TSN Turning Point – Calgary Market Update
Recapping April 2025
April marked a noticeable shift in Calgary and area real estate—what I’d call a real TSN Turning Point. After years of strong momentum, we finally saw more inventory hit the market, buyer activity ease, and in some segments, prices soften for the first time in years.
If you’ve been following my monthly updates, you know I often reference how stats stack up against long-term averages rather than year-over-year outliers. Well, for the first time in a while, inventory levels have caught up to those historical norms. That’s a significant change.
Why the Slowdown?
A few major factors contributed to April’s 22% drop in sales compared to last year:
- The Bank of Canada holding the overnight lending rate
- Concerns over tariffs and their potential impact on employment
- The looming Federal Election
These have all added layers of uncertainty. Still, this isn’t a full-blown market pullback—what we’re seeing is a shift toward more balanced conditions.
“Economic uncertainty has weighed on home sales… but levels are still outpacing activity reported during the challenging economic climate experienced prior to the pandemic,”
– Ann-Marie Lurie, Chief Economist, CREB®
One Market? Not Quite.
It’s critical to remember: real estate isn’t one-size-fits-all.
Here’s what we’re seeing across different segments:
- 🏡 Lower-priced detached homes: Still in short supply and moving fast
- 💎 Luxury properties: Sales remain strong and steady
- 🏘️ Row and apartment-style homes: Now entering balanced territory, with some areas seeing modest price adjustments
Despite all the moving parts, home prices across Calgary and area have remained relatively stable compared to last year. That’s encouraging.
Looking Ahead: Opportunity in Balance
There are a few key takeaways heading into the rest of Q2:
- 📉 The potential for interest rate cuts could reignite momentum
- 🧠 Sellers will need to adjust their strategy—pricing and presentation matter more than ever
- 😌 Buyers benefit from breathing room—less pressure and more choice
- 🔁 Buy/sell move-up clients take note: A balanced market is one of the best environments to make that transition
Final Thought: Real Estate Is Local
National headlines don’t tell Calgary’s story. Our market often bucks the national trend, and that’s definitely the case right now. If you’re wondering what this means for your home, your plans, or your next move—reach out anytime. I’d be happy to provide a personalized strategy and walk you through what’s happening on the ground in your neighbourhood.
Let’s make the next move the right one—for you.
The Calgary real estate market continues to shift in April 2025, with more balanced conditions emerging across nearly all property types. While sales have generally eased from last year’s record highs, new listings and inventory levels are rising, offering buyers more choice and slightly easing price pressures. Still, market dynamics vary widely by product type and region. Here’s a snapshot of how each segment is performing both within Calgary and in the surrounding areas like Airdrie, Cochrane, and Okotoks.
Calgary Product Types
Detached Homes
- Sales: 1,102 (↓16% YoY)
- New Listings: 1,907 (Balanced S/NL ratio at 58%)
- Inventory: 2,511 units
- Months of Supply: 2.3 months (↑ from <1 month last year)
- Benchmark Price: $769,300 (↔ MoM, ↑2% YoY)
- Notables:
- Still tight supply in lower-priced detached segment.
- City Centre saw the strongest YoY price growth at nearly 5%.
Semi-Detached Homes
- Sales: 190 (↓16% YTD)
- New Listings: 350 (S/NL ratio at 54%)
- Inventory: 484 units
- Months of Supply: 2.6 months (↑ from <1 month last year)
- Benchmark Price: $691,700 (↔ MoM, ↑3% YoY)
- Notables:
- Balanced conditions emerging.
- City Centre had strongest price gain (↑5% YoY), North remained flat.
Row Homes
- Sales: Down (↓16% YTD)
- New Listings: Up
- Sales-to-New-Listings Ratio: 51%
- Inventory: 1,005 units (highest since 2021)
- Months of Supply: ~3 months
- Benchmark Price: $457,400 (↗ MoM, ↔ YoY)
- Notables:
- Prices held relatively steady.
- North and North East districts saw price pullbacks.
Apartment Condos
- Sales: ↓30% YoY (from record highs)
- New Listings: Record high for April
- Inventory: Up
- Months of Supply: 3 months (balanced)
- Benchmark Price: $336,000 (↔ YoY, ↓3% from peak)
- Notables:
- North East district had the highest supply (7 months) and a ↓2% YoY price drop.
- Price performance varied widely by location.
Regional Markets
Airdrie
- Sales: 185 (↓ YoY but still above long-term trends)
- New Listings: 290 (S/NL ratio at 64%)
- Inventory: Increasing, now aligned with long-term norms
- Months of Supply: 2.3 months (balanced)
- Benchmark Price: $544,700 (↔ MoM & YoY)
Cochrane
- Sales: Steady YoY, 335 YTD (↑5% YoY)
- New Listings: Increasing (S/NL ratio at 60%)
- Inventory: 246 units (just under long-term trend)
- Benchmark Price: $592,000 (↗ MoM, ↑6% YoY)
- Notables: Record-high benchmark price
Okotoks
- Sales: Down (↓16% YTD)
- New Listings: Up (S/NL ratio at 53%)
- Inventory: 127 units (↑, but still below long-term trend)
- Benchmark Price: $627,100 (↓ MoM, ↑2% YoY)
- Notables: First meaningful improvement in supply after years of constraint
