November 2025 Calgary Housing Market: Cooling Pace, Rising Choice & Smart Moves for Winter Buyers and Sellers
November 2025 brought meaningful shifts to Calgary’s housing market, with rising inventory giving buyers more choice and prices moderating across several segments.
With nearly two decades of helping Calgary buyers and sellers navigate changing market conditions, I’ve seen how the winter season can create real opportunities for those who understand the numbers. In this month’s update, I break down what’s changing, what’s steady, and how to make confident real estate decisions in Calgary right now.
I’m Marnie Campbell, Calgary REALTOR® and team lead at RE/MAX First, and my goal is simple: translate complex market data into clear, practical guidance so you can buy or sell with zero guesswork — even in a shifting season.
November 2025 Calgary Market Snapshot
- Sales: 1,553 (⬇ ~13% year-over-year)
- New Listings: 2,251 (⬇ ~3% year-over-year)
- Inventory: 5,581 homes (⬆ ~28% YoY — the highest November level in five years)
- Sales-to-New-Listings Ratio: ~69% — balanced with slight seller lean
- Months of Supply (MoS): 3.59 — up from October’s ~3.43
- Total Residential Benchmark Price: $559,000 (⬇ ~4.6% YoY)
- Year-to-Date Sales: 21,631 (⬇ ~16% YoY)
What “Months of Supply” Tells Us
MoS estimates how long current inventory would take to sell at today’s pace. <2.5 = seller’s market, 3–4 = balanced, >4 = buyer’s market. At 3.59, Calgary remains balanced overall — but the higher-density segments are clearly tilting toward buyer-friendly conditions.
Key insight: Although activity eased this month, a reduction in new listings helped prevent an even larger bump in supply. Still, the city is entering winter with more choice than we’ve seen in several years — especially for row and apartment buyers.
Catching up? See how the fall shift began in the October 2025 Calgary Market Update.
Calgary Prices — November 2025
| Segment | Benchmark Price | MoM | YoY | Market Signal |
|---|---|---|---|---|
| Total Residential | $559,000 | ⬇ ~1.3% | ⬇ ~4.6% | Balanced |
| Detached | $733,000 | ⬇ ~1.4% | ⬇ ~2.1% | Stable, near 3 MoS |
| Semi-Detached | $671,700 | ⬇ ~1.7% | ~flat YoY | Balanced |
| Row / Townhome | $424,400 | ⬇ ~0.9% | ⬇ ~6.2% | Softening (~3.5 MoS) |
| Apartment | $309,300 | ⬇ ~1.7% | ⬇ ~7.2% | Buyer’s market (~5.5 MoS) |
Property Type Breakdown
Detached
- Sales: 823
- New Listings: 1,075 (SNLR ~77%)
- Inventory: 2,444
- Months of Supply: ~2.97
- Benchmark Price: $733,000
Market insight: Detached continues to hold steadier than the higher-density segments. Price softness is most noticeable in districts facing strong new-build competition, while the City Centre and West remain comparatively resilient.
Semi-Detached
- Sales: 166
- Inventory: 546
- Months of Supply: ~3.29
- Benchmark Price: $671,700
Market insight: This segment is seeing the smallest year-over-year price movement. Well-presented semis — especially newer infills — continue to draw steady buyer attention.
Row / Townhomes
- Sales: 257
- Inventory: 901
- Months of Supply: ~3.51
- Benchmark Price: $424,400
Market insight: Elevated supply has shifted row homes firmly into negotiation territory. Expect more active competition from both resale and new-build product.
Apartment Condominiums
- Sales: 307
- Inventory: 1,690 (a record high for November)
- Months of Supply: ~5.50
- Benchmark Price: $309,300
Market insight: Buyers have time and leverage here. Due diligence — reserve funds, fee history, special assessments — is critical for long-term value.
District Notes (Quick Hits)
- City Centre & West: Stronger pricing floor; detached and semi-detached continue to show stability.
- North East & East: Largest year-over-year price declines across townhomes and apartments.
- South & South East: Balanced overall, though higher-density segments are feeling supply pressure.
What This Means for Buyers
November and December can be excellent months to purchase — quieter competition and more negotiable conditions.
- Capitalize on soft segments: Townhomes and apartments offer the most room to negotiate on both price and terms.
- Detached under ~$750K is calmer: The fall pace has eased, giving buyers more space to evaluate options carefully.
- Look for long-term value: Prioritize layout, natural light, and community over short-term price dips.
- Think ahead to spring: Many buyers who purchase now gain value as competition returns in Q1.
What This Means for Sellers
Buyers are selective — and they’re analyzing listings more closely than they did earlier in the year.
- Launch strategy is everything: A compelling first impression leads to stronger showings and better offers.
- Avoid chasing the market: Strategic pricing upfront protects your negotiating power.
- High-density units must shine: Strong marketing is key when inventory rises.
- Preparation pays off: Clean, staged, and well-documented homes stand out in a more competitive environment.
Key Takeaways (TL;DR)
- Calgary sits at ~3.59 months of supply — balanced with pockets leaning toward buyers.
- $559,000 benchmark price — down ~4.6% YoY.
- Detached & Semi: Holding steady with balanced conditions.
- Row & Apartment: Highest supply; best leverage for buyers.
- YTD sales: 21,631 (⬇ ~16%).
FAQ — November 2025
The city overall is balanced, but the experience varies by segment: detached and semi are steady; row is softening; apartments are firmly buyer-leaning. Townhomes and apartments — especially in districts with elevated new-build supply or above-average inventory. Use recent pendings and active competition as your guide. Well-priced detached homes still attract steady demand. A thoughtful launch: professional visuals, staging, and pricing aligned with buyer expectations for the season.Is Calgary in a buyer’s or seller’s market right now?
Where do buyers have the most negotiating power?
How should I price my detached home this winter?
What single factor improves a sale the most?
Next Steps: Plan Your Move with Confidence
Even in a cooler season, opportunities are everywhere — the key is understanding where they are. Whether you’re preparing to buy, sell, or start planning for 2026, my team and I are here to guide you through every step with clarity and expertise.
Your next step? Book your 15-minute market game plan and learn how November’s trends affect your goals.
Marnie is a trusted Calgary REALTOR® with 18+ years of experience, over 800 real estate transactions, and 150+ five-star reviews. She leads a team dedicated to helping clients make confident, no-regret real estate decisions.
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Disclaimer: This blog post is based on Calgary Real Estate Board (CREB®) data and current market analysis. This is not financial advice. Please consult a licensed real estate professional before making decisions.
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