CREB® reported on December 1, 2025 that Calgary sales, new listings and inventory all slowed in November, in line with seasonal trends. The 1,553 sales met 2,251 new listings, lifting the sales-to-new-listings ratio to 69%.
Calgary benchmark price by type, November 2024 vs 2025
The main points
- Inventory was 5,581, 28% higher than last year and over 15% above typical November levels.
- The benchmark price was $559,000, nearly 5% lower than last year.
- CREB completed its annual review of the benchmark home and updated its price history, so figures may differ from earlier reports.
- CREB Chief Economist Ann-Marie Lurie said higher supply is mostly in row and apartment units, partly due to new homes ending up on the resale market near year-end.
By type
- Detached: 823 sales and 2,444 for sale, about three months of supply. The price was $733,000, nearly 2% lower; year to date it is still 1% higher. Most declines were in the North East, North and East.
- Semi-detached: 166 sales; inventory reached the highest November level in five years. The price was $671,700, stable from last year.
- Row: 257 sales; inventory was at a November level not seen since 2018. The price was $424,400, over 6% lower.
- Apartment: 307 sales and a November record of 1,690 for sale, with supply near six months. The price was $309,300, 7% lower; only the West district held flat.
Compared with October
The seasonal slowdown arrived in November. Sales fell from 1,885 in October to 1,553 and new listings from 3,233 to 2,251, so the sales-to-new-listings ratio rose from 58% to 69%. Inventory eased from 6,471 to 5,581. Months of supply was about 3.6, compared with 3.4 in October. Because CREB revised its benchmark price history this month, the November benchmark should be compared with the revised figures for a year ago rather than with October’s published number.
Calgary months of supply by type, November 2025
Compared with November 2024
A year ago, Calgary had 1,793 sales, 2,327 new listings and 4,355 homes for sale, with 2.4 months of supply. Sales are down 13%, inventory is up 28%, and homes are taking 49 days to sell instead of 37. On the revised series, the total benchmark of $559,000 is nearly 5% lower than last November’s $586,200. The median price fell about 2% to $560,000, while the average was unchanged at about $616,000.
Why supply is higher
Lurie said supply has been above typical levels for three months, mostly because of gains in row and apartment units. Part of that comes from the new homes sector, as some new units end up on the resale market, especially near the end of the year. Buyers’ market conditions are most common for apartments and, to a lesser extent, row homes, while detached and semi-detached markets remain relatively balanced outside a few pockets.
What it means for buyers
Winter is a good time for condo buyers. Apartment supply is about 5.5 months, the apartment benchmark is 7% lower than last year, and units take about two months to sell. Detached buyers have about three months of supply, with most price declines in the North East, North and East, so buyers in those areas have the most room to negotiate.
What it means for sellers
Sellers listing in winter face fewer buyers but also less competition than in the fall. Detached sellers are in a reasonable position, with a 77% sales-to-new-listings ratio. Condo sellers should expect a long sale and price below comparable active listings.
Local angle
Detached prices are still 1% higher than last year on a year-to-date basis, even after November’s decline. Calgary’s market has cooled, but the long-term gains of recent years remain largely intact for detached owners.
Row homes also had more choice: 901 were for sale in November, up from 655 a year earlier, with about 3.5 months of supply and a benchmark of $424,400.
