November 2025 Real Estate Market Trends

What’s happening as we head into winter

Overall, Calgary’s housing market is fairly balanced. Things are slowing down for the winter, which is normal for this time of year, but there are more homes for sale than last year, especially apartments and townhomes.

Big Picture

• Fewer people bought and listed homes in November, which is typical as winter approaches.

• There are more homes available than last year, giving buyers more choice.

• Prices are slightly lower overall, mostly due to an increase in condos and townhomes on the market.

• Detached and semi-detached homes remain fairly stable, while condos are seeing the biggest price drops.

The average benchmark home price in Calgary is now $559,000, about 5% lower than last year.

By Home Type

Detached Homes (Single-Family Houses)

• Sales were similar to last year.

• The number of homes for sale has come down slightly but is still higher than last year.

• Prices are down about 2% compared to last November, mostly due to seasonal trends.

• Over the full year, prices are still slightly higher than last year.

• Areas with lots of new construction (like the North and North East) are seeing more price pressure.

Bottom line: Stable and balanced, with mild price softening.

Semi-Detached Homes (Duplexes)

• Sales remain strong.

• More listings than usual have pushed inventory to a five-year high for November.

• Prices dipped slightly month-to-month but are about the same as last year.

• Over the year, prices are up nearly 3%, especially in the City Centre.

Bottom line: Still performing well, but with more balance than earlier in the year.

Row Homes / Townhomes

• Sales slowed compared to last year, which was unusually strong.

• The number of homes for sale is the highest for November since 2018.

• Extra supply is putting pressure on prices.

• Prices are down over 6% from last year and nearly 2% lower year-to-date.

Bottom line: Buyers have more choice, and prices are adjusting downward.

Apartment Condos

• This is the softest part of the market.

• A large number of condos are for sale, more than ever for November.

• Prices are down 7% from last year.

• Some areas, like the North East, are seeing bigger declines, while the West remains stable.

Bottom line: Strong buyer’s market with continued price pressure.

Surrounding Communities

Airdrie

• Market activity slowed seasonally.

• More newer homes are being resold, increasing supply.

• Detached home prices are down about 1% year-to-date, though still well above levels from a few years ago.

Cochrane

• A record number of homes for sale in November.

• Prices have adjusted slightly but are still nearly 2% higher than last year overall.

Okotoks

• Sales improved compared to October.

• Inventory remains low, keeping the market competitive.

• Prices are still higher than last year across all home types.

What This Means for Buyers & Sellers

• Buyers: More options, especially for condos and townhomes, and better negotiating power.

• Sellers: Pricing correctly is key—especially in higher-density homes.

• Detached homes: Still relatively stable with balanced conditions.