Calgary, Alberta, Jan. 2, 2026 – Following several years of strong price growth, 2025 marked a year of transition thanks to strong demand and limited supply. Due to record high starts, supply levels improved across all aspects of the housing market, just as demand pressure eased due to a reduction in migration levels and heightened uncertainty that persisted throughout the spring market. This helped shift the resale market from one that favoured the seller to one that was more balanced. 

In 2025, sales reached 22,751 units, down 16 per cent over last year, but in-line with long-term trends. Much of the shift came from the growth in supply. 2025 saw over 40,000 new listings come onto the market, nine per cent higher than last year, causing inventories to rise and driving more balanced conditions. 

“Supply levels were expected to rise in 2025. However, the growth was higher than expected especially for apartment condominium and row homes. This weighed on prices in those sectors enough to offset the annual gains reported for both detached and semi-detached homes,” said Ann-Marie Lurie, CREB®’s Chief Economist. "Adjustments in both supply and demand varied across the city, with pockets of the market continuing to experience seller’s market conditions versus some areas where the conditions favoured the buyer. This resulted in different price trends based on location, price range and property type.” 

Overall, the annual average total residential benchmark price in 2025 was $577,492, two per cent lower than last year’s annual average. However, annual detached and semi-detached prices rose by a respective one and three per cent, while apartment and row homes saw prices fall by a respective three and two per cent. 

Compared to other districts, the North East reported the largest decline in prices this year. While some of this is related to improved supply across all areas of the city, it is also important to note that the North East district also reported the strongest price growth over the past two years. 

For the first time in three years, we are heading into the New Year with better inventory levels. Details on what is expected to happen in the market in 2026 will be released at CREB®’s annual Forecast Conference on Jan. 20, 2026. 

Detached

Detached sales totaled 11,328 in 2025, down by nearly nine per cent compared to last year. Sales eased across all districts in the city, with the steepest declines occurring in the North East, East and City Centre district. However, unlike the City Centre, the North East and East districts also experienced significant gains in inventory compared to long-term trends, driving annual price declines of two per cent. Meanwhile, in the City Centre detached inventory remained well below long-term averages, which likely prevented stronger sales and contributed to the annual price growth of over three per cent. Despite the differing conditions in different areas of the city, slowing sales and rising supply citywide helped move the market into balanced conditions by the second half of the year. The annual average benchmark price was $752,767, one per cent higher than last year’s annual level.  

Semi-Detached

Semi-detached homes represent the smallest segment of the market, accounting for less than 10 per cent of all sales activity. Sales in 2025 were 2,159, eight per cent lower than last year, but slightly higher than long-term trends. Trends for semi-detached homes have been relatively consistent with the detached market. However, it took longer for this segment of the market to shift to more balanced conditions, resulting in stronger annual price gains. In 2025, the average annual benchmark price was $685,850, nearly three per cent higher than last year. Prices did ease in the North district as competition for new homes weighed on resale activity, but the decline in this district was more than offset by the four per cent gain in the City Centre. 

Row

2025 sales eased by 17 per cent to 3,838 units. Despite the decline, sales were still higher than long-term trends, as row homes are starting to account for a larger share of the overall activity in the city. At the same time, new listings also rose relative to sales, driving inventory gains and taking the pressure off prices. Conditions shifted to more balanced levels relatively early in the year, and by the last quarter conditions ranged from a balanced to a buyer’s market depending on the districts of the city. Overall, this contributed to the annual average benchmark price decline of two per cent. While prices were relatively stable in the City Centre, North West, West  and East districts, additional supply in the resale market and competition from new homes caused prices to decline by four per cent in the North East and North districts.

Apartment Condominium

Apartment-style homes reported the largest adjustment in price in 2025. Sales declined by 28 per cent compared to the near record high levels achieved last year. While the decline was significant, sales were still over 28 per cent higher than long-term trends. The main cause of the shift in conditions was due to the supply. Over the past three years, there has been a rise in apartment-style starts. While most of the apartment starts were purpose-built rental, they are adding to the supply choice and weighing on the resale market. Resale condominiums saw the market shift in favour of buyers by the second half of the year, with elevated months of supply being reported in most districts of the city. This resulted in relatively persistent downward pressure on prices, causing the annual average benchmark price to decline by nearly three per cent. Price declines were the steepest in the North East nearing five per cent. The only area to report relative stability in the annual price was in the West district.

REGIONAL MARKET FACTS

Airdrie

Increased competition from the new home market, along with more supply options in competing resale markets, has contributed to the added supply in the resale market in Airdrie. Following four consecutive years of exceptionally low inventory levels, 2025 saw inventory rise to levels not seen since prior to the pandemic. While sales activity did remain in line with long-term trends despite an annual decline, the push up in inventories caused the months of supply to generally rise throughout the year. Overall, the annual average benchmark price eased by two per cent this year. 

Cochrane

Sales in Cochrane were similar to last year and above long-term trends. While demand stayed relatively strong in the town, steady gains in supply did cause conditions to shift to a more balanced state by the end of 2025. With the shift occurring later in the year, we did not see the same downward pressure on prices. In fact, on an annual basis the benchmark price in Cochrane was $578,325, nearly three per cent higher than last year. Cochrane also tends to see a larger share of newer properties being listed and sold on the resale market, impacting the prices in the resale market. 

Okotoks

Okotoks continued to struggle with supply growth. Inventories did rise by over 40 per cent, but levels were exceptionally low last year. Even with the gain in 2025, levels were still 30 per cent below long-term trends. Sales activity in the town remained consistent with the levels reported last year and were higher than long-term trends. The persistently low inventory levels generally kept market conditions relatively tight. However, total residential prices posted only a modest gain over last year, this is likely due to compositional shifts as price growth ranged from over one per cent for detached homes to nearly eight per cent for apartment condominium product. 
 

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

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

Calgary, Alberta, Dec. 1, 2025 – 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. 

To read the full report, go to:  https://www.creb.com/Housing_Statistics/documents/11_2025_Calgary_Monthly_Stats_Package.pdf

October 1, 2025

A boost in new listings drives further inventory gains and price adjustments.

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.

To read the full report, go to: https://www.creb.com/Housing_Statistics/documents/09_2025_Calgary_Monthly_Stats_Package.pd

The Calgary real estate market is currently experiencing a shift towards a more balanced market, with a cooling off period after a period of rapid growth. While detached homes are still in a seller's market, inventory has increased, giving buyers more options and reducing intense competition. Prices are still increasing, but at a slower pace. 

August 1, 2025    Supply growth weighs on home prices 

Thanks to gains mostly occurring in the newer communities, inventory levels in July were 6,917 units, reaching levels not seen since prior to the pandemic and higher than long-term trends. While supply has improved across all property types and all districts, the largest gains are occurring in the areas where there has been new community growth. 
 
The additional supply has weighed on home prices in some parts of the city. The total residential benchmark price in Calgary has trended down over the past several months and is currently four per cent below last year’s peak price reported in June 2024. 
 
“Price declines are not occurring across all property types in all locations of the city, and even where there have been declines, it has not erased all the gains made over the past several years,” said Ann-Marie Lurie, Chief Economist at CREB®. “The steepest price declines have occurred for apartment and row style homes, mostly in the North East and North districts, which coincides with significant gains in new supply.” 
 
The rise in supply occurred as sales continued to slow and new listings improved. In July, there were 2,099 sales, a 12 per cent decline over last year, while new listings reached 3,911 units, an over eight per cent increase over last year. In addition to the persistent economic uncertainty due to tariffs, sales and new listings were impacted by no further reductions in lending rates and added competition from the new home market. Apartment-style homes are reporting the highest months of supply with over four months, while both detached and semi-detached homes are seeing conditions remain relatively balanced at just three months of supply.  

REGIONAL MARKET FACTS

Airdrie

Due to declines in both row and apartment sales, July sales slowed by 14 per cent compared to last July, contributing to the year-to-date decline of 12 per cent. While sales have slowed, activity remains higher than levels reported prior to 2021. What has changed is the significant improvement in new listings, resulting in inventory gains. As of July, inventory levels rose to 543 units, the highest July reported since the peak in 2018. The higher inventory levels kept the months of supply above three months in July, placing some downward pressure on home prices. In July, the benchmark price was $532,800, nearly four per cent lower than levels reported last year at this time. However, last year’s gains were exceptionally high earlier in the year, and on a year-to-date basis prices are only slightly lower than last year.

Cochrane

Unlike other areas, Cochrane has not seen the same level of pullback in sales compared to long-term trends. While July sales were down by seven per cent, year-to-date sales are two per cent lower than last year and 23 per cent higher than long-term trends. New listings in July did reach a record high for the month, causing inventories to push to the highest level reported for the month since 2019 and causing the months of supply to rise above three months. While this likely contributed to some of the monthly decline in price, unlike other areas the July benchmark price of $590,000 was over two per cent higher than last year, and four per cent higher on a year-to-date basis.

Okotoks

This market continues to exhibit tighter market conditions than both Airdrie and Cochrane with a sales-to-new-listings ratio of 71 per cent and months of supply at just over two months. This is a significant improvement compared to the previous four years, where the months of supply in July was just over one month. In July, the benchmark price in the area was $628,500, slightly lower than last month, but higher than last year’s level. Despite some monthly fluctuations, year-to-date prices are over two per cent higher than last year.

To view the full City of Calgary monthly stats package, click below:

https://www.creb.com/Housing_Statistics/documents/07_2025_Calgary_Monthly_Stats_Package.pdf

The Calgary real estate market is currently experiencing a shift towards more balanced conditions, with slowing price growth and increased inventory. While detached and semi-detached home prices remain strong, row and apartment prices are slightly below their 2024 peaks. Overall, the market is seeing a rise in inventory and a decrease in the sales-to-new-listings ratio, indicating a more balanced environment between buyers and sellers. 

Key Trends:

• Price Growth Slowing:

  While benchmark prices continue to rise, the pace of growth has slowed, particularly for row and apartment-style homes. 

• Increased Inventory:

  The number of homes available for sale has increased, leading to more options for buyers. 

• Sales-to-New-Listings Ratio Declining:

  This indicates a shift towards a more balanced market, with less pressure on prices. 

• Shifting Buyer Preferences:

  Buyers are showing a greater preference for detached and semi-detached homes, while row and apartment prices are experiencing more downward pressure. 

• Regional Differences:

  The North East, North, and South East districts are seeing the largest year-over-year price declines. 

If you want to know how the real estate market is impacting you, give me a call and we can chat.

Gerard at 403-703-5548

The Calgary real estate market is transitioning towards balanced conditions, with increased inventory easing pressure on prices, according to WOWA and CREB reports. While home sales have decreased, the average home price remains relatively stable as noted by Canadian Mortgage Trends.   

Here's a more detailed look:

Key Trends:

• Increased Inventory:

  Calgary has seen a significant surge in new listings, leading to a higher months of supply according to CREB reports. 

• Balanced Market:

  The increased supply has moved Calgary into balanced market territory, meaning that the number of homes for sale is more closely aligned with the number of buyers.   

• Stabilized Prices:

  While prices have generally increased over the past year, the pace of growth has slowed due to the increased inventory.   

• Sales Decline:

  Home sales have decreased year-over-year, indicating a potential cooling off in the market.  

Specific Property Types:

• Detached and Semi-Detached:

  These property types continue to experience some tightness in supply, with prices remaining higher than a year ago according to CREB.

• Apartments and Townhouses:

  These property types are seeing more balanced conditions and slower price growth due to the increased inventory, as reported by CREB. 

Overall, the Calgary real estate market is undergoing a shift towards a more balanced and sustainable environment. While the pace of price growth may be slowing, the market remains active, and buyers are likely to have more options and negotiating power than in recent years. 

The Calgary real estate market is currently characterized by a rising inventory, balanced conditions, and strong sales activity. While some areas show signs of cooling, the overall market remains robust. 

Here's a more detailed look:

• Inventory:

  Inventory levels are increasing, with the months of supply reaching 2.2 months, the highest level since the end of 2022. 

• Sales Activity:

  Sales remain strong, although they have eased slightly from record highs. March sales were the sixth strongest in the last 15 years. 

• Prices:

  Average home prices are increasing, with the average home price reaching $646,743. Detached homes are experiencing a 5.4% increase to $839,000. 

• Market Conditions:

  While conditions are considered balanced, activity varies by location. The North East district, for example, has the highest months of supply, resulting in a price decline, according to the CREB. 

• Future Outlook:

  Housing demand is expected to remain strong, with sales forecasted to exceed 26,000 units, according to CREB. 

If you are thinking of selling or buying, give me a call.  I would be more than happy to work with you!  

Gerard at 403-703-5548

Market Report Summary for April 2025

Updated May 2nd, 2025

• The housing inventory continues to rise rapidly.

• At 2,236, Calgary’s monthly home sales saw a 22.4% year-over-year decline.

• The average home price increased by 6.3% annually to $646,743.

• Detached home average price increased by 5.4% year-over-year to $839k.

• Semi-detached home average price decreased by 0.3% year-over-year to $695k.

• Townhouse average price increased by 3.1% year-over-year to $487k.

• Condo apartment average price increased by 2.5% year-over-year to $367k.

• May 5, 2025 Update: Today’s Lowest mortgage rate in Calgary is 3.79% for 3-Year Fixed.

The Calgary real estate market is currently showing signs of shifting towards more balanced conditions, with increased inventory and a slowdown in price growth. While home sales have declined, prices remain above last year's levels, particularly for detached homes and condos.  The average home price in Calgary is around $640,000, with a range of prices depending on property type and location. 

If you are interested in selling or buying, give me a call and we can talk about the market and next steps.

In the Calgary real estate market over the past week, detached home prices saw a 5% increase year-over-year, while semi-detached homes saw a 4% increase, and townhouse prices decreased by 1.8%. 

Here's a more detailed breakdown: 

• Detached Homes:

  The average sold price for detached homes increased by 5% compared to March 2024, reaching $839,232.

• Semi-Detached Homes:

  The average sold price for semi-detached homes increased by 4% compared to March 2024, reaching $714,727.

• Townhouses:

  The average sold price for townhouses decreased by 1.8% compared to March 2024, reaching $471,953.

• Condo Apartments:

  The average sold price for condo apartments increased by 4% compared to March 2024, reaching $354,989.

• Monthly Home Sales:

  Calgary's monthly home sales saw a 19% yearly decline, with 2,159 homes sold

April 1, 2025

Uncertainty weighing on housing market.

Ongoing economic uncertainty, driven by tariff threats, has weighed on consumer confidence and impacted housing activity in March. Sales declined by 19 per cent year-over-year, totaling 2,159 units. Sales slowed across all property types, with the steepest declines seen in higher-density segments.

“It is not a surprise to see a pullback in sales given the uncertainty,” said Ann-Marie Lurie, Chief Economist at CREB®. “However, it is important to note that sales still remain stronger than anything reported throughout 2015 to 2020, where our economy faced significant economic challenges and job loss. Nonetheless, easing demand has been met with gains in new listings and rising inventories, helping our market shift back toward balanced conditions, following four consecutive years where the market favoured the seller.”

March reported over 4,000 new listings, causing the sales-to-new-listing ratio to drop to 54 per cent, low enough to support further inventory gains. Total residential inventory levels reached 5,154 units, and the months of supply pushed up to 2.4 months. While this is a significant change from last year, with limited supply options across all property types and price ranges, conditions reflect a better balance between a seller and a buyer today. However, the market significantly varies depending on location, price point, and property type.

Improving supply has taken the pressure off home prices following the steep gains reported over the previous four years. In March, the unadjusted residential benchmark price reached $592,500, relatively stable compared to both last month and prices reported last March. Both detached and semi-detached prices remain consistent with peak prices and continue to rise, while apartment and row-style homes continue to report prices slightly lower than last year's peak.

To read the full report, go to:  https://www.creb.com/News/Media_Releases/2025/April/March_2025_stats/