Have housing prices dropped in Montreal?
Rachel Fowler
Updated on April 06, 2026
Have housing prices dropped in Montreal?
The Quebec Professional Association of Real Estate Brokers says sales in Montreal totalled 4,320 in October, down from 5,684 in October 2020. The drop came as the median price of a single family home rose to $515,000 from $430,250 a year ago, while the median price for a condominium rose to $379,900 from $322,500.
How much is a house in Montreal Canada?
The average house price in Montreal is $506,800
| Average House Price in Montreal | ||
|---|---|---|
| 2017 | 2019 | |
| December | $330,900 | $360,900 |
| Source: CREA 2019 | ||
| *Updated |
Is Montreal real estate overpriced?
Canadian real estate is massively overvalued, said a global credit rating giant. Moody’s estimates the average urban market in Canada is 22% overvalued as of Q2 2021. Large overvaluations were also seen in Toronto (39.5%), Montreal (25%), and Vancouver (23%).
How much do I need to buy a house in Montreal?
The National Bank of Canada has priced the average non-condo residence in Montreal at a modest $446,648. To afford that, buyers will need an average household income of $91,083 and about 39 months’ worth of savings — that’s just over 3 years.
Will houses prices go down in 2021?
Home values skyrocketed by nearly 20% at many points in 2021. While housing prices aren’t expected to drop in 2022, the increasing rate of prices should slow down. Many experts believe home values will increase at roughly half the rate (single-digit increases) we saw during the peak of 2021.
Is Montreal a good place to live?
Living in Montreal is excellent, and it is ranked as one of the world’s most livable cities and considered one of the world’s happiest locations. With 45.000 immigrants opting to relocate to the city every year, it is a common choice for people looking to move abroad.
Is the Montreal housing market going to crash?
Despite lingering concerns from the Canada Mortgage and Housing Corporation (CMHC) and others about the precarious nature of the country’s housing market, there remains little risk of a crash, according to Scotiabank vice president and head of capital markets economics Derek Holt (pictured).
Who can afford a house in Montreal?
Buying a house in Montreal is no easy feat, and according to a new report from the National Bank of Canada, you now need more than $100,000 in annual household income to afford it.
