April 9, 2025 — Calgary Real Estate Update
Ongoing economic uncertainty, driven by tariff threats, has weighed on consumer confidence and impacted housing activity in March. Sales declined by 19 per cent year-over-year, totalling 2,159 units. Sales slowed across all property types, with the steepest declines seen in higher-density segments.
"It is not a surprise to see a pullback in sales given the uncertainty," said Ann-Marie Lurie, Chief Economist at CREB. "However, sales still remain stronger than anything reported throughout 2015 to 2020. Easing demand has been met with gains in new listings and rising inventories, helping our market shift back toward balanced conditions following four consecutive years where the market favoured the seller."
March reported over 4,000 new listings, causing the sales-to-new-listing ratio to drop to 54 per cent. Total residential inventory levels reached 5,154 units and the months of supply pushed up to 2.4 months. The unadjusted residential benchmark price reached $592,500, relatively stable compared to both last month and prices reported last March.
DETACHED — SELLER'S MARKET
Detached homes continued to see tight conditions relative to other property types. Both detached and semi-detached prices remain consistent with peak prices and continue to rise modestly, supported by ongoing demand and relatively constrained supply in the lower price ranges.
SEMI-DETACHED — SELLER'S MARKET
Semi-detached properties maintain relatively tight conditions. Despite the overall market shift toward balance, this segment continues to report conditions that favour sellers, particularly in the lower-to-mid price ranges.
ROW/TOWNHOME — BALANCED MARKET
Row home prices are slightly lower than last year's peak levels as inventory in this segment has improved. The combination of new home competition and the shift in buyer preference is contributing to more balanced conditions.
APARTMENT/CONDOMINIUM — BALANCED MARKET
Apartment-style homes continue to show signs of shifting toward buyer-friendly conditions. New home supply and improved rental alternatives are providing competition that is moderating price growth and increasing inventory levels.