CREB® reported on October 1, 2025 that Calgary’s 1,720 September sales were not enough to absorb 3,782 new listings. Inventory rose to 6,916, 36% above last year and over 17% above typical September levels.
Calgary months of supply by type, September 2024 vs 2025
The main points
- The sales-to-new-listings ratio fell to 45%, and months of supply reached four for the first time since early 2020.
- The benchmark price was $572,800, about 4% lower than a year ago.
- CREB Chief Economist Ann-Marie Lurie pointed to rising supply in the resale, new home and rental markets at a time of slower population growth and uncertainty, which reduces buyers’ “sense of urgency.”
By type
- Detached: 859 sales and 1,905 new listings, a 45% ratio not seen since 2018. The price was $749,900, down nearly 1%; the North East and East fell over 6%.
- Semi-detached: 156 sales and 361 new listings; supply rose to nearly four months. The price was $684,800, nearly 1% higher than last year.
- Row: 304 sales and 1,099 for sale, the highest September level since 2018. The price was $437,100, nearly 5% lower.
- Apartment: 401 sales, 924 new listings and 1,999 for sale. Supply reached five months, the first time since 2021. The price was $322,900, over 6% lower.
What it means: if four months of supply persists, CREB says the market could shift further in favour of buyers.
Compared with August
September brought a boost in new listings. New listings rose from 3,478 in August to 3,782, while sales fell from 1,989 to 1,720. Inventory climbed back from 6,661 to 6,916, and months of supply jumped from 3.4 to 4.0. The benchmark price eased from $577,200 to $572,800.
Calgary months of supply, 2025
Compared with September 2024
A year ago, Calgary had 2,000 sales, 3,687 new listings and 5,068 homes for sale, with 2.5 months of supply. The sales-to-new-listings ratio has fallen from 54% to 45%, and homes are taking 42 days to sell instead of 28. The median price of $560,000 and the average of $615,005 were each about 1% lower than last September, and the benchmark was about 4% lower. Inventory is now over 17% above levels traditionally seen in September, with row and apartment homes showing the biggest boost compared with long-term trends.
Why demand is slower
Lurie said supply has been rising in the resale, new home and rental markets at a time when demand is slowing, mostly because of slower population growth and persistent uncertainty. Competition from new homes and more rental supply reduce the sense of urgency for potential buyers, and the extra choice is weighing on prices. CREB noted that four months of supply is more than is typically seen in Calgary and that, if it persists, the market could shift further in favour of buyers.
What it means for buyers
Apartment buyers are now in a buyers’ market, with five months of supply and prices down over 6% from a year ago. Detached buyers have more choice too, with 3.7 months of supply, though detached prices are only about 1% lower, with most of the adjustment in the North East and North. Buyers can take time to compare and negotiate, and should look closely at how long a listing has been on the market.
What it means for sellers
Sellers face the most competition since early 2020. A home priced above recent sales is likely to sit, especially in the condo and row segments. Prepare the home well, price from current sales and be ready to negotiate on conditions and possession dates.
Local angle
Conditions vary by type, price range and location. The established inner-city communities and the West remain firmer than the newer suburbs in the North East and North, where new construction adds the most competition.
