Overview: Inventory Records and a Widening Property Type Gap
October 2025 brought further evidence that Calgary's housing market is undergoing a meaningful structural shift. According to the CREB monthly statistics released November 3, 2025, total residential sales reached 1,885 units, a 13.01 percent decline from October 2024. New listings came in at 3,233, essentially flat year over year, while active inventory surged to 6,471 units, a 30.18 percent increase from the same month last year.
"Improved rental supply and easing rents have slowed ownership demand for apartment- and row-style homes. It is also these segments of the market that have seen October inventories reach a record high for the month," said Ann-Marie Lurie, CREB's Chief Economist. "Excess supply for apartment- and row-style properties is weighing on prices in those segments more so than any other property type, influencing total residential prices."
The total residential benchmark price reached $568,000, a 4.14 percent decline from October 2024. At 3.43 months of supply city-wide, the overall market sits in the upper end of the balanced range, but that aggregate number masks the significant divide between property types. Detached and semi-detached homes remain relatively tight, while apartments have crossed into buyer's market territory with over four months of supply.
October 2025 Calgary by the numbers: 1,885 sales, 3,233 new listings, 6,471 active listings, 3.43 months of supply, and a total residential benchmark price of $568,000.
October 2025 Sales and Listings Activity
The 1,885 residential sales in October represent a continuation of the demand softening trend that began earlier in 2025. New listings at 3,233 were nearly flat year over year, meaning the inventory buildup is driven primarily by the demand side rather than a flood of new sellers. Active listings at 6,471 mark a record high for October in the apartment and row segments specifically, as CREB's economist noted.
Days on market averaged 43 for the month, up from lower figures seen in the tighter markets of 2023 and early 2024. The average sale-to-list price ratio held at 97.43 percent, indicating sellers are still achieving close to asking price overall, but the leverage has shifted. Buyers who were previously forced into bidding wars now have options, and that choice is translating into longer decision timelines and more selective offers.
The gap between property types is widening with each passing month. Detached sales held up relatively well compared to apartments, where the combination of increased rental supply alternatives and higher ownership costs has meaningfully dampened buyer urgency. Year-to-date figures show the detached segment performing considerably better on both price and sales volume than the higher-density segments.
Gold dashed line marks the 4-month buyer's market threshold. Source: CREB Monthly Statistics, October 2025.
Calgary Home Prices by Property Type in October 2025
The total residential benchmark price of $568,000 in October 2025 is down 4.14 percent year over year, but that figure blends very different stories across the four main property types. Detached and semi-detached homes have absorbed significantly less downward pressure than row homes and apartments, reflecting the tighter supply conditions in those segments.
Source: CREB Monthly Statistics, October 2025
Detached Homes
Detached homes remained Calgary's most resilient property segment in October 2025. The benchmark price of $744,400 represents a modest 1.26 percent year-over-year decline, the smallest correction of any property type. With just 2.88 months of supply, detached homes sit firmly in balanced territory, and several districts continue to see supply well below two months. Sellers of well-priced detached properties in tight districts are still achieving close to list price with reasonable days on market.
Semi-Detached Homes
The semi-detached segment was the only property type in Calgary to post a positive year-over-year benchmark price change in October 2025, with prices up 0.90 percent to $683,100. At 3.30 months of supply, conditions remain balanced. This resilience reflects the limited new supply pipeline for semi-detached product and consistent demand from buyers seeking attached living at a price point between detached and condos.
Row Homes and Townhouses
Row homes experienced more significant price softening in October, with the benchmark falling 5.56 percent year over year to $431,200. The 3.83 months of supply is approaching the upper end of the balanced range. The combination of increased new construction completions in the row segment and competition from the rental market has weighed on resale prices. Buyers in this segment have more choice and a bit more negotiating room than they did a year ago.
Apartment Condominiums
The apartment condominium market is under the most pressure in Calgary. With 4.59 months of supply, the segment has crossed into buyer's market territory, and the benchmark price of $318,200 is down 6.88 percent year over year. Record-high October inventory in the apartment segment, as highlighted by CREB's chief economist, reflects a structural shift: improved rental supply has given renters alternatives, reducing the sense of urgency to purchase. Apartment buyers in October 2025 have genuine negotiating power and considerable selection.
Source: CREB Monthly Statistics, October 2025
The semi-detached segment was the only property type to post a year-over-year price gain in October 2025, up 0.90 percent, while apartments absorbed a 6.88 percent decline and crossed into buyer's market territory at 4.59 months of supply.
Calgary Real Estate Prices by District in October 2025
October 2025's district-level data shows widespread price softening across Calgary, with no district recording a year-over-year benchmark price gain. The North East and East districts are experiencing the sharpest corrections, largely driven by their heavier concentration of apartment condominiums. The West and North West are holding up better, supported by stronger detached fundamentals.
Source: CREB Monthly Statistics, October 2025. Total residential benchmark, all property types combined.
West District: Best-Performing Area
The West district recorded the smallest year-over-year benchmark decline of any Calgary district in October 2025, at 3.8 percent. The detached segment in the West continues to benefit from limited supply and sustained demand from higher-income buyers. With benchmark detached prices still well above the city average, West remains one of Calgary's premium markets and has absorbed the broader correction more gracefully than most other districts.
North West District: Balanced and Stable
The North West posted a 2.1 percent year-over-year total benchmark decline in October, the second-best performance among all districts. The detached and semi-detached segments in the North West have seen relatively modest price erosion compared to the city-wide average, supported by consistent demand and low supply in those property types. The North West's apartment market has seen more softening, which partially drags down the overall district benchmark.
City Centre and South: Moderate Corrections
City Centre recorded a 3.8 percent total benchmark decline year over year, driven significantly by the apartment segment where supply levels are elevated. The South district is down 3.4 percent, with the apartment and row segments contributing most of that correction. The South's detached market remains relatively healthy by comparison, with months of supply holding in the balanced range and prices down a more modest 1 to 2 percent year over year in most communities.
South East: Above-Average Correction
South East's 4.4 percent total benchmark decline puts it in the higher-correction category among Calgary districts. The apartment and row segments in this district have seen the most supply accumulation, with prices down well into the five-to-seven percent range year over year. Detached South East homes have fared better but have not been immune to the broader market softening.
North East and East: Sharpest Declines
The North East and East districts are experiencing the most pronounced corrections in October 2025, with total benchmarks down 7.8 percent and 6.8 percent respectively. These districts have the highest concentration of apartment condominiums relative to other property types, and the apartment correction is hitting hardest in areas where condo supply is plentiful and rental competition is strongest. Buyers targeting affordability in the North East and East have genuine selection and meaningful negotiating room.
What October 2025 Data Means for Calgary Buyers
For buyers targeting detached homes in Calgary's stronger districts, October 2025 still requires a disciplined approach. Supply in the West, North West, and South detached segments remains limited, and well-priced properties continue to attract multiple offers in certain communities. Come pre-approved, be prepared to act within a reasonable timeline, and do not expect dramatic discounts in the tighter sub-markets. The supply advantage buyers have enjoyed in other segments does not apply equally here.
If your target is an apartment condominium, October 2025 is one of the more favourable buying environments Calgary has seen in several years. With 4.59 months of supply city-wide and benchmark prices at $318,200, you have genuine selection, negotiating room, and time to make a considered decision. In the North East and East, where apartment supply is highest and prices have fallen the furthest, buyers can find value that simply did not exist in 2022 or 2023.
Row home buyers have a middle-ground experience. Supply has risen to the point where there is real choice and some price flexibility, particularly in districts like the South East and North East. But the more desirable communities and price points continue to see reasonable activity. Identifying which micro-markets within a district are tightest will give row home buyers a significant advantage in setting realistic offer strategies.
What October 2025 Data Means for Calgary Sellers
Sellers in October 2025 must engage with the market as it actually is, not as it was in 2022 or 2023. Average days on market have extended to 43, and the sale-to-list ratio of 97.43 percent, while still solid, reflects a buyer pool that is more selective and less urgency-driven than previous years. Pricing precision is the most important tool a seller has right now. Overpriced listings will sit and accumulate days-on-market history that buyers use to negotiate harder.
Detached sellers in the West, North West, and South with limited local supply are still in a relatively strong position. If your property is priced correctly and well-presented, October's market still rewards you with a competitive result. But even in these stronger markets, the leverage of 2022 bidding wars is gone. Set expectations accordingly and focus on price, condition, and marketing.
Apartment sellers face the hardest environment in Calgary's current market. With 4.59 months of supply and prices down nearly seven percent year over year, the competitive landscape heavily favours buyers. If you must sell an apartment in October 2025, aggressive pricing from day one is essential. Waiting and reducing is costlier in a buyer's market than pricing correctly upfront and selling efficiently.
Outlook: What to Watch Through Year-End
The trajectory heading into the final months of 2025 is one of continued normalization. Sales volumes are expected to remain below prior-year levels as the market digests elevated inventory, particularly in the apartment and row segments. The record October inventory highlighted by CREB does not resolve quickly; it typically takes multiple months of restrained new listings and improving demand to meaningfully reduce supply levels.
The wildcard for the year-end period is interest rate movement. Any meaningful reduction in borrowing costs before the end of 2025 could pull forward latent buyer demand and reduce the supply-demand imbalance, particularly in the apartment segment. Buyers who are rate-sensitive and sitting on the sidelines are watching closely. A rate cut could accelerate activity faster than many expect.
For the detached market, watch supply figures closely. If months of supply stay below three in the West, North West, and South through November and December, those segments may show price resilience or even modest gains heading into 2026. The structural story of limited detached supply in Calgary's most desirable areas has not changed, and any demand recovery will hit those segments first.
Data sourced from CREB Monthly Statistics Package, City of Calgary, October 2025. Released November 3, 2025.
