Supply is increasing, but not evenly across all price segments.

As we head into winter, Calgary’s housing market is following typical seasonal trends, with slower activity compared to the fall, but year-over-year demand remains strong. November saw a mix of increased sales in detached, semi-detached, and row homes, though apartment condo sales slowed. Overall, 1,797 sales in November were on par with last year and 20% above long-term averages.

Detached Homes:
Sales for homes priced above $600,000 are rising, while lower-priced homes face limited supply. Although inventory improved, 85% of homes for sale were priced over $600,000, creating varied market conditions. The benchmark price for detached homes was $750,100, up over 7% from last year.

Semi-Detached Homes:
There were 173 semi-detached sales in November, up nearly 5% from last year, supported by more listings and higher supply. With two months of supply, conditions still favor sellers, particularly for homes below $700,000. The benchmark price was $675,100, nearly 8% higher than last year.

Row Homes:
Sales of row homes showed continued strength, rising nearly 3% year-to-date. Despite inventory improvements, supply remains tight with about two months of available homes. The benchmark price was $454,200, up nearly 7% from last year.

Apartment Condominiums:
Sales for apartment condos slowed from last year’s record, but still remained well above long-term trends. Increased listings pushed supply levels higher, easing price pressure. The benchmark price was $337,800, up 9% from last year.

Regional Highlights:

• Airdrie: Supply levels are returning to pre-2020 norms, with a 4% increase in the benchmark price, now at $543,300.
• Cochrane: A surge in new listings drove strong sales, with the benchmark price at $568,600, up 4% from last year.
• Okotoks: A dip in new listings kept inventory low, with prices rising 6%, bringing the benchmark price to $624,000.

Overall, the market remains active, though conditions vary by property type and price range.