Royal LePage forecasts home prices in Greater Montreal will rise by 6.5% in 2025 and 11% in Quebec City.
Montreal’s real-estate market is experiencing a surge, with experts predicting further price increases in 2025.
Residential sales jumped 47 per cent in November compared with the same month last year, marking the second-largest increase for November since 2000, according to the Quebec Professional Association of Real Estate Brokers (QPAREB). The rise follows October’s home sales rising around 44 per cent compared with the same month last year.
The association attributed the boost to strong performances in plexes, which rose 61 per cent, single-family homes, up 49 per cent, and condominiums, seeing a 41-per-cent rise.
Despite only a modest increase in property listings, demand continues to outstrip supply, pushing prices higher.
Looking ahead, Royal LePage forecasts home prices across Quebec to rise in 2025 by seven per cent, with Greater Montreal projected to see a 6.5-per-cent increase and Quebec City an 11-per-cent jump.
Royal LePage, which provides services to around 20,000 real-estate professionals across Canada, said the expected growth is due to ongoing demand, limited inventory and overall economic resilience.
This forecast follows a year of four consecutive interest-rate cuts by the Bank of Canada, which have made it easier for buyers to afford homes. The market also faces increasing geopolitical uncertainty, with U.S. president-elect Donald Trump threatening a trade war.
“While Quebec continues to demonstrate great economic resilience, trade issues with the U.S. and the 2025 Canadian federal election could introduce some volatility,” said Dominic St-Pierre, executive vice-president of Royal LePage.
“Talk of possible tariff increases by the new Trump administration raises questions, but we believe that hasty action would be unlikely, given the economic interdependence between the two countries,” he said.
This report will be updated.