In line with typical seasonal trends, sales, new listings and inventory levels all slowed relative to last month. The 1,553 sales were met with 2,251 new listings, causing the sales-to-new-listings levels ratio to improve to 69 per cent. This also helped support some of the inventory adjustment. However, with 5,581 units in inventory, levels are still 28 per cent higher than last year and over 15 per cent higher than typical levels reported in November. 

“Supply levels have been sitting higher than typical levels for the past three months, mostly due to the gains occurring in the higher-density sectors of row and apartment style units,” said Ann-Marie Lurie, CREB®’s Chief Economist. “This is partially related to the additional supply choice coming from the new homes sector, some of which end up on the resale market, especially near the end of the year. While buyer’s market conditions are more prevalent for apartment-style homes and to a lesser extent row homes, outside of a few pockets of the market, both the detached and semi-detached markets are relatively balanced.”   

The additional supply choice across resale, new and rental markets, is having the most impact on apartment and row style home prices which are reporting year-over-year price declines of seven and six per cent. In comparison detached home prices are down by two per cent compared to last November, but still higher than last year when looking at year-to-date figures. Overall, the unadjusted total combined residential benchmark* price in November was $559,000, nearly five per cent lower than last year. 

*To keep the benchmark price relevant, once a year the attributes of a benchmark home are reviewed and the benchmark prices are updated. The review has been completed and the data has been updated.  While all historical adjustments have occurred, old PDF monthly reports are not adjusted. 

Detached

Detached sales in November were 823 units, just slightly lower than last year’s level, and relatively consistent with activity reported for November. The monthly reduction in new listings helped push down inventory levels compared to last month, but inventory remained well above the lower levels reported last year and are now relatively consistent with long-term trends. Overall, the months of supply remained around three months, reflecting a relatively balanced condition. Despite this we did see unadjusted prices trend down over last month, mostly reflecting seasonal patterns. As of November, the unadjusted detached benchmark price was $733,000, down by nearly two per cent compared to last November. However, when considering the year-to-date figures, prices are still one per cent higher than last year. Most of the downward price adjustments have occurred in the North East, North and East districts as competition from new homes and additional supply choice in other parts of the city are more heavily weighing on those districts.   

Semi-Detached

Sales in November were comparable to levels reported last year and still well above long-term trends, but with new listings also higher than typical levels for this time of year, inventories rose to the highest November level seen over the past five years. While conditions have been generally tighter for this property type, over the past three months we have seen the months of supply remain above three months, resulting in more balanced conditions. While the unadjusted benchmark price of $671,700 did ease over last month, it remained stable compared to last year. Year-to-date price growth has been the strongest in this sector at nearly three per cent, with the largest gains occurring in the City Centre at four per cent, partially offsetting the one per cent pullback in the North district. 

Row

November sales eased to 257, however, last year was a record high for the month and current sales remain above long-term trends. Where there continues to be more notable shifts is in supply. New listings remained comparable to last year and inventories, while reporting the typical seasonal decline, were at November levels not seen since 2018. The additional supply has caused the months of supply to remain slightly elevated, especially over the past three months. This has been placing some downward pressure on prices. In November, the unadjusted benchmark price was $424,400, down over last month and over six per cent lower than last year. While some of the monthly decline is seasonal, more persistent price declines have caused the year-to-date price to fall by nearly two per cent. 

Apartment Condominium

This sector has struggled the most with excess supply. November sales dropped to levels consistent with long-term trends, but new listings remained elevated and November inventory levels hit a record high for the month. The months of supply edged near six months and has been sitting above four months since the summer. This has resulted in relatively persistent price adjustments throughout the second half of the year and as of November the unadjusted benchmark price was $309,300, seven per cent lower than last year at this time. Year-to-date the decline was just over two per cent, with the largest decline occurring in the North East district at nearly five per cent. The only district to see prices remain flat was the West district.

REGIONAL MARKET FACTS

Airdrie

As per typical seasonal behaviour, sales, new listings and inventory levels all eased over levels reported last month. Overall, both sales and new listings have remained at levels consistent with long-term trends for the month, but thanks to earlier gains inventory levels remain elevated for November. Some of the rise is due to a higher share of newer homes coming onto the resale market. The additional supply over the past several months has weighed on prices in Airdrie. While it has by no means offset the gains reported over the past four years, year-to-date benchmark prices for detached homes are down by nearly one per cent compared to last year. 

Cochrane

The seasonal monthly pullback in new listings was not enough to prevent November levels from reaching a record high. While sales also remained relatively strong for November, it was not high enough to cause a more significant monthly pullback in inventories, which have not been this high in November since 2018. Some of the gains in new listings were due to a larger share of new homes being listed on the resale market. While recent gains in supply have caused some adjustments in price, prices continue to remain higher than levels reported last year. Year-to-date detached benchmark prices are nearly two per cent higher than levels reported last year.

Okotoks

Unlike other areas, sales in Okotoks improved compared to last month and were similar to levels reported last year. This in part could be related to the higher level of new listings that were available both in November and October, providing more choice to potential buyers. The Okotoks market has seen some recent gains in inventory levels, but overall supply remains well below long-term trends. Conditions have remained relatively tight in the Okotoks market and, despite some recent adjustments in prices, overall prices are still higher than last year on a year-to-date basis across each property type.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

REMAX brokers and agents share an overview of national housing market activity in 2025 and their outlook for the year ahead.

The Canadian housing market could be on the upswing looking ahead to 2026, with more buyers preparing to enter the market and home sales expected to increase by 3.4 per cent next year. This follows signs of renewed buyer intent earlier this fall, compared to the first half of the year.

2025 Year in review

• Listings rose across 75.8% of regions in 2025

• More price moderation expected in 2026

• The boost in listings was widespread in Southern Ontario

• Home sales fell YoY in 19 of 33 markets

“Amid looming economic clouds, Canadians are maintaining their interest in homeownership,” says Don Kottick, President, REMAX Canada. “The resilience that began to emerge in the fall is anticipated to continue into 2026, with first-time buyers in particular finding creative ways to save and enter the market.”

Remote Work and Homeownership

• Following looming economic headwinds, an emerging concern among first-time homebuyers is a rise in return-to-office mandates. 

• 17% of Canadians are concerned about 'return to office' mandates

• Respondents aged 18 to 34 and those planning to buy in the future are thinking more about how this might affect their search 

• Nearly half of respondents overall do not believe return-to-office will impact their situation

First-Time Buyers Gain Confidence as Rates Decline

According to a Leger survey commissioned by REMAX Canada, 10 per cent of Canadians say they’re planning to purchase a home in the next 12 months – an improvement from seven per cent in the fall, based on Leger survey data earlier this year. Although more than half of Canadians are feeling the economy will worsen in 2026, following an initial economic stall as seen in the earlier part of 2025, Canadians aged 18 to 35 are more hopeful, with 21 percent feeling the economy will fare better next year.

A Shifting Buyer Profile

REMAX brokers and agents across Canada found that families, new Canadians, and retirees drove a larger share of sales in 2025, marking a significant shift from 2024, when first-time buyers led sales across most Canadian markets.

While 17 percent of Canadians say they plan to purchase a home at some point (with 10 percent intending to buy within one year). Brokers are hearing that many buyers continue to watch the market closely for the right moment to make their move. Those planning to purchase their first home are more likely to be aged 18 to 34 and with kids under age 18.

Calgary Housing Market Outlook (2026)

The average residential sale price in Calgary has increased by 3.5 percent across all property types between 2024 and 2025 from $621,015 to $642,840. The number of sales transactions decreased by 15.8 percent for the same time period (from 23,864 to 20,082). The total number of listings decreased by 19.2 percent (from 33,728 in 2024 to 27,243 in 2025). Average residential sale prices will remain steady going into 2026, compared to 2025. Sales are anticipated to remain the same going into 2026, compared to 2025.

Trends in the Calgary Housing Market

Looking ahead to 2026, Calgary will continue to be a buyers/balanced market. The top three neighbourhoods anticipated to be the most desirable in the region in 2026 are Springbank Hill, Discovery Ridge and Rocky Ridge as the West side of Calgary tends to appreciate at a higher rate than all others, holding value through instability. Single-detached homes are expected to see the strongest demand and sales activity in the region in 2026. 

• Buying/Selling Trends for homebuyers and sellers: 

• First-time Homebuyers are looking in suburban areas and buying single-family homes around $800,000.  

• Move Up/Over Homebuyers are buying larger properties between $800,000 and $1,300,000.  

• Retirees are buying smaller homes like bungalows or semi-attached properties between $800,000 and $1,300,000.  

• New-home construction activity is comprised of condominiums which will increase affordability in the region, and homes farther out from the core create more affordable options. Construction is proceeding as planned.  

Calgary is seeing increased inter-provincial migration from British Columbia and Ontario due to affordability challenges and economic concerns. The rental market is saturated and first-time buyers are able to hold their position to ensure affordability prior to entering the housing market. With a larger rental market, investors aren't particularly active in the region. Long-term, Calgary is well insulated from the rest of the country, particularly British Columbia and Ontario. While the pace has slowed, the market remains very active. Growing inventory and consumer confidence increase as buyers get comfortable with economic uncertainties, with sales remaining strong, but less than we've seen from 2021 through 2024.

Courtesy REMAX LLC

Selling your home during the holiday season may seem daunting and can sometimes be a little bit trickier, but it doesn’t have to be! While the market naturally cools down with the weather, this can provide a unique opportunity for those braving the property market this winter.

With a combined experience of 50+ years in the industry here at Viani Real Estate Group, we have seen many benefits to selling a home during the colder months. First, we’ve found that buyers looking at homes during these months are more serious. This can largely be due to major life changes, such as moving for a job opportunity or to be closer to family. As such, they are typically highly motivated and well prepared. Coincidentally, sellers tend to be few and far between, thus creating less competition. Combined, this could lead to the right conditions which increase the likelihood of selling your home! 

On the other hand, reduced real estate inventory can often lead to a lack of rush. While this may sound like a disadvantage, it can sometimes be quite the contrary. What we mean is, sellers don't face the same brutal competition, as mentioned above, as they usually would during the warmer months. Due to this, they have more time to make decisions, such as determining the best sale price or what they would like the contract conditions to be before listing their property. This can allow sellers to seize the opportunity to think about what they truly want from the sale of their home and how to achieve that goal. The team at Viani Real Estate Group would love to guide you through this process. 

Right now, our team is seeing a shortfall in available homes for sale; however, motivated buyers know what they want and refuse to settle for less. You may be wondering how you can boost your curb appeal to stay ahead of the real estate game and appeal to the right buyer. There are various ways to elevate your property and maximize its value. We suggest the following:

1. Get into the holiday spirit and decorate! While it isn’t recommended to overpower the space, a simple wreath on the front gate and door and a string of warm lights does wonders in helping a buyer visualize living in your home. 

2. Keep your property well-lit! As we go into winter, days shorten and get darker more quickly. Ensure your property can be viewed in ample lighting and that your ‘For Sale’ sign is well-lit. 

3. Maintain your driveway and walkways! Shovel after every snowfall to ensure a safe walk through your property for potential buyers. 

4. Make your home winter-ready! This could mean keeping the fireplace lit for warmth, redesigning your mudroom to make it more functional, clearing gutters, or sealing gaps in windows. Trust us, buyers will notice whether your property is an ill-equipped house or a cozy home prepared for winter.  

Get ahead of the 2026 Spring rush and sell your home with us today!

Calgary, Alberta, Nov. 3, 2025 – Inventory levels eased over last month thanks to the combined impact of a monthly pullback in new listings and a monthly pick up in sales. With 6,471 units in inventory and 1,885 sales the October months of supply returned to three-and-a-half months after pushing up to four months in September. While both row- and apartment-style properties continue to report elevated supply levels compared to demand, conditions remain relatively balanced for both detached and semi-detached properties. 

Year-to-date sales in the city totaled 20,082, down nearly 16 percent compared to last year, but still in line with longer-term trends. Much of the decline in sales has been driven by pullbacks for apartment- and row-style homes.   

“Improved rental supply and easing rents have slowed ownership demand for apartment- and row-style homes. It is also these segments of the market that have seen October inventories reach a record high for the month,” said Ann-Marie Lurie, CREB®’s Chief Economist. “Excess supply for apartment- and row-style properties is weighing on prices in those segments more so than any other property type, influencing total residential prices.” 

As of October, the total unadjusted residential benchmark price in Calgary was $568,000, down nearly one per cent compared to last month and over four per cent lower than last year’s levels. The largest price adjustments occurred for row- and apartment-style properties where prices have eased by a respective six and seven per cent compared to last October. 

Detached

October sales reached 1,012 units, an improvement over last month, but still five per cent lower than last year’s levels. At the same time there were 1,593 new listings that came onto the market, causing the sales-to-new-listings ratio to rise to 64 per cent and inventories to trend down over last month to 2,913. Inventory levels remain slightly higher than long-term trends for the month, but with just under three months of supply, conditions remain relatively balanced and far better than conditions reported during the 2015 to 2019 period.

Despite relatively balanced conditions, there are pockets of the market that are experiencing buyer’s market conditions, which is impacting prices. Citywide detached benchmark prices eased to $744,400 in October, one per cent lower than last year. However, price adjustments ranged from a year-over-year gain of nearly two per cent in the City Centre to a decline of over five per cent in the North East district. Despite recent adjustments, year-to-date prices remain over one per cent higher than last year.  

Semi-Detached

Sales improved over last month while new listings slowed, causing the sales-to-new-listing ratio to rise to 57 per cent, which is slightly lower than typical levels for this time of year, but high enough to prevent any significant change in inventory levels compared to last month. With 186 sales and 613 units in inventory, the months of supply was over three months, higher than last year’s extremely low levels, but lower than last month.

More inventory choice has weighed on prices over the past several months. However, with an October benchmark price of $683,100, prices remain nearly one per cent higher than last year and on a year-to-date basis are over three per cent higher than last year. 

Row

With 275 sales in October, year-to-date row sales totaled 3,412 units, a 17 per cent decline over last year. While row sales remain well above long-term trends, new listings have been on the rise and reached record highs so far this year. As of October, there were 1,054 units in inventory, the highest ever reported for the month and nearly 32 per cent higher than long-term averages. This also caused the months of supply to remain around four months.

The additional supply choice has weighed on prices. The October benchmark price was $431,200, over one per cent lower than last month and nearly six per cent lower than prices reported last year at this time. The steady slide in row prices have caused year-to-date prices to drop by one-and-a-half per cent. Price adjustments did vary across the city with the largest year-to-date declines occurring in the North East and North districts. 

Apartment Condominium

The pullback in new listings relative to sales this month did help prevent further gains in inventory levels. However, with 1,891 units in inventory and 412 sales, the months of supply remained elevated at nearly five months. Apartment condominiums have been experiencing buyer’s market conditions for nearly 6 months, placing downward pressure on prices. As of October, the benchmark price was $318,200, down over one per cent compared to last month, and nearly seven per cent lower than last October.

On a year-to-date basis, prices are nearly two per cent lower than last year’s levels. The largest year-to-date price declines occurred in the North East and South East districts at four per cent, as those districts are either reporting the highest months of supply on the resale market or are facing significant competition from the new home market.

REGIONAL MARKET FACTS

Airdrie

Activity slowed as we moved into October. While sales have remained consistent with longer-term trends, new listings reached a record high for October, keeping inventories elevated. With 535 units in inventory and 136 sales, the months of supply remained over four months. The persistently higher months of supply over the past four months, combined with additional supply choice in the new home market, has weighed on resale home prices. Prices in Airdrie have been trending down since April of this year and as of October the benchmark price was $520,400, nearly one per cent lower than last month and nearly five per cent lower than last year’s levels. 

Cochrane

Sales in Cochrane improved this month, keeping year-to-date sales at levels that are relatively consistent with last year. At the same time, while levels remained high, new listings did trend down over last month, causing the sales-to-new-listings ratio to rise to 55 per cent and preventing any further gains in inventory levels. The months of supply eased to just over four months in October, higher than the low levels reported over the past several years, but relatively more consistent with long-term trends for the month. As of October, the benchmark price was $585,200, similar to last month and over two per cent higher than last year. Year-to-date prices in the area have risen by nearly four per cent. Some of the gain in prices could be related to a larger share of new homes ending up being sold on the resale market in Cochrane. 

Okotoks

October reported 91 new listings on the market, a significant gain over last month and last year’s levels. The rise in new listings was met with slower sales activity, causing the sales-to-new-listings ratio to dip below 50 per cent, supporting a modest gain in inventory levels. While inventory levels are finally improving, they remain low relative to longer-term trends. This has likely prevented a more significant shift in prices in the Okotoks area. In October, the unadjusted benchmark price was $618,600, up over last month but consistent with last October. Year-to-date benchmark prices have improved by over one per cent. 

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

Courtesy Calgary Real Estate Board

The trees are changing colours, the leaves are falling, and the scent of pumpkin spice fills the air. Sadly, everyone’s favourite season is coming to an end — and believe it or not, winter is on its way. Once November hits, it’s the perfect time to start tackling your fall home maintenance checklist. Making sure your home’s cold-weather systems are running efficiently can save you both money and major headaches in the long run.

Drain the Hose

Watering season is over, but you’re not done with your outdoor watering system quite yet. To avoid cracked hoses and burst faucets over the winter, turn off water valves in your home and drain all remaining water from the taps and hoses. Tip: Unrolling the hose down a gentle slope will let the water run out completely.

Clear Vents

To prevent ice dams — ridges of roof ice that prevent melting snow from draining — ensure attic vents are free of debris. Poor soffit ventilation can increase mold inside the house and damage wood shingles during the winter months. Tip: A leaf blower or a pass with a pressure washer will clear them out and prep them for winter snow.

Clean the Chimney

Ahhh, there’s nothing quite like the warming atmosphere of a wood-burning fireplace in the dead of winter. But once you’ve cozied up to your 70th fire, get that chimney inspected and cleaned of excess creosote, because it may cause chimney fires. Tip: Run the point of a fire poker inside the chimney liner and if there’s more than three millimetres of gunk, call a certified chimney sweep.

Store Pots & Planters

If you decide to keep your collection of colourful clay pots outside for winter, make sure you empty the soil before you do. The moisture in the earth will expand when frozen, which can crack those precious ceramic containers. Tip: Removing the soil now will make it easier to reposition and replant the pots come springtime.

Mind in the Gutter

Backed up gutters can cause all sorts of wintertime hassles such as roof leaks, ice dams and wall-focused water damage. Before the snow comes, get your gutters cleared out by a professional — leave ladders to the insured experts. Tip: Make sure all downspout extensions run at least 1.5 metres away from your home’s foundations.

Caulked & Ready

A thin line of silicone caulking is one of the best ways to seal gaps in siding, windows and door frames. If you can see a gap that’s bigger than the width of a nickel, you need to get on it, to stop drafts and water damage in their tracks. Tip: Pick up some weather stripping for doors as well — you shouldn’t be able to see daylight from inside your home.

Inspect the Roof

Pull out a pair of binoculars and give your roof a careful once-over. Keep your eyes peeled for damage or missing or loose shingles. Hire a handyman for patching jobs, or a roofing company for larger sections in need of some TLC before winter comes. Tip: Take time to investigate the flashing around chimneys and vent stacks, too.

A/C Prep

While it may be tempting to wrap your entire external air-conditioning unit in miles of plastic wrap, resist the urge. Doing this can cause corrosion and is an inviting spot for nesting rodents. Instead, place a piece of made-to-measure plywood over the unit during winter and protect it from large, falling icicles and snowdrifts.

Heating Up

Don’t wait until the thermometer dips below zero to think about your home’s heating system; prep now and be ready. A technician can inspect, test and clean your furnace or heat pump to ensure they’re in tip-top shape for winter. Tip: Ask for a carbon monoxide measurement at the same time as the inspection.

Flip It and Reverse It

If your home is kitted out with ceiling fans, check the settings for a reverse option. Running fans in the opposite direction creates an updraft, pushing down heated air, which can help reduce your energy bill. Tip: If you have high ceilings, consider switching out the fan units for ones that have this setting.

Before the temperature drops too much, make sure your home is ready to handle the cold, wet winter months. A little prep work and elbow grease now will go a long way to help your home weather the coming storms, literally.

Courtesy REMAX LLC

The Bank of Canada has lowered its target for the overnight rate by 25 basis points to 2.25%, marking its second consecutive rate cut this year. This decision comes amid continued economic uncertainty, influenced by US  trade policy and a softening labour market, as the Bank seeks to support growth while maintaining price stability.

In its statement, the Bank noted that “Canada’s economy contracted by 1.6% in the second quarter, reflecting a drop in exports and weak business investment amid heightened uncertainty. Meanwhile, household spending grew at a healthy pace.” The Bank also expects growth to receive support from rising consumer and government spending and residential investment, before picking up gradually as exports and business investment begin to recover.

This latest rate cut may help stabilize housing demand and market confidence through the remainder of 2025, but the Bank emphasized a cautious outlook as  Canada faces a period of economic transition.

Bank of Canada’s 2025 Policy Interest Rate Announcement Schedule

Bank of Canada announces its decision for the overnight rate target eight times a year, typically on a Wednesday. The schedule for 2025 is as follows:

• Wednesday, January 29

• Wednesday, March 12

• Wednesday, April 16

• Wednesday, June 4

• Wednesday, July 30

• Wednesday, September 17

• Wednesday, October 29

• Wednesday, December 10

Read the full interest rate announcement below:

The Bank of Canada today reduced its target for the overnight rate by 25 basis points to 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%.

With the effects of US trade actions on economic growth and inflation somewhat clearer, the Bank has returned to its usual practice of providing a projection for the global and Canadian economies in this Monetary Policy Report (MPR). Because US trade policy remains unpredictable and uncertainty is still higher than normal, this projection is subject to a wider-than-usual range of risks.

Whether you’re buying, selling, or investing, knowing where the hottest real estate markets are is critical to making smart decisions. Market conditions are shifting in 2025, with traditional locales like Toronto and Vancouver priced out of reach for many homebuyers and showing lower returns for investors. Meanwhile, emerging markets in unexpected places are becoming more attractive to buyers.

What Makes a Real Estate Market Hot?

Before discussing the hottest real estate markets in Canada, it’s important to ask what makes a real estate market hot. Key indicators are:

• Low housing supply compared to demand.

• Multiple-offer situations and bidding wars.

• Quick selling times.

• Rising home values.

The hottest real estate markets aren’t necessarily the most expensive ones; they’re locations where demand is high and sales are strong. Today’s hot markets are driven by numerous factors, including:

• Population migration to more affordable areas.

• Remote work flexibility.

• Economic diversification, such as growing tech industries and government investment in infrastructure and services.

• Demographic changes such as aging Baby Boomers moving to smaller homes, and younger families immigrating to Canada.

• Investor behaviour based on localized opportunities.

These causal factors help to explain why markets vary across the country and even within a particular region. For example, the hottest real estate markets in Ontario might be driven by population growth and tech sector opportunities. In contrast, the hottest real estate market in BC might depend more on international investment and lifestyle factors.

The Prairies  

If you’re looking for the single hottest real estate market in Canada, you might find it in the Prairie provinces.

Saskatchewan

Saskatchewan may not instantly spring to mind when you’re considering where to buy, but you might want to take a closer look. With the South Saskatchewan River flowing through its centre, Saskatoon offers fantastic outdoor spaces right alongside a bustling research community and resource-based industries. Home prices in Saskatoon have risen 8.2% year-over-year as of August 2025. Regina continues to be affordable, but with growing demand and limited inventory, prices are expected to rise steadily. With its strengths in mining and agriculture, Regina has the long-term economic stability to support home values going forward.

Alberta

Although Calgary’s housing market is returning to a balanced state, Edmonton remains one of the hottest real estate markets in the prairie provinces, with detached homes seeing a 5.3% annual price increase in August 2025. Edmonton’s affordability, strong job growth in energy and technology, and high quality of life continue to attract new residents.

Manitoba

Manitoba frequently gets overlooked by house hunters and investors, but it deserves serious consideration. Its strong agricultural base and manufacturing centre complement its central location to make it appealing for people who value stability.

Home values in Winnipeg saw an 8.1% increase year-over-year in August 2025, making it one of the hottest real estate markets in the region. Winnipeg is a great choice for home buyers who want excellent food and entertainment options as well as amazing outdoor adventure opportunities.

Atlantic Canada

Some of the hottest real estate markets in Canada are on the East Coast, but the best investments have shifted a bit in recent years. While Nova Scotia remains attractive, markets have cooled somewhat, and the spotlight is now on Newfoundland and New Brunswick.

Newfoundland and Labrador currently lead the country in annual increases in home prices, with a 12.3% year-over-year increase as of August 2025. St. John’s is attracting new and returning residents with its laid-back lifestyle, abundant fresh seafood, and easy access to European and US destinations.

New Brunswick also boasts some of the hottest real estate markets in Canada. In August 2025, Fredericton saw a 6.2% increase in home prices from August 2024, while the average sale price for homes in Saint John rose 10.5% over the same period.

Quebec

When looking for the hottest real estate markets in Canada, take a closer look at Quebec. You may not be considering it due to the higher income taxes, and if you don’t speak French, you may be intimidated by having to learn it. However, Quebec residents will tell you that you get excellent value for your tax dollar there, and that there are many communities where you can live and work without speaking French at all.

Quebec City, with all of its charm and culture, is not just a great tourist destination! It’s experiencing robust demand for real estate, with single-family homes rising 7% in value over the past year. Homes in Montreal recently reached an all-time high, with prices having increased 8.9% from August 2024 to August 2025.

Lower overall home prices, lower cost of living and very high quality of life have made Quebec one of the hottest real estate markets in Canada.

Ontario

Although many home buyers balk at the high home prices in Toronto, Ontario still has affordable options and great opportunities for real estate investors.

Peterborough and the Kawarthas

With its sparkling lakes and abundant forests, the Peterborough/Kawarthas area is still close enough to both Toronto and Ottawa for times when you need big-city attractions. Entry points for real estate are still reasonable, and home prices have increased about 3% over the past year. Investors can take advantage of the robust vacation rental market and the student rental market in Peterborough.

Rideau Lakes

This area features an impressive system of connected lakes and waterways that are perfect for boating enthusiasts and hikers. Low entry points and steadily rising home prices make it a great option for house-hunters and investors alike.

Northern Ontario

Look to Thunder Bay for one of the hottest real estate markets in Ontario. Homes in Thunder Bay are being snapped up quickly, with a huge increase in total sales being fueled by a growing number of homes on the market as well as rising prices.

To find the hottest real estate markets in Canada right now, look outside the traditional hotspots in Ontario and British Columbia. Markets are balanced in many areas, while prices are actually decreasing in others. Time purchases and sales strategically to get the best value and return on your investment. Work with an experienced real estate agent for the smartest, most up-to-date insights on what’s going on in Canada’s vast and varied real estate landscape.

Courtesy REMAX LLC

The 1,720 sales in September were not high enough to offset the 3,782 new listings coming onto the market, driving further inventory gains as we move into the fall. There were 6,916 units in inventory in September, 36 per cent higher than last year and over 17 per cent higher than levels traditionally reported in September. Both row and apartment-style homes have reported the largest boost in supply compared to long-term trends. 

“Supply levels have been rising in the resale, new home and rental markets. The additional supply choice is coming at a time when demand is slowing, mostly due to slower population growth and persistent uncertainty. Resale markets have more competition from new homes and additional supply in the rental market, reducing the sense of urgency amongst potential purchasers. Ultimately, the additional supply choice is weighing on home prices,” said Ann-Marie Lurie, CREB® Chief Economist. 

Supply levels relative to demand typically drive shifts in home prices. In September, the sales to new listings ratio dipped to 45 per cent, and the months of supply pushed up to four months for the first time since early 2020. This is a higher level of supply compared to demand than is typically seen in the Calgary market and, should this persist, we could see a market that shifts more in favour of the buyer. However, conditions do vary by property type, price range and location. 

Inventory gains for apartment style homes over the past several months have contributed to buyer market conditions in this segment, driving year-over-year price adjustments of over six per cent for a total benchmark price of $322,900 in September. While the detached segment has also seen a rise in the months of supply, it has not been as high as the apartment condo sector. At a benchmark price of $749,900, detached home prices are only one per cent lower than last year, with most of the adjustments driven by the North East and North districts.

Detached

Sales in September slowed to 859 units, nine per cent lower than last year and below long-term trends for September. At the same time, new listings rose to 1,905 units, causing the sales to new listings ratio to fall to 45 per cent, levels not seen since 2018. While there has been an unexpected shift in September, it is too early to tell if this trend will continue as prior to this month the detached market has remained relatively balanced. 

Improved supply choice is causing prices to decline relative to the record highs reported during the spring. As of September, the unadjusted benchmark price was $749,900, down nearly one per cent from both last month and last year. While prices have eased from peak levels across all districts, the largest decline occurred in the North East and East district at over six per cent. Despite recent adjustments on a year-to date basis, prices remain nearly two per cent higher than last year’s levels, with the City Centre reporting the highest gain at over four per cent. 

Semi-Detached

New listings rose to 361 units in September, while sales fell to 156 units, causing the sales to new listings ratio to drop to 43 per cent. This also caused a rise in inventory levels and the months of supply pushed up to nearly four months. This is a significant shift compared to last month, where there was less than three months of supply. 

Like the detached sector, it is too early to say if this trend will continue, but so far it has had minimal impact on home prices. As of September, semi-detached price was $684,800, slightly lower than last month and nearly one per cent higher than last year. Year-to-date price growth has been the highest for semi-detached homes at over three per cent, as this segment took longer to shift from a seller's market to one that was more balanced. Most of the price growth was driven by gains reported in the City Centre. 

Row

Following a pullback last month, new listings posted modest monthly gains. The 592 new listings were met with 304 sales, causing the sales to new listings ratio to fall to 51 per cent. This is not as low as the other property types and at these levels it was enough to prevent any further monthly gain in the already elevated inventory levels. September inventory levels were 1,099 units, the highest September level reported since 2018, and 30 per cent higher than longer-term trends for the month. The largest gains in inventory occurred in the North East district, which also reported the highest months of supply and price decline compared to last year. 

More supply choice has impacted resale prices, with the unadjusted benchmark price being $437,100. This is down less than one per cent over last month and nearly five per cent lower than last year’s prices. Year-to-date price adjustments have been much smaller at one per cent, as declines in the North East, North and South East districts offset the gains reported in other parts of the city. 

Apartment Condominium

The most significant adjustment in the market occurred in the apartment condominium sector as improving rental supply, delayed adjustments in interest rates and improved selection for other property types has slowed apartment style demand from both first-time buyers and investors. September reported 401 sales and 924 new listings, dropping the sales to new listings ratio to 43 per cent and causing inventory to rise to 1,999 units. 

The rise in supply caused the months of supply to push up to five months, the first time it has done that since 2021. As elevated levels of supply have persisted since June, prices have been trending down. As of September, the benchmark price was $322,900, down over one per cent compared to last month and over six per cent compared to last year. The year-to-date price adjustment has been just over one per cent. Condo prices have slid across all districts compared to last September. The largest decline occurred in the North East district at over ten per cent, while the smallest decline occurred in the City Centre at five per cent. 

REGIONAL MARKET FACTS

Airdrie

New listings reached a September record high with 295 units. The gains in new listings were met with a pullback in sales causing the sales to new listings ratio to fall to 45 per cent and inventory rose to 571 units. While inventories have been generally trending up throughout this year, this is the first time that the months of supply pushed above four months since 2020. The improved options weighed on home prices, which continued to trend down this month. In September, the unadjusted benchmark price was $526,000, down one per cent compared to last month and nearly five per cent lower than last year's levels. Despite recent adjustments year-to-date prices declined by just over one per cent, not enough to offset last year's annual growth of eight per cent.

Cochrane

New listings in Cochrane also hit a September record high with 148 units. While sales are similar to last year's levels at 62 units, the boost in new listings did cause the sales to new listings ratio to drop to 42 per cent this month. This led to further inventory gains and the months of supply pushed above five months. Improved supply levels also took more pressure off home prices this month. In September, the unadjusted benchmark price was $584,300, down by nearly one per cent compared to last month, but still one per cent higher than last year's levels. Much of the supply adjustment has only recently occurred in the Cochrane market and the year-to-date benchmark price remains nearly four per cent higher than last year.

Okotoks

Okotoks was one of the few larger areas that did not see a lift in new listings in September. The 69 new listings were down compared to levels reported last year, and with 51 sales this month, the sales to new listings ratio remained elevated at 74 per cent. While inventory levels were only slightly higher than last month, the months of supply has remained relatively low at two and a half months. Despite the relatively tight conditions, prices continued to adjust in the market. This in part can be related to the competition from new properties, impacting resale prices. As of September, the total residential benchmark price was $613,900, down by over one per cent compared to last month and nearly three per cent lower than last September. Despite the adjustment, on a year-to-date basis, prices were still one and a half per cent higher than last year. 

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

Like any housing market in Canada, Calgary real estate has navigated extreme changes in recent years due to the pandemic, economy and supply chain issues. While home prices peaked a couple of years ago, interest rates remain high, making buying a home quite expensive. However, Calgary’s liveability, relative affordability compared to other parts of Canada, and diverse economy make it a desirable place to live. If you want to get into the Calgary housing market, here are a few things to consider in the next 10 years.

Inflation and Affordability in Calgary

Inflation is at the forefront of everyone’s minds. It is getting increasingly difficult to afford even the necessities, never mind putting anything extra into savings to buy a house. Additionally, interest rates have skyrocketed, making a house even more out of reach. As a result, the amount of money people can save and borrow to finance their homes is taking a significant hit, which has slowed price growth and made it much harder for first-time homebuyers to qualify for a mortgage.

Calgary real estate statistics reveal that while the city remains more affordable than markets like Toronto or Vancouver, the inflation-driven cost increases are affecting buyers across all price ranges. Continuing high interest rates are making it harder for borrowers to pass the federal government’s mortgage stress test. The stress test requires borrowers to prove they can afford to make payments that are the higher of: a) two per cent above the contract rate, or b) the government benchmark of 5.25 per cent. This, in turn, could lead to changes in the types of homes built in Calgary, with some people turning to group ownership or smaller homes.

Supply and Demand in Calgary Real Estate

When it comes down to the basics, the prices of homes in Calgary and whether they rise or fall essentially comes down to how many are on the market at any given time and how many people want them. The recent rise in prices can be attributed to the high demand during the pandemic and several years of less-than-ideal housing stocks.

Unlike some other Canadian cities, Calgary has the advantage of adding more housing relatively easily because new construction is not restricted by physical or municipal barriers. So, more houses will be built to accommodate the high demand, but it will take a bit of time.

The Calgary area real estate development pipeline shows promising growth in new construction starts, though many projects remain months or years from completion. Developers are increasingly focusing on multi-family dwellings and transit-oriented communities to maximize land use and address housing shortages.

Building Costs and Supply Chain Issues in the Calgary Real Estate Market

As inflation has impacted Calgary residents trying to buy food and gas, rising costs have also affected Calgary and the real estate market. Supply chain issues during the pandemic, combined with high shipping and material costs, have resulted in homes being built for far more money than they used to be.

In addition, homebuyers have been more focused on energy efficiency and environmentally friendly home materials. Although sustainable homes are good to strive for, they come at a price. Homebuyers either must come up with more money to buy a house the same size or use the same amount to buy a smaller home.

H2 The Rise of Tech in Calgary

Calgary has been working for years to attract startups to the city, and its efforts have begun to pay off. They rose six points to number 28 on CBRE’s annual scoring of tech talent, indicating that they are reining in tech companies and workers. As a result, Calgary-based tech companies netted a record $322.2 million in funding.

Technology will also play a role in Calgary’s real estate scene in the coming years. The rise of e-commerce and new concepts like e-scooters have changed how people live in the city, making it more accessible for homebuyers in all areas of Calgary. Since residents are no longer required to live near their workplaces and other frequently visited areas, Calgary is likely to see a shift to previously less popular neighbourhoods, as they are further removed from the city’s central hubs. There could be a more distributed development pattern for Calgary in the coming decade, with innovation hubs potentially emerging across the city rather than concentrated solely downtown.

How Working from Home Has Impacted Calgary Real Estate

Even before the pandemic, Calgary was beginning to face a problem with downtown office vacancies due to a shift in how work is conducted. During the pandemic, it shifted even more, and now many workers opt to keep a work-from-home job rather than find a job in an office. Working from home makes people more open to moving to the suburbs of Calgary or even into rural Alberta. Despite downtown Calgary showing signs of revitalization through strategic office-to-residential conversions and increased transit ridership, the hybrid work model also remains prevalent across many industries.

The flip side is that working from home requires more space in homes for offices, which could increase demand for larger homes in established communities. While some people are taking advantage of remote work to move to rural communities, most people are opting to remain in urban centres like Calgary to retain a sense of community or look to surrounding cities like Airdrie, Cochrane, and Okotoks for cheaper real estate.

Calgary area real estate companies continue to respond to this mixed work environment by creating flexible living spaces that accommodate both remote work needs and reasonable commutes to downtown offices. This has created interesting movement patterns on the Calgary real estate map, with some previously overlooked neighbourhoods gaining popularity due to their balance of space, affordability and accessibility to the gradually revitalizing downtown core.

How is the Calgary Real Estate Market Right Now?

So, how is the real estate market in Calgary at the moment? Real estate in Calgary is experiencing modest but steady growth. Unlike the more volatile markets in Toronto and Vancouver, Calgary offers more affordable housing, with average prices hovering around $616,000. However, Calgary luxury real estate listings continue to attract interest from both domestic and international buyers.

The current Calgary real estate statistics show increased buyer activity compared to previous years, driven largely by interprovincial migration and the city’s strong job market. Neighbourhoods throughout the Calgary area real estate map are experiencing varied growth patterns, with communities near transit lines and employment centres commanding premium prices.

Investors are particularly drawn to the stability of the Calgary real estate market, which has managed to avoid the dramatic swings experienced in other major Canadian cities. With inventory levels remaining relatively tight and demand staying consistent, Calgary’s housing sector presents a balanced environment for both buyers and sellers as we move toward the long-term trends that will shape the next decade.

As Calgary’s real estate market continues to evolve in the next ten years, residents can continue to adapt to changes in how they work and navigate the city. Building new forms of housing can help meet the needs of a diverse population and maintain affordability while adapting to changes in the city’s housing sector.

Courtesy REMAX LLC

The Bank of Canada lowered its overnight rate target to 2.50%, a 25 basis point cut. This marks the first rate reduction from the Bank since March. The move comes amid slowing Canadian and global economic growth and a weaker labour market that has led to rising unemployment. In addition, Canada’s GDP declined in the second quarter due to tariffs and trade uncertainty. However, according to the Bank, consumption and housing activity both grew at a healthy pace.

Despite these challenges, the Bank noted, “With a weaker economy and less upside risk to inflation, Governing Council judged that a reduction in the policy rate was appropriate to better balance the risks. Looking ahead, the disruptive effects of shifts in trade will continue to add costs even as they weigh on economic activity. Governing Council is proceeding carefully, with particular attention to the risks and uncertainties”.

For buyers and sellers, this rate cut could bring renewed momentum into the housing market heading into the fall. Lower borrowing costs may improve buyers’ affordability and encourage more market activity. At the same time, sellers could see an uptick in demand. That said, ongoing global uncertainty and slow economic activity may temper confidence in the coming months.

Bank of Canada’s 2025 Policy Interest Rate Announcement Schedule.

Bank of Canada announces its decision for the overnight rate target eight times a year, typically on a Wednesday. The schedule for 2025 is as follows:

• Wednesday, January 29

• Wednesday, March 12

• Wednesday, April 16

• Wednesday, June 4

• Wednesday, July 30

• Wednesday, September 17

• Wednesday, October 29

• Wednesday, December 10

Read the full interest rate announcement below:

The Bank of Canada today reduced its target for the overnight rate by 25 basis points to 2.5%, with the Bank Rate at 2.75% and the deposit rate at 2.45%.

After remaining resilient to sharply higher US tariffs and ongoing uncertainty, global economic growth is showing signs of slowing. In the United States, business investment has been strong but consumers are cautious and employment gains have slowed. US inflation has picked up in recent months as businesses appear to be passing on some tariff costs to consumer prices. Growth in the euro area has moderated as US tariffs affect trade. China’s economy held up in the first half of the year, but growth appears to be softening as investment weakens.

Improving supply choice has changed the dynamics of the Calgary market driving price declines over the past several months. Higher price adjustments are occurring for apartment and row style properties while detached and semi-detached properties have reported modest declines. As of August, the unadjusted total residential benchmark price was $577,200, down over last month and nearly four per cent lower than levels reported last year.

“Perspective is needed when it comes to price adjustments. The most significant price adjustments are occurring for row and apartment style homes as they are also the product type that are facing the largest gains in supply choice,” said Ann-Marie Lurie, Chief Economist at CREB®. “Meanwhile price adjustments in the detached and semi-detached markets range from modest price growth in some areas to larger price declines in areas with large supply growth. Overall, recent price adjustments have not offset all the gains that have occurred over the past several years.”

August reported 1,989 sales, nearly nine per cent lower than last year. Sales have slowed compared to the high levels reported over the past four years. However, activity is still above long-term trends, reflecting relatively strong demand. What has changed is the supply situation. New listings remain elevated, keeping the sales-to-new-listings ratio below 60 per cent and pushing inventory to 6,661, the highest August amount since 2019. 

More inventory choice coupled with lower sales has caused the months of supply to rise to 3.4 months in August, much higher than the sellers' market conditions reported over the previous four years, but still well below the buyer market conditions observed prior to the pandemic. While the market is much more balanced compared to last year, there is significant variation depending on property type, price range and location.   

Detached

Detached home sales eased to 995 units in August, while new listings rose to 1,748 units, keeping the sales-to-new listings ratio below 60 per cent. This prevented any significant shift in inventory, as the 3,051 units were the highest levels reported in August since 2020. Higher inventory levels and easing supply have helped balance out the detached market. However, districts like the North East, North and East are experiencing buyer market conditions.   

The unadjusted benchmark price in August was $755,600 down by nearly one per cent over last month and last year's levels. While prices have eased there is significant variation depending on location. Compared to last year, prices reported the largest decline in the North East and East district at five per cent, while prices in the city centre were over two per cent higher. As many of the adjustments have occurred over the past few months, year-to-date Calgary prices remain two per cent higher than last year.

Semi-Detached

August sales improved over last year’s levels, but it was not enough to offset earlier pullbacks with year-to-date sales of 1,557—eight per cent lower than last year—but higher than long-term trends. At the same time, new listings slowed compared to sales pushing the sales-to-new listings ratio up to 67 per cent and preventing any further monthly inventory gains. Inventory gains have not been as high for this product type, and the months of supply remained below three months in August. This is one of the reasons that the prices have not seen the same adjustment.

In August the unadjusted benchmark price was $687,200 down over last month, but nearly one per cent higher than last year, and nearly four per cent higher on a year-to-date basis. Price growth has varied across the city, with the largest year-over-year gains occurring in city centre. Meanwhile the largest declines have occurred in the North East, East and North districts.

Row

Sales in August slowed, contributing to the year-to-date decline of nearly 16 per cent. While new listings did ease in August compared to last year and last month, they have generally been on the rise pushing up inventory levels. In August, there were 1,103 units in inventory, reaching the second highest level on record for August, only slightly lower than the record high in reported in 2018. Due to the relatively strong sales, the months of supply has only pushed slightly above three months, far more balanced than last year, but not as high as the 6.4 months report back in 2018.

Nonetheless, additional supply choice has weighed on prices. In August, the unadjusted benchmark price in the city was $439,600, reflecting the fourth consecutive monthly decline and nearly five per cent lower than last August. While prices eased across all districts, price declines exceeded five per cent in the North East, North, South and East districts. These districts generally reported high levels of supply in the resale sector or had significant competition from new home supply.

Apartment Condominium

Sales continue to slow in August contributing to a year-to-date pullback of nearly 30 per cent. While sales are still above long-term trends, they have not been high enough to offset the level of new listings in the market. In August alone there were 877 new listings compared to the 449 sales, keeping the sales-to-new-listings ratio relatively low at 51 per cent. The low ratio that has persisted throughout this year has contributed to the higher inventory levels seen in the market. While August inventory levels did not rise over last month, with 1,979 units available, this is the highest August inventory ever reported.

The months of supply for apartment condos have remained around four months since June. The excess supply relative to demand has been weighing on prices. As of August, the unadjusted benchmark price was $326,500, reflecting the fifth consecutive monthly decline and nearly six per cent lower than levels reported last August. Most of the supply is concentrated in the City Centre, which reported a year-over-year decline of five per cent, slightly higher than the rate of decline reported in the West district at three per cent. Meanwhile, the highest price declines occurred in the North East district at over 11 per cent.

REGIONAL MARKET FACTS

Airdrie

Easing sales in August contributed the year-to-date decline of 12 per cent for 1,248 sales so far this year. The 152 sales this month was met with 265 new listings, pushing the sales-to-new listings ratio up to 57 per cent and preventing any further monthly inventory gains. As of August, there was 535 units in inventory, above long-term trends and the highest levels reported since before the pandemic. The rise in supply has helped shift the market to more balanced conditions. However, with more supply options in both the new home, resale markets and in competing locations, there has been some downward pressure on prices in Airdrie. In August, the unadjusted total residential benchmark price was $531,100, down over last month and four per cent lower than levels reported last August.

 Cochrane

The 70 sales this month were met with 139 new listings causing the sales-to-new listings ratio to fall to 50 per cent, the lowest ratio reported for August since 2015. The pullback in sales compared to new listings prevented any significant shift in inventory levels, pushed the months of supply up above four months. Despite the shift this month, prices in Cochrane remained relatively stable in August, with the unadjusted benchmark price sitting at $589,100, similar to last month and nearly two per cent higher than last year. On a year-to-date basis prices are four per cent higher than the previous year.

 Okotoks

New listings in August reported a significant pullback relative to sales and the sales-to-new-listings ratio pushed up to 80 per cent. While sales have generally remained in line with long-term trends, new listings have not had the same increase that other areas have reported, preventing significant gains in inventory levels. As of August, there was 116 units in inventory, a 29 per cent gain over last year, but still 30 per cent lower than levels traditionally seen in August. Despite tighter conditions, prices have reported some monthly declines. However, year-to-date benchmark prices remained two per cent higher than last year’s levels, with gains reported across each property type.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

The nation’s resale real estate market appears to be recovering from a slowdown in activity that bottomed in the spring amid concerns over a trade war. Still, a new report from RBC Economics noted that Canada’s two largest markets — while seeing an increase in sales in July, year over year — remain weighed down by a lack of affordable supply for first-time buyers. In turn, new listings have grown year over year in Toronto and Vancouver to match rising sales, resulting in a decline in overall prices.

The study found the national picture is modestly brighter, though the large markets still are affecting growth. Resales grew nearly seven percent year over year and almost four percent month over month in July.

New listings grew about six per cent in July from last year, and were flat from June to July.

Prices were also flat month over month, though down about three percent from last year.

Calgary and Edmonton were among the three major markets seeing year-over-year declines in resales, down about nine and two percent respectively. Sales, however, increased about three per cent in Calgary month over month, while they grew almost two per cent in Edmonton. Vancouver was the other market in the study seeing a decline, down about two per cent year over year — though up nearly nine per cent in July from June.

New listings increased about eight per cent in Calgary and 16 per cent in Edmonton in July versus July last year. Month over month, listings grew about one per cent in Calgary, and nearly seven per cent in Edmonton. Despite declining demand in Edmonton, its MLS price index grew more than five percent year over year, though down about one percent month over month.

In Calgary, the price index declined about two percent in July compared with the same period last year, and was flat from June to July.

Courtesy the Calgary Herald