October 4, 2025 — Calgary Real Estate Update
The 1,720 sales in September were not high enough to offset the 3,782 new listings coming onto the market, driving further inventory gains as we move into the fall. There were 6,916 units in inventory in September, 36 per cent higher than last year and over 17 per cent higher than levels traditionally reported in September.
"Supply levels have been rising in the resale, new home and rental markets. The additional supply choice is coming at a time when demand is slowing, mostly due to slower population growth and persistent uncertainty," said Ann-Marie Lurie, CREB Chief Economist.
In September, the sales-to-new-listings ratio dipped to 45 per cent, and the months of supply pushed up to four months for the first time since early 2020. The unadjusted benchmark price was $596,900 in September.
DETACHED — BALANCED MARKET
Sales in September slowed to 859 units, nine per cent lower than last year. New listings rose to 1,905 units, causing the sales-to-new-listings ratio to fall to 45 per cent — levels not seen since 2018. The unadjusted benchmark price was $749,900, down nearly one per cent from both last month and last year. The largest declines occurred in the North East and East districts at over six per cent.
SEMI-DETACHED — BALANCED MARKET
Semi-detached conditions remain more balanced than apartment and row-style homes. Prices have remained relatively stable compared to the steeper adjustments seen in higher-density properties.
ROW/TOWNHOME — SHIFTING TO BUYER'S MARKET
Row-style homes have seen the months of supply rise significantly over recent months. Inventory gains in this segment are among the largest relative to long-term trends, contributing to downward price pressure.
APARTMENT/CONDOMINIUM — BUYER'S MARKET
Inventory gains for apartment-style homes have contributed to buyer market conditions, driving year-over-year price adjustments of over six per cent. The benchmark price was $322,900 in September.