Calgary Housing Market: Tracking Trends Amid Shifts
Calgary's housing market is seeing some dynamic shifts, with median prices experiencing a slight dip while new listings continue to climb. This suggests a potential softening from the intense seller's market we've grown accustomed to.
Diving into the daily grind, November 5th saw 56 homes change hands, a small bump from 55 the day before. However, new listings truly surged to 107 on November 5th, a confident jump from 96. Active listings are holding steady around 6,431. For potential buyers, this increased inventory, alongside a median price of $511,000 on November 5th (down from $533,000), indicates more selection and perhaps a bit more room for negotiation. The average price also decreased to $543,972 from $615,360, which for first-time buyers means a potentially lower entry point.
Looking at the broader monthly picture up to early November, total home sales hit 228, a noticeable increase from 172 at this point last month. New listings are also up substantially at 394, keeping the market well-supplied. The average price in November so far is $571,351, a slight decrease from October’s $580,265. This monthly softening, coupled with recent Bank of Canada interest rate cuts, is improving affordability for Calgarians and boosting buyer confidence. A 0.25% rate cut can save buyers around $90 per month on a $500,000 mortgage.
From a yearly perspective, Calgary's market remains resilient. Total sales for 2025 have reached an impressive 20,344 homes, showing a marginal increase from the previous month’s total. The median year-to-date price holds firm at $577,500, with an average price of $629,893 for the year. This stability, despite fluctuating daily and monthly figures, reflects strong fundamentals. With Calgary's population growing and a diversified economy, housing demand is expected to continue.
For buyers, the current environment with stabilizing prices and improving affordability, driven by lower mortgage rates, means opportunities are emerging, especially for entry-level and mid-range homes. However, don't delay, as prices are still expected to climb moderately through 2025.
Sellers should be aware that while demand is improving, competitive, market-aligned pricing is crucial. The market is shifting from a strong seller's advantage toward a more balanced state, offering buyers more options and potential negotiation power.
