QPAREB describes summer 2026 as a transition and normalization phase after historic peaks. Across the province, the average price reaches $568,580 (+3.7% year over year) while sales ease to 9,300 (-5.7%). This contrast — prices up, sales down — sits at the heart of the transition we also break down in our summer 2026 outlook. Here is how to read this market and what it means for you.
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1. What « transition » really means
According to QPAREB, the market is entering a transition and normalization phase after historic peaks. In practice, sales are slowing (9,300 province-wide, -5.7%) without signalling a collapse. The association stresses that the market remains solid relative to its historical average. Normalization means a return to a more sustainable pace after years of overheating: less frenzy, more balance between buyers and sellers.
2. Prices hold despite the drop in sales
This is the signature of the transition: sales fall, but prices hold. Province-wide, the average price rises 3.7% year over year ($568,580) and 0.4% month over month. In the Montreal CMA, despite sales down 7% (4,623 transactions), the median single-family home reaches $645,000 (+3.2%), the condo $430,000 and the plex $875,000(+6.1%). Underlying demand stays strong against still-measured supply: as long as inventory does not clearly exceed demand, prices hold.
3. Supply is rebuilding: more choice
The other marker of normalization is the return of supply. In the Montreal CMA, the market is more abundant than a few months ago, and the sales decline spans every segment (condos -8%, single-family -6%, plex -5%). For buyers, this rebuilding inventory means more choice and more time to decide. After years of shortage and bidding wars, shopping becomes possible again without constant pressure — a major shift in climate.
4. The role of rate stability
The Bank of Canada holds its policy rate at 2.25%, a stance kept on June 10, 2026 (its fifth consecutive hold). This stability is a pillar of the transition: it gives households predictability. No urgency to buy ahead of a rise, no reason to wait for an imminent cut: decisions can be considered. The next announcement, on July 15, 2026, will be the first major milestone of the summer.
5. What it means for buyers and sellers
For buyers, the transition is rather favourable: more choice, less bidding pressure, a stable rate. It is the time to get pre-approved and compare seriously. For sellers, the message is clear: in a better-supplied market, the right price from the start makes all the difference. Prices hold at the median level, but overpriced homes stall while well-positioned ones, aligned with recent comparables, sell.