Montreal residential sales dropped 13.1% in August 2026, according to the Quebec Professional Association of Real Estate Brokers. While transaction volumes fell, median prices for condos and single-family homes continued to rise.
The 13.1% drop in Montreal residential transactions
The Montreal real estate market is currently navigating what experts call an "adjustment period." According to the Quebec Professional Association of Real Estate Brokers, the number of residential properties changing hands in the Montreal census metropolitan area fell to 2,853 in August 2026. This represents a 13.1% decline from the 3,282 transactions recorded during the same month in 2025, leaving a gap of 429 fewer sales than the previous year.
Camille Laberge,a senior economist for the board, noted that the market is rebalancing as transaction activity slows down while the overall supply of homes begins to grow. This shift suggests a transition from the high-pressure environment seen in previous years to a more tempered pace of commerce within the Quebec province.
Rising costs for $437,250 condos and $650,000 single-family homes
Despite the cooling demand, property values in the Montreal area showed unexpected resilience. The Quebec Professional Association of Real Estate Brokers reported that median prices increased across every major category tracked in their August findings. Specifically, the median price for a condominium rose 3.6% to reach $437,250. Single-family homes also saw a price bump, with the median cost climbing 2.8% to $650,000.
Even the more specialized "plex" category was not immune to this trend, seeing a 1.7% year-over-year increase to a median of $856,000. In these reports, the median represents the midpoint of all sales, meaning half of the transactions occurred above these figures and half below. This indicates that even as fewer people are buying, the baseline cost of entry into the Montreal market remains elevated.
A 17.8% surge in Montreal's total housing inventory
Buyers in the Montreal census metropolitan area are finding themselves in a much different position than they were a year ago due to a significant rise in avaialble stock. Total inventory in the region climbed 17 .8% year-over-year, reaching a total of 20,128 units for sale. This growth in availability was fueled by 5,874 new listings in August, which marks a 7.4% increase compared to August 2025.
As reported by the association, total active listings are rising at a faster rate than new listings, which is steadily adding to the stock of available properties. This growing supply means that while prices are still high, prospective buyers are facing less immediate pressure and sellers are encountering more competition than they did in the previous summer.
Will the Quebec Professional Association's "adjustment period" lead to price corrections?
While the data provided by the Quebec Professional Association of Real Estate Brokers paints a clear picture of volume and price, several critical factors remain unaddressed. It is currently unclear how much interest rate fluctuations or specific local economic shifts are driving the continued price increases despite the 13.1% drop in sales. The report does not specify if the rise in inventory is concentrated in certain Montreal boroughs or if it is evenly distributed across the census metropolitan area.
Furthermore, without knowing the specific motivations of the 2,853 buyers who did close deals, it is difficult to determine if this "rebalancing" is a temporary dip or a long-term market shift. The source also leaves us wondering whether the increased competition for sellers will eventually force a downward correction in those rising median prices, or if the supply growth will simply be absorbed by the existing demand.
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