Real estate Montréal : Real estate statistics December 2024

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January 9, 2025

Real estate Montréal : Real estate statistics December 2024

Main information:

Strong sales growth: up 54% on December 2023, reflecting sustained demand.
Rising median prices: +10% for single-family homes and plexes, confirming the attractiveness and value of our properties.
Diversified offering: increase in new listings (+21%) and existing listings (+8%), giving buyers more choice.
Stable sales lead times: average lead times kept under control despite the abundance of offers, offering a balanced market between buyers and sellers.
Opportunities for all profiles: whether you’re looking to live or invest, the Montreal market meets a variety of needs with strategic options.

The month of December 2024 confirms the strength of the Montreal real estate market, characterized by sustained sales growth and dynamic activity. Despite an economic context marked by persistent challenges, buyer interest remains intact, buoyed by falling interest rates and the implementation of mortgage reforms.

The figures are revealing: a 54% increase in sales compared with December 2023, a 64% increase in sales volume, and median prices that continue to rise in every segment, particularly for single-family homes (+10%) and plexes (+10%). These performances underline the resilience and continuing attractiveness of the Montreal market.

While sales lead times remain relatively stable, condominiums continue to top the list of transactions. December shows that Montreal is maintaining a balanced dynamic, with legislation facilitating access to property and financing for buyers, and attractive sales price dynamics enabling sellers to realize handsome capital gains, all of which offer significant opportunities for every profile on the market.

Let’s take a look at the detailed statistics for this landmark month.

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Montreal real estate market – December 2024
Montreal property prices – December 2024
Sales lead times and distribution of properties sold in Montreal -December 2024
Registrations and sales volume in Montreal – December 2024

Montreal real estate market – December 2024

In December 2024, the real estate market on the island of Montreal is characterized by marked growth. The total number of transactions reached 1,201 sales, up 51% compared with December 2023, confirming sustained demand despite a sometimes uncertain global economic context.

A growing and diversified offering

On the supply side, new listings rose by a significant 21% to 1,119 this month. This increase offers a wider range of choices for buyers, covering a variety of properties such as single-family homes, condominiums and plexes. At the same time, the total number of active listings is up 8% compared with December 2023.

A steadily growing market

Sales volume on the Island of Montreal totaled $845.4 million, an impressive 54% increase over the previous year. This performance reflects not only intense activity, but also the ongoing enhancement of properties on the island. In fact, the median price for single-family homes climbed to $760,000, an increase of 10%, while that for condominiums reached $465,000, up 4%.

Sales lead times and buyer behavior

Sales lead times show a certain stability despite the influx of offers: condominiums have an average lead time of 75 days, up slightly (+1 day), while single-family homes show a reduction, from 66 days to 60 days. This phenomenon illustrates active demand and faster decision-making for certain types of property.

In short, December 2024 highlights a resilient and dynamic market, offering a positive outlook for all players in the Montreal real estate sector.

Find out more about this month’s statistics in an infographic:

The data comes from the APCIQ (Association Professionnelle des Courtiers Immobiliers au Québec), see the full report here.

Montreal property prices – December 2024

In December 2024, median prices on the island of Montreal continued to rise compared to 2023, underlining the market’s continued appeal to a diverse range of profiles: families, young professionals and investors. The data reveal a generalized rise in prices for all property categories.

Statistics	Median prices – December 2024	Annual variation
Single-family homes	760 000 $	+10%
Condominiums	465 000 $	+4%
Plex (2-5 units)	840 000 $	+10%

Single-family homes

Single-family homes continue to show significant growth, with a median price of $760,000, up 10% on December 2023.

This segment remains popular with families, attracted by quiet residential neighborhoods and properties offering more space to meet their needs. These factors, along with CMHC’s increase to 1.5 million for insured loans, support robust demand and explain the sustained valuation of these properties.

Condominiums

Condominiums recorded a more moderate increase, with a median price of $465,000, up 4% year-on-year. This type of property remains highly sought-after by young buyers and urban professionals, particularly in central neighborhoods where the offer combines convenience, modernity and accessibility. This trend confirms their appeal as an affordable option for first-time buyers, and a practical one in a competitive market.

Plexs (2-5 units)

Plexes, the real pillars of the Montreal rental market, have seen their median price jump to $840,000, marking a 10% year-on-year increase. These properties continue to attract investors, attracted by their ability to offer stable rental income and long-term appreciation potential. They also meet a dual demand: investment property and owner-occupied housing.

This rise in median prices in the three main categories testifies to the resilience of the Montreal real estate market and its continuing attractiveness. Buyers and investors will find solid opportunities, supported by dynamic demand and diversified supply. Montreal has confirmed its position as a popular destination, offering interesting prospects for both property valuation and investment strategies.

“December 2024 confirms that Montreal remains a market in demand. With single-family homes that meet the needs of families, condominiums ideal for city dwellers, and plexes that still appeal to investors, every property segment continues to gain in value. Montreal is, more than ever, a city to invest in with confidence.”

Kyle Shapcott, leader in real estate

Sales lead times and distribution of properties sold in Montreal – December 2024

Property sales lead times in Montreal – December 2024

As of December 2024, average selling times on the Island of Montreal vary slightly by property category. This trend reflects a market where buyers have more time to evaluate their options, against a backdrop of rising supply.

Single-family homes: The average sales time is 60 days, down 6 days on December 2023. This reduction indicates solid demand for this type of property, particularly from families who are taking advantage of the many options offered by new listings and the end-of-year momentum to act quickly.
Condominiums: The average lead time for condominiums was 75 days, a slight increase of 1 day on last year. This segment remains attractive, but the abundance of supply means that buyers are taking their time before concluding a transaction.
Plex (2 to 5 units): Plexes record an average lead time of 78 days, an increase of 1 day. This relative stability reflects the caution of investors, who carefully examine rental yields and project profitability before finalizing their purchase.

These modest variations in lead times testify to a balanced market, where supply and demand evolve in tandem, enabling the various players to act thoughtfully and strategically.

Sales breakdown

The breakdown of sales in December 2024 continues to highlight the diversity of the Montreal market, with condominiums predominating, followed by single-family homes and plexes in almost equal proportions.

This breakdown reflects the varied needs of buyers and their search for solutions tailored to their profiles.

Condominiums: Leading the way in transactions, condominiums accounted for 56% of total sales this month. Their dominance in the inventory, affordability and presence in vibrant, central neighborhoods continue to attract young professionals and first-time buyers, as well as investors looking for stable returns.

Single-family homes: Single-family homes account for 24% of sales, confirming their appeal to families and buyers looking for larger, quieter living spaces. The increase in listings in this segment offers more opportunities, stimulating transactions.

Plex (2 to 5 units): Finally, plexes accounted for 20% of sales, consolidating their role as the preferred asset of investors. Their stable rental yields and long-term value enhancement potential keep them attractive, even in a demanding financing environment.

With sales lead times under control and a stable distribution of sales between each segment, the Montreal market is showing great maturity. While condominiums dominate thanks to their affordability, single-family homes and plexes continue to meet the specific needs of families and investors.

These trends reinforce the resilience of the Montreal market, which remains a prime destination for strategic acquisitions. With a diversified offer and a balance between supply and demand, the market offers interesting opportunities for 2025.

Registrations and sales volume in Montreal – December 2024

As of December 2024, listings and sales volumes on the Island of Montreal continue to reflect a booming market, supported by increased supply and steady demand.

Statistics	December 2024	Annual variation
Active listings	7 539	+8%
New listings	1 119	+21%
Sales volume	845 467 059 $	+54%

Inventory growth

The number of new listings jumped by 21% in December, reaching 1,119, while active listings were up 8%, with 7,539 properties on the market. These increases offer buyers a wider choice, meeting the varied needs of different profiles: first-time buyers, families or investors; in different segments: single-family homes, condominiums, and plexes.

This dynamism is particularly advantageous for buyers, who have a more abundant supply at their disposal, enabling them to negotiate with confidence and find properties suited to their objectives and needs. For sellers, this reflects a market where buyer interest remains robust.

Significant sales volume

Total sales volume reached an impressive $845.5 million, up 54% on December 2023. This increase illustrates not only the vitality of the market, but also the continuing appeal of Montreal as a popular real estate destination.

Single-family homes and plexes in particular stand out, attracting buyers looking for spacious, stable properties for families, or solid investments for investors. At the same time, condominiums, although affordable, are also contributing to this growth, thanks to their popularity with young professionals and first-time buyers.

These indicators confirm the resilience of the Montreal real estate market, where an expanded supply meets sustained demand. This dynamic allows the market to respond effectively to the expectations of a diversified clientele, from buyers looking for a home to investors wishing to capitalize on a growing market.

With a promising start to 2025, the Montreal real estate market offers exceptional opportunities for those wishing to buy, sell or invest in a stable and dynamic environment.

Don’t miss any market analysis with our monthly real estate statistics:

Conclusion

December 2024 closes a year marked by the resilience and vitality of the Montreal real estate market. With significant growth in sales (+54%), an expanded offering and rising median prices in all segments, Montreal has confirmed its attractiveness to buyers and investors alike.

While mortgage reforms and falling interest rates continue to stimulate access to home ownership, the stability of selling times and the diversity of opportunities on the market offer balanced and favorable conditions. In 2025, Montreal remains a leading real estate destination, ready to meet the expectations of a diverse clientele in a dynamic and constantly evolving environment.

If you want to take advantage of the market and realize a real estate project, put your trust in our team of real estate brokers.

Kyle Shapcott

kyle@equipels.com

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Kyle has been an expert on the real estate market for over 10 years. He is passionate about Montreal and the city’s real estate sector and regularly shares his analysis and advice in his articles.

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