The Calgary housing market has shifted over the summer, with growing inventory levels and softer prices—especially in the apartment and row home segments. Detached and semi-detached homes remain more stable, but overall conditions are moving away from the extreme sellers’ market seen over the past four years.
June 2025 Highlights
- Inventory Growth: Rose to 6,941 units, the highest since 2021 and over long-term trends.
- Supply by Property Type:
- Row & Apartment Homes: Inventory over 30% above long-term trends.
- Detached & Semi-Detached Homes: Supply only slightly above typical levels.
- Row & Apartment Homes: Inventory over 30% above long-term trends.
- Benchmark Price: $586,200 (down from May, and 3% lower year-over-year).
- Row & Apartment Homes: Driving most of the declines.
- Detached Homes: Relatively stable.
- Semi-Detached Homes: Still slightly higher than last year.
- Row & Apartment Homes: Driving most of the declines.
- Market Conditions:
- Row and apartment homes trending toward buyer’s market conditions (nearly 4 months of supply).
- Detached and semi-detached remain balanced.
- Row and apartment homes trending toward buyer’s market conditions (nearly 4 months of supply).
July 2025 Highlights
- Inventory: Climbed to 6,917 units, especially in newer communities.
- Benchmark Price: Continued its decline, sitting 4% below June 2024’s peak.
- Property Type Trends:
- Steepest declines for apartments & row homes, particularly in the North East and North districts.
- Detached & semi-detached homes remain more balanced at ~3 months of supply.
- Steepest declines for apartments & row homes, particularly in the North East and North districts.
- Sales & Listings:
- 2,099 sales (down 12% year-over-year).
- 3,911 new listings (up 8% year-over-year).
- 2,099 sales (down 12% year-over-year).
- Market Drivers: Sales softened due to economic uncertainty (tariffs), no further rate cuts, and competition from new home construction.
August 2025 Highlights
- Benchmark Price: Declined further to $577,200 (down from July, nearly 4% lower year-over-year).
- Sales & Inventory:
- 1,989 sales (down 9% year-over-year).
- 6,661 units in inventory, the highest August level since 2019.
- 1,989 sales (down 9% year-over-year).
- Supply & Balance:
- Sales-to-new-listings ratio under 60%, showing supply outpacing demand.
- 3.4 months of supply, a more balanced market than recent years but still tighter than pre-pandemic buyer’s markets.
- Sales-to-new-listings ratio under 60%, showing supply outpacing demand.
- Property Type Trends:
- Apartments & Row Homes: Continue to see the largest declines due to increased supply.
- Detached & Semi-Detached: Mixed conditions—some modest growth in select areas, larger declines where inventory surged.
- Apartments & Row Homes: Continue to see the largest declines due to increased supply.
What This Means for Buyers & Sellers
- For Buyers: More supply means greater choice and leverage, especially in the apartment and row home segments.
- For Sellers: Detached and semi-detached markets remain more resilient, but strategic pricing and presentation are key as buyers now have more alternatives.
- Overall: Calgary’s housing market is adjusting into a more balanced environment, with variations depending on location, property type, and price range.
Surrounding Areas Market Snapshot – Summer 2025
The Calgary region’s surrounding communities also experienced shifting conditions this summer, though with some variations compared to the city:
- Airdrie:
- Inventory levels rose through the summer, particularly for row and semi-detached homes.
- Benchmark prices trended down modestly, though declines have not erased the significant gains of the past few years.
- Balanced conditions are emerging, giving buyers more negotiating room.
- Inventory levels rose through the summer, particularly for row and semi-detached homes.
- Cochrane:
- Higher supply in newer subdivisions added to overall inventory growth.
- Apartment and row homes are seeing the largest adjustments, while detached homes remain relatively stable.
- Conditions lean toward balance, though demand remains steady thanks to lifestyle appeal and relative affordability.
- Higher supply in newer subdivisions added to overall inventory growth.
- Okotoks:
- Inventory improved over the summer but remains tighter than some neighbouring markets.
- Detached homes continue to hold value better, while apartment and row homes show softer pricing trends.
- Market balance is improving, but conditions remain competitive in popular family-oriented segments.
- Inventory improved over the summer but remains tighter than some neighbouring markets.
- Chestermere:
- New listings increased, especially in larger detached properties.
- Benchmark prices have eased slightly, with softer demand at higher price points.
- Conditions are shifting away from a pure sellers’ market, though unique waterfront and estate-style homes remain in demand.
- New listings increased, especially in larger detached properties.
- Strathmore & Rural Foothills:
- More balanced market conditions have returned as new listings rise.
- Row and apartment properties saw the steepest price adjustments, while detached homes remain relatively stable.
- Rural acreage properties continue to attract niche demand, though sales activity is slower than in recent years.
- More balanced market conditions have returned as new listings rise.
