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.