It’s time for our end-of-year newsletter and the annual recap of our family’s adventures. It never ceases to amaze us how much can change in just one year.
McKenzie is officially a lawyer! We celebrated her call to the bar as a family, and she recently started with Beaumont Church LLP. She will be providing services in real estate, corporate law, wills, and estates. McKenzie also got engaged this year to Logan Evans, and they are planning a June wedding—another celebration we’re very excited for!
Cassidy is now Cassidy Layden! She and Thomas were married in September and have officially begun their life together—we danced the night away at their wedding. Cassidy is completing another year with Smith & Griffith Real Estate and continues to grow her business, Cowgirl Suits. At the end of the year, she will be closing this chapter with Smith & Griffith; and joining the Laydens in the trucking industry. Our team will miss having Cassidy in the office and we would like to thank her for being such as asset over the last few years!
Matt returned home to Calgary and has embraced the familiarity of home by becoming a coach at Elev8 Lacrosse—the same program that played a big role in his lacrosse career. Matt has been working for a renovations company and enjoying the diversity of carpentry.
Kirsten completed her first year at Mount Royal University, where she is studying criminal justice and has entered her second year as well as working part-time in the service industry. She also became the proud owner of a kitten named Peanut!
Dawson became a licensed Realtor® and has been working as part of the Smith & Griffith Real Estate Team. Alongside building his real estate career, he continues his role with West Haven Land & Developments Inc., assists with property improvements, helps with farm work at Maine Haven Ranching, and pitches in at Benedict Farms during harvest.
Rees and Kari saw significant shifts in the real estate market this year, giving them the opportunity to focus more heavily on their company, West Haven Land & Developments Inc. Between real estate activity and development projects, travel to Europe and the U.S. were highlights. Kari is now in her fifth year as a director on the Board of the Calgary Stampede, serving as director liaison for the Chuckwagon & Relay and Parade committees. Rees once again volunteered with the Youth Livestock Committee at the Calgary Stampede. This year marked a new chapter for our family as the kids entered the “wedding years.” We've loved celebrating these milestones and welcoming the Layden and Evans families into ours.
As always, we extend our sincere appreciation to our real estate clients who continue to place their trust in us and for friends and family who support us throughout the year. Wishing you all a Merry Christmas and a Happy New Year to you all!
The final quarter of 2025 brought a noticeable shift in Alberta’s real estate market as the region transitioned from the busy summer season into the cooler months. Activity remained healthy overall, but typical seasonal patterns emerged — strong demand in October followed by a softer, more measured November. Conditions across much of the region remain relatively balanced as we head into the winter months.
October produced a clear surge in buyer activity, with sales increasing compared to September and inventory tightening as fewer new listings came to market. In Red Deer, active listings declined from just over 330 in September to just over 300 in October. By November, inventory levels had generally fallen and homes were remaining on the market longer. The slowdown was modest and aligned with seasonal expectations rather than signalling a decline in buyer demand.
In Calgary, November saw a seasonal slowdown in sales, new listings, and inventory compared to October. The month recorded 1553 sales and 2251 new listings. Despite this moderation, Calgary maintained 5,581 units in inventory — 28% higher than last year and over 15% above typical November levels.
Price trends reflect these shifts in supply. Detached home prices were down 2% compared to last November but remain higher on a year-to-date basis. Overall, the unadjusted combined residential benchmark price for November was $559,000, nearly 5% lower than the previous year.
Despite the seasonal cooling, Alberta’s 2025 market remains fundamentally strong. Year-to-date sales continue to climb, demand through the fall has held steady, and balanced conditions across several property types support a stable foundation as the region moves into the winter months.
For Sellers: Low inventory continues to provide an advantage, even with seasonal cooling. Well-priced and well-presented homes are still selling close to list price, and many remain in demand despite the slower pace.
For Buyers: Although the market eased in November, the drop in inventory means selection remains limited. Buyers may find slightly more negotiating room than earlier in the year, but significant price drops were not typical during this period.
Farmland Update & Forecast
The farmland real estate market across Alberta has remained resilient and active through the last quarter of 2025, supported by strong buyer demand, limited available supply, and steady confidence in agricultural land as a long-term asset. While conditions vary by land type and region, the overall trend continues to favour stable to moderate value growth as the year closes out. Farmland values across Alberta continued their upward trajectory through 2024 and into 2025. Mid-year updates from agricultural analysts and lenders indicated that Alberta farmland saw mid-single-digit appreciation during the first half of 2025.
In 2024, cultivated farmland averaged approximately $6,400 per acre, reflecting year-over-year growth of around 7–8%. Early data and on-the-ground activity suggest that the region has maintained that pace into late 2025, particularly for high-quality cultivated land or parcels with good access and improvements. Though year-end numbers are still being finalized, the market has shown no signs of retreat. Buyers continue to compete for listings, and well-situated parcels often command significant interest shortly after coming to market.
Several core factors continue to shape local farmland demand:
1. Limited Supply of Quality Listings: Across Alberta, the number of available parcels remains low. Owners who do not need to sell have generally chosen to hold, contributing to competitive conditions for buyers seeking expansion or investment properties.
2. Strong Demand from Both Farmers and Investors: Established producers are actively expanding their operations, particularly where neighbouring parcels or large contiguous blocks become available. At the same time, farmland continues to be seen as a stable, inflation-resistant investment, drawing interest from non-farming investors as well.
3. Parcel Size and Land Quality Matter: Large, contiguous tracts of high-quality cultivated land attract the strongest bidding. Smaller parcels, or those lacking water access or soil productivity, have a more varied demand profile, with pricing reflecting these differences.
4. Steady Farm Financials Despite Commodity Pressure: Even with some softening in grain and oilseed prices, producers have generally maintained sufficient financial strength to participate in land purchases. Long-term confidence in Alberta agriculture remains high.
Looking ahead, market indicators point toward continued stability. Barring major shifts in interest rates or commodity prices, Alberta farmland values are expected to remain firm into 2026. Demand should stay elevated, particularly for well-located cultivated land, while supply constraints will continue to support pricing.
Owners considering selling may find late 2025 and early 2026 to be favourable conditions.
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The Smith & Griffith Real Estate Team with CIR Realty delivers a unique blend of residential and rural real estate expertise based on the western values of honesty, loyalty and integrity. The result is a top producing team working with you to deliver results.
