Canada Housing Market

New data from the Calgary Real Estate Board (CREB) shows that detached home prices have slipped below last year’s levels across every major market in the Calgary region. Communities including Okotoks, Calgary, Airdrie, Chestermere, Cochrane, and High River all posted year-over-year price declines in November 2025.

Detached Home Prices Down Across All Markets

CREB’s November statistics show broad downward pressure on detached home prices, with every community in the region recording a year-over-year decline:

• Okotoks: $676,300 (down 3.9 percent)
• Calgary: $733,000 (down 2.1 percent)
• Airdrie: $610,700 (down 4.3 percent)
• Chestermere: $761,500 (down 5.4 percent)
• Cochrane: $662,800 (down 0.7 percent)
• High River: $559,900 (down 0.3 percent)

These drops mark a notable shift after several years of strong price growth driven by population increases, limited inventory, and elevated demand.

Benchmark Prices Also Show Regional Cooling

The overall benchmark price, which includes all property types, followed a similar trend across most communities. While Cochrane and High River posted modest year-over-year increases, other areas saw clear declines.

In Okotoks, the benchmark price fell to $598,700, down from $618,600 in October. After reaching an all-time high of $633,900 in May, prices declined for four straight months before stabilizing slightly in October.

More Affordable Sales Pull Okotoks Prices Down

Okotoks recorded 51 sales in November, which is 20 percent above the 10-year average for the month. However, 30 of those sales were under $600,000, which pulled the benchmark price lower.

Despite some recent gains, inventory in Okotoks remains the lowest in the region, keeping the market tighter than neighbouring communities. CREB notes that supply levels continue to sit well below long-term trends.

Region-Wide Market Conditions Reflect Shifting Demand

Rising inventory, higher borrowing costs, and seasonality contributed to declining detached-home prices across the Calgary region. While demand remains steady in many areas, the shift toward more affordable properties has weighed on benchmark values.

CREB’s latest report suggests continued moderation in the detached segment as the market heads into winter, with balanced conditions emerging in many communities.