Detached home prices drop heavily in these five Calgary areas
The housing market in Calgary is seeing inventory climb, which is resulting in detached home prices dropping all over the city.
The Calgary Real Estate Board (CREB) just released its November housing report, and things are looking up for those looking to buy a detached home in the city.
While each major area in our city has seen a year-over-year decline in benchmark prices, five spots have seen a drop larger than the city average.Â
North East Calgary saw the most significant decline, with benchmark prices dropping to $571,900, a 4.86 percent decrease compared to this time last year. East Calgary followed closely behind with a 4.66 per cent decline, down to $507,000.
Each area in the city recorded a benchmark price decline compared to this time last year. North Calgary saw a decline of 4.23 per cent, down to $650,400, and South East Calgary’s benchmark price dropped by nearly three per cent, falling to $694,500.
Calgary Real Estate Board
The City Centre came in with the highest benchmark price among the areas at $944,500, which is a 1.07 per cent decrease from November 2024.
Combined, Calgary as a whole experienced a 2.15 per cent drop in benchmark prices, with the city’s median benchmark price being $733,000.Â
South Calgary led the way for sales last month, seeing 170 detached home sales, while East Calgary saw the least amount with only 33 sales. North West Calgary had the largest sales-to-new-listings ratio at 103 per cent, with 103 sales met with 100 new listings.
North East Calgary saw the lowest sales-to-new-listing ratio, with 105 sales met with 176 new listings. It also had the highest months of supply, a 4.21, meaning it would take over 4 months to sell all the homes currently on the market.Â
If you’re curious to see how the housing market in Calgary is shaping up, we dove into CREB’s full November report and how inventory is climbing through the city, as well as the most and least expensive neighbourhoods in Calgary.
You can view the full report online.