Montreal-area home sales fell 6.8 per cent on a year-over-year basis in May as the province’s real estate board says median prices continued to rise.
The Quebec Professional Association of Real Estate Brokers said 4,623 residential properties changed hands throughout the month in the Montreal census metropolitan area, down from 4,962 in May 2025.
All property categories recorded a decline in sales, but levels were consistent with the average for the previous 10 years, the board said.
Overall real estate activity has been affected by the deteriorating labour market and a shift in demographic trends “for several months now,” said the board’s market analysis director Charles Brant.
He pointed to a sharp rise in the region’s unemployment rate since the start of the year — from 6.3 per cent in January to 7.7 per cent in April — the highest level since the summer of 2016, excluding the pandemic.
“This likely contributed to greater caution among buyers,” said Brant in a news release.
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He said Montreal’s population growth has recently declined as a result of immigration-related restrictions, which has also led to moderating demand for properties.
“In this context, it is not surprising that the Montreal CMA resale market is showing some signs of slowing, especially since affordability remains an additional challenge,” added the board’s senior economist Hélène Bégin.
“Fewer properties are being sold despite the more abundant supply than a few months ago across all market segments. The inventory of available condominiums is rising at a particularly rapid pace, especially on the Island of Montreal, as well as on both the North and South Shores, thereby easing pressure on prices.”
Home prices were up year-over-year across all categories for the month, led by a 6.1 per cent increase in the median price of a plex to $875,000.
The median price of a single-family home rose 3.2 per cent year-over-year to $645,000 in May, while the median price of a condominium edged up 0.6 per cent to $430,000.
New listings in May totalled 7,564, up 1.5 per cent year-over-year, while total inventory rose 13.7 per cent to 21,073 units for sale.
That marked the 10th straight month that total supply has risen, as the number of active listings was slightly above the 10-year average.
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