While most housing markets in the communities surrounding Calgary closed out 2025 with declining values, two notable towns stood out as clear exceptions. According to recent data from the Calgary Real Estate Board (CREB), only Canmore and High River managed to post year-over-year gains in their benchmark home prices by the end of December.
A Tale of Two Markets: Gains Amidst a Regional Slowdown
The resale real estate scene in Calgary's outlying areas generally softened as 2025 concluded. However, the picturesque mountain town of Canmore led the way with a three per cent annual increase in its benchmark price. By December, the typical home in Canmore was valued at $1,069,900. This price resilience occurred even as sales activity in the town fell sharply, dropping nearly 24 per cent compared to December of the previous year.
To the south, High River also demonstrated market strength. The community saw its benchmark price grow by nearly two per cent year-over-year, reaching $489,100 in December. Unlike Canmore, sales in High River remained essentially flat for the month, showing neither significant growth nor decline.
Contrasting Declines in Other Communities
The story was markedly different in other nearby markets, where benchmark prices universally retreated. Airdrie, the largest of the outlying markets, experienced the most significant decline. Its benchmark price fell more than six per cent to $511,200. Sales in Airdrie also dropped precipitously, down nearly 16 per cent—the largest sales decrease in the region.
Other communities saw more modest price corrections, though supply levels increased across the board. Key data points from December include:
- Cochrane: Benchmark price down about one per cent to $560,600, but sales grew approximately 10 per cent.
- Chestermere: Benchmark price fell about one per cent to $688,800, with sales off nearly three per cent.
- Okotoks: Benchmark price decreased almost two per cent to $600,000, despite sales increasing nearly four per cent.
- Strathmore: Benchmark price was down about two per cent to $421,500, even as sales grew by 12.5 per cent.
Rising Inventory Points to a Buyer's Market
A critical factor influencing these markets is the notable rise in available inventory. Supply increased in every community analyzed, shifting conditions in favour of buyers. Strathmore's market now holds the highest inventory, with more than eight months of supply available—a level that typically indicates a strong buyer's market where prices face downward pressure.
The divergent paths of Canmore and High River compared to their neighbours highlight the localized nature of real estate. Factors such as unique appeal, limited available land for new development, and specific buyer demand can insulate certain markets from broader regional trends, as evidenced by the sustained price growth in these two Alberta towns through the end of 2025.
