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Calgary Real Estate Market Update – November 2025
November followed typical seasonal patterns: sales, new listings, and inventory all slowed from the previous month. With 1,553 sales and 2,251 new listings, the sales-to-new-listings ratio improved to 69%, helping ease some inventory pressure. Inventory still sits 28% higher than last year and 15% above typical November levels, largely due to increases in row and apartment supply.
CREB® Chief Economist Ann-Marie Lurie notes that elevated inventory in higher-density sectors is creating more balanced to buyer-leaning conditions in row and apartment segments. Meanwhile, detached and semi-detached remain relatively balanced, though prices are adjusting downward in several districts.
Overall benchmark price trends remain seasonal, with total residential prices down compared to last year.
Quick Market Snapshot
| Metric | November 2025 | Y/Y Change |
|---|---|---|
| Sales | 1,553 | ↓ 13.4% |
| New Listings | 2,251 | ↓ 3.3% |
| Inventory | 5,581 | ↑ 28.2% |
| Months of Supply | 3.59 | ↑ 48.0% |
| Benchmark Price (Total Residential) | $559,000 | ↓ 4.6% |
By District – Benchmark Prices
| District | Benchmark Price | Y/Y Change |
|---|---|---|
| City Centre | $560,000 | ↓ 5.2% |
| North | $519,300 | ↓ 6.8% |
| North East | $476,900 | ↓ 7.2% |
| North West | $611,800 | ↓ 3.1% |
| West | $693,900 | ↓ 2.9% |
| East | $413,000 | ↓ 6.3% |
| South | $555,800 | ↓ 4.2% |
| South East | $551,300 | ↓ 4.3% |
By Property Type
| Property Type | Benchmark Price | Y/Y Change |
|---|---|---|
| Detached | $733,000 | ↓ 2.1% |
| Semi-Detached | $671,700 | ↓ 0.5% |
| Row | $424,400 | ↓ 6.2% |
| Apartment | $309,300 | ↓ 7.2% |
What This Means for You
Market Commentary
Balanced to Buyer-Friendly Conditions Emerging
Inventory has risen significantly compared to last year, especially in the apartment and row sectors where new construction supply is adding competitive pressure. This is driving steady price adjustments in these categories.
Detached & Semi-Detached More Stable
Detached and semi-detached inventory is improving but still closer to balanced territory. Price declines here are more modest and largely seasonal.
Higher-Density Segments Seeing the Biggest Shifts
Apartment and row prices are down 7% and 6% year-over-year, respectively. Months of supply is highest in these markets, contributing to persistent downward price pressure.
For Buyers:
More inventory options, especially in apartments and row homes.
Better opportunities to negotiate due to easing conditions in higher-density segments.
Detached and semi-detached remain steadier but still offer occasional leverage depending on district.
For Sellers:
Pricing strategy is critical — especially in sectors with elevated supply.
Detached and semi-detached homeowners may still experience balanced activity.
Apartment and row sellers should anticipate longer DOM and adjust expectations accordingly.
Disclaimer
Statistics sourced from CREB® (Calgary Real Estate Board). Data deemed reliable but not guaranteed. © CREB®.
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