Calgary Real Estate: As Calgary heads into the winter season, the housing market presents a mixed picture. While overall market conditions remain relatively balanced, distinct trends are unfolding, especially in the high-density sectors. The most notable shift is occurring in the Apartment Condominium Market, where sustained growth in available inventory has created favorable conditions for buyers seeking choice and value.
According to November 2025 housing statistics, the additional supply choice across the resale, new, and rental markets is having the largest impact on apartment-style home prices.
The Surge in Condominium Supply
The key dynamic shaping the current Calgary Condominium sector is the significant influx of available units. Inventory levels across Calgary are currently 28 per cent higher than last year, and over 15 per cent higher than typical levels reported for November. These gains are largely concentrated in the higher-density categories, including row and apartment-style units.
For the apartment condominium sector specifically, inventory has reached a record high for the month of November.
Key Supply Indicators (November 2025):
- Active Listings: Inventory stood at 1,699 units.
- Inventory Growth: This represents a massive increase of 92.19 per cent compared to November 2023 (884 units).
- Source of Supply: CREB®’s Chief Economist, Ann-Marie Lurie, noted that this additional supply choice is partially stemming from the new homes sector, with some units subsequently entering the resale market, particularly as the year draws to a close.
Market Conditions Shift to Favor Buyers
The combination of record inventory and sales slowing to levels consistent with long-term trends has resulted in a clear shift toward buyer’s market conditions for apartment-style homes.
A vital measure of market pressure is the Months of Supply (MOS). For apartment condominiums, the MOS has been sitting above four months since the summer and edged near six months in November. This high level of supply signals increased competition among sellers.
Sales and Price Adjustments
The elevated inventory levels have exerted relatively persistent downward pressure on prices throughout the second half of 2025.
- Benchmark Price: The unadjusted benchmark price for Calgary apartment condominiums in November 2025 was $309,300.
- Year-over-Year Decline: This price is 7% lower than the benchmark price recorded last November.
- Year-to-Date Decline: The year-to-date decline was just over 2%
- Sales Activity: November sales dropped to 307 units. This is a 28.44% decrease from November 2024 and a 45.37 per cent decrease from November 2023.
- Time on Market: Properties are taking longer to sell. The average Days on Market (DOM) in November 2025 reached 59 days, a 31.11% increase from the 45 days recorded in November 2024.
The impact of price adjustments varies across the city. The largest year-to-date decline (nearly 5%) occurred in the North East district, while the West district was the only area where prices remained flat.
Opportunity Knocks for Condo Buyers
While price adjustments and elevated months of supply signal a challenging environment for sellers, they represent significant opportunities for buyers.
The high level of choice, record inventory, and the prevalence of buyer’s market conditions mean that those looking to enter the Calgary real estate market or secure an investment property in the apartment segment are currently in a strong negotiating position. This sector offers the greatest value and selection seen in recent history, distinguishing it from the relatively balanced detached and semi-detached markets.
What record condo supply means for buyers today
The shift shows up clearly in the data. Calgary’s rental vacancy rate reached 5.0% by October 2025, up from 1.4% in 2023, after the city added close to 7,000 purpose-built rental units in 2024 (CMHC). More supply means more choice and far less pressure to rush a decision.
It shows up in prices too. Apartment-style homes now sit at a benchmark of $300,400 with 5.14 months of supply, the most buyer-friendly part of the Calgary market (CREB, as of May 2026). If you have been waiting to buy a first place or add a rental, this is room to negotiate, not a reason to worry. A good starting point is our step-by-step buyer’s guide, and you can browse current Calgary inner-city homes to compare.
The current Calgary Apartment Market is characterized by affordability and wide selection, making it an excellent time for serious buyers to engage.
Frequently asked questions about Calgary’s condo market
With apartment supply at 5.14 months and a benchmark of $300,400 (CREB, as of May 2026), buyers have more choice and negotiating room than they have had in years.
The city added nearly 7,000 purpose-built rental units in 2024, well above the historical average, and vacancy rose to 5.0% by October 2025 (CMHC). That extra supply gives buyers options.
Not for a long-term owner. A supply wave is temporary and gets absorbed as people keep moving to Calgary, while your purchase price stays fixed.