Home sales in Calgary, Alberta fell 13.4% in November from a year earlier amid growing signs that the housing market across Canada is softening.
The Calgary Real Estate Board said that home prices in the western Canadian city continue to decrease as the inventory of available homes to buy steadily rises.
The real estate board said that 1,553 homes sold in Calgary during November as the average selling price declined 4.6% year-over-year to $559,000.
There were 2,251 new listings added to the market in November. That helped push the city’s housing inventory up 28.2% to 5,581 homes for sale.
According to the Calgary Real Estate Board, the current inventory of homes for sale is about 15% higher than typical levels for the month of November.
The board added that elevated inventory levels are mostly concentrated in higher-density housing units.
Consequently, prices for apartment and row-style homes saw the biggest year-over-year price decreases in November, declining by 7% and 6%, respectively.
Detached home prices in Calgary were down 2% in November compared with 2024 levels.
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