The Montreal condo market is experiencing notable growth in early 2025, reflecting a dynamic shift in the city's real estate landscape.

Rising Condo Prices

In January 2025, the median price for condominiums in Montreal reached $420,000, marking an 8% increase from $390,000 in January 2024. This upward trend continued into February, with the average selling price climbing to $416,900, a 4.9% year-over-year rise.

Surge in Sales Activity

The condo segment has seen a significant boost in transactions. January 2025 recorded 1,152 condo sales, a 38% increase compared to the same period last year. Overall residential sales in Greater Montreal surged by 36% in January, totaling 2,812 transactions. 

Factors Influencing the Market

Several elements are contributing to these trends:

• Demand and Demographics: The growing population of younger professionals and increased demand have driven condo prices up by 70% over the past decade, especially in areas like Griffintown and Hochelaga-Maisonneuve. 

• Interest Rates and Economic Conditions: High interest rates and a stable housing supply have led to a slight decrease in the median price per square foot for condos, which was $528 in 2023, down 2.22% from the previous year.

• Neighborhood Variations

Condo prices vary significantly across Montreal's neighborhoods. Proximity to metro stations plays a crucial role in property valuation. For instance, the Plateau-Mont-Royal area saw median condo prices around $583,500 in 2024, while more affordable options were found in Saint-Michel at approximately $353,000. 

Looking Ahead

The Montreal condo market is projected to maintain its upward trajectory. Forecasts indicate a 6% increase in condo prices, reaching a median of $507,210 by the fourth quarter of 2025. This growth is supported by strong demand and favorable economic conditions.

For those considering entering the Montreal condo market, staying informed about these trends and neighborhood-specific data is essential. Consulting with a knowledgeable real estate professional can provide valuable insights tailored to individual needs and preferences.