Montreal home sales soar despite economic uncertainty
March 2025 QPAREB update
Despite the current climate of uncertainty in the Canadian economy, the Montreal real estate market experienced a significant increase in March.
The latest report from the Quebec Professional Association of Real Estate Brokers (QPAREB) reveals that real estate sales in the Montreal census metropolitan area reached 4,975 transactions during the month, marking an 11.7% increase over the 4,455 sales recorded in March 2024. This rebound is encouraging, although the figures are still lower than in previous years.
“This level of transactional activity is slightly below the historical average for this time of year since the Centris system began compiling market data in 2000,” indicates the QPAREB press release.
Condos are more appealing to buyers
Condos in Montreal seem to be attracting more buyers, with monthly sales up 15%, for a total of 1,994 apartments sold in March. Single-family homes were more moderately successful, with 2,546 properties sold, up 8%. Plexes (comprising two to five units) were up 17%, with 433 units sold.
A rapidly expanding offering
On the supply side, activity is also on the rise. The Montreal region saw a 15.7% increase in new listings compared to March 2024, reaching 7,851 new properties put up for sale. The number of active listings rose slightly (+0.3%), to a total of 18,116.
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Real estate prices continue to rise
Although sales were up compared to last year, median house prices also followed their year-on-year rise. According to the QPAREB report, the median price of a family home now stands at $610,000, marking an 8% increase over the previous year.
The median price of condominiums in Montreal rose by 5% to $420,000. Plexes recorded the biggest increase, up 11% to an average of $830,000.
These figures contrast with real estate data published by chambers of commerce in other major cities, such as Toronto and Vancouver, where housing sales are declining due to economic concerns over U.S.-imposed tariffs. Real estate prices are also declining in these regions, unlike in Montreal, where, however, housing still remains more affordable.
Also read:
- Federal Liberals and Conservatives vow to remove GST on new home purchases
- How US tariffs on Canada could impact you — and what you can do
- How could US tariffs impact Canadian mortgage rates?
- Dropping mortgage rates made it easier to buy a home in February
- Canadian home sales plunge 10% in February due to tariff fears
- Bank of Canada cuts target interest rate by 0.25% in March 2025 announcement
Garance Hemeleers
Garance is a Bilingual Content & PR Specialist at Ratehub, based in Toronto, and originally from Brussels, Belgium. She holds a Master's degree in Marketing Communications and brings 3 years of experience in PR and media.