Detached

New listings in May rose to 2,419 units, with most of the gains driven by homes priced over $600,000. At the same time, sales activity has slowed across most price ranges, supporting a shift toward more balanced conditions and relative stability in prices. However, districts that are facing more competition from new home product or are seeing a larger pullback in demand are starting to show some signs of elevated supply. 

The North East district has seen the largest pullback in resale sales activity combined with some of the highest gains in new listings. This has driven the sales-to-new listings ratio down to 41 per cent and the months of supply was nearly four months in May. This is causing prices to ease in the North East, offsetting some of the gains reported in the City Centre, West, and North West districts. City-wide the unadjusted benchmark price in May was $769,400, similar to last month, one percent higher than last May, and still above last year’s seasonal peak price.  

Semi-Detached

The 428 new listings in May were met with 256 sales, causing the sales-to-new-listings ratio to rise to 60 per cent this month. This slowed the pace of inventory growth and the months of supply remained just above two months.  Semi-detached homes continue to remain less than 10 per cent of all sales and inventory levels in the city. This in part is due to construction patterns shifting toward more row style properties over semi-detached, and is one of the reasons we do not see the same inventory build as row and apartment style homes.  

Like the detached market there is significant variation within the city districts. The North East has the highest months of supply at nearly three months and is reporting some price declines, while the tightest conditions are in the North West, where prices continue to rise. Overall, generally tighter conditions are still supporting price gains for semi-detached properties. In April the unadjusted benchmark price was $697,300, a monthly gain of less than one per cent, nearly three per cent higher than last year’s levels and above last year’s seasonal peak.

Row

Row home sales have eased over last year’s near record high pace but stayed well above long-term trends.  However, the gain in new listings has continued to cause further inventory gains. For the second month in a row, inventory levels were over 1,000 units; we have not seen this much inventory for row units since 2021. 

While inventory levels have improved across all districts, we are starting to see higher months of supply in the North East district at 3.5 months, resulting in some downward pressure on prices. The North, North West and South areas have also reported higher year-over-year pullbacks in resale prices, as improved supply choice for new properties are impacting resale activity. Overall, the benchmark price in May was $453,600, down over last month, nearly two per cent below last May, and lower than last year’s seasonal high.  

Apartment Condominium

Sales this month totaled 579 units, a significant decline over last May’s record high of 907 units. While new listings were lower than levels reported last year, they remained high compared to sales, causing the sales-to-new listings ratio to drop to 47% this month. This contributed to further inventory gains and drove the months of supply up to 3.6 months. High levels of apartment rental units under construction are adding to the rental supply and contributing to rent adjustments. This is likely slowing condo ownership demand coming from existing renters and potential investors, contributing to some of the shifts witnessed in the apartment condominium sector.  

More supply choice is also weighing on condominium prices. In May the benchmark price eased to $335,300, down from last month and over one per cent lower than last year. The steepest declines are occurring in the North East and South East districts, where competition from the new home market is weighing on resale pricing. While prices have eased and are below peak levels, recent declines have not offset the double-digit gains reported over the past two years.

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Price adjustments mostly driven by apartment and row style homes
June 02, 2025 | CREB

Calgary, Alberta, June 2, 2025 – Thanks to steep pullbacks in the apartment condominium sector, total residential sales in Calgary eased by 17 per cent compared to May of last year. While the drop does seem significant, the 2,568 sales this month remain 11 per cent higher than long-term trends for May and improved over last month.

New listings continued to rise this month compared to sales, resulting in further gains in inventory levels. However, the monthly gain in both inventory and sales prevented any significant change in the months of supply compared to April. With 2.6 months of supply, conditions are still relatively balanced.  

“Compared to last year, easing sales and rising inventories are consistent trends across many cities, as uncertainty continues to weigh on housing demand. However, prior to the economic uncertainty, Calgary was dealing with seller market conditions, and the recent pullbacks in sales and inventory have helped shift us toward balanced conditions taking the pressure off prices,” said Ann-Marie Lurie, Chief Economist at CREB®. “This is a different situation from some of the other larger cities, where their housing markets were struggling prior to the addition of economic uncertainty.”    

Last year there was limited inventory across most property types and price ranges. Recent inventory gains are creating pockets of the market that are struggling with too much supply while in other areas supply levels are still low relative to the demand, resulting in divergent trends in home prices. Both detached and semi-detached home prices have remained relatively stable this month and are still higher than last year’s levels. Meanwhile, row and apartment style homes have reported modest monthly price declines and May prices remain below last year’s levels, as improved new home and rental supply is weighing on resale prices. Overall, the total residential unadjusted benchmark price in Calgary was $589,900, slightly lower than last month and over two per cent below May 2024 levels. 

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Acadia  |  Belmont  |  Bonavista Downs

Braeside  |  Bridlewood  |  Canyon Meadows  

Cedarbrae  |  Chaparral  |  Chinook Park 

Deer Ridge |  Deer Run  |  Diamond Cove

Eagle Ridge  |  Evergreen  |  Fairview

Haysboro  |  Kelvin Grove  |  Kingsland

Lake Bonavista |  Legacy  |  Maple Ridge  

Midnapore  |  Millrise  |  Oakridge  |  Palliser

Parkland  |  Pump Hill  |  Queensland  

Shawnee Slopes  |  Shawnessy  |  Silverado

Somerset  |  South Calgary  |  Southwood

Walden  |  Willow Park  |  Woodbine

Woodlands  

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Luxury homes are high-end residential properties that offer superior quality, design, and amenities. These homes typically feature spacious layouts, premium building materials, state-of-the-art technology, and a high level of craftsmanship. Luxury homes are often located in prestigious areas, offering breathtaking views, privacy, and exclusivity. Key characteristics might include features like large swimming pools, home theatres, smart home systems, expansive gardens, and top-of-the-line appliances. In addition to the physical attributes, luxury homes also tend to be priced significantly higher than average homes due to their exceptional quality and unique locations.

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Members of The Institute for Luxury Home Marketing who hold the CLHMS designation (Stewart J Lowe-Calgary & Area) have successfully documented performance in the TOP 10% of their markets, and have successfully demonstrated their expertise in the luxury home and estate market.

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***As a Guild Member of The Institute for Luxury Home Marketing™ Team Leader Stewart J Lowe is part of an International Network of Real Estate Professionals who specialise in the Luxury Market. Reach out for us to represent you!

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1. Home Price Growth

• Projected Increase: The average Calgary home price is expected to rise by approximately 4.5% this year, driven by growing buyer confidence and easing interest rates.

• Current Averages: As of January 2025, the average home price stands at $605,026, reflecting a 6.3% year-over-year increase.

2. Population Growth and Housing Demand

• Population Increase: Calgary's population is projected to grow by 2.9% in 2025, bolstering housing demand, especially in family-friendly and affordable neighborhoods.

• Supply Dynamics: While new listings have increased, demand continues to outpace supply, particularly in mid-range properties.

3. Market Balance and Inventory

• Balanced Conditions: The sales-to-new-listings ratio (SNLR) in Calgary was 50% in January 2025, indicating a balanced market.

• Inventory Levels: Inventory increased by 69% year-over-year to 3,639 units, equating to 2.5 months of supply.

4. Economic Factors

• Economic Growth: Calgary's economy is projected to grow by 3.2% in 2025, driven by job stability and investments in sectors like technology and renewable energy.

• Interest Rates: Easing mortgage rates are enhancing affordability, encouraging more buyers to enter the market.

5. Rental Market Trends

• Average Rents: The average rent in Calgary was $1,921 in December 2024, reflecting a 7.0% decrease year-over-year.

• Affordability: Despite recent decreases, Calgary remains more affordable compared to cities like Toronto and Vancouver, making it attractive for both renters and buyers.

In summary, Calgary's real estate market in 2025 is characterised by steady price growth, balanced market conditions, and strong economic fundamentals. Buyers and sellers are encouraged to stay informed and work closely with real estate professionals to navigate this dynamic landscape effectively.

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Big City living in Calgary isn’t for everyone, some people like to look up at stars instead of the city lights. So moving out of a City or suburbs to a rural area might be next on your bucket list. If it is, here are a quick glance at what you need to look at, but we always advise to talk to a lender who understands rural sales, we can suggest a few.

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CONDO LIVING IN CALGARY is for the buyer who just wants to be in the centre of everything. There are many common misconceptions about owning a condo such as big condo fees and rules that determine what you can or can't-do.

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Big City living in Calgary isn’t for everyone, some people like to look up at stars instead of the city lights. So moving out of a City or suburbs to a rural area might be next on your bucket list. If it is, here are a quick glance at what you need to look at, but we always advise to talk to a lender who understands rural sales, we can suggest a few.

BUYING AN ACREAGE

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