Pace of new listings growth slows, preventing further inventory gains

Inventory & Sales: Inventory eased to 6,471 units, with 1,885 sales, bringing months of supply down to 3.5 months (from 4 in September).

Market Balance: Detached and semi-detached homes remain relatively balanced, while row and apartment segments continue to show excess supply.

Prices: The overall benchmark price fell to $568,000, down 1% monthly and 4% annually—driven mainly by declines in row (-6%) and apartment (-7%) prices.

Sales Trend: Year-to-date (YTD) sales reached 20,082 units, down 16% from last year but aligned with long-term trends.

Detached Homes

Sales: 1,012 units sold (↑ from September, ↓ 5% YoY).

Listings: 1,593 new listings; sales-to-new-listings ratio at 64%.

Inventory: 2,913 units, slightly above long-term trends; balanced with ~3 months of supply.

Prices: Benchmark at $744,400, down 1% YoY.

City Centre: +2% YoY

North East: -5% YoY

YTD Prices: Still 1% higher than last year.

Semi-Detached Homes

Sales: 186 units (↑ from last month).

Listings: Slower new listings; sales-to-new-listings ratio 57%.

Inventory: 613 units (~3 months of supply).

Prices: Benchmark at $683,100, nearly 1% higher YoY; YTD up 3%.

Row Homes

Sales: 275 units; YTD sales down 17% (3,412 units total).

Listings: Record-high new listings and inventory (1,054 units), 32% above long-term average.

Supply: ~4 months of supply.

Prices: Benchmark at $431,200, ↓1% MoM, ↓6% YoY; YTD prices ↓1.5%.

Districts Impacted Most: North East and North.

Apartment Condominiums

Sales: 412 units; inventory 1,891 units, ~5 months of supply (buyer’s market).

Prices: Benchmark at $318,200, ↓1% MoM, ↓7% YoY.

YTD Prices: ↓2% overall.

Largest Declines: North East and South East (-4%).

Regional Markets

Airdrie

Sales: 136; inventory high at 535 units (~4 months of supply).

Listings: Record-high for October.

Prices: Benchmark $520,400, ↓1% MoM, ↓5% YoY; trend down since April.

Cochrane

Sales: Improved this month; YTD consistent with 2024.

Listings: Slightly down; sales-to-new-listings ratio 55%.

Inventory: Just over 4 months of supply (aligned with long-term trends).

Prices: Benchmark $585,200, steady MoM, ↑2% YoY, ↑4% YTD.

Okotoks

Listings: 91 new (↑ significantly YoY).

Sales: Slowed, ratio <50%, slight inventory gain.

Prices: Benchmark $618,600, ↑ MoM, steady YoY, ↑1% YTD.