In May 2026, ImmoMulti notes what APCIQ data confirms: the North Shore real estate market is slowing in volume, but the plex holds up. Across Greater Montréal (CMA), 4,623 residential transactions were completed in May 2026, a decline of nearly 7% compared to May 2025, according to La Presse and Radio-Canada. The key nuance: not all segments suffer equally. Condos fell 8%, single-family homes 6%, but plexes only 5% — and their median price rose to $875,000, +6.1% year-over-year, the best performance of all segments. For a North Shore plex owner considering selling, this two-speed market opens a precise window worth understanding before it closes.
Did real estate sales really decline 7% in May 2026 — and what does it mean?
The figures published by the Association professionnelle des courtiers immobiliers du Québec (APCIQ) confirm a clear slowdown in the metropolitan market. In May 2026, 4,623 residential sales were completed in the Greater Montréal CMA, a decline of nearly 7% compared to May 2025. This is a marked cooling after several quarters of more sustained activity.
This slowdown is not a complete surprise for those who follow the market: it fits within an economic context that deteriorated over the spring. But reducing this observation to "the market is declining" would be an analytical error, especially for an income property owner. The breakdown by segment tells a much more useful story.
Source: La Presse — "Les ventes immobilières ont reculé de près de 7 % en mai" (June 4, 2026) and Radio-Canada (June 2026), based on APCIQ data.
Are all segments declining equally — or are there significant gaps between the plex, single-family home, and condo?
The overall decline of nearly 7% masks significant gaps from one property type to another. This is precisely where the plex stands out. Here is the breakdown of May 2026 transactions by segment, according to APCIQ:
| Segment | Sales change (year-over-year) | Median price (May 2026) | Price change |
|---|---|---|---|
| Plex (2 to 5 units) | − 5% | $875,000 | + 6.1% |
| Single-family home | − 6% | $645,000 | + 3.2% |
| Condo | − 8% | $430,000 | + 0.6% |
The reading is clear: the plex declines the least in volume (−5%, versus −8% for condos) and it also shows the strongest price appreciation (+6.1%, versus only +0.6% for condos). In other words, in a contracting market, money and demand concentrate on multiplexes. For a plex owner on the North Shore, this is a signal of strength, not weakness.
Source: APCIQ data for May 2026, cited by La Presse, June 4, 2026.
Why does the plex hold up better than condos and single-family homes in a declining market?
The resilience of the plex is not a statistical coincidence: it stems from the very nature of this type of property. Three structural factors explain why the multiplex holds up when the rest of the market slows.
A dual buyer base
Unlike a condo, a plex attracts both the owner-occupant (who lives in one unit and rents the others to reduce housing costs) and the investor (who seeks rental yield). This dual demand creates a buffer: when one buyer segment retreats from the market, the other maintains price pressure. This is an advantage that neither the single-family home nor the condo possesses to the same degree.
Rental scarcity supports value
A plex's rental income is backed by rental demand that remains tight in Greater Montréal and particularly on the North Shore, where population growth remains strong. As long as units rent quickly, the economic value of an income property stays solid, even when transaction volume slows elsewhere.
An asset seen as a safe haven
In a period of economic uncertainty, a property that generates monthly income reassures more than a purely residential asset. The plex is seen as an investment that "works" — which explains why buyers still active in May 2026 are prioritizing multiplexes.
"The plex is the segment that declines the least, and it is also the one whose median price grows the most. When the market tightens, quality and yield become the criteria that matter."
— ImmoMulti's reading of APCIQ data for May 2026
How can the plex price rise 6.1% while sales volume is falling?
At first glance, the coexistence of falling sales and a rising median plex price may seem contradictory. It is not. This is the signature of a market tightening through supply rather than demand.
When the number of transactions falls because fewer properties are listed for sale — rather than because buyers disappear — competition among the rare sellers fades, while creditworthy buyers compete for limited inventory. Result: the median plex price rises 6.1% while volume falls 5%. This is a structurally favourable environment for the multiplex seller.
What this paradox means for a seller
Fewer plexes for sale = less competition for yours. A median price up 6.1% = buyers ready to pay for a quality income property on the North Shore. The combination of supply scarcity and price appreciation is precisely the window sought by owners considering selling their plex under favourable conditions.
Why does the unemployment rate rising to 7.7% in Montréal slow sales — but not plex prices?
If transaction volume is falling, it is largely due to a factor external to the real estate market itself. According to APCIQ, the slowdown is explained in part by the deterioration of the labour market and a demographic shift.
The figure speaks for itself: the Greater Montréal unemployment rate rose from 6.3% in January to 7.7% in April 2026, its highest level since the summer of 2016. A weakening labour market makes buyers more cautious and reduces the number of households ready to commit to a major transaction. This is what compresses sales volume — without, however, causing the value of the most sought-after assets like the plex to fall.
For a multiplex owner, this data cuts both ways. In the short term, it supports the argument for plex resilience. But it also invites clear-headedness: if the employment deterioration persists, the pool of creditworthy buyers could eventually shrink. Selling while the segment holds up, rather than waiting, then becomes a strategic decision.
Source: APCIQ context reported by Radio-Canada (June 2026). Greater Montréal labour market data.
Is now a good time to sell your plex on the North Shore?
What should you take away from all this if you own a plex or multiplex on the North Shore — in Laval, Terrebonne, Mascouche, Blainville, Saint-Jérôme, Boisbriand, or elsewhere in the northern suburbs? The May 2026 market brings together several conditions that favour the plex seller.
Three reasons why the moment is interesting
- The plex price is rising: +6.1% year-over-year, the strongest increase of all segments. Your property is appreciating while the rest of the market stagnates.
- Competition among sellers is low: with transaction volume declining, your plex stands out more to buyers who are still active.
- Demand is concentrating on multiplexes: remaining buyers favour income properties, an asset perceived as safer during uncertain times.
The risk of waiting
The other side of the coin is the employment factor. If the Greater Montréal unemployment rate continues to rise, buyer caution could eventually make itself felt, even in the plex segment. The current window — rising prices, demand concentrating on multiplexes — is not guaranteed to last indefinitely. To properly situate your property in the regional context, our in-depth analysis of the North Shore multiplex real estate market details prices per unit, cap rates, and city-by-city trends — a useful complement to this current-events reading.
ImmoMulti: direct buyer of multiplexes on the North Shore
Thinking of taking advantage of the current plex appreciation? We buy your income property directly across the entire North Shore, without an agent, without commission, and in complete confidentiality. Receive an offer within 48 hours, based on your property's actual income — without enduring the delays of a slower market.
Selling quickly, without being affected by the market slowdown
In a market where volume is falling, selling timelines on the traditional circuit tend to lengthen: more showings, more uncertain financing conditions, more waiting. A direct sale of a property to a specialized buyer bypasses this risk and converts the current plex appreciation into a concrete transaction, quickly. And to estimate what your multiplex is worth in this context, our multiplex yield calculation guide explains how to read the GRM and cap rate — the two indicators that truly determine your plex's value, well beyond the regional median price.
