The Calgary real estate market experienced a noticeable shift in November, with home sales declining as a significant boost in available inventory applied downward pressure on prices, according to the latest data from the Calgary Real Estate Board (CREB).
Market Dynamics Shift in November
The key driver behind November's cooling market was a marked increase in the number of homes listed for sale. This surge in inventory provided prospective buyers with more options and reduced the intense competition that had characterized much of the previous year. As supply began to outpace demand, the market balance tilted, creating conditions where sellers had to adjust their pricing expectations to attract offers.
The sales activity for the month clearly reflected this change in dynamics. Compared to the robust sales figures seen earlier in 2025, November's numbers showed a definitive drop. This seasonal cooldown was more pronounced than in recent years, directly linked to the expanding selection of properties on the market.
Impact on Home Prices Across the City
The most immediate consequence of increased inventory and softening sales was a discernible impact on home prices. The CREB report indicates that the benchmark price for a home in Calgary edged downward in November. This price adjustment was observed across several housing types, including detached single-family homes, townhouses, and apartment-style condominiums.
While prices remain well above levels from a few years ago, the November data signals a potential stabilization or correction phase following a prolonged period of rapid appreciation. Analysts suggest this could offer a slight window of opportunity for buyers who were previously priced out of the market, though affordability challenges persist due to higher interest rates.
Broader Context and Future Outlook
The November figures, reported on December 1, 2025, provide a crucial snapshot as the year draws to a close. The market's performance contrasts with the peak activity typically driven by spring and summer buying seasons. Experts from the board point to a combination of factors, including economic uncertainty and higher borrowing costs, contributing to more cautious consumer behaviour.
Looking ahead, the Calgary Real Estate Board will be monitoring whether the increased inventory levels are absorbed in the coming months or if they signify a longer-term trend. The final month of the year will be critical in setting the tone for the 2026 market. Real estate professionals advise both buyers and sellers to seek current, localized advice, as conditions can vary significantly between neighbourhoods and property types within the city.