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Canada  + Alberta & Prairies + Ontario + Pacific Canada + Quebec  + Apartments  | 
Montreal condo prices rose in the first quarter of 2024.

Montreal Condo Prices Rise in First Quarter

Montreal condominium prices rose in the first quarter as residential sales soared across Quebec.

The median price of a Montreal condo climbed 4% year-over-year, the Quebec Professional Association of Real Estate Brokers (QPAREB) reported. Meanwhile, total Quebec residential sales were up 17%.

The double-digit sales gain was Quebec’s first since 2021, a span of 10 quarters.

Charles Brant, QPAREB’s market analysis director, attributed the rise to lower inflation and the Bank of Canada’s softer stance on interest-rate cuts.

“This context has inevitably led to many homebuyers deciding to take action in anticipation of a potential overheating,” said Brant.

Montreal’s 4% median condo price boost was below the province-wide 5% gain. But Montreal’s median price of $395,000 was above the province-wide median of $365,000.

The city’s overall residential sales jumped 20% to 10,407. Total Quebec sales listings also increased 20% year-over-year, to 36,666.

But listings still remain well blow the historical average.

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Inside The Story

QPAREBCharles Brant

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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