Reflecting on the early third quarter, the Montreal CMA saw 3,340 residential transactions—a 10% decrease compared to last year. This trend spanned all property types and major sectors, pointing to a broad market adjustment. Interestingly, despite slower sales, prices continued to climb: plexes led the way with a 6% rise to $865,000, while single-family homes averaged $650,000, and condos reached $431,500. On the supply side, sellers had more options, with new listings up 4% to 5,260 and total inventory increasing 17% to nearly 19,800 units. Condos adjusted to these changes more quickly, yet both single-family homes and plexes also experienced reduced sales and higher supply, though sellers in those categories retained some negotiating power. The latest board data links these shifts to tempered demand, a fragile economic climate, and demographic changes—especially recent population declines in the Montreal region. As a licensed residential and commercial real estate broker, I keep a close eye on these movements to support clients navigating an evolving market in Laval and surrounding areas.
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