The housing markets of Montreal, Quebec City and Ottawa were lively in October, defying a slowdown in sales that has impacted even the consistently strong markets of Calgary and Edmonton.

Drawing upon the latest housing data for Canada’s largest metro areas — Greater Toronto, Greater Montreal, Metro Vancouver, Calgary, Edmonton, Ottawa and Quebec City — notable trend lines emerged.

Quebec's largest cities stayed resilient despite economic uncertainty that has impacted most of Canada. The Quebec Professional Association of Real Estate Brokers (QPAREB) reported October sales went up five per cent in Montreal and 16 per cent in Quebec City year-over-year.

Want to see how this compares to November of 2024? Here's our national housing trends wrapup from a year ago.

Contrasting that is a 9.5 per cent year-over-year decline in October sales for the Greater Toronto Area (GTA) and 14.3 per cent in Metro Vancouver, according to regional real estate boards. Even Calgary and Edmonton, widely viewed as some of Canada’s strongest housing markets, saw dips in sales activity.

All comparisons noted here are based on year-over-year data (i.e. October 2024 to October 2025).

The GTA

October data from the Toronto Regional Real Estate Board (TRREB) showed the average selling price of a home went down by 7.2 per cent, falling from $1.1 million to $1.05 million. The number of new listings went up from 15,646 to 16,069, a 2.7 per cent increase.

By housing type, the biggest sales declines were seen in single-family homes and condos, both off by 11 per cent. That was followed by townhomes at 8.5 per cent and semi-detached homes at 2.8 per cent.

But there might be some hope ahead.

“The monthly mortgage payment for an average-priced GTA home continued to trend lower in October, benefiting from both lower borrowing costs, and lower selling prices,” Jason Mercer, TRREB’s information chief, said in a release accompanying the data.

Home sales are projected to increase once there is more certainty about the direction of the economy, he added.

Greater Montreal

In its October report, QPAREB found 3,968 sales of residential properties in the Montreal area, up five per cent. The association said it was the fourth-best October since 2000. 

Single-family home sales were the highest in the month, rising by eight per cent to 2,065 units. Sales of multiplex units shot up 20 per cent to 479 units. The condo market saw a slowdown, however, with sales dipping by four per cent to 1,421 units. 

The median price for a single-family home was $632,000, rising seven per cent. The median price for a multiplex was $850,000, climbing by eight per cent. The price for a condo unit was $429,000, increasing by a more modest four per cent.

“The recent downward movement in the policy interest rate since September is reviving demand that is increasingly better prepared to seize opportunities,” Charles Brant, QPAREB’s market analysis director, said. “As a result, prices continue to rise, and selling times are dropping rapidly, particularly for single-family homes and, even more so, for small income properties.”

Metro Vancouver

The Greater Vancouver REALTORS reported a 14.3 per cent drop in sales in October – going from 2,632 to 2,255. The composite benchmark price for all residential properties in Metro Vancouver was $1.13 million, a 3.4 per cent decrease.

There were 693 detached home sales in October, a 4.3 per cent decrease. The benchmark price of a detached home also decreased by 4.3 per cent, reaching $1.9 million.

"Apartment home" sales numbered 1,071, a 23.1 per cent decrease. The benchmark price of an apartment home was $718,900, a 5.1 per cent decrease.

Attached home sales in October were 477, falling by 4.8 per cent. The benchmark price of a townhouse decreased by 3.8 per cent to $1,066,700.

“Even the fourth cut this year to the Bank of Canada’s policy rate this October wasn't enough to entice more buyers back into the market,” Andrew Lis, Greater Vancouver REALTORS’ chief economist and vice-president of data analytics, said in the report.

Calgary

The Calgary Real Estate Board (CREB) reports sales declined by 13 per cent in October to 1,885. The average price of a residential property went down by 4.1 per cent to $568,000.

Prices for a single-family home decreased by 1.3 per cent to $744,400, while townhome prices fell by 5.6 per cent to $431,200.

On the other hand, semi-detached prices went up 0.9 per cent to $683,100 and condo prices rose by seven per cent to $318,200.

“Improved rental supply and easing rents have slowed ownership demand for apartment- and row-style homes,” Ann-Marie Lurie, CREB’s chief economist, said. Excess supply for both properties is “weighing on prices in those segments more so than any other property type, influencing total residential prices.”

Edmonton

In the Greater Edmonton Area, home sales fell by 17 per cent to 2,061, according to October data from the REALTORS Association of Edmonton. However, the average selling price across all residential property types increased by 3.2 per cent to $454,777.

Some types of housing saw notable declines, such as sales for townhomes, semi-detached housing and condos slowing over 20 per cent.

Prices for a single-family home, semi-detached home and condo increased, while for a townhome it decreased.

The October numbers suggest a natural seasonal slowdown, observed Darlene Reid, the association's 2025 board chair.

Ottawa

September home sales in Ottawa went up 2.4 per cent to 1,089, according to the Ottawa Real Estate Board. It came in 0.4 per cent below the five-year average and 3.3 per cent below the 10-year average for the month.

The composite benchmark price of an Ottawa home in September was $627,200, increasing by 1.1 per cent. The average price of homes sold in September was $690,397, a slight gain of 0.3 per cent.

The benchmark price for single-family homes was $697,200, rising by one per cent. Townhome prices inched up by 7.8 per cent to $462,800.

Quebec City

In October, 1,031 home sales were recorded in Quebec City by QPAREB, a 16 per cent increase. The association called it a historic high for the month.

Sales of single-family homes went up 19 per cent to 660 units and shot up 24 per cent to 103 for multiplex units. The Quebec City condo market showed more modest growth; sales rose by six per cent to 267 units.

Median prices went up for all types of housing. Prices for single-family homes went up 11 per cent to $449,900; condo prices rose 17 per cent to $315,000; multiplex prices spiked by 25 per cent to $550,000.

“The recent downward trend in interest rates since September has been the trigger for those who have been debating a decision over the summer to make a move,” QPAREB's Brant said in the announcement.