The 2025 Real Estate Market: Montreal vs Toronto
While Toronto Slows Down, How Does Montreal Compare?
Montreal clearly outperformed in 2025. Sales increased, prices rose across the single-family home, condominium, and plex markets, inventory remained limited, and market conditions continued to favor sellers.
The QPAREB/Centris reported 47,019 sales in the Montreal CMA, representing an 8% increase, with median prices reaching $622,500 for single-family homes, $425,000 for condominiums, and $830,000 for plexes.
Toronto experienced a weaker and more buyer-friendly market. The TRREB reported 62,433 sales across the Greater Toronto Area, down 11.2%, while new listings increased by 10.1% and the average annual price declined by 4.7% to $1,067,968. The average days on market also increased, reflecting a slowdown in the pace of market absorption.
Why Montreal Performed Better
Montreal maintained a healthier balance between supply and demand. Overall inventory remained relatively stable, but the supply of single-family homes and plexes stayed limited, continuing to put upward pressure on prices. The QPAREB notably highlighted seller-favourable conditions, shorter selling times, and price increases across all property categories.
Toronto experienced the opposite situation: more listings, fewer buyers, and affordability challenges that remained significant. Despite lower prices and more favourable mortgage rates, buyers stayed cautious due to economic uncertainty and concerns surrounding the job market. The TRREB described a market that had become more affordable, but was still waiting for buyer confidence to return.
For sellers, Montreal represented the stronger market in 2025: better momentum, rising prices, tighter inventory, and faster sales.
For buyers, Toronto offered greater negotiating power: more inventory, lower prices, and longer selling times, particularly in the condominium segment.
In summary, Montreal remained a seller’s market in 2025, while Toronto moved closer toward a balanced — and in some areas even buyer-friendly — market.
So what are we seeing in 2026?
