Half of February Single-Family Home Sales Top $600,000 in the Montreal Area

• February sales in the Montreal area are comparable to the two strong years preceding the pandemic.
• This performance resulted in a 7 per cent increase in transactions compared to February 2024, which was a month of strong market recovery.
• This market vitality is partially attributable to single-family home sales in Saint-Jean-sur-Richelieu (+43 per cent) and Vaudreuil-Soulanges (+20 per cent), while condominium sales on the
  South Shore rose by 15 per cent.
• The sustained activity implies a rapid absorption of active listings, which remained well below the historical average. Listings declined by 4 per cent, which is less than expected for this time of year.
• As a result, market conditions continue to strongly favour sellers, with a much higher proportion of single-family home sales (14 per cent) concluded following an overbidding process.
• This market imbalance continues to support sustained price growth, driven by lower interest rates and the recent introduction of incentives.

L’ÎLE-DES-SOEURS, Quebec, March 07, 2025 (GLOBE NEWSWIRE) — The Quebec Professional Association of Real Estate Brokers (QPAREB) has just released its residential real estate market statistics for the month of February 2025. The most recent market statistics for the Montreal Census Metropolitan Area (CMA) are based on the real estate brokers’ Centris provincial database.

Residential sales in the Montreal CMA totalled 4,088 transactions in February 2025, up by 7 per cent compared to the same period last year. Transaction activity is thus comparable to the historical average recorded for this month of the year.

“The psychological threshold of a $600,000 median price for a single-family home in the greater Montreal area has just been reached for the second time since November. The fact that this price level has been reached is attributable to a sharp increase in activity since last autumn, in parallel with a substantial decrease in the key interest rate that began in June 2024 and continued until the end of January 2025. In general, prices in the residential sector continue to rise steadily, with a 9 per cent increase across all categories in the Montreal area,” notes Charles Brant, QPAREB Market Analysis Director. “This rapid growth can be explained in particular by a resurgence of overbidding in the mid-range price segment for single-family homes, i.e., between $400,000 and $600,000. In this highly sought-after segment, 20 per cent of sales are concluded following an overbidding process, compared to 11 per cent for the market as a whole. This is partly due to an upsurge in the combined market activity of first-time homebuyers and young repeat buyers, motivated by sharply declining interest rates. As for the higher-end segment—homes priced above $700,000—activity appears to be slowing. There is an increasing number of properties in this price range waiting for buyers. It is clear that in an economic environment that has suddenly become much more uncertain, more expensive properties are more exposed to buyer hesitation and lender caution.”

Additional information:

Detailed and Cumulative Monthly Statistics for the Province and Regions

If you would like additional information from the Market Analysis Department, such as specific data or regional details on the real estate market, please write to us.

About the Quebec Professional Association of Real Estate Brokers

The Quebec Professional Association of Real Estate Brokers (QPAREB) is a non-profit association that brings together more than 15,000 real estate brokers and agencies. It is responsible for promoting and defending their interests while taking into account the issues facing the profession and the various professional and regional realities of its members. The QPAREB is also a major player in many real estate dossiers, including the implementation of measures that promote homeownership. The Association reports on Quebec’s residential real estate market statistics, provides training, tools and services relating to real estate, and facilitates the collection, dissemination and exchange of information. The QPAREB has its head office in Quebec City, administrative offices in Montreal and regional offices in Saguenay and Rouyn-Noranda. It has two subsidiaries: Société Centris inc. and the Collège de l’immobilier du Québec. Follow its activities at qpareb.ca or via its social media pages: Facebook, LinkedIn, X, and Instagram.

For more information:

Ariane Boulé
Morin Relations Publiques
[email protected]

Image bank (credit QPAREB) available free of charge.

An infographic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/75a0be60-a7a4-419a-8409-b7ac64aaf377