# Montreal Housing Market Cools as September 2026 Inventory Rises Montreal's housing market cooled in September 2026 as inventory climbed and sales declined. The sales-to-new-listings ratio dropped to 41%, signaling increased buyer leverage across the city. Published 2026-10-11. Evidence snapshot 2026-10-11. ## Market summary Montreal's housing market cooled in September 2026 as inventory climbed and sales declined. The sales-to-new-listings ratio dropped to 41%, signaling increased buyer leverage across the city. ## Central finding Montreal's September 2026 market shifted toward buyer leverage as active listings rose 15.7% year-over-year while sales fell 12.4%, pushing the sales-to-new-listings ratio to 41%. Sources: [Montreal Housing Market Report: September 2026 | Interactive Map | WOWA.ca](https://wowa.ca/montreal-housing-market) ## How the numbers connect The sales-to-new-listings ratio is approximately 41%. Calculation: 3,082 sales / 7,494 new listings = 0.411 Definitions: Sales volume and new listings for Montreal, QC, September 2026. Limit: Confirms the ratio but does not establish price direction or future inventory levels. Sources: [Montreal Housing Market Report: September 2026 | Interactive Map | WOWA.ca](https://wowa.ca/montreal-housing-market) ## September 2026 Market Shifts Toward Buyer Leverage Montreal recorded 3,082 residential sales in September 2026, a 12.4% decrease from the same month in 2025. Active listings reached 21,793, up 15.7% year-over-year, indicating a significant increase in available housing stock across the city. This divergence between falling sales and rising inventory marks a clear transition from the tighter conditions seen earlier in the year. The sales-to-new-listings ratio fell to 41% in September 2026, down from 49% in August. New listings totaled 7,494, representing a 5.0% annual increase. Under standard market thresholds, this ratio places Montreal in buyer's market territory, giving purchasers greater negotiating power and selection compared to the previous month. Sources: [Montreal Housing Market Report: September 2026 | Interactive Map | WOWA.ca](https://wowa.ca/montreal-housing-market) ## Price Stability Amidst Rising Inventory Despite the cooling in transaction volume, median prices remained relatively stable in September 2026. Single-family homes held a median price of $635,000, a 0.4% year-over-year increase. Condominiums saw their median price unchanged at $430,000, marking the only segment without an annual price gain during this period. The composite benchmark price stood at $583,900 in August 2026, reflecting a 2.2% year-over-year increase. QPAREB noted that inventory sits 18% above its 10-year average, which the association views as taking pressure off prices. This elevated supply level suggests that while prices have not yet declined sharply, the upward momentum has stalled. Sources: [Montreal Housing Market Report: September 2026 | Interactive Map | WOWA.ca](https://wowa.ca/montreal-housing-market) [Press , Market Reports & Analysis | Search Listings Online](https://www.searchlistingsonline.ca/press) [Montreal Housing Market: Home Prices and Sales | September 2026](https://wealthnorth.ca/housing/market/montreal/) ## The strongest counter-case QPAREB notes inventory remains 18% above its 10-year average, suggesting the current supply level may still be insufficient to reverse prior price gains immediately. Sources: [Montreal Housing Market: Home Prices and Sales | September 2026](https://wealthnorth.ca/housing/market/montreal/) ## Next 3 months, October 2026 to December 2026 Prices: flat. flat Why: Current inventory growth outpacing sales decline. Buyers: wait. Inventory is rising, providing more options and negotiating power. Sellers: wait. High inventory reduces urgency; waiting for lower competition may improve sale terms. Watch: Monthly sales-to-new-listings ratio remaining below 45%. Confidence: moderate. Sources: [Montreal Housing Market Report: September 2026 | Interactive Map | WOWA.ca](https://wowa.ca/montreal-housing-market) ## Next 6 months, January 2027 to March 2027 Prices: falling. falling Why: Sustained inventory accumulation over multiple quarters. Buyers: wait. Continued supply growth supports further price stabilization or modest declines. Sellers: either way. Pricing must align with market reality; competitive pricing is essential for timely sales. Watch: Months of inventory exceeding 6.5 months. Confidence: low. Sources: [Montreal Housing Market Report: September 2026 | Interactive Map | WOWA.ca](https://wowa.ca/montreal-housing-market) ## Next 12 months, April 2027 to June 2027 Prices: falling. falling Why: Long-term rebalancing from peak inventory levels. Buyers: wait. Structural oversupply suggests continued softening in price appreciation. Sellers: wait. Market conditions favor buyers; sellers should expect longer listing times and price concessions. Watch: Year-over-year sales volume declining by more than 15%. Confidence: low. Sources: [Montreal Housing Market Report: September 2026 | Interactive Map | WOWA.ca](https://wowa.ca/montreal-housing-market) Assumptions: Active listings continue to grow at a pace exceeding sales volume through Q4 2026; Mortgage rates remain stable near the 3.41% five-year variable rate observed on October 10, 2026. What would reverse this: If new listings slow significantly while sales volume rebounds, the sales-to-new-listings ratio could rise back above 50%, restoring seller leverage. Sources: [Montreal Housing Market Report: September 2026 | Interactive Map | WOWA.ca](https://wowa.ca/montreal-housing-market) ## Sources - [Montreal Housing Market Report: September 2026 | Interactive Map | WOWA.ca](https://wowa.ca/montreal-housing-market): Observation reference period: 30 September 2026. Scope: city, Montreal, QC. - [Montreal Housing Market: Home Prices and Sales | September 2026](https://wealthnorth.ca/housing/market/montreal/): Observation reference period: 30 September 2026. Scope: city, Montreal, QC. - [Press , Market Reports & Analysis | Search Listings Online](https://www.searchlistingsonline.ca/press): Source reference date 20 September 2026 (observation period not stated). Scope: city, Montreal, QC. Prepared by Aurynge with AI-assisted research and writing. See /methodology for the evidence and publication policy.