The December 2025 Calgary real estate market closed the year in a balanced, normalization phase, according to the latest data released by the Calgary Real Estate Board (CREB®).

December is traditionally one of the quietest months of the year for real estate activity, and the numbers reflect a seasonal slowdown but not a market breakdown. Instead, the data points to a market that has cooled from recent highs and is now operating on fundamentals: pricing, inventory, and strategy.

At Itani Estates, we focus on explaining what the numbers actually mean, not just listing them.

December 2025 Calgary Market Snapshot (CREB)

Based on CREB’s City of Calgary Housing Statistics – December 2025:

• Benchmark Price: $554,700
  (↓ 4.7% year-over-year)

• Sales: 1,126 residential sales
  (↓ 14.6% year-over-year)

• New Listings: 1,219 new listings
  (↓ 1.5% year-over-year)

• Active Inventory: 3,860 homes available
  (↑ 28.9% year-over-year)

• Months of Supply: 3.43 months
  (↑ 50.9% year-over-year)

• Average Days on Market: 53 days
  (↑ 22.4% year-over-year)

These figures confirm that Calgary ended 2025 in balanced market territory, with neither buyers nor sellers holding overwhelming control.

What December’s Numbers Tell Us

Sales: Seasonal, Not Structural

A total of 1,126 sales in December reflects a typical year-end slowdown. Holidays, winter conditions, and buyer hesitation naturally reduce activity during this period.

Importantly, sales did not collapse they adjusted in line with historical December patterns.

Inventory: More Choice for Buyers

Active inventory rose to 3,860 listings, nearly 29% higher than last year. This increase explains why buyers are seeing:

• Fewer bidding wars

• More negotiating room

• Longer decision timelines

However, inventory levels remain well below oversupply territory.

Months of Supply: Balanced Conditions

At 3.43 months of supply, Calgary remains firmly balanced. Markets typically need 5+ months of supply before significant downward price pressure develops.

This level supports price stability while allowing buyers more flexibility.

Pricing: A Controlled Adjustment

The benchmark price of $554,700, down 4.7% year-over-year, represents a measured correction, not a crash.

This adjustment follows several years of rapid appreciation and reflects:

• Higher interest rates

• Increased inventory

• A shift from urgency to selectivity

Historically, this type of price movement is consistent with a healthy market reset.

Days on Market: Strategy Matters Again

With homes now averaging 53 days on market, pricing and presentation have become critical.

In December:

• Well-priced, well-marketed homes still sold

• Overpriced listings stalled quickly

• Buyers showed less urgency and more discernment

This shift rewards sellers who align with current market realities.

What This Means for Buyers

For buyers heading into early 2026, December’s data shows:

• More leverage than in previous years

• Greater selection across most price ranges

• Less competition and fewer multiple-offer scenarios

Balanced winter markets have historically been strong entry points for buyers who are prepared and patient.

What This Means for Sellers

For sellers, December reinforced several key lessons:

• Pricing accurately matters more than timing

• Presentation and marketing are essential

• Overpricing is penalized quickly in lower-volume months

• Realistic sellers still achieved successful outcomes

Detached and family-oriented properties continue to outperform higher-density segments when positioned correctly.

Looking Ahead to 2026

December 2025 data suggests Calgary is entering 2026 with:

• Stable but selective buyer demand

• Inventory levels that support negotiation without destabilizing prices

• A market driven by information rather than emotion

Historically, markets that finish the year in balanced conditions often see renewed activity in spring, particularly if interest rates remain stable.