September 2025 Real Estate Market Trends

A lot more homes are being listed than sold, which means there are more options for buyers and less pressure to make fast decisions. When there’s more choice and less competition, prices usually start to dip — and that’s what we’re seeing.

Big Picture

• September sales: 1,720 homes sold
• New listings: 3,782 homes added
• Total homes available: 6,916 (36% more than last year)

Apartments and row homes (townhouses) saw the biggest jump in supply.

According to economists, demand is slowing because fewer people are moving here and there’s more competition from rentals and new homes. With more options available, buyers aren’t rushing — and that’s putting downward pressure on prices.

Market Balance Is Shifting

• Only 45% of new listings sold in September — that’s low.
• There are now 4 months of inventory, the highest since early 2020.
• If this keeps up, the market could shift more in favour of buyers — though this depends on the area and type of home.

What’s Happening by Property Type

Detached Homes (e.g., single-family houses)

• Sales are down and listings are up.
• Prices dipped slightly to $749,900, about 1% lower than last year.
• Biggest price drops: North East & East Calgary (over 6% decline).
• Some areas like the City Centre still saw year-over-year increases.

Semi-Detached (duplex-style homes)

• Listings jumped and sales dropped.
• Inventory rose to almost 4 months of supply.
• Prices: $684,800, slightly down from last month but still 1% higher than last year.
• City Centre drove most of the price gains.

Row Homes / Townhouses

• New listings are up slightly; sales down.
• Inventory is the highest since 2018.
• Prices: $437,100, down less than 1% from last month and about 5% from last year.
• North East saw the biggest increase in supply and the biggest price drop.

Apartment Condos

• This segment is seeing the biggest shift.
• Lots of new listings (924) but fewer sales (401).
• Inventory is up to nearly 2,000 units.
• Prices dropped to $322,900 — down 6% from last year.
• North East condos saw the biggest price drop (over 10%); City Centre had the smallest (around 5%).

Surrounding Areas

Airdrie

• Record-high new listings.
• Inventory is up and prices are trending down.
• Current price: $526,000, down 5% from last year.

Cochrane

• Also saw record new listings.
• More homes available and less pressure on prices.
• Current price: $584,300, down slightly from last month but still 1% higher than last year.

Okotoks

• Unlike other areas, listings were low.
• Market is still tighter here.
• Prices dropped to $613,900, down about 3% from last year.

The Takeaway

• There are more homes to choose from almost everywhere.
• Prices are starting to soften, especially for condos and townhomes.
• Detached and semi-detached homes are holding up better, but could shift if supply keeps climbing.
• The North East has seen the biggest changes, while the City Centre has been more stable.
• Surrounding cities like Airdrie and Cochrane are seeing price drops due to more listings, but Okotoks is still relatively tight.