If you're getting ready to buy in Montreal, start by learning what homes sell for and whether buyers or sellers have the upper hand right now. Both will shape your offer and how you shop for a mortgage.
For the average house price in Montreal, the most reliable figure is CREA's benchmark for a typical home. For Greater Montreal, that figure sat at $578,200 in September 2026, almost exactly where it sat a year earlier.1 That's lower than the $666,538 average house price in Canada.
Knowing the local market helps you buy with your eyes open, and it shows you clearly which homes fit your budget and which don't.
Below, you'll find where Montreal prices stand today, along with tips to help you make a sound decision.
Key Points
- CREA's September 2026 benchmark for a typical Greater Montreal home was $578,200, nearly the same as a year before.
- Between July and September 2026, single-family homes had a median sale price of $645,500, and condos $435,000.
- Listings are up 20% on last year, so you have more homes to pick from.
- Expect monthly payments of about $2,700 to $3,300 on a $578,200 home, based on your down payment.
- The welcome tax on a $578,200 Montreal home is $6,913, and a first-time buyer can recover up to $5,875 of it.
Average House Price In Montreal
The average home price in Montreal, measured by CREA's benchmark for a typical Greater Montreal home, was $578,200 in September 2026. That's only $100 more than the $578,100 of September 2025 (a 0.02% rise).1 Because the benchmark prices the same kind of home every month instead of averaging whatever happened to sell, it moves more smoothly than a simple average.
That's 3.0% under the June 2026 high of $596,300. Over the long run, Montreal's benchmark has roughly tripled from $187,300 in January 2005.1
Montreal Benchmark Home Price, 2005 To 2026
Peak $596,300 in June 2026 | September 2026: $578,200
Source: CREA MLS Home Price Index, Montreal composite benchmark price, not seasonally adjusted.
What you pay in Montreal depends heavily on the kind of home. Each type had its own September 2026 benchmark:
| Type Of Home | Benchmark, Sept. 2026 | Change From 2025 |
|---|---|---|
| Single-family home | $689,500 | +0.7% |
| Townhouse | $630,200 | +1.3% |
| Apartment (condo) | $427,900 | +0.1% |
| All home types (composite) | $578,200 | 0.0% |
Source: CREA MLS HPI for the Montreal CMA, September 2026.1
Montreal is much more affordable than Toronto. A typical home in Greater Toronto carried a $917,600 benchmark in September 2026, roughly $339,000 more than in Greater Montreal.1
How Much Is The Median House Price In Montreal?
From July to September 2026, the median Montreal-area price was $645,500 for a single-family home and $435,000 for a condominium.2 A median is the price in the middle of all sales, so a handful of very cheap or very expensive homes won't pull it off course the way they can pull an average.
| Property | Median, July To September 2026 | Yearly Change |
|---|---|---|
| Single-family home | $645,500 | +2% |
| Condominium | $435,000 | +2% |
| Plex | $860,500 | +3% |
Source: Quebec Professional Association of Real Estate Brokers (QPAREB), Montreal CMA, July to September 2026.2 All three types sold for a little more than in the same months of 2025.
How Far Below The National Average Is Montreal?
Montreal's $578,200 benchmark is about $88,000 less than Canada's average price of $666,538, and a little higher than Quebec's provincial average of $563,241.1 The table lists every province.
| Province | September 2026 Price | Change Over The Year |
|---|---|---|
| Canada | $666,538 | -1.6% |
| British Columbia | $923,887 | -2.4% |
| Ontario | $791,691 | -4.3% |
| Quebec | $563,241 | 2.2% |
| Alberta | $525,308 | 5.2% |
| Nova Scotia* | $423,200 | -2.5% |
| Manitoba* | $388,200 | 3.4% |
| Prince Edward Island* | $377,900 | 0.5% |
| Saskatchewan* | $376,700 | 2.8% |
| Newfoundland and Labrador* | $355,600 | 5.5% |
| New Brunswick* | $341,700 | 2.7% |
Source: CREA (September 2026).1 For the provinces with a star, the figure shown is the HPI benchmark rather than the average. Of Canada's largest cities, Vancouver costs far more: its benchmark hit $1,075,900 in September 2026.1
Why Have Montreal Prices Levelled Off?
More homes are listed and fewer people are buying, so prices have stopped climbing. Montreal-area sales fell 12% in September 2026 compared with September 2025.3
Listings rose for the 14th straight month in September, and inventory now sits about 18% above the 10-year average.3 With that much choice, buyers feel less need to bid against each other, and sellers have a harder time asking for more.
How Long Do Montreal Homes Take To Sell?
Single-family homes in the Montreal area sold in 40 days on average from July to September 2026.2 Plexes took 51 days. Condos took 61 days, 13 days longer than a year before.2
Where you buy changes your leverage too. On the Island of Montreal, the condo market sits between balanced and a buyer's market, and Laval and Vaudreuil-Soulanges condos are close to balanced.2 Condo sellers on the North Shore and South Shore still have the upper hand, and single-family sellers do across the whole region.2 So if you're shopping for a condo on the Island, you can usually take more time and negotiate harder than you could on a house.
What Does A $578,200 Montreal Home Cost Per Month?
Buying at Montreal's $578,200 benchmark, your payment comes down to your down payment and your rate. Every row is based on 5% fixed, amortized over 25 years.
Swipe to see all →
| Down Payment | Cash Down | Default Insurance | Amount Borrowed | Monthly Payment |
|---|---|---|---|---|
| Minimum (5.68%)* | $32,820 | $21,815 (4.00%) | $567,195 | $3,299 |
| 10% | $57,820 | $16,132 (3.10%) | $536,512 | $3,120 |
| 20% | $115,640 | None | $462,560 | $2,690 |
*At this price you need two layers of down payment: 5% covers the first $500,000, and 10% covers the part above it. For $578,200, that adds up to $25,000 plus $7,820, or $32,820 (5.68% of the price).
These numbers are for illustrative purposes only. Actual numbers may vary.
A down payment smaller than 20% triggers a mortgage default insurance premium, which gets folded into your loan. That's where the larger loan amounts in the first two rows come from. Quebec applies its 9% provincial sales tax to the premium as well. That tax has to be paid at closing because it can't go on the mortgage, so at the minimum down payment, budget about $1,963 for it.
Montreal Payments At Rates From 4% To 6%
Put 20% down and you'd borrow $462,560. Moving the rate by half a point changes what you pay each month by about $127 to $136.
| Rate | Payment Per Month | Interest Paid Over 25 Years |
|---|---|---|
| 4.0% | $2,433 | $267,388 |
| 4.5% | $2,560 | $305,483 |
| 5.0% | $2,690 | $344,522 |
| 5.5% | $2,823 | $384,468 |
| 6.0% | $2,959 | $425,287 |
These numbers are for illustrative purposes only. Actual numbers may vary.
Try different prices, down payments and rates in the mortgage calculator below.
Mortgage Calculator
| Amortization | Payment | Total interest | Total paid |
|---|---|---|---|
| 15 years | $3,356.62 | $164,191.53 | $604,191.53 |
| 20 years | $2,773.78 | $225,707.84 | $665,707.84 |
| 25 years | $2,435.28 | $290,584.30 | $730,584.30 |
| 30 years | $2,218.55 | $358,677.44 | $798,677.44 |
| Year | Principal paid | Interest paid | Balance left |
|---|---|---|---|
| Year 1 | $9,805.24 | $19,418.13 | $430,194.76 |
| Year 2 | $10,251.44 | $18,971.93 | $419,943.33 |
| Year 3 | $10,717.94 | $18,505.43 | $409,225.38 |
| Year 4 | $11,205.67 | $18,017.70 | $398,019.71 |
| Year 5 | $11,715.60 | $17,507.77 | $386,304.11 |
| Year 6 | $12,248.74 | $16,974.64 | $374,055.37 |
| Year 7 | $12,806.13 | $16,417.24 | $361,249.24 |
| Year 8 | $13,388.89 | $15,834.48 | $347,860.35 |
| Year 9 | $13,998.17 | $15,225.20 | $333,862.18 |
| Year 10 | $14,635.17 | $14,588.20 | $319,227.01 |
| Year 11 | $15,301.16 | $13,922.21 | $303,925.85 |
| Year 12 | $15,997.46 | $13,225.91 | $287,928.39 |
| Year 13 | $16,725.45 | $12,497.93 | $271,202.94 |
| Year 14 | $17,486.56 | $11,736.81 | $253,716.38 |
| Year 15 | $18,282.31 | $10,941.07 | $235,434.07 |
| Year 16 | $19,114.27 | $10,109.11 | $216,319.81 |
| Year 17 | $19,984.08 | $9,239.29 | $196,335.72 |
| Year 18 | $20,893.49 | $8,329.89 | $175,442.24 |
| Year 19 | $21,844.27 | $7,379.10 | $153,597.97 |
| Year 20 | $22,838.32 | $6,385.05 | $130,759.65 |
| Year 21 | $23,877.61 | $5,345.77 | $106,882.04 |
| Year 22 | $24,964.19 | $4,259.19 | $81,917.86 |
| Year 23 | $26,100.21 | $3,123.16 | $55,817.64 |
| Year 24 | $27,287.94 | $1,935.44 | $28,529.71 |
| Year 25 | $28,529.71 | $693.66 | $0.00 |
Estimates only. How we calculate: home price minus your down payment, repaid in equal payments at your rate, with interest compounded semi-annually, as fixed-rate mortgages in Canada usually are. Accelerated payments are your monthly payment split in two (bi-weekly) or four (weekly), which pays the mortgage off sooner. With less than 20% down on a home under $1.5 million, the CMHC default insurance premium (2.80% to 4.00% of the loan, by down payment) is added to the mortgage; in Ontario, Quebec and Saskatchewan, the provincial sales tax on it is due at closing and isn't included. Property tax and other fees are not included.
What Will Montreal's Welcome Tax Cost You?
Montreal's welcome tax on a $578,200 home comes to $6,913. Officially called property transfer duties, it's a one-time tax you pay when you buy, and the city uses its own brackets.4
The city works it out on the largest of three amounts: what you paid, the price stated in your deed, or the assessed value times the comparative factor (1.00 in 2026). You pay each bracket's rate only on the part of the value that sits inside that bracket.4
| Price Range | Rate |
|---|---|
| Up to $62,900 | 0.5% |
| $62,900 to $315,000 | 1.0% |
| $315,000 to $552,300 | 1.5% |
| $552,300 to $1,104,700 | 2.0% |
| $1,104,700 to $2,136,500 | 2.5% |
| $2,136,500 to $3,113,000 | 3.5% |
| Over $3,113,000 | 4.0% |
This is the math on a home bought at the $578,200 benchmark:
| Step | Amount |
|---|---|
| First $62,900 at 0.5% | $314.50 |
| $62,900 to $315,000 at 1.0% | $2,521.00 |
| $315,000 to $552,300 at 1.5% | $3,559.50 |
| $552,300 to $578,200 at 2.0% | $518.00 |
| Total welcome tax | $6,913.00 |
| Quebec first-time buyer tax credit | -$5,478.25 |
| What a first-time buyer pays after the credit | $1,434.75 |
These numbers are for illustrative purposes only. Actual numbers may vary.
Quebec gives first-time buyers a refundable tax credit for access to homeownership. It pays back all of your first $5,000 in welcome tax plus 25% of the rest, with a ceiling of $5,875.5 You qualify if you bought on January 1, 2026 or later. The credit starts to drop once the home is worth more than $750,000 and is gone by $1 million.5
The City of Montreal bills you after the sale, and the full amount is due in one instalment within 30 days of the billing date.4 Keep it in savings next to your down payment so you're ready when the bill arrives.
How Do Interest Rates Shape Montreal's Market?
Rates have a direct effect on how many people can buy. When rates fall, borrowing costs less, more shoppers come out, and that competition tends to lift prices.
Higher rates raise payments, which keeps some buyers on the sidelines and can hold prices down. Borrowing got a little pricier in late October, when the Bank of Canada's policy rate climbed to 2.50% on October 28, 2026. It had been 2.25%.6 Even before that, Montreal-area sales in September 2026 were 12% below the year before.3
Why Do Two Montreal Homes Sell For Different Prices?
The price of a house comes down to a handful of things:
- Whether buyers or sellers have the edge - When buyers outnumber the homes for sale, prices usually climb. When homes outnumber buyers, you get more room to negotiate. Montreal's inventory is well above its 10-year average, so buyers have more choice than they've had in years.
- How the economy is doing - Steady jobs and growing paycheques let more people buy, which props up prices. Higher unemployment usually cools demand.
- Where the home is - The same house can be worth very different amounts in different parts of town. A 2-bedroom bungalow in a sought-after city neighbourhood will likely cost much more than a similar home in a rural area.
- Its age and condition - A home that's been cared for and updated can sell for more than one needing some TLC. Older homes that haven't been renovated are more likely to need repairs than newer ones built with newer materials.
- Finishes and features - Buyers pay more for hardwood floors, granite countertops and stainless steel appliances than for wall-to-wall carpet, laminate counters and white appliances.
- Size - A bigger home on a larger lot usually sells for more than a smaller one nearby, since it takes more land and materials to build.
How Do Lenders Decide What You Can Borrow In Montreal?
Lenders look at your income and your debts, and a mortgage pre-approval is one of the clearest ways to find out what that means for you.
To pre-approve you, the lender reviews those numbers and estimates the loan you could qualify for.
Once you have that amount, you'll know how much house you can afford and can focus your search on listings in your range.
Start With Your Monthly Spending
Before you meet a lender, total your regular costs and set them against your income. Your list should include:
- Utilities
- Car loans and car insurance
- Student loans and personal loans
- Credit card bills
- Groceries and gas
- Entertainment and subscriptions
The gap between your income and those costs is roughly what you could spend on a mortgage. Lenders also check two ratios that make up your debt service ratio before they approve a specific amount.
GDS And TDS In Plain Terms
Your GDS ratio looks only at housing. Lenders total your mortgage payment, your property taxes and, if you own a condo, half its monthly fees, then compare that with your income. Every lender has its own cap.
Your TDS ratio starts with those same housing costs and adds car loans, credit cards and any other debt. If that total is too high for your lender, the amount you can borrow may shrink.
Leave Room For Ownership Costs
A pre-approval tells you what a lender will offer, not what feels comfortable each month. Don't stretch yourself too thin. Leave room for home insurance, property taxes, utilities, upkeep, repairs and furniture.
Which Bills Come With A Montreal Home?
Your mortgage payment is just the start, and these other bills arrive with the keys:
| Bill | What You'll Pay |
|---|---|
| Welcome tax | A one-time city tax billed after you buy, $6,913 on a $578,200 home before any first-time buyer credit. |
| Property taxes | Rates vary by property type and borough, and they're charged on the assessed value. Look up the City of Montreal's 2026 rates for the borough you're considering before you buy. |
| Home insurance | Expect your lender to ask for proof of insurance before approving the mortgage. |
| Utilities | Electricity, heating and internet, paid every month. |
| Maintenance and repairs | Parts of a home wear out with time, and older homes are more likely to need expensive fixes. |
| Condo fees | Monthly fees if you buy a condo. Part of what they pay for, you'd cover yourself in a freehold home. |
How Can You Boost Your Odds Of Mortgage Approval?
These two steps can help you get approved for a mortgage on a Montreal home.
Save A Bigger Down Payment
Every extra dollar you put down is a dollar you don't have to borrow. That helps in several ways:
- Easier approval - A smaller loan, especially one well below the purchase price, can improve your odds.
- No default insurance - Put down 20% or more and you skip mortgage default insurance.
- A possibly lower rate - The less risk you are to a lender, the more likely they are to offer you a better rate.
- Smaller payments - Borrowing less lowers your monthly payment and leaves more money for everything else.
Work On Your Credit Score
Your credit score is one of the biggest things a lender weighs, and a higher score works in your favour.
If your score is on the low side, it can pay to raise it before you apply. A few ways to do that:
- Pay your bills on time
- Pay your credit card bill in full rather than making minimum payments
- Don't constantly take out additional loans, credit cards or credit lines
- Keep old credit accounts open
- Pay down your debt
Where Is Montreal's Market Heading?
So far in 2026, Montreal prices have stayed flat while more homes come up for sale.
In September 2026, the benchmark was nearly unchanged from a year earlier, even as sales dropped and inventory kept growing.1,3 If that continues, you can expect more choice and steadier prices going into 2027, though higher interest rates could slow sales further.
Can An Affordability Calculator Help You Set A Budget?
Yes, it's one of the fastest ways to get a number. Montreal's benchmark may be $578,200, but plenty of homes are listed well below and well above it. What matters is finding one your budget can handle, so work out your limit before you start looking.
An online mortgage affordability calculator asks for a few details:
- Annual household income
- Down payment
- Monthly debt payments
- Property location
- Property type
From those details, it estimates the price of home you can afford.
Planning Your Montreal Purchase
Montreal costs less than many of Canada's other busy cities, but buying here is still a big financial step. At the $578,200 benchmark, your mortgage would run about $2,700 to $3,300 monthly, and the welcome tax adds around $6,913. Get your finances in order and research the market before you commit to a home.
Average House Price In Montreal FAQs
Can a lender still turn you down after a pre-approval?
How do agents decide on a listing price?
Did Montreal home prices go up in the last year?
What moves home prices in Montreal?
Is Montreal more expensive than the Canadian average?
How much does a house cost in Montreal?
What do Montreal condos sell for?
What's the monthly payment on a $578,200 Montreal home?
What does the welcome tax add to a Montreal purchase?
Sources
- Canadian Real Estate Association (CREA), "National price map and MLS Home Price Index (September 2026)," crea.ca, accessed October 2026.
- Quebec Professional Association of Real Estate Brokers (QPAREB), "Quebec's residential real estate market continues to transition, yet most markets remain seller-friendly," apciq.ca, October 14, 2026.
- Quebec Professional Association of Real Estate Brokers (QPAREB), "Montreal and Quebec City CMAs: The path toward a more balanced market continues," apciq.ca, October 2, 2026.
- Ville de Montreal, "How property transfer duties are calculated," montreal.ca, updated January 12, 2026.
- Gouvernement du Quebec, "Quebec vient en aide aux acheteurs d'une premiere habitation," quebec.ca, April 17, 2026.
- Bank of Canada, "Policy interest rate," bankofcanada.ca, accessed October 2026.
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