Calgary Real Estate Market Update: October 2025
Balanced Conditions Return as Inventory Levels Ease
After months of building inventory, Calgary’s real estate market showed early signs of improving in October. The market is taking a breather and inventory levels eased compared to September, thanks to a combination of fewer new listings and a modest pickup in sales activity.
With 6,471 units in inventory and 1,885 sales, the months of supply dipped back to three and a half months, down from four in September. This shift suggests that while supply has increased in some segments, the overall market remains stable and balanced, particularly for detached and semi-detached homes.
Sales Trends and Market Dynamics
So far this year, Calgary has recorded 20,082 sales, down nearly 16% from last year but still consistent with long-term averages. The slowdown has been concentrated in condos and townhomes, where increasing supply has shifted the balance toward buyers.
Improved rental supply and dropping rents have eased ownership demand and reduced pressure on the entry-level ownership market (i.e. dropping rents are keeping people renting). These conditions have led to record-high October inventories for condos and towns - a key factor weighing on prices in those categories.
As of October, the total benchmark price across all residential property types in Calgary was $568,000, down 1% month-over-month and 4% year-over-year.
What This Means for Investors
For investors, the last month was great news as inventory for condos and townhomes kept falling, consistent with seasonal trends we have seen in prior years. Months of supply for detached and condos started to decline which is the catalyst for future price growth (the market needs to churn through the available inventory before prices can rise again). Town months of supply was up slightly so hopefully this is just lagging and starts to come down in November.
November and December are typically very slow months in Calgary and I don’t expect anything different this year - sales and new listing activity will continue to drop and so will prices (very marginally though). The worrying statistic is Days on Market which is still stubbornly high (around 2 months for condos and townhomes) but might be a reflection of sellers trying to get the prices from the beginning of the year and needing to reduce prices - if you are listing your property for sale today, you need to be aggressive on the price to get it sold so that you don’t trail the market down over a few months.
With rents stabilizing and inventory leveling, patient investors should just sit tight and ride out the market (that’s what I’m doing). For those investors that need to sell or want to deploy capital elsewhere, now is the time to sell, otherwise you should wait until the spring market next year when the market traditionally picks up.
Stay informed, stay patient, and get in touch if you want to look at the opportunities available in today’s market.
Considering An Investment?
Investing in Calgary right now is about finding the value deals - developers are offering incredible deals on many of their projects - unheard of a year ago.
With cash flow positive properties, deposits as low as 5%, and closings as late as 2028, it’s definitely worth considering.
DETAIL BY PROPERTY TYPE
(Statistics from the Calgary Real Estate Board)
Condos
Apartment condos remain the most supply-heavy segment, with the largest drops seen in the North East and South East - areas also seeing heavy new condo construction.
Sales: 412 (down 26.4% from Oct 2024)
New Listings: 791 (down 6.9%)
Inventory: 1,891 (up 23.2%)
Months of Supply: 4.6 (buyer’s market)
Days on Market: 52 (up from 35 days)
Benchmark Price: $318,200 (down 6.9%)
Townhouses/Row Houses
The row home segment continues to face downward pressure from record supply levels, the highest October level ever recorded and 32% above long-term averages.
Sales: 275 (down 22.1% from Oct 2024)
New Listings: 520 (down 0.6%)
Inventory: 1,054 (up 34.4%)
Months of Supply: 3.8 (balanced market)
Days on Market: 50 (up from 31 days)
Benchmark Price: $431,200 (down 5.6%)
Detached Houses
Detached properties continue to be the backbone of Calgary’s market. This segment remains balanced, offering a healthier dynamic than what was seen between 2015 and 2019.
Sales: 1,012 (down 5.5% from Oct 2024)
New Listings: 1,593 (up 3.7%)
Inventory: 2,913 (up 32.5%)
Months of Supply: 2.9 (balanced market)
Days on Market: 37 (up from 32 days)
Benchmark Price: $744,400 (down 1.3%)
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