Calgary home prices are falling as housing market cools into 2026
Every home type in Calgary saw a decline in prices compared to this time last year, signalling a cooling market heading into 2026.
The Calgary Real Estate Board (CREB) released its December 2025 housing report, and it looks like Calgary’s housing market is settling into more balanced conditions for the new year.
Compared to December 2024, the average residential price in Calgary dropped by 4.7 per cent to $554,700. Apartment prices saw the largest year-over-year decline at 7.4 per cent, dropping to $303,600, followed by row-style housing, which saw a 5.6 per cent decrease to $421,300.
Calgary Real Estate Board
Detached and semi-detached home prices also declined. Detached home prices fell by 2.6 per cent to $726,900 while semi-detached homes saw a 1.6 per cent decline to $666,800.Â
2025 brought some significant changes to Calgary’s housing market compared to last year. The city saw a nine per cent increase in new listings compared to 2024, causing a massive shift in inventory levels.
“Supply levels were expected to rise in 2025. However, the growth was higher than expected, especially for apartment condominiums and row homes. This weighed on prices in those sectors enough to offset the annual gains reported for both detached and semi-detached homes,” said AnnMarie Lurie, CREB’s Chief Economist, in a release.
Inventory levels saw a 28.9 per cent increase compared to this time last year, pushing the months of supply up by a whopping 50.9 per cent, to 3.43 months, meaning that it would take over three months to sell all the homes on the market.
This year marks the first time in three years that Calgary is heading into a new year with better inventory levels.
The annual average total residential benchmark price in 2025 sat at $577,493, which is two per cent lower compared to 2024’s annual average.
You can view CREB’s December 2025 report online.