Downtown Montreal Real Estate - January 2024 Downtown Core/Ville Marie borough

Downtown Montreal Market Report January 24th 2025

Unsurprisingly the market has not improved significantly in the Downtown Montreal area by January 2025. With condo fees increasing, a ban on foreign buyers until the end of 2026, and interest rates still higher than the current inflation rate, the market still favours buyers rather than sellers.

The number of new listings is still greater than the number of sales, although the gap has been greatly reduced.

The columns in red are the number of new listings and the yellow columns are the number of sales. Usually there would be a more significant drop in November and December but with lower interest rates, there was some additional incentive for buyers to make offers.

Below is a chart representing the median sale price versus the median asking price. As you can see, the median sale price is gradually catching up with the median asking price, which reflects improved market conditions at the end of the year.

With the bank of Canada meeting very soon and a rate drop being the expected outcome, we should be looking forward to overall market conditions gradually improving over the next few months.

Click here for the full market report (source Centris data using Prospects)