June 3, 2025 — Calgary Real Estate Update
Thanks to steep pullbacks in the apartment condominium sector, total residential sales in Calgary eased by 17 per cent compared to May of last year. While the drop does seem significant, the 2,568 sales this month remain 11 per cent higher than long-term trends for May.
"Compared to last year, easing sales and rising inventories are consistent trends across many cities, as uncertainty continues to weigh on housing demand. However, prior to the economic uncertainty, Calgary was dealing with seller market conditions, and the recent pullbacks in sales have helped shift us toward balanced conditions taking the pressure off prices," said Ann-Marie Lurie, Chief Economist at CREB.
Both detached and semi-detached home prices have remained relatively stable and are still higher than last year's levels. Meanwhile, row and apartment style homes have reported modest monthly price declines. With 2.6 months of supply citywide, conditions remain relatively balanced.
DETACHED — SELLER'S MARKET
Detached homes continue to see relatively tight conditions compared to other property types. Prices are still above last year's levels, though gains have moderated. Lower-priced detached homes continue to see more competition than higher-priced properties.
SEMI-DETACHED — BALANCED MARKET
Semi-detached properties are transitioning toward balanced conditions. Prices remain higher than last year's levels, and demand is relatively stable compared to the softening seen in higher-density segments.
ROW/TOWNHOME — SHIFTING MARKET
Row home prices have fallen below last year's levels as improved new home and rental supply competes with resale inventory. Months of supply have risen, giving buyers more options in this segment.
APARTMENT/CONDOMINIUM — BUYER'S MARKET
The steepest pullback in sales has been in the apartment sector, driven by improved rental alternatives and new construction. Prices are below last year's levels as buyer market conditions take hold in most districts.