September 5, 2025 — Calgary Real Estate Update
Improving supply choice has changed the dynamics of the Calgary market, driving price declines over the past several months. Higher price adjustments are occurring for apartment and row style properties while detached and semi-detached properties have reported modest declines. As of August, the unadjusted total residential benchmark price was $577,200, down nearly four per cent compared to last year.
"The most significant price adjustments are occurring for row and apartment style homes as they are also the product type facing the largest gains in supply choice," said Ann-Marie Lurie, Chief Economist at CREB. "Recent price adjustments have not offset all the gains that have occurred over the past several years."
August reported 1,989 sales, nearly nine per cent lower than last year. New listings remain elevated, keeping the sales-to-new-listings ratio below 60 per cent and pushing inventory to 6,661, the highest August amount since 2019. The months of supply rose to 3.4 months.
DETACHED — BALANCED MARKET
Detached home sales eased to 995 units in August, while new listings rose to 1,748 units. Inventory of 3,051 units was the highest reported in August since 2020. The unadjusted benchmark price in August was $755,600, down by nearly one per cent over last month and last year. Prices varied: the North East and East districts saw five per cent declines, while the City Centre saw prices over two per cent higher than last year.
SEMI-DETACHED — BALANCED MARKET
Semi-detached properties continue to hold relatively balanced conditions. While supply has risen, demand remains healthy enough to prevent the sharp price declines seen in apartment and row-style homes.
ROW/TOWNHOME — SHIFTING MARKET
Row and townhome properties are seeing some of the largest supply gains relative to long-term trends, contributing to year-over-year price declines. Competition from new homes and the rental market is particularly impacting this segment.
APARTMENT/CONDOMINIUM — BUYER'S MARKET
Apartment-style homes are reporting the most significant price adjustments as buyer market conditions persist. Increased rental supply continues to reduce urgency among potential buyers of lower-priced condominiums.