Residential property sales in the Montreal census metropolitan area fell by 8.2% in June 2024 compared to the same month last year, totaling 4,012 transactions. Despite the drop in sales volume, property prices continued to rise across all categories, while the total inventory of homes for sale grew for the 11th consecutive month, according to data from the Quebec Professional Association of Real Estate Brokers (QPAREB).
Montreal Real Estate Market Performance in June
The decline in sales volume to 4,012 transactions in June represents a notable cooling compared to the 4,371 sales recorded in June 2025. This contraction in activity occurred alongside a significant increase in available supply. New listings rose by 11.1% year-over-year to 6,648, while the total active inventory climbed 17.4% to reach 20,894 properties.
Why Are Property Prices Still Rising?
Despite lower transaction volumes and higher inventory, median prices for all residential property types saw year-over-year gains in June. The QPAREB reported the following price shifts:
- Plexes: The median price rose 5.9% to $880,000.
- Single-family homes: The median price increased 3.5% to $649,000.
- Condominiums: The median price saw a modest growth of 2% to $435,000.
What Should Buyers and Sellers Expect Next?
Key Market Indicators: June 2024 vs. June 2023
| Metric | Change (Year-over-Year) |
|---|---|
| Sales Volume | -8.2% |
| New Listings | +11.1% |
| Total Inventory | +17.4% |
| Median Price (Plex) | +5.9% |
| Median Price (Single-family) | +3.5% |
| Median Price (Condo) | +2% |
Source: Data derived from the Quebec Professional Association of Real Estate Brokers (QPAREB) monthly report.
Frequently Asked Questions
Is the Montreal market becoming a buyer's market?
Why are prices increasing if sales are dropping?