Montreal’s housing market is sharply divided this spring. In residential neighborhoods, open houses are drawing crowds, bidding wars are common, and houses often sell above asking price. Meanwhile, downtown condos – particularly high-end units – are sitting on the market longer than sellers expected. For buyers and sellers, the experience depends entirely on property type and location.
Joëlle Bitar, a broker who since 2007 has managed nearly 100 properties at a time across Montreal, the South Shore, and the North Shore, sees a clear split. Houses and plexes (duplexes, triplexes, etc.) are attracting multiple offers, while downtown condos are seeing little activity. “We’re getting two, three offers on houses and plexes,” Bitar says. “But condos in downtown Montreal? We’re not having a lot of activity.”
Why the Split?
A number of trends help explain the current situation. The shift to remote work has changed what buyers want from their homes. With more people working from home full-time or several days a week, extra space has become a top priority. A two-bedroom condo that once seemed spacious now feels cramped when it doubles as an office. Houses and plexes offer more room for home offices, outdoor spaces, and separation between work and living areas – advantages most condos can’t match.
This change is also driving more buyers out of the city center. Many families and professionals who previously needed to live near downtown offices are now choosing suburban neighborhoods with larger homes and lower prices. As a result, demand is shifting away from urban condos and toward houses in outlying areas.
Investors are also focusing more on plexes than condos. Multi-unit residential properties offer rental income, making them attractive to both local and international investors. Condos, which generally have less income potential, are less appealing to this group and are seeing less activity as a result.
What Buyers and Sellers Can Expect
If You’re Buying a House or Plex: Competition is strong. Multiple offers are common, so buyers may need to act quickly and present strong offers with proof of financing. Waiting too long might mean missing out to another buyer. In today’s market, bidding slightly above asking may be necessary to secure a property. Getting pre-approved before starting your search is essential for moving fast when the right home appears.
If You’re Buying a Condo: Downtown condos, especially luxury units, are sitting on the market longer, giving buyers more room to negotiate. Patience pays off. There’s often space to request price reductions, closing cost credits, or repairs if a property has been listed for several weeks. Focus on units with features that stand out – such as outdoor space, parking, or flexible layouts that support remote work. Condos with balconies or potential home offices are selling better than those without.
If You’re Selling a House or Plex: Demand is on your side, but resist the urge to inflate your sale price. Homes that are competitively priced attract multiple offers and sell quickly. Even slight overpricing can cause a property to sit longer than necessary. Sellers should stage their homes, invest in professional photos, and be ready to review several offers within the first week.
If You’re Selling a Condo: Realistic expectations are key. Downtown condos are taking longer to sell, so sellers may need to be patient and flexible on price. Offering incentives, such as covering several months of condo fees or including appliances, can help make a listing stand out. High-quality marketing – professional photos, virtual tours, and a strong online presence – is more important than ever. If a condo has been on the market for more than two weeks without serious interest, it may be time to adjust the price.
What’s Next for Montreal Real Estate
Bitar expects the current market split to persist at least for the next several months. “I don’t think it’s going to slow down, and I don’t think it’s going to become crazy booming either,” she says. “I think it’s just going to stay stable.” This stability means buyers have time to shop and negotiate, while sellers who price strategically can still expect strong results.
For now, Montreal’s real estate market is defined by a clear gap. Understanding where your property fits in this market is essential to making a successful move.
About the Expert: Joëlle Bitar is a certified real estate broker and team leader at RE/MAX Action, where she has operated in the Montreal market since 2007. Her team averages over $165 million in annual volume and has been ranked among the top 50 RE/MAX teams worldwide.
This article is based on information provided by the expert source cited above. It is intended for general informational purposes only and does not constitute legal, financial, or real estate advice. Readers should conduct their own research and consult qualified professionals before making any real estate or financial decisions.
