MONTREAL — The Quebec Professional Association of Real Estate Brokers has reported a significant increase in home sales in the Montreal area, highlighting a remarkable 36 percent rise year-over-year for January. This surge in activity reflects a broader trend in the housing market as buyers appear to be re-entering the market in substantial numbers, driven by a combination of recent interest rate cuts and newly implemented homeownership initiatives.
In January 2025, the total number of homes sold in the Montreal region reached 2,812, a notable increase from the 2,063 sales recorded in January 2024. This figure not only showcases a year-over-year growth but also exceeds the historical average for January by 10 percent, indicating a robust market performance.
Charles Brant, the market analysis director for the association, remarked on the sustained interest from buyers, attributing it to favorable financing conditions and state support for new homeowners. These factors combined are providing the necessary impetus for buyers who may have previously been sidelined during less favorable economic conditions.
Moreover, the report reveals noteworthy increases in home prices. The median price of single-family homes has climbed by 11 percent to reach $590,700, while the median price for condominiums has risen eight percent, bringing the figure to $420,000. Such price increases suggest a competitive market, driven by high demand amid limited supply.
The number of new listings in the Montreal area also saw an improvement, with 6,220 new properties entering the market in January, which is an 18 percent increase compared to the same month in the previous year. This influx of new listings could potentially help balance the market dynamics by providing more options for buyers looking for homes.
Conversely, active listings in the region experienced a slight decline, falling four percent year-over-year to total 15,723. This reduction in active listings coupled with the significant uptick in sales underscores the competitive nature of the current real estate market in Montreal.
As a result of these trends, the Montreal real estate market appears to be on an upward trajectory, bolstered by favorable economic conditions and a renewed interest in homeownership. The interplay between increased buyer activity, rising prices, and the fluctuation in listings paints a picture of a dynamic market responding to both consumer confidence and evolving financial support for potential homebuyers.
