CREB®’s October 2025 report shows that the main change in Calgary’s market is concentrated in row homes and apartment condos. CREB said October inventories for both reached a record high for the month.
Row and apartment homes for sale in Calgary, October
Row homes
- 1,054 row homes were for sale, the highest October level ever and nearly 32% above long-term averages.
- Sales were 275 in October and 3,412 year to date, a 17% decline, though still well above long-term trends.
- Supply stayed around four months. The benchmark price was $431,200, nearly 6% lower than last year; year to date, prices are down 1.5%.
Apartment condos
- 1,891 apartments were for sale against 412 sales, nearly five months of supply.
- CREB said condos have had buyers’ market conditions for nearly six months.
- The benchmark price was $318,200, down over 1% from September and nearly 7% from last year. The North East and South East had the largest year-to-date declines, at 4%.
Why it is happening
“Improved rental supply and easing rents have slowed ownership demand for apartment- and row-style homes,” said CREB Chief Economist Ann-Marie Lurie. CREB added that excess supply in these segments is weighing on prices more than any other property type.
What it means: first-time buyers can negotiate on condos and townhomes. Investors should check current rents before buying, as rental competition is rising.
Compared with October 2024
The change from a year ago is clearest in sales. Row sales fell from 353 last October to 275, and apartment sales from 559 to 412, declines of 22% and 26%. Row inventory rose from 783 to 1,054 and apartment inventory from 1,595 to 1,891. As a result, row supply rose from 2.22 to 3.83 months and apartment supply from 2.85 to 4.59 months. Apartments now take 52 days to sell, compared with 35 a year ago, and row homes 50 days, compared with 31.
Months of supply, row and apartment homes, October
Compared with September
Month over month, the picture was steadier. Apartment inventory eased from 1,999 in September to 1,891 and months of supply from about five to 4.59, as new listings slowed from 924 to 791. Row inventory eased from 1,099 to 1,054. Prices kept adjusting, though: the apartment benchmark fell from $322,900 to $318,200 and the row benchmark from $437,100 to $431,200.
Prices by type
Median prices tell the same story. The median apartment sold for $302,250 in October, down from $315,000 a year earlier, and the median row home for $429,500, down from $437,500. CREB says that on a year-to-date basis, row prices are down 1.5%, which shows that most of the decline has come in recent months.
What it means for buyers
For first-time buyers, this is the best negotiating position in years. Compare units in the same complex, look at how long each has been listed, and review condo documents and reserve funds. A unit that has been on the market for two months or more may be open to a lower offer.
What it means for sellers and investors
Sellers should price against the most recent sales in their complex and make the unit stand out with good presentation. Investors should base their numbers on current rents, which CREB says are easing as rental supply improves, and allow for longer vacancies.
Local angle
The largest year-to-date apartment price declines were in the North East and South East, at 4%. Buyers there have the most room, while other districts have seen smaller declines.
How this compares with detached homes
The contrast with detached homes is striking. In October, detached supply was about 2.9 months and the detached benchmark was only 1% lower than a year ago, while apartment and row benchmarks were about 7% and 6% lower. CREB said excess supply in the row and apartment segments is influencing total residential prices more than any other type.
