Montreal Condos in Early 2026

A market changing its pace

Montreal’s condo market is starting 2026 with a very different dynamic from the one we saw last year. It is not a collapse. It is not a crisis. But it is clearly a change in tempo.

Fewer sales, more inventory

In January 2026, 493 condo sales were recorded, compared with 592 in January 2025. That represents a drop of about 17%. Meanwhile, the number of active listings climbed to 5,393, an increase of more than 17% over last year. In other words: there are more condos on the market, but fewer active buyers.

A strong signal: the rise in expired listings

One figure deserves particular attention: more than 1,000 listings expired in January 2026. That is an increase of more than 33% compared with last January. In concrete terms, a growing number of sellers are trying their luck… without managing to close a sale.

Nearly 11 months of inventory: a more selective market

This gap between supply and demand is moving the market into territory that is more favourable to buyers. Comparing sales with inventory, we get nearly 11 months of inventory in January 2026. At the same time last year, we were under 8 months. This shift matters: it reflects a slower, more negotiated, more selective market. One thing must be kept in mind, however: Montreal is not homogeneous. Some areas are performing better than others.

Stable prices… for now

And yet the median price remains stable at $465,000, exactly the same as in January 2025. This is where the reading gets interesting. Despite slower sales and rising inventory, prices are not falling. Why? Because sellers would rather withdraw their listing or let it expire than cut their price significantly. We can see this clearly in the sharp increase in expired listings. The market is not collapsing: it is adjusting through stagnation.

A more cautious economic context

These figures also need to be placed in their economic context. Interest rates have stabilized after the increases of recent years, but the climate remains cautious. Households are more calculated. Investors are more selective. The euphoria of 2021–2022 is well behind us. The market is entering a more rational phase.

Montreal is not uniform

It is important to remember that Montreal is not homogeneous. A condo near a major transit hub or in a highly sought-after area will not experience the same reality as a poorly positioned or overly ambitiously priced property. Some areas are holding up better. Others are accumulating more inventory.

If you want to know exactly how your area or your type of condo is performing, contact us. It is not the same everywhere, and an overall reading can be misleading.

What this means for sellers

For sellers, the message is clear: 2026 is not a year to “test the market” with an aspirational price. The data show that the market punishes overpricing with expirations. The strategy must be precise from the outset. In an environment where buyers have more choice, the marketing has to be flawless.

What this means for buyers

For buyers, the situation is different. There are more options, more time to decide and more room to negotiate. It is a more balanced context, even an advantageous one for those who are ready.

Spring 2026: the real test

The big question for spring 2026 will be this: will sales rebound enough to absorb the current inventory? Spring traditionally brings a recovery, but if new listings keep increasing at the same pace, the pressure could persist.

Over the coming months, we will be watching three indicators in particular: the pace of spring sales, the trend in the median price and the number of expired listings.

Once again, every area tells its own story. If you want to understand the exact situation in your neighbourhood or find out which strategy to adopt in 2026, contact our team. A personalized analysis makes all the difference in a market that is becoming more selective.

Conclusion

The market is not falling.It is changing.

And in a changing market, analysis becomes a strategic advantage.