Average price of a house on the island of Montreal | The Million Cape Cape

In mid-year, the average price of houses in the metropolis reached $ 1,008,234, according to the most recent quarterly report in Centris. This is an increase of 7 % over a year and 42 % over five years.

The data strikes the spirits, is suitable for Charles Brant, director of the market analysis service of the Professional Association of Real Estate Brokers in Quebec (APCIQ). The indicator had reached the mark of the million for the first time at the end of 2024, he explains, but had come back down to the next quarter.

“The first time, we just reached the million, but this time, we really go beyond it and we will exceed it more and more,” said Mr. Brant.

In question, in particular: a lack of supply, advantageous interest rates that stimulate demand and an increase in sales in the most expensive neighborhoods.

But beware: Buying a house a million in Montreal, that doesn’t mean that we won the jackpot.

What to expect? With great disparities according to the sectors, but also to many houses aged several decades, underlines Julie Gaucher, CEO of the Sutton-Québec real estate group. In particular, in Mont-Royal or in the districts of Outremont and Notre-Dame-de-Grâce, where the unified houses accumulate about 40 to 50 years of age, she observes.

“In Montreal, a million, it’s a beautiful house, but there will be work to do. People will have to plan a budget, not even to bring the house up to date, but at least level, ”adds M^me Left -handed, which is on the ground daily.

It is important to specify that we are talking about the average price. The median price of houses on the island of Montreal, on the other hand, is rather $ 800,000. In other words, there are as many houses located below that beyond this amount.

“It is starting to be raised,” says Dominic St-Pierre, Executive vice-president, business development at Royal Lepage, especially for first house buyers.

Thanks to the sellers

In this regard, the two experts note a new phenomenon in Montreal, which is already observed amply in Vancouver and Toronto: the purchase of a first house with the help of a parent, or even by sharing costs with friends.

According to Mr. St-Pierre, The prices in Montreal are however still far from compared to those of other major Canadian markets. The Montreal market is closer to those of Calgary, Alberta, or London, Ontario, he adds.

“But here, we caught up a bit [Toronto]and I don’t know if it’s good news, ”says Dominic St-Pierre. M^me Left -handed made the same remark, in an interview with The press.

There, it was in February 2015 that the million brand was exceeded. Today, the average price of detached single -family houses is estimated at more than 1.3 million, according to the Toronto Regional Real Estate Room. In Vancouver, it’s even more expensive.

The two Canadian metropolises have however experienced a significant increase in the number of properties for sale in recent months, which has allowed relaxation of their market and a slight drop in prices. But it is not the same in Montreal.

“We see that there is still an increase in registration, but it remains largely insufficient compared to the force of demand, which maintains the market conditions thanks to the sellers”, summarizes Charles Brant, of the APCIQ.

Among the big Canadian cities, Montreal is one of the cities, with Quebec, which have experienced the most important price increases, according to the national composite index of Teranet house prices – National Bank.

In one year, prices have increased by almost 7 % in the Metropolitan Region of Montreal, according to this indicator, which observes the price growth of housing between the last two sales of this accommodation.

Imbalance

The rise in prices is not a foreign phenomenon to the rest of the province. Throughout Quebec, the average price of unifamilial houses amounts to $ 561,664. This represents an increase of 68 % since 2020.

Charles Brant, Julie Gaucher and Dominic St-Pierre affirm: to slow down prices, it is imperative to increase the supply of properties in the province.

Few houses are currently built in Quebec. Since the beginning of 2025, more than 80 % of construction in Quebec have concerned the rental market, according to the Association of Construction and Housing Professionals in Quebec (APCHQ). This addition will still make it possible to fill a certain request, and ultimately, to remove pressure on the market, explains Mr. St-Pierre.