The Greater Montreal Area's residential real estate market experienced a notable slowdown last month, with home sales dropping by 8.5 per cent in November compared to the same period last year. The data, released by the region's real estate board, points to a continued cooling trend as buyers and sellers navigate shifting economic conditions.
Key Market Metrics Reveal Broader Slowdown
The decline in transaction volume is the headline figure from the latest market report. This drop follows a period of adjustment across Canadian housing markets, with higher borrowing costs and economic uncertainty influencing buyer behaviour. The report, issued on December 4, 2025, provides a crucial snapshot of the market as the year draws to a close.
While the sales figure is central, the board's analysis likely includes other vital metrics such as median sale prices, average days on market, and the sales-to-new-listings ratio. These indicators collectively paint a more comprehensive picture of whether the market is shifting toward balanced conditions or favoring buyers or sellers.
Context and Contributing Factors
The cooling in Montreal's market aligns with broader national trends observed in several major Canadian cities. Potential factors contributing to the slowdown include sustained elevated interest rates, which impact mortgage affordability, and overall consumer caution in the face of economic headwinds.
The report's findings are significant for current homeowners, prospective buyers, and real estate professionals planning for 2026. A sustained cooldown could lead to more predictable pricing and less competitive bidding scenarios, potentially opening opportunities for some first-time buyers who were previously priced out of heated markets.
Looking Ahead to 2026
The November data serves as a critical benchmark for the final quarter of 2025 and sets the stage for the new year. Market analysts will be watching closely to see if this trend continues through the typically quieter winter months or if early spring brings a resurgence of activity.
The real estate board's detailed report underscores the importance of localized data in understanding national housing trends. As one of Canada's largest metropolitan areas, Montreal's market performance is a key bellwether for the health of the national residential sector.