Condo listings up 21% in Montreal in May 2026 — buyer window open

The Montreal CMA holds 20,959 active listings in May 2026, the ninth consecutive month of supply growth. The condo segment stands out: +21% listings over 12 months. Plex +10%, single-family +9%. With condo prices stable at $425,000 (QPAREB April 2026), it's the only segment where supply meets demand on the island of Montreal. For the global QPAREB April market context, see our QPAREB April 2026 analysis.

Why this 21% condo rise

Three structural causes converge. First: delivery of new projects accumulated since 2022-2024. Several residential towers (Griffintown, Downtown, Saint-Henri, Quartier des Spectacles) delivered simultaneously, swelling 2026 supply.

Second: investor exits. Rising condo fees (special assessments, contingency funds), the BoC overnight rate held at 2.25%, and net rental yield squeezed by municipal tax hikes push some landlord-owners to liquidate.

Third: owner-occupant mobility. Families seeking more space post-pandemic, remote workers migrating to suburbs, retirees leaving the city. These exits release condo stock to the market.

Prices stable at $425,000: equilibrium settling in

Despite supply explosion, median condo prices held stable at $425,000 in April 2026 (QPAREB). It's mechanical: demand stays solid, fueled by first-time buyers and shoppers finally finding a negotiable market. But it no longer suffices to push prices up.

Operational consequence: less systematic bidding, negotiation margins 3 to 7% under list price, days on market moved from 15-25 (2024-2025) to 35-50 in 2026.

Plex and single-family: similar but moderate trend

Plex listings +10%, single-family +9% over 12 months. The rise hits all segments but stays more moderate than condos. Causes: less new delivery, owners less inclined to sell in a tight plex market (+4% prices), single-family in structural high demand.

For these two segments, the supply rise hasn't yet shifted the dynamic. Plex remains seller-favorable (median $865,000, +4%), single-family too ($645,000, +3%). Watch H2 2026 if the trend persists.

Condo buyer strategy in May 2026

Target listings 30+ days on market: that's where negotiation margin is highest. Imperatively check the contingency fund and special assessment history (rising syndicate charges are one cause of investor exits). Request a full inspection report, especially on condos delivered before 2010.

Budget a reserve for potential special assessment. On aging condos (facade, windows, underground garage), an assessment of $5,000 to $30,000 per unit remains possible within 36 months of purchase.

Neighborhoods to favor

Neighborhoods where condo supply rose most offer the best margins: Griffintown, Downtown, Quartier des Spectacles, Saint-Henri for new builds. For resale with quality/price ratio, look at Verdun, NDG, Rosemont, Hochelaga-Maisonneuve where supply has rebuilt.

Hamza Taleb, OACIQ broker at RE/MAX (438 877-8525), works with clients on these neighborhoods and adapts offer strategy to days-on-market and syndicate quality.

Conclusion: window is open but can close

May 2026 marks a rare equilibrium point on the Montreal island condo segment. But this window isn't permanent. If the BoC cuts on June 10 and buyers regain confidence, upward pressure can quickly restart. For ready buyers, it's time to act.