Montreal May real estate market booms despite rising prices
May 2025 QPAREB recap
Montreal real estate market continues to soar, recording another significant increase in May despite the prevailing climate of instability, rising housing prices and higher mortgage rates.
According to the latest report from the Quebec Professional Association of Real Estate Brokers (QPAREB), real estate sales in the Montreal Census Metropolitan Area (CMA) reached 4,992 transactions in May, an increase of 10% compared to the same month in 2024 and 13% compared to 2023.
“Despite ongoing economic uncertainty, the Montreal real estate market was very active in May and showed no signs of slowing down. Last month’s increase in transactions follows similar gains of 11 per cent in March and 10 per cent in April – this, despite mortgage rates that have yet to come down,” notes Charles Brant, QPAREB Market Analysis Director.
Source: Quebec Professional Association of Real Estate Brokers
The decline of listings is driving up prices
However, market conditions remain strongly in favour of sellers in the region, with listings increasing by only 2%. This situation has had an impact on property prices, which have continued to show solid growth. In the Montreal area, the median price of single-family homes rose 9% compared to May 2024, reaching $625,000. The condominium and 2- to 5-unit plex segments saw more moderate price increases of +4% and +5%, respectively.
“There are no signs of a lull in price growth. The 9% year-over-year increase in the median price of a single-family home across the metropolitan area is fully in line with the gains posted in March (8%) and April (9%). Moreover, about one in seven homes sold above the asking price last month.”, says Charles Grant.
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Plexes are all the rage
Plexes, which comprise 2 to 5 residential units, are the most popular on the market, with a 19% increase in sales in May compared to 2024. Single-family homes rank second with a 12% increase, while condominiums are less popular, with only a 5% increase compared to May 2024.
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.