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Calgary Real Estate Market Update – September 2025
Calgary’s housing market shifted further in September 2025, with rising new listings boosting inventory to its highest level since 2019. Sales slowed compared to last year, while months of supply climbed to four — the highest level since early 2020. These changes are softening conditions, moving the market away from the strong seller’s conditions of recent years.
CREB® Chief Economist Ann-Marie Lurie notes that while demand has cooled due to slower population growth and broader economic uncertainty, supply across resale, new homes, and rentals is climbing. This increased choice is weighing on prices, particularly for apartments and row homes, where buyer’s market conditions are emerging
Quick Market Snapshot
| Metric | September 2025 | Y/Y Change |
|---|---|---|
| Sales | 1,720 | ↓ 14% |
| New Listings | 3,782 | ↑ 3% |
| Inventory | 6,916 | ↑ 36% |
| Sales-to-New Listings Ratio | 45% | ↓ |
| Months of Supply | 4.02 | ↑ (more balanced) |
| Benchmark Price | $572,800 | ↓ 2.6% |
| Median Price | $562,500 | ↓ |
| Average Price | $584,811 | ↓ 2% |
| Average DOM | 37 days | ↑ |
By District – Benchmark Prices
| District | Benchmark Price | Y/Y Change |
|---|---|---|
| City Centre | $576,800 | ↑ 4.4% |
| North | $534,900 | ↑ 6.0% |
| North East | $485,000 | ↓ 7.9% |
| North West | $633,200 | ↑ 2.1% |
| West | $707,300 | ↑ 2.3% |
| East | $409,000 | ↑ 6.5% |
| South | $569,100 | ↑ 3.7% |
| South East | $563,800 | ↑ 3.2% |
By Property Type
| Property Type | Sales | New Listings | Inventory | Months of Supply | Benchmark Price | Y/Y Change |
|---|---|---|---|---|---|---|
| Detached | 859 | 1,905 | 3,201 | 3.73 | $749,900 | ↓ 1% |
| Semi-Detached | 156 | 361 | 617 | 3.96 | $684,800 | ↑ 1% |
| Row | 304 | 592 | 1,099 | 3.62 | $437,100 | ↓ 5% |
| Apartment | 401 | 924 | 1,999 | 4.99 | $322,900 | ↓ 6% |
What This Means for You
Market Commentary
CREB® reports that September’s slowdown reflects a market in transition:
Supply Growth: New listings rose modestly, but combined with softer sales, inventory levels surged — particularly for apartments and row homes.
Buyer’s Market Signals: The sales-to-new listings ratio dipped to 45%, and months of supply reached 4.0, shifting conditions toward buyers.
Price Pressure: Apartments saw the steepest declines, with benchmark prices falling more than 6% year-over-year. Detached homes, though easing, remain relatively resilient, down just 1% from last year.
District Variations: While North East and East districts posted the steepest price declines, City Centre and West Calgary remained stronger, reporting annual gains of 4–6%.
For Buyers:
More listings mean greater choice and negotiating power, especially for condos and row homes.
Detached homes are stabilizing, giving buyers more room to breathe compared to the tight seller’s market of recent years.
For Sellers:
Strategic pricing is key — particularly in the condo and row segments, where competition is strongest.
Detached sellers can still achieve strong results, but should remain mindful of rising inventory and pricing trends.
Disclaimer
Statistics sourced from CREB® (Calgary Real Estate Board). Data deemed reliable but not guaranteed. © CREB®.
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