Weekly Montreal Real Estate Market Bulletin — week 26 (June 18 to 24, 2026). Across the island, the sales-to-new-listings ratio stands at 56%: 327 sales for 582 new listings, with sales down 9.9% year-over-year and expired listings up 25%.
Published June 25, 2026 · Period covered: June 18 to 24, 2026.
In plain terms
This week, on the island of Montreal, slightly more than one property sold for every two newly listed: the balance of power leans slightly towards sellers, without excess. But this average combines two opposing realities. Houses and small income properties — single-family homes, duplexes, quadruplexes — are selling quickly, almost as fast as they are listed. Condos, conversely, are accumulating: approximately two are listed for every one sold. This mirrors last week, where plexes led while condominiums lagged.
🎥 In video: The Tardif Index, May 2026 monthly edition.
The Index Benchmark
The Tardif Index is a monthly indicator. The Tardif Index for May 2026 was 50.3/100, in a balanced zone. This bulletin does not calculate a weekly score: it tracks the week’s flow (sales, listings, expirations) to shed light on the monthly trend, without replacing it.
The Tardif Index is published under the methodological responsibility of David Tardif, real estate broker registered with OACIQ (license E2815). See the methodology and the monthly report.
Summary Table — Montreal Island Real Estate Market, June 18 to 24, 2026
| Category | Sales 7 days | vs 2025 | New listings | SNLR | Expired 7 days | Most active sector |
|---|---|---|---|---|---|---|
| Condominium | 168 | −9.2% | 342 | 49 % | 68 | Ville-Marie (31) |
| Single-family | 95 | −15.9% | 142 | 67 % | 22 | Rivière-des-Prairies (11) |
| Duplex | 29 | −12.1% | 44 | 66 % | 2 | Le Sud-Ouest (7) |
| Triplex | 15 | +36,4 % | 31 | 48 % | 1 | Hochelaga (3) |
| 4-plex | 10 | +66,7 % | 11 | 91 % | 1 | Hochelaga (3) |
| Multi-unit 5+ | 10 | −33.3% | 12 | 83 % | 2 | Rosemont (3) |
| Island total | 327 | −9.9% | 582 | 56 % | 96 | — |
Source: Centris data (extracted by David Tardif, OACIQ registered broker).
Buyers or sellers: who leads the Montreal real estate market?
In plain terms: on the island as a whole, slightly more than one property sells for every two listed: the balance of power leans slightly towards the seller, without excess. But this average hides two markets. Where one buys to live in a house or rent a small building — single-family home, duplex, quadruplex — the seller leads. Where one buys a condo, the buyer takes their time to choose.
The fact: 327 sales for 582 new listings, a sales-to-new-listings ratio (SNLR) of 56% across the island.
Expert analysis: At 56%, the island is in the upper half of the balanced range (40–60%), a notch firmer than the previous week. The dispersion remains significant: 4-plexes at 91%, multi-unit 5+ at 83%, single-family homes at 67%, and duplexes at 66% are in a seller’s market; condominiums at 49% and triplexes at 48% hold the midpoint of equilibrium. Condominiums, which alone account for slightly more than half of the week’s sales, are what keep the island’s average near equilibrium. Methodological caveat: SNLR is normally a monthly indicator; over a single week, it is a snapshot, not a trend.
Category breakdown
Condominium
168 sales · 342 new listings · SNLR 49% · 68 expired · sales −9.2% year-over-year · most active sector: Ville-Marie (31 sales).
In plain terms: many condos are coming onto the market, and slightly less than half of what is added is sold. Condo buyers hold the upper hand this week.
The fact: for every 100 new condos listed, approximately 49 sell within the same seven-day window.
Expert analysis: At 49%, condominiums are just below the midpoint of equilibrium. The ratio of expired listings to sales reaches 41%, the highest of the six categories, and expirations increased by 36% year-over-year (68 vs. 50). The 9.2% decline in sales remains moderate (168 vs. 185 a year earlier). To be confirmed over several weeks before being considered a trend.
Single-family
95 sales · 142 new listings · SNLR 67% · 22 expired · sales −15.9% year-over-year · most active sector: Rivière-des-Prairies (11 sales).
In plain terms: houses are selling at a good pace — two out of three new listings find a buyer within the week. Sellers hold the advantage.
The fact: 95 homes sold for 142 new listings, an SNLR of 67%.
Expert analysis: At 67%, single-family homes shift into a seller’s market (band > 60%). The 15.9% decline in sales year-over-year (95 vs. 113) is mainly due to tighter listing volume rather than a slowdown in demand; expirations increased by 29% (22 vs. 17), to be monitored.
Duplex
29 sales · 44 new listings · SNLR 66% · 2 expired · sales −12.1% year-over-year · most active sector: Le Sud-Ouest (7 sales).
In plain terms: two out of three duplexes listed sell within the week. The seller maintains the advantage, but transaction volume remains low.
The fact: 29 sales for 44 new listings, an SNLR of 66%.
Expert analysis: At 66%, duplexes are in a seller’s market (band > 60%). Sales are down 12.1% year-over-year (29 vs. 33), while expirations decreased from 4 to 2: very few duplexes expire without selling. The low volume suggests reading this ratio as a snapshot.
Triplex
15 sales · 31 new listings · SNLR 48% · 1 expired · sales +36.4% year-over-year · most active sector: Hochelaga (3 sales).
In plain terms: triplexes are trading at a balanced pace; new supply exceeds sales, but without excess.
The fact: 15 sales for 31 new listings, an SNLR of 48%.
Expert analysis: At 48%, triplexes are at the heart of the balanced range. Sales increased by 36% year-over-year (15 vs. 11) and only one listing expired, as was the case a year earlier. The increase is based on small numbers and does not, by itself, allow for a trend conclusion.
4-plex
10 sales · 11 new listings · SNLR 91% · 1 expired · sales +66.7% year-over-year · most active sector: Hochelaga (3 sales).
In plain terms: few transactions, but almost everything listed sells. Small segment, to be read with caution.
The fact: 10 sales for 11 new listings, an SNLR of 91%.
Expert analysis: At 91%, 4-plexes are clearly in a seller’s market (band > 60%). Volumes are low (10 sales vs. 6 a year earlier): the 67% year-over-year increase primarily reflects the sensitivity of small numbers and does not allow for any trend conclusion. Expirations decreased from 4 to 1.
Multi-unit 5+
10 sales · 12 new listings · SNLR 83% · 2 expired · sales −33.3% year-over-year · most active sector: Rosemont (3 sales) · average GRM 16.89 · average price per door $221,474.
In plain terms: few multi-unit buildings listed for sale, and most find buyers. This week, the building seller leads — the opposite of the previous week.
The fact: 10 sales for 12 new listings, an SNLR of 83%; average Gross Rent Multiplier (GRM) of 16.89.
Expert analysis: At 83%, multi-unit 5+ appears to be in a seller’s market (band > 60%), but on a very low volume (only 12 listings) which amplifies the ratio’s reading. An average GRM of 16.89 and an average price per door of $221,474 reflect valuations a notch more measured than the previous week. The 33% decline in sales year-over-year is based on very small numbers (10 vs. 15) and should be read as a snapshot, not a trend.
Macroeconomic and political context
On June 10, 2026, the Bank of Canada maintained its key interest rate at 2.25%, a fifth consecutive hold (prime rate at 4.45%). The summary of its deliberations, published on June 24 — within the week covered by this bulletin — clarifies its tone: the Council judges the economy as “weak,” marked by excess supply and unused capacity in the labor market, without, however, mentioning a recession. It primarily identifies the revision of the Canada-United States-Mexico Agreement (CUSMA) as the main source of uncertainty: new US trade restrictions could justify a rate cut to support growth. The conflict in the Middle East, now in its fourth month, also continues to fuel energy prices.
On the price front, annual inflation rose to 3.2% in Canada in May (vs. 2.8% in April) and, notably, to 3.6% in Quebec (vs. 3.0% in April) — above the Canadian average and the target, mainly due to gasoline. The best observed five-year fixed mortgage rate was around 4.04% (the lowest among major banks, Scotiabank, at 4.34%). In the background, CMHC reminds that 1.15 million mortgages are renewing across the country in 2026, with fixed-rate borrowers absorbing an average payment increase of approximately 26% upon renewal.
Analysis: two forces intersect. On one hand, stable rates and a soft economy remove the urgency to act and argue for the financing status quo. On the other hand, re-accelerating inflation — more pronounced in Quebec than elsewhere — and trade uncertainty with the United States weigh on confidence and close the door to an imminent rate cut. For the island, borrowing costs remain unchanged from week to week, which aligns with sales down 9.9% year-over-year and still abundant new condominium supply. Finally, it should be noted: National Holiday on June 24, a public holiday, shortened the business week and may have slightly curbed transaction volume at the end of the period.
What I take away this week
The week of June 18 to 24 maintains a balanced market across the island, at 56% SNLR, a notch firmer than the previous week. However, the sales engine is running slower than a year ago: −9.9% across all categories. This decline is diffuse rather than concentrated — affecting condominiums (−9.2%), single-family homes (−15.9%), and multi-unit 5+ (−33%, on small numbers) — while triplexes and 4-plexes show increased sales, also on low volumes.
The highlight of the week is the reversal of the balance of power between segments. The previous week, duplexes and quadruplexes soared while condominiums slipped; this week, houses (67%), duplexes (66%), quadruplexes (91%), and even multi-unit 5+ (83%) lean towards the seller, while condominiums (49%) and triplexes (48%) hold the equilibrium point. The “island of Montreal” is a convenient average, but each category has its own dynamics, and this index aims precisely to make that legible. To understand the approach, see who we are.
The second signal to watch is expired listings: 96 listings expired this week on the island, compared to 77 a year earlier (+25%), with the most visible increase in condominiums (68 vs. 50, +36%). When listings expire without selling, it often means the asking price has not yet met the market — a signal consistent with condominiums where supply is accumulating. This data should be monitored over several weeks before drawing any definitive conclusions.
Finally, the macro context deserves attention: after 2.8% in April, inflation rose to 3.2% in May. As long as it does not spread beyond energy, it does not change buyer financing; but it reduces the probability of a new rate cut in the short term. My cautious reflex remains the same: a weekly snapshot illuminates the flow, it does not replace the monthly reading. The Index score remains monthly, and it is what attests to the underlying trend.
FAQ
Did the Montreal real estate market slow down the week of June 18-24, 2026?
Yes, compared to last year. The island recorded 327 sales from June 18 to 24, 2026, compared to 363 during the same period in 2025, a decrease of 9.9%. However, the sales-to-new-listings ratio remains in the balanced zone, at 56%, in its upper half. See the monthly report for the underlying trend.
What is SNLR and why 56%?
SNLR (sales-to-new-listings ratio) compares the number of sales to the number of new listings over the same period. At 56% this week on the island, we are in the balanced range (40–60%), leaning towards the seller’s side without a marked seller’s market. The methodology details the ranges.
Which category most favors sellers the week of June 18-24, 2026?
4-plexes, with an SNLR of 91% (10 sales for 11 new listings), followed by multi-unit 5+ at 83%, single-family homes at 67%, and duplexes at 66%. Conversely, condominiums (49%) and triplexes (48%) hold the equilibrium point. These discrepancies are based on small volumes in the plex segments and should be read as snapshots.
Did interest rates change this week?
No. The Bank of Canada maintained its key interest rate at 2.25% on June 10, 2026, a fifth consecutive hold, and the prime rate remains at 4.45%. The best five-year fixed rate was around 4.04%. Stable financing conditions that impose no urgency on either buyers or sellers.
Why did inflation accelerate in May 2026 and what does it mean for Montreal real estate?
Annual inflation rose from 2.8% in April to 3.2% in May 2026 (Statistics Canada), its fastest pace since December 2023, mainly due to rising gasoline and energy prices linked to the conflict in the Middle East. For real estate, the direct effect is limited as long as the increase remains confined to energy, but it reduces the probability of a new key rate cut in the short term, and thus a loosening of mortgage rates.
Why are expired listings increasing in Montreal in June 2026?
On the island, 96 listings expired the week of June 18-24, compared to 77 a year earlier (+25%), with a marked increase in condominiums (68 vs. 50). An expiration often signals a discrepancy between the asking price and what the market is willing to pay. This is a signal to be confirmed over several weeks, not a conclusion in itself.
Can a weekly figure be relied upon for buying or selling?
A weekly bulletin sheds light on the market’s pace but does not constitute an analysis of your property. For a buying, selling, or listing decision, consult an OACIQ registered broker who will perform an analysis tailored to your situation.
Professional Disclaimer
The Tardif Index is a statistical indicator of transactional conditions observed on the island of Montreal. It does not constitute a value opinion, a comparative market analysis within the meaning of OACIQ regulations, or professional advice on a specific property. For any buying, selling, or listing decision, consult a real estate broker registered with OACIQ who will perform an analysis tailored to your situation and the property concerned. The data and figures published are provided for informational and journalistic purposes. Endurance Groupe Immobilier par Tardif disclaims all responsibility for any use that may be made of them.
Sources
Centris data (extracted by David Tardif, OACIQ registered broker). Cross-validation with the Centris HPI property price index (APCIQ). The Tardif Index methodology v2.1. Macroeconomic context: Bank of Canada (June 10, 2026 decision), Statistics Canada (May 2026 CPI), Ratehub.ca (5-year fixed mortgage rates, June 2026).
David Tardif, Real Estate Broker (OACIQ license E2815) — Endurance Groupe Immobilier par Tardif.
Also read: previous week’s bulletin · archives · methodology · David Tardif’s profile · newsletter.
Suggested citation: “The Tardif Index — Week 26, 2026”, Endurance Groupe Immobilier par Tardif. Reuse permitted under CC BY 4.0 license.