By Malvinder S. Tiwana | Tiwana Real Estate Team, Grand Realty | www.maltiwana.ca
The Calgary Real Estate Board’s (CREB®) latest market update for October offers an insightful snapshot of how market dynamics are shifting across property types and communities. While the pace of new listings has slowed and overall inventory has slightly eased, the broader picture points to a market gradually balancing out after an intense cycle of growth and supply constraints.
The October report highlights both opportunities and caution for buyers and sellers alike — with detached and semi-detached homes holding steady while apartment and row-style properties experience price softening under rising inventory pressure.
Slower Listing Growth Prevents Inventory Surge
According to CREB®, Calgary ended October with 6,471 active listings and 1,885 sales, placing the months of supply at 3.5 — down slightly from September’s four months. This modest rebalancing suggests that, while conditions are no longer as tight as earlier this year, the market remains far from oversupplied.
The easing in inventory came largely from a pullback in new listings combined with a pickup in sales, indicating that housing demand remains steady even as affordability pressures persist.
Ann-Marie Lurie, CREB® Chief Economist, noted that the slowdown in ownership demand for apartments and row houses has been influenced by improved rental supply and softening rents, which are easing the urgency for buyers in these segments.
Benchmark Prices Slip as Supply Balances Out
Citywide, Calgary’s unadjusted residential benchmark price dropped to $568,000 in October — down about 1% from September and more than 4% year-over-year. While detached and semi-detached homes remain relatively stable, row and apartment-style homes have seen price declines of 6% and 7% respectively compared to last year.
These figures underscore a key shift: while housing prices across Calgary had climbed steadily in prior years, particularly for entry-level and multi-family segments, the market is now adjusting to increased supply and more cautious buyer sentiment.
Detached Homes: Balanced Conditions and Modest Price Adjustments
Detached homes remain the backbone of Calgary’s real estate market, and October data reflects stability rather than sharp correction. With 1,012 sales and 1,593 new listings, the sales-to-new-listings ratio climbed to 64%, pushing inventories slightly down to 2,913 units.
The benchmark price for detached properties eased to $744,400, marking a 1% decline from last year. However, regional differences remain notable — the City Centre recorded modest price gains near 2%, while the North East saw price drops exceeding 5%.
Overall, detached housing remains a relatively balanced market, with nearly three months of supply. Buyers have more options than last year, yet sellers continue to benefit from steady demand. Compared with the high volatility of the 2015–2019 cycle, current conditions are healthier and more sustainable.
Semi-Detached Segment: Stability Amid Slightly Higher Inventory
The semi-detached category recorded 186 sales in October with inventory levels holding at 613 units, translating to a little over three months of supply. Though higher than the ultra-low levels of the previous year, this supply remains manageable.
The benchmark price for semi-detached homes came in at $683,100, nearly 1% higher than last year, and 3% higher year-to-date. The data points to resilience in this mid-tier segment, as many buyers continue to view semi-detached homes as a balanced compromise between affordability and space.
Row Homes: Record Inventory and Downward Price Pressure
The row housing market tells a different story. With 275 sales and record-high inventory of 1,054 units, this segment now represents one of the most oversupplied areas of Calgary real estate.
The benchmark price dropped to $431,200, down 1% from September and 6% lower than last year. Year-to-date prices have dipped by 1.5%, with the North East and North districts seeing the most significant drops.
Despite the cooling trend, demand for row homes remains above long-term averages, reflecting their ongoing appeal to young buyers and investors seeking affordability in newer communities.
Apartment Condominiums: Buyer’s Market Continues
For apartment-style condominiums, conditions have remained firmly in buyer’s market territory for six consecutive months. With 1,891 units in inventory and 412 sales, supply levels hover near five months, putting persistent downward pressure on prices.
The benchmark price fell to $318,200 — a 7% year-over-year decline and 2% drop year-to-date. The North East and South East districts saw the steepest adjustments (around 4% down) as resale units faced stiff competition from new developments offering incentives and modern amenities.
This environment presents potential bargain opportunities for first-time buyers and investors, but sellers in this segment will need to price strategically to attract attention in a crowded market.
Regional Highlights
Airdrie: Inventory Pressure Persists
Airdrie’s inventory reached 535 units, with 136 sales, keeping the months of supply above four. Elevated listings and competition from the new home market have pushed prices downward. The benchmark price fell to $520,400, nearly 5% below last year.
Buyers in Airdrie now enjoy more options than they have in recent years, while sellers must adapt to longer selling times and competitive pricing strategies.
Cochrane: Sales Strength Balances Supply
Cochrane’s October performance was steady, with sales activity keeping pace with last year and a sales-to-new-listings ratio of 55%. Inventories have stabilized, bringing the months of supply to just over four months.
The benchmark price in Cochrane stood at $585,200, over 2% higher year-over-year and 4% higher year-to-date. This growth may be partly attributed to a greater share of new homes entering the resale market, drawing buyers seeking modern features and affordability just outside Calgary.
Okotoks: Gradual Return to Balance
Okotoks saw a surge in new listings (91 units) but slower sales, dipping the sales-to-new-listings ratio below 50%. While inventories are improving, they remain below long-term averages, keeping price stability intact.
The benchmark price rose slightly to $618,600, consistent with last October and 1% higher year-to-date — evidence that Okotoks continues to maintain strong underlying fundamentals amid regional fluctuations.
What This Means for Calgary Home Buyers and Sellers
October’s statistics mark a turning point in Calgary’s housing market narrative. After several months of tightening conditions, the market is now gradually easing into balance:
- Buyers now face more inventory and negotiating room, especially in apartment and row segments.
- Sellers in detached and semi-detached markets still benefit from relatively stable demand and limited oversupply.
- Investors should monitor rental market trends, as easing rents may temporarily reduce short-term demand but improve long-term affordability and stability.
The adjustment phase underway could serve as a healthy recalibration, helping the Calgary market avoid overheating while maintaining steady growth in established neighborhoods and emerging suburban communities.
Final Thoughts
Calgary’s housing market in late 2025 reflects a maturing phase — one defined not by rapid spikes or plunges, but by balance. Detached and semi-detached homes continue to hold value amid steady sales, while multi-family units correct from earlier highs.
For consumers, the message is clear: this is a time for strategy, not panic. Sellers should align pricing with shifting buyer expectations, and buyers can take advantage of new opportunities in more affordable segments.
As Calgary continues to grow and diversify, understanding these nuanced shifts is key for making informed decisions in the months ahead.
Source: Calgary Real Estate Board (CREB®) Media Release – “Pace of new listings growth slows, preventing further inventory gains”
Reviewed and interpreted by: Malvinder S. Tiwana
Tiwana Real Estate Team | Grand Realty, Calgary
www.maltiwana.ca
