August 8, 2025 — Calgary Real Estate Update
Inventory levels in July reached 6,917 units, a level not seen since before the pandemic and higher than long-term trends. The total residential benchmark price has trended down over the past several months and is currently four per cent below last year's peak price reported in June 2024.
"Price declines are not occurring across all property types in all locations of the city, and even where there have been declines, it has not erased all the gains made over the past several years," said Ann-Marie Lurie, Chief Economist at CREB. "The steepest price declines have occurred for apartment and row style homes, mostly in the North East and North districts."
In July, there were 2,099 sales, a 12 per cent decline over last year, while new listings reached 3,911 units, over eight per cent higher than last year. Apartment-style homes are reporting the highest months of supply at over four months, while detached and semi-detached homes remain relatively balanced at just three months of supply.
DETACHED — BALANCED MARKET
For the first time since 2020, the months of supply of detached homes rose to three months. Sales slowed to 1,031 units in July. The detached benchmark price was $761,800, down less than one per cent over last year. The North East and East districts saw five per cent declines, while the City Centre rose by nearly two per cent.
SEMI-DETACHED — BALANCED MARKET
Semi-detached sales and inventory levels show relatively balanced conditions. While supply has improved, demand remains stable enough in most districts to prevent significant price adjustments in this segment.
ROW/TOWNHOME — BUYER'S MARKET
Row and townhome properties are experiencing elevated inventory levels, with months of supply pushing higher. Prices are declining year-over-year as competition from new homes and resale inventory weighs on this segment.
APARTMENT/CONDOMINIUM — BUYER'S MARKET
With over four months of supply, apartment-style homes are firmly in buyer's market territory. The combination of elevated resale inventory, new construction, and improved rental options continues to put downward pressure on condo prices.