Trend: Data-Driven Update

The Montreal CMA is delivering a data-driven story in early 2026: the Montreal housing market 2026 trend shows resilience in prices despite a clear slowdown in transactions. January 2026 Centris data published by the Quebec Professional Association of Real Estate Brokers (QPAREB) revealed a pronounced year-over-year drop in activity but continued price growth across all major property types, underscoring persistent demand amid historically tight supply. As the market moved into February, the same data framework showed a stabilizing rhythm with rising condo listings and continued price increases, signaling a shift toward a more balanced pace—though not a uniform recovery across all segments. This pattern sits at the center of national housing narrative, with Montreal standing out as one of the few markets where prices remained elevated even as activity cooled. (apciq.ca)

The broader context matters. RBC Economics’ March 6, 2026 outlook notes that Montreal is “one of two major Canadian markets showing prices consistently elevated from a year ago,” supported by relatively low inventory that continues to underpin price resilience. The bank’s analysis also highlights that January and February sales in Montreal tipped the market toward balance, yet seller leverage had not yet eroded enough to trigger meaningful price concessions. In short, the Montreal housing market 2026 trend sits at the intersection of constrained supply, steady demand, and cautious optimism about a gradual normalization in activity. (rbc.com)

Opening

Montreal’s housing data ecosystem in early 2026 points to a market that defies a broader Canadian slowdown. January 2026 Centris figures for the Montreal CMA show 2,364 residential transactions, a 15% decline from January 2025, with plexes bucking the trend at +7% to 263 sales, while single-family homes and condominiums fell by 17% and 18% respectively. The price story, however, was distinctly different: median prices rose across all major categories, with single-family homes at $615,000, condos at $428,000, and plexes at $841,800. Condo inventory rose modestly by 18%, signaling a budding tilt toward more options for buyers but still tight enough to sustain price pressure. The days-on-market metric also tightened, averaging 50 days for singles, 66 for plexes, and 67 for condos. This combination of rising prices and constrained supply underpins the Montreal housing market 2026 trend and frames the early-year narrative. (apciq.ca)

February 2026 data continued the storyline with a broader lens. In February, 3,930 residential transactions were concluded in the Montreal CMA, a 3% decline versus February 2025, reflecting a continuation of the soft start to 2026 after the late-2025 slowdown. By property type, plexes again stood out with 363 sales (+1%), while single-family homes posted 2,056 transactions (down 1%) and condominiums 1,505 (down 7%). Supply dynamics shifted notably for condos, where listings surged 20%—pushing overall condo supply above its historical 10-year average. Prices nonetheless climbed in all three categories: single-family median at $639,000 (+7%), condos at $430,000 (+2%), and plexes at $850,000 (+8%). Days on market declined across the board, with singles at 39 days, plexes at 48 days, and condos at 53 days. The February data reinforce the trend of a market stabilizing at a higher price plateau, underpinned by ongoing supply constraints outside the condo niche. “February’s data confirms that the Montreal CMA residential market is entering a sales stabilization phase,” said Charles Brant, QPAREB Market Analysis Director. (apciq.ca)

What happened (Section 1)

January 2026 Snapshot

• Transactions: 2,364 in Montreal CMA, down 15% year over year. Plexes led the gains in sales within a backdrop of declines in single-family homes (-17%) and condominiums (-18%). These numbers and category splits come from APCIQ’s January 2026 Centris statistics. (apciq.ca)
• Prices: All major categories rose. Median single-family price hit $615,000; condos $428,000; plexes $841,800. The price resilience occurred even as overall activity slowed, illustrating a demand base that remains online for scarce supply. Days on market remained relatively brisk for a January market, underscoring sellers’ appetite in a constrained inventory environment. (apciq.ca)
• Supply dynamics: Condo listings rose notably (+18%), while single-family and plex listings were steadier (+1%). This differential supply pattern set the stage for ongoing price pressure in the condo segment and continued strength for plexes and single-family homes with limited inventory. (apciq.ca)
• Expert context: The APCIQ release framed January as a month where price momentum persisted even as activity cooled, with a persistent shortage of properties for sale cited as a key driver. The press release also highlighted geographic nuances, noting Vaudreuil-Soulanges posted some resilience while other submarkets saw sharper declines. (apciq.ca)

February 2026 Snapshot

• Transactions: 3,930 for the Montreal CMA, down 3% from February 2025. While activity slowed modestly, the market showed signs of stabilization, particularly in the Island of Montreal where sales remained steadier than in periphery zones. Plexes again carried momentum (+1%), while single-family and condos lagged slightly (-1% and -7% respectively). (apciq.ca)

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• Prices: Price growth persisted across all categories: single-family median $639,000 (+7%), condos $430,000 (+2%), plexes $850,000 (+8%). The broad-based price gains occurred despite a higher level of condo listings, signaling a shifting balance but not a price rollback. (apciq.ca)
• Inventory and days on market: Condo supply surged (+20%), contributing to a broader sense of market rebalancing in the Island of Montreal while single-family markets on the North and South Shores remained tight. Days on market shortened across all segments, reflecting ongoing buyer interest in a market that remains supply-constrained relative to demand. (apciq.ca)
• Expert insight: The February release quotes Brant emphasizing the transition toward a more sustainable pace, with inventory expansion particularly in the condominium sector giving buyers more choices while still leaving sellers in favorable position in key segments. This delineation between condo rebalancing and tight single-family markets helps explain the nuanced Montreal housing market 2026 trend. (apciq.ca)

Context and broader signals

Beyond the January and February datapoints, national context from RBC reinforces the Montreal-specific narrative. Montreal has been singled out as a market where price resilience persists in the face of national headwinds, thanks to tight local inventory and ongoing demand from households seeking ownership in a major Canadian city. The RBC March 2026 outlook underscores that while markets like Toronto and Vancouver remain under more pronounced pressure, Montreal’s price trajectory remains firmer, aided by inventory discipline and favorable financing conditions, even as the broader market softens. This cross-piece view helps readers understand how the Montreal housing market 2026 trend fits into a national mosaic. (rbc.com)

Section 2: Why It Matters

Price resilience amid tight inventory

Montreal’s ability to maintain price growth in January and February 2026, even as overall transactions retreat, signals the persistence of demand in a city where supply remains a defining constraint. The January data show a 15% YoY drop in transactions but a notable uplift in median prices across all property types, a pattern echoed in February as prices rose again even as activity cooled. This dynamic—demand meeting substantially limited supply—helps explain why Montreal housing market 2026 trend remains price-supportive relative to many other Canadian regions experiencing more pronounced declines. The RBC reports specifically call out Montreal as a market where prices remain elevated and seller leverage persists until inventory expands meaningfully. (apciq.ca)

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Divergent trends across property types

The February 2026 data highlight a nuanced landscape across property categories. Plexes are the standout, showing the strongest price momentum and relatively robust listing activity that still keeps them in high demand due to investment appeal and limited stock. Single-family homes continue to command high prices but face tighter sales dynamics in some pockets, while condos show signs of rebalancing as listings surge. This heterogeneity matters for readers who want to understand where value and risk lie in the Montreal housing market 2026 trend. Brant’s commentary about condo rebalancing on the Island of Montreal versus tighter conditions on the periphery illustrates why a one-size-fits-all view would be misleading. (apciq.ca)

Implications for buyers, sellers, and investors

• Buyers: The stabilization in late 2025 into early 2026, paired with gradually expanding condo inventories, could translate into more choices and incremental price relief in certain segments. However, continued price resilience in the single-family and plex markets means buyers still need to be prepared with financing and a clear long-term plan. RBC’s Canada housing updates emphasize how interest rate expectations and immigration flows influence Montreal’s demand dynamics, suggesting buyers should monitor rate trajectories and supply signals closely through spring 2026. (rbc.com)

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• Sellers: The market’s pricing power remains anchored by tight inventory, particularly for non-condo segments. This means well-priced listings in desirable submarkets can still attract competitive offers, while overpricing in a supply-constrained environment could dampen momentum. The February data’s 39–67 day range for market time across categories reinforces that the window to price strategically is narrow. Brant’s commentary also underscores the risk of relying on momentum alone and the value of timing and pricing discipline. (apciq.ca)
• Investors and developers: The mix of price resilience and rising condo supply highlights ongoing opportunities, especially in multifamily and plex segments where demand remains robust. The February surge in condo listings suggests a potential shift toward more balanced cap rates in some submarkets, while the tight single-family market may keep pressure on rent growth and acquisition costs. Industry outlooks from RBC and CMHC also corroborate that the Montreal market may diverge from other big centers as 2026 unfolds. (apciq.ca)

Section 3: What’s Next

Spring 2026: a transitional phase

Looking ahead, analysts expect Montreal to move through a transitional phase in 2026, with inventory gradually rebounding and demand stabilizing as rate expectations coax buyers back into the market. RBC’s March 2026 update notes that while national markets face price pressure in many centers, Montreal’s trajectory is comparatively resilient, aided by tight supply and a steady, albeit cautious, improvement in confidence. The Bank of Canada’s policy stance and anticipated interest rate environment remain a key variable shaping the pace of any rebound. The combination of rate stability and persistent supply constraints could continue to push prices higher in select segments while dampening the pace of activity growth across the board. (rbc.com)

Watchlist: key indicators and milestones

• Inventory trends: The February report shows condo listings surging to a level above the ten-year average and overall market listings edging higher in some submarkets. If inventory continues to rise, price momentum could moderate, especially in condos, as buyers gain more options. Conversely, if inventory remains constrained in critical submarkets, price stability or appreciation could persist in a narrow range. (apciq.ca)
• Price trajectory by segment: Monitoring the condo segment’s rebalancing versus the continued strength of plexes and single-family homes will be essential for readers and stakeholders trying to gauge the health of the Montreal housing market 2026 trend. The February data point to segment-specific dynamics that can influence investment and planning decisions. (apciq.ca)
• Financing and immigration: RBC’s Canada housing outlook underscores that immigration and interest rate expectations will continue to shape demand. Montreal’s resilience in early 2026 is partly tied to financing conditions that support buyer capacity and to demographic tailwinds in Quebec’s large urban centers. Stakeholders should watch policy signals, bank guidance, and migration patterns as spring unfolds. (rbc.com)

What’s next for Montréal Times readers? We will continue to monitor APCIQ/QPAREB Centris releases, RBC economic briefings, and CMHC outlooks to map how the Montreal housing market 2026 trend evolves. Expect periodic updates on January–March data, with deeper dives into submarket performance (Island of Montreal vs periphery, condo markets vs single-family markets) and how technology-enabled data platforms are helping buyers, sellers, and policymakers navigate the market with greater clarity.

Closing

In sum, the Montreal housing market 2026 trend as observed in early 2026 data shows a city where prices hold firm amid tighter supply and a cooling swap in activity. January’s 2,364 transactions and February’s 3,930 transactions illustrate a market that is slowing in volume but not in price, a pattern reinforced by expert commentary from APCIQ and RBC. As Montreal eyes a spring selling season, the balance between inventory gains and demand strength will be the defining factor driving the next chapter. For readers seeking the latest, the best sources remain Centris-based APCIQ/QPAREB releases, RBC’s national housing briefs, and CMHC’s market outlooks, which together offer a data-driven lens on the Montreal housing market 2026 trend. Stay tuned for monthly updates as new Centris data roll out and the market continues to reveal its evolving dynamics.

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