François Legault, the head of Quebec’s provincial government, has listed his 8,000-square-foot house in Montreal’s upscale Outremont neighborhood for C$4.99 million, or about US$3.97 million.
Mr. Legault and his wife, Isabelle Brais, have owned the eight-bedroom, eight-bathroom home just north of downtown for more than two decades, property records indicate. Mansion Global could not independently confirm how much they paid for the property, but Montreal newspaper La Presse reported they paid C$1.15 million in 1998.
The premier is selling partly because his two sons, Xavier and Victor, no longer live at home—and because Mr. Legault now spends significant time in Quebec City, the provincial capital, according to listing agent Joseph Montanaro of Re/Max Action Westmount in Montreal..
“It was a great house to raise a family; it’s a lot of house for two people,” Mr. Montanaro said.
Mr. Legault and Ms. Brais are “staying in Montreal, but want something smaller,” his communications director told La Presse in French. Mansion Global could not immediately reach Mr. Legault for comment.
The house, which was listed on Tuesday, is hitting the market at a time of record prices and historically low inventory in Montreal.
“The market is bananas. There’s a frenzy for homes,” Mr. Montanaro said. “There are only 10 houses for sale in Outremont. I’ve been involved in several bidding wars for properties at this price level. Prospective buyers are waiving inspection clauses.”
The house occupies an 18,000-square-foot lot, which is “very unusual” for Outremont, according to Mr. Montanaro. “It’s also flat land, so it’s usable,” he said.
Built in 1916 for confectionery magnates the Viau brothers, the “grand Victorian” home is extraordinary for its “sheer size,” Mr. Montanaro said. While HVAC systems and mechanicals have been completely updated, the home has maintained original architectural details like crown moldings and parquet floors, he added.
The home’s grand entry foyer features porcelain tiles and French doors. Along with the spacious living room and a formal dining room, an “immense” kitchen boasts a large center island and ample counter and storage space.
On the second level, the home’s primary bedroom features an en-suite bathroom and multiple closets. Four other bedrooms share the second level, along with a bathroom and den. The third floor includes a “gigantic” family room, an office with wood moldings and a vaulted ceiling, two more bedrooms and a bathroom.
The home’s amenities include an in-ground pool and “one of the oldest home theaters I’ve ever seen, like a miniature version of a classic cinema,” Mr. Montanaro said. A coach house concealed behind the home could become a guest house or staff quarters, he said.
According to a March report from the Quebec Professional Association of Real Estate Brokers, “median prices continue to accelerate dramatically against a backdrop of overbidding” across greater Montreal. At the top end, prices keep pushing skyward as well. The Legault home’s near-C$5 million price tag would have been “unimaginable” a decade ago, said Felix Jasminof Engel & Völkers Montreal, who specializes in Outremont real estate.
“When I got into the business 15 years ago, we saw very few transactions passing the C$2-million mark,” he said. “Now, C$6 million to C$7 million transactions are the next threshold.”
Mr. Jasmin said that 11 homes in Montreal had sold for more than C$5 million since 2020, according to a local database. In the five years before that, a total of 21 homes sold over that amount.
“I’ve said to clients for years that Montreal’s undervalued. It’s still inexpensive for what it has to offer. It compares so well to all major cities of North America,” he said. Increased political stability in Quebec is also making investors feel more comfortable, he said.
“Everyone’s under the impression they’re overpaying, and then the next house sells, and they’re reassured,” Mr. Jasmin added.