The Calgary real estate market is constantly changing. Fortunately, we’re here to keep you up-to-date on everything that’s going on. This seasonal update gives you the actual numbers that matter to buyers and sellers.
Calgary Real Estate Market Update: May 2025
Is Calgary’s housing market finally cooling down? After months of frantic activity, buyers are getting a breather this spring.
The numbers tell the story. Sales dropped 22.3% compared to April 2024, while new listings jumped 15.7%. That means more homes to choose from and less competition at showings.
Here’s what’s happening across Calgary’s housing market right now.
Quick Market Facts – Save These Numbers
- Benchmark price: $591,100 (down 1.4% from last year)
- Total sales: 2,236 homes sold (22.3% fewer than April 2024)
- New listings: 4,038 homes hit the market (15.7% more than last year)
- Inventory: 5,867 homes available (up 115.5%)
- Days on market: 29 days average (up from 21 days last year)
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Detached Homes: More Choice, Less Rush
Single-family home buyers finally have some breathing room.
Sales dropped to 1,102 homes in April – down from 1,318 last year. But here’s the good news: inventory more than doubled to 2,511 homes available. That’s the biggest selection buyers have seen in years.
The benchmark price for detached homes sits at $769,300, up slightly from $751,200 last April. But with homes taking 25 days to sell instead of 19, you don’t need to make instant decisions anymore.
What this means for you: Take your time. Visit multiple homes. Ask for repairs. Negotiate on price. The frantic bidding wars are mostly behind us.
Semi-Detached Homes: The Sweet Spot for Many
Townhomes and duplexes are becoming the go-to choice for buyers who want more space without the detached home price tag.
Only 190 semi-detached homes sold in April, compared to 254 last year. But with 484 available (up from 208), buyers have serious options now.
The benchmark price? $691,700 – just $24,000 more than last April. That’s pretty stable pricing for a property type that’s been hot for years.
Why semi-detached makes sense: You get a yard, usually two or three bedrooms, and often a garage. Perfect for young families or people tired of condo fees.
Apartments: Condo Buyers Getting Picky
The condo market shows the biggest shift toward buyers having control.
Sales fell to 589 units from 822 last April. Meanwhile, 1,867 condos are available – nearly double last year’s inventory of 951 units.
Prices stayed almost flat at $336,000 benchmark, up just $500 from last year. But condos now take 36 days to sell instead of 23 days.
What’s happening: Buyers are being selective. They want updated units, good building management, and reasonable condo fees. The days of settling for “good enough” are over.
Where to Buy: Calgary Neighborhood Price Guide
Location still matters most in Calgary real estate. Here’s where your money goes furthest:
Most Affordable Areas
- East Calgary: $429,200 benchmark (down 1.9%)
- North East: $509,100 benchmark (down 2.6%)
Mid-Range Neighborhoods
- North: $553,600 benchmark (down 2.9%)
- South East: $585,400 benchmark (down 0.6%)
- South: $590,200 benchmark (up 0.2% – the only area with price growth)
Premium Areas
- City Centre: $594,800 benchmark (down 2.6%)
- North West: $649,900 benchmark (down 0.9%)
- West: $717,400 benchmark (down 0.3%)
Best value play: East Calgary offers the most house for your money, with prices under $430,000 and good access to downtown. South Calgary is the only area seeing price growth, suggesting strong demand.
What This Market Means for You
If You’re Buying
This is your market now. More inventory, longer days on market, and stable prices give you negotiating power you haven’t had in years.
Don’t rush. See multiple properties. Ask for home warranties, closing cost help, or repairs. Sellers are more willing to work with you.
If You’re Selling
Price it right from day one. With 115% more inventory than last year, overpriced homes get ignored fast.
Stage your home, handle obvious repairs, and be ready to negotiate. Good homes still sell, but average ones sit longer.
The Justin Havre Perspective
At Justin Havre Real Estate Team, we believe a house isn’t truly a home until you place a bit of your heart and love into it. Having served over 11,000 Calgary families throughout our 17+ years in this community, we understand that our success is your success—whether you’re buying your first home or finding your next dream property.
Our team’s decades of combined experience and proven marketing strategies allow us to navigate changing market conditions effectively. We know Calgary. We know its neighbourhoods, its market cycles, and most importantly, its people.
Ready to Buy? Search now for all Calgary homes on the market.
Thinking about selling? See how much your home is worth.
Calgary Real Estate Market Update: Spring 2025 Trends and Insights
The Calgary real estate landscape is evolving in meaningful ways. As we move through Spring 2025, several key market indicators show a shift toward more balanced conditions. For those considering buying or selling property in Calgary, understanding these changes is essential for making informed decisions.
Market Overview: Increasing Inventory, Moderating Sales
February 2025 data reveals significant shifts in Calgary’s housing market dynamics:
- Inventory increased 76% year-over-year to 4,145 units
- Sales decreased 19% compared to last year, with 1,721 properties sold
- Prices continue to rise but at a more measured pace than in previous quarters
Currently, Calgary sits at 2.4 months of supply—still below what defines a truly balanced market (2.5-6 months), but moving in that direction. This represents a normalization after several years of exceptionally tight inventory conditions.
The February deep freeze likely contributed to slower market activity, as extreme weather typically impacts showing schedules and buyer motivation.
What These Changes Mean For Calgary Homebuyers and Sellers
For Homebuyers:
The increasing inventory creates tangible advantages:
- Greater selection across all property types
- Reduced competition in most segments
- Enhanced negotiation opportunities
- More thoughtful decision-making timelines
The apartment sector offers the most favourable buyer conditions with 3.1 months of supply. If you’ve been waiting for the right time to enter the market, these improving conditions merit consideration.
For Home Sellers:
Despite market shifts, selling conditions remain favourable:
- Benchmark prices remain higher than last year across all property categories
- Detached homes: 5% increase (benchmark price: $576,500)
- Semi-detached: 7% increase (benchmark price: $568,335)
- Townhomes: 3% increase (benchmark price: $444,868)
- Apartments: 4% increase (benchmark price: $334,000)
The key difference in today’s market is the need for strategic positioning. Properties require proper pricing, thoughtful preparation, and effective marketing to achieve optimal results.
Performance by Housing Category
Detached Home Segment
- February sales: 765 units (20% decrease year-over-year)
- New listings: 6% increase from last year
- Current inventory: 1,698 homes (61% higher than February 2024)
- Price growth: 5% year-over-year increase
- Strongest performing districts: City center and south Calgary (nearly 8% price growth)
Detached homes continue showing resilience in pricing despite increased inventory levels. Well-prepared, properly-priced properties in desirable locations maintain strong buyer interest.
Semi-Detached Market
- Sales: 165 homes (14% year-over-year decrease)
- New listings: 7% increase
- Current inventory: 326 units (46% higher than February 2024)
- Price performance: Solid 7% annual growth
This segment maintains healthy price appreciation despite moderating sales, suggesting continued demand for this housing type.
Townhome Segment
- Sales: 318 units (9% decrease)
- Inventory: Substantial 113% increase to 655 units
- Price growth: Moderated to 3% year-over-year
The significant inventory increase in this category gives buyers considerably more options than in recent years.
Apartment Segment – Most Notable Shift
- Sales: 473 units (26% decrease from February 2024)
- New listings: Record February levels at 852 units
- Current inventory: 1,466 units (90% higher year-over-year)
- Supply: 3.1 months (highest among all property types)
- Price performance: 4% annual increase despite inventory growth
- Strongest district: West Calgary (8%+ price growth)
The apartment sector presents excellent opportunities for first-time buyers and downsizers, with significantly improved selection and potential negotiating leverage.
Key Market Influences
Several important factors are shaping Calgary’s real estate environment:
Economic and Employment Conditions
- Calgary’s unemployment rate rose to 7.7% (from 5.9% last year)
- Approximately 52,700 residents currently receiving Employment Insurance benefits
- Growth sectors: Healthcare, trade, and construction
- Challenging sectors: Food service, accommodation, and transportation
Employment stability directly impacts housing demand, with current labour market uncertainty potentially tempering buyer confidence in some segments.
US Tariff Considerations
Recent trade developments introduce new variables:
- Proposed 10% tariff on Canadian energy exports could impact Calgary’s vital energy sector
- Potential employment effects if energy production declines
- Possible impacts on consumer confidence
- Potential construction cost increases if building material tariffs are implemented
While day-to-day headlines can cause concern, it’s important to maintain perspective. Trade relationships evolve, and most experts anticipate the eventual resolution of these issues.
Interest Rate Environment
- Bank of Canada’s policy rate: 3% (as of March 4, 2025)
- Current competitive mortgage offerings:
- 3-year fixed insured: 3.87%
- 5-year fixed insured: 3.89%
- 5-year variable insured: 4.15%
These rates remain relatively favourable for buyers compared to historical averages.
Calgary Market Outlook
Looking ahead, several trends appear likely:
- Price appreciation continues but at more moderate rates
- Buyers enjoying enhanced negotiating positions
- Sellers need to focus on strategic pricing and property presentation
- Strongest inventory growth in properties under $500,000
- Economic developments potentially create market fluctuations
The normalization we’re witnessing represents a healthier, more sustainable market. Understanding where we are in the cycle helps contextualize these changes:
- 0-2.5 months supply: Seller’s market conditions
- 2.5-6 months supply: Balanced market conditions
- 6+ months supply: Buyer’s market conditions
At 2.4 months, Calgary is approaching balanced territory—a welcome development that will benefit the market’s long-term health.
Strategic Approaches for Today’s Market
For Homebuyers:
- Leverage increased selection to find properties that truly meet your needs
- Take advantage of less pressured decision-making timeframes
- Secure financing while interest rates remain favourable
- Consider segments with higher inventory for potentially stronger negotiating positions
- Evaluate properties holistically—location, condition, and long-term value remain crucial
For Home Sellers:
- Implement strategic pricing from the outset—the first 14-21 days on the market are critical
- Invest in professional staging and photography
- Prepare for more substantive negotiations than in recent years
- Research comparable neighbourhood listings thoroughly
- Consider seasonal timing—spring typically brings strong buyer activity
Looking Forward
Calgary’s real estate market is transitioning to more normalized conditions after several extraordinary years. While inventory has increased and sales have moderated, prices continue to appreciate—just at a more sustainable pace.
For those concerned about a potential market correction, current data doesn’t support such predictions. Instead, we’re seeing a healthy balance that benefits the ecosystem as a whole. For buyers, this means improved selection and less pressure. For sellers, it means focusing on proper preparation and strategic positioning.
While no one can predict with certainty what the next six months will bring—especially with variables like trade policies and interest rates in play—the movement toward market equilibrium represents positive progress for Calgary’s long-term housing stability.
Employment figures, interest rate movements, and broader economic indicators will continue influencing market direction. Staying informed about these factors helps both buyers and sellers make confident decisions in this evolving landscape.