May 6, 2025 — Calgary Real Estate Update
A boost in new listings this month relative to sales caused April inventories to rise to 5,876 units. Although this is more than double the number reported last year, last year's supply was exceptionally low, and current inventory levels are consistent with what we typically see in April. April sales reached 2,236 units — 22 per cent below last year's levels but in line with long-term trends.
"Economic uncertainty has weighed on home sales in our market, but levels are still outpacing activity reported during the challenging economic climate experienced prior to the pandemic," said Ann-Marie Lurie, Chief Economist at CREB. "Previous gains in migration, relatively stable employment levels, and better supply choice have prevented a more significant pullback in sales."
The rise in inventory levels helped the market shift to balanced conditions with nearly three months of supply. Benchmark prices for each property type have remained relatively stable. Detached and semi-detached prices are over two per cent higher than last year's levels, while apartment and row-style home prices have remained relatively unchanged.
DETACHED — SELLER'S MARKET
Detached sales were 1,102 units in April — below last year's levels but consistent with long-term trends. Lower-priced detached homes continue to face supply shortages, while the upper price ranges are experiencing more balanced conditions as competition from new homes increases.
SEMI-DETACHED — SELLER'S MARKET
Semi-detached homes continue to see tight supply in the lower price ranges. Prices remain over two per cent higher than last year, reflecting the ongoing demand-supply imbalance at the entry-to-mid price point.
ROW/TOWNHOME — BALANCED MARKET
Row and townhome properties have seen supply improve more broadly across price ranges. Conditions are shifting toward balance, with months of supply rising compared to the seller's market conditions reported last year.
APARTMENT/CONDOMINIUM — BALANCED MARKET
Apartment-style homes are showing signs of supply excess in higher price ranges while lower-priced units continue to see demand. Overall, this segment is shifting toward balance as new homes and rental supply provide additional competition.