Montreal Plex: $880,000 in June 2026, an All-Time High

In June 2026, the median price of 2-to-5-unit plexes in the Montreal area reached $880,000, up about 5.9% year over year. That is an all-time high for the segment, and it comes even as overall sales volume fell about 8%. A market that sells less but pays more for the plex: the signal is worth a closer look. For the full monthly picture, see our June 2026 real estate statistics.

A record against the volume trend

The Montreal area recorded about 4,012 residential sales in June 2026, down roughly 8% year over year. With transactions this scarce, you might expect downward pressure on prices. For the plex, the opposite happened: at a $880,000 median, the segment set a new high. Falling sales counts and a rising median price do not contradict each other, they describe two distinct forces acting at the same time.

Why the plex keeps appreciating

A plex is bought first for what it earns, not for owner living. Three forces support its value: structurally scarce supply, since few new duplexes and triplexes are built on the island; rising rents, driven by low vacancy; and investor demand for a tangible asset producing recurring income. When limited supply meets demand that does not weaken, prices climb regardless of how many deals close.

What a 5.9% gain really means

Comparing segments is telling. In June 2026, the single-family median rose about 3.5% year over year and the condominium about 2%. The plex, at +5.9%, moves clearly faster. That gap reflects a different logic: single-family homes and condos track household borrowing capacity, which is sensitive to rates, while the plex answers to a yield calculation. As long as rental income justifies the price, the investor stays in the market.

What it changes for a buyer-investor

At an $880,000 median, the barrier to entry is real. Plex mortgage qualification includes part of the rental income, which helps, but the required down payment stays substantial, especially beyond four units where financing shifts to different rules. The most accessible path to a first plex remains owner-occupied: living in one unit and renting the others lowers the required down payment and lets rents finance part of the mortgage. Before any offer, an honest cash-flow calculation, including taxes, maintenance and vacancy, separates a good buy from a trap.

What it changes for a plex seller

A median price at its peak opens a window for anyone considering a sale. But the regional median is not your price: a plex is valued by its area, its unit count, the state of its leases and the real income it generates. Two triplexes at the same asking price can be worth very different amounts depending on whether rents are at market or below it. Capital-gains tax and coordination with current leases must be planned ahead. Pricing anchored on recent comparables, rather than on the all-time-high headline, remains the key to a fast sale at the right price.