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.

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.

Balanced Market Conditions Emerge

• Inventory: Rose to 5,876 units, more than double last year’s low, now aligned with typical April levels.
  
  

• Sales: Down 22% year-over-year to 2,236 units, but consistent with long-term averages.
  
  

• Months of Supply: Nearly 3 months, signaling balanced conditions overall.
  

Prices Stabilize Amid Growing Supply

• Detached:
  
  

  • Sales: 1,102 (↓16% YoY)
    
    

  • Benchmark Price: $769,300 (↑2% YoY)
    
    

  • Inventory: 2,511 units | Supply: 2.3 months
    
    

• Semi-Detached:
  
  

  • Sales: 190 (↓16% YTD)
    
    

  • Benchmark Price: $691,700 (↑3% YoY)
    
    

  • Inventory: 484 units | Supply: 2.6 months
    
    

• Row Homes:
  
  

  • Sales: Slowed (↓16% YTD)
    
    

  • Benchmark Price: $457,400 (flat YoY)
    
    

  • Inventory: 1,005 units | Supply: ~3 months
    
    

• Apartments:
  
  

  • Sales: ↓30% YoY
    
    

  • Benchmark Price: $336,000 (↓3% from peak)
    
    

  • North East seeing highest supply (7 months) and 2% price drop
    

Regional Highlights

• Airdrie:
  
  

  • Sales: 185 | Inventory: Up, 2.3 months of supply
    
    

  • Price: $544,700 (flat YoY)
    
    

• Cochrane:
  
  

  • Sales: Steady | Price: $592,000 (↑6% YoY, new high)
    
    

• Okotoks:
  
  

  • Sales: Down 16% YTD | Inventory: 127 units (still below average)
    
    

  • Price: $627,100 (↑2% YoY)

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