Market Overview

September saw 1,720 sales against 3,782 new listings, pushing inventory up to 6,916 units — 36% higher than last year. Both row and apartment-style homes posted the strongest supply gains. With slower population growth and more competition from rentals and new builds, demand has eased, placing downward pressure on prices.

The sales-to-new listings ratio dipped to 45%, while months of supply rose to four — the highest since early 2020. If this trend continues, conditions could shift further in favour of buyers, though impacts vary by property type and location.

Detached Homes

Sales fell to 859 units, down 9% year-over-year, while new listings climbed to 1,905. More supply pushed prices to $749,900, down about 1% from last month and last year. The largest declines occurred in the North East and East districts, though year-to-date prices remain slightly above 2024 levels.

Semi-Detached Homes

With 361 new listings and 156 sales, supply increased and the sales-to-new listings ratio slipped to 43%. Despite rising inventory, prices held firm at $684,800, nearly 1% above last year. Semi-detached homes continue to show the strongest year-to-date price growth, led by the City Centre.

Row Homes

Row properties recorded 304 sales and 592 new listings, keeping the ratio at 51%. Inventory rose to its highest September level since 2018. Prices eased to $437,100, about 5% below last year. The biggest declines came from the North East, North, and South East districts.

Apartment Condominiums

Apartments faced the steepest adjustments, with 401 sales and 924 new listings. Inventory reached 1,999 units, raising months of supply to five — the highest since 2021. Prices dropped to $322,900, down 6% year-over-year, with the sharpest declines in the North East.

Regional Markets

Airdrie: Record-high new listings and slower sales pushed inventory to 571 units. Prices slipped to $526,000, 5% lower than last year.

Cochrane: Supply surged to a record high, easing prices to $584,300, though still 1% above last year. Year-to-date prices remain up nearly 4%.

Okotoks: Unlike other regions, listings stayed lower. With sales steady, conditions remained tighter, but prices adjusted to $613,900, down 3% year-over-year.