Calgary home prices are falling as housing market cools into 2026

The Calgary Real Estate Board's December 2025 report shows average residential prices fell 4.7% to $554,700 year-over-year, while new listings rose about 9% and inventory increased roughly 28.9% with months of supply at 3.43 months.

The Calgary Real Estate Board released its December 2025 housing report showing price declines across all home types compared with a year earlier. Average residential prices and several home categories fell while new listings and overall inventory increased. CREB described the changes as moving the market toward more balanced conditions for the start of 2026. Key facts: - All major home types recorded year-over-year price declines; the average residential price fell 4.7% to $554,700. - Apartment prices fell 7.4% to $303,600 and row-style homes decreased 5.6% to $421,300; detached and semi-detached homes also showed smaller declines. - New listings rose about 9% year-over-year and overall inventory increased 28.9%, pushing months of supply up to 3.43 months (a 50.9% increase). - CREB Chief Economist AnnMarie Lurie said supply growth—especially for apartment condominiums and row homes—was higher than expected and weighed on prices; no next procedural steps were reported. Summary: The report indicates that price declines and higher listings have shifted Calgary's housing market toward more balanced conditions as 2026 begins. Undetermined at this time.