Calgary Market Shifts: Inventory Climbs, Prices Soften

THE DAILY PULSE

Calgary's real estate market registers a typical seasonal cooldown. Today saw 70 home sales against 101 new listings. Active listings across the city now total 5,948 units. This daily influx of new properties, outpacing sales, continues to build available inventory.

Implication: Buyers gain immediate choice and face less urgency, while sellers should anticipate longer market times.

MONTHLY TRENDS

November's market activity solidifies a shift towards balance. Month-to-date, 1,415 sales have occurred against 2,107 new listings. This widening disparity significantly expands buyer options. The monthly average price currently stands at $615,049, signaling a moderation from previous peaks and aligning with recent CREB reports of slight month-over-month price adjustments, particularly in the row and apartment segments due to elevated supply.

Implication: Sellers entering the market must price competitively and ensure properties are impeccably presented to stand out, as buyers now command greater selection and negotiation power.

YEAR-OVER-YEAR CONTEXT

Year-to-date, Calgary has recorded a robust 21,529 total sales with an average price of $629,522. While population growth underpins long-term demand, current conditions reflect price softening compared to prior rapid acceleration. Stable 5-year mortgage rates holding at 6.09%, combined with inventory levels up 30-36.5% year-over-year, are transitioning the market away from previous highs. This expanded supply offers particular opportunities in apartment and row-style properties.

Implication: Buyers should leverage this period of increased choice and stable, albeit high, rates to seek long-term value, especially in more affordable segments. However, affordability remains a critical concern for many, particularly first-time purchasers.