Statistics

Real estate: nothing seems able to slow the surge in prices

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Despite a darkening economic climate, the Quebec real estate market demonstrated remarkable resilience in the third quarter.

A total of 22,690 properties changed owners between July and September 2025, an increase of 11% compared to last year and the highest level since 2020. The average home prices have decreased by 1,4% in British Columbia and by 1,6% in Ontario, but the average home prices have risen by 10% in Quebec.

canada provinces price index
Quebecers seem doomed to pay more and more to become homeowners, with an average median increase of 9% over the past year on single-family homes.  This is revealed by the latest data from the Quebec Professional Association of Real Estate Brokers (APCIQ), which is based on information compiled by Centris between July and September 2025.
QC home prices
This price increase hardly surprises APCIQ economist Hélène Bégin. It results, she says, from the ‘combination of consistently strong demand from experienced buyers and a supply of properties significantly below the historical average. Moreover, the number of days required to sell a property has decreased by 20% compared to last year. It now takes an average of 44 days for a single-family home to find a buyer, which is 11 days less than during the same period in 2024.

Towards spring awakening

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Spring money growth2023 ended with a slight decline in sales and home prices in the Greater Montreal area. But the market should recover soon, perhaps at the same time as nature, at the end of winter, experts predict.

According to real estate firm Royal LePage, we saw some “passivity” from buyers in 2023 as the year saw widely reported increases in mortgage rates. And while there may seem to be an increase in the number of “For Sale” signs on city streets, supply remains “historically” low. In the Montreal region, the number of homes on the market is currently 47% lower than the average over the past decade. However, not everything is so gloomy and hopeless. In its report, Royal LePage noted that demand for property viewings is already growing. This certainly means that potential buyers are expecting better deals this year and are already in the home-hunting phase.

New house keys transferThis is exactly what realtors observe in their practice. “They have a lot more calls, a lot more visits,” confirms Dominic St-Pierre, vice-president and general manager of Royal LePage, Quebec region. He predicts a “hot” spring market. Which has nothing to do with temperature, he clarifies. Buyers are waiting for real reassurance about the Bank of Canada’s intentions and lower mortgage interest rates. “And even if the decline does not happen now,” adds Mr. St. Pierre, but at least in the near future. Once this is done, we should see a gradual return of life, especially among buyers who have put their projects on hold to wait for these more favorable conditions.

The market recovery will not be as strong as in 2021, which was exceptional, but “the market should be very active again,” says Dominique St-Pierre, “like before the pandemic, when the real estate market in Montreal was very active.”

Home owners can be sure that their property continues to increase in value. Statistics for 2023 confirm the rise in residential property values both in Montreal and throughout Quebec. Average property prices are expected to rise another 5% in 2024.

If we observe the market over a longer period, we note a 30.6% increase in property values over the past four years in the Montreal region – from the end of 2019 to the end of 2023.

Fall – winter 2023: what to expect from real estate market prices?

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thinkingThose who were planning to buy a house this fall are probably keeping an eye on rising mortgage interest rates. And not only them. Those, who have already purchased property and are due to renew their mortgage this year, are also watching with bated breath what disputes flare up in the press over the growing banking interests. It is now becoming clear that housing prices will not rise soon, but will most likely fall, primarily for apartments (condominiums or condos for short), which are less popular than houses.

My clients who were qualified by the bank to buy a $500,000 home in 2022 are only qualifying to buy a $400,000 home or condo this year. Therefore, many of them believe that it is better to buy a good condo than a bad house. It should be considered that buying a condo is much more complicated than buying a house because you are not only buying your personal space, but also common areas with limited use, such as balconies or parking spaces. Each owner must respect the rules of living in the building. For example, it may be prohibited to have dogs, barbecue on the balcony, or wash your car in the parking lot.

Once the buyer’s offer has been accepted by the seller, the future owner has 10 days to review the annual meetings and financial statements for the last 3 years. If the buyer is not satisfied with the financial situation of the co-ownership, for example, at a meeting in 2021, a decision was made to replace the roof in 2024 and the approximate estimate is $200,000. However, the co-ownership has barely $50,000 in its account, which is definitely not enough and threatens urgent additional payments. This is a valid reason for refusal of purchase.

Here are two interesting condo options in Brossard on the South Shore of Montreal:

Condo 3 bedrooms and garage, 359 000$:

505 Rue St-François, app. 204

Condo 2 bedrooms and garage, 298 000$:

2540 Rue Nassau, app. E, Brossard

There are also attractive proposals in Montreal:

Condo 2 bedrooms and garage, 347 700$:

8295 Rue Sherbrooke E., app. 41, Montreal
8295 Rue Sherbrooke E., app. 41, Montreal

Condo 3 bedrooms and garage, 359 000$:

853 Ch. du Bord-du-Lac-Lakeshore, app. C, ( Dorval), Montreal
853 Ch. du Bord-du-Lac-Lakeshore, app. C, ( Dorval), Montreal

Always ready to help you, Olga Ouspenski, real estate broker with 20 years of experience. Contact me : +1-514-999-9260, , or here  www.OlgaOuspenski.net/.

Autumn news of the Montreal real estate market

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I finally got numbers for real estate sales in October 2022, so I can look at what is happening in the Montreal real estate market and the surrounding area.
House prices have been dropping, as they usually do in the autumn, after the end of the spring and summer home buying season.
However, the market is still in favour of the sellers. Unfortunately, the choice of good houses in good areas of Montreal and on the South Shore (Longueuil, St-Hubert, St-Bruno, etc) remains poor. Detached houses no older than 30 years, are sold in Longueuil for more than $600000, in Montreal – $800000 and more.
Compared to October last year, prices for single-family houses in Quebec have increased by 9%, and for 2-plex and 3-plex by 21%. But this is already lower than prices were this spring.
Prices began to decline for “illiquid housing markets”, i.e. badly located or in need of major repairs. Such houses now “hang” and if someone wants to make renovations to his style, he can bargain and buy such a house.
At the present, the buyers have the chance to buy a new, more spacious house by selling the existing one.  In the spring, it was impossible to do this because there were multiple offers on every house, with 20 or 30 buyers for one house.

What to expect in November and December?

November and December are historically 2 of the 3 best months to buy a home if you want a deal.
Economists predict that the Bank of Canada will raise its interest rate again this year before interest rates stabilize. If the Canadian economy falls into recession, we could see mortgage rates drop starting in late 2023.
Of course, life does not stop and, as always, in the spring, a revival in the real estate market will begin. Therefore, buyers would be wise to obtain a pre-approval letter and lock in today’s mortgage rate for 90 days, then attempt to buy a house or condo in January, when prices will be lowered.
I wish to remind you that under the new law of 2022, the buyer is required to have their own real estate agent. The seller’s realtor is not authorized to represent the interests of the buyer and the seller at the same time.
Some proverbs give good advice, like “Luck is what happens when preparation meets opportunity.”
Please contact me, and I will be happy to help you become the owner of a new house or condo.

La fin de la double représentation

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A partir du 10 juin 2022, les agents immobiliers ne pourront plus représenter simultanément les intérêts de l’acheteur et du vendeur de biens immobiliers. Cette mesure vise à réduire l’effet de la surchauffe immobilière, mais surtout à mieux protéger les acheteurs dans le cadre d’une transaction et à éviter les conflits d’intérêts. Désormais, l’acheteur doit avoir son propre agent immobilier qui l’aidera à déterminer le prix d’achat, à préparer une offre (offre) et sera avec lui jusqu’à la réception des clés. L’agent immobilier du vendeur n’aura qu’à représenter ses intérêts et n’aura même pas le droit de montrer la propriété à l’acheteur sans un autre agent immobilier.
Je vous rappelle que mes services pour les acheteurs sont gratuits. Mon travail consiste non seulement à vous aider à trouver la maison ou l’appartement de vos rêves, mais aussi à préparer tous les documents nécessaires à l’achat. Après tout, comme vous le savez, toutes les conditions et exigences de l’acheteur doivent être consignées dans les documents d’achat, comme la vérification du sol pour les bactéries qui se nourrissent de fer et, par conséquent, peuvent endommager les tuyaux de la maison, ou la présence de pyrite dans les fondations, qui peut entraîner de nombreuses fissures dans les murs de la maison.

En utilisant le moteur de recherche immobilier www.Centris.ca, je vous montrerai toutes les maisons/appartements vendus dans le secteur au cours des 4 derniers mois et il vous sera immédiatement clair si vous donnez le bon prix pour une maison ou un appartement avec caractéristiques similaires, telles que l’année de construction, le nombre de chambres, de garages, etc.

Il y a beaucoup de subtilités que vous ne connaissez même pas, mais les manquer dans vos documents d’achat de maison peut vous coûter cher à l’avenir.

Avec mes 20 ans d’expérience en tant qu’agent immobilier, vous serez entre de bonnes mains et l’achat d’une maison restera dans votre mémoire non pas comme une situation stressante avec des nuits blanches, mais comme un événement agréable et significatif dans la vie.