Market Conditions Remain Relatively Balanced Heading Into Winter

As Calgary moves into the winter months, the real estate market is behaving much as expected for this time of year. Sales, new listings, and inventory levels all eased compared to last month, reflecting normal seasonal slowdowns rather than a sudden market shift.According to the latest data from the Calgary Real Estate Board (CREB®), November recorded 1,553 sales, alongside 2,251 new listings. This brought the sales-to-new-listings ratio up to 69%, helping stabilize inventory levels after several months of growth.While inventory did decline slightly month-over-month, Calgary still ended November with 5,581 active listings—28% higher than last year and over 15% above typical November levels.

November 2025 Calgary Market Snapshot

• Sales: 1,553
• New Listings: 2,251
• Sales-to-New-Listings Ratio: 69%
• Active Inventory: 5,581 homes
• Benchmark Price: $559,000 (⬇️ ~5% YoY)
  
  

Supply Remains Elevated—But Not Everywhere

“Supply levels have been sitting higher than typical levels for the past three months, mostly due to the gains occurring in the higher-density sectors of row and apartment-style units,” said Ann-Marie Lurie, Chief Economist at CREB®.

Much of this increased supply is tied to:

• New home completions entering the resale market
• Improved rental availability reducing urgency for ownership
• Higher-density developments reaching completion late in the year

As a result, buyer’s market conditions are more common in apartment-style homes, and to a lesser extent row homes. However, detached and semi-detached properties remain relatively balanced across most of the city, with only a few localized exceptions.

How Prices Are Responding

The additional supply is having the greatest impact on higher-density housing:

• Apartment Condos: ⬇️ 7% year-over-year
• Row / Townhomes: ⬇️ 6% year-over-year
• Detached Homes: ⬇️ 2% year-over-year, but still higher on a year-to-date basis

The total combined residential benchmark price in November came in at $559,000, nearly 5% lower than November 2024. While prices have softened, it’s important to note that values remain well above pre-pandemic levels, and the recent adjustments reflect a more normalized market rather than a sharp downturn.

A More Balanced Calgary Market

After several years of intense seller-market conditions, Calgary’s housing market is now operating in a more balanced environment—especially outside the condo segment. Buyers are no longer facing the same urgency, and sellers are adjusting expectations accordingly.
This balance is healthy. It allows:

• Buyers to make more informed, confident decisions
• Sellers to compete on pricing, presentation, and marketing rather than speed alone

What This Means for Buyers and Sellers

For Buyers
If you’re considering an apartment or townhome, winter 2025 may offer strong opportunities. More inventory and less competition can translate into better pricing and negotiation power. Detached homes remain competitive but far less frenzied than in previous years.
For Sellers
Detached and semi-detached homes continue to perform steadily in most areas. Strategic pricing and professional marketing are more important than ever—especially in higher-density segments where inventory remains elevated.

Thinking of Buying or Selling This Winter? Let’s Talk Strategy

Calgary’s real estate market is no longer about rushing—it’s about making smart, informed decisions. Whether you’re planning to buy, sell, or simply want to understand what these trends mean for your home’s value, I’m here to help.

📞 Contact me today for a personalized Calgary market analysis and expert guidance tailored to your property type, neighbourhood, and goals.