Spring 2025 Calgary Real Estate Market Update: A Shift Toward Balance
As we move into the back half of 2025, the latest spring market update from the Calgary Real Estate Board (CREB®) offers a fresh look at how things are unfolding in our local real estate landscape. Building on the forecast released in January, this new report digs into sales trends, price shifts, and the bigger economic picture influencing buyer and seller behaviour across the city.
🏠 What’s Happening with Sales?
So far this year, sales have eased more than expected. That’s not too surprising given the current wave of economic uncertainty — interest rates, inflation, and affordability concerns are all weighing on buyer confidence. But here’s the key: while things have cooled, we’re not in a freefall. In fact, we’re seeing activity settle into more typical long-term patterns, still well above the lows we saw between 2015 and 2019.
📈 Inventory Is Climbing — and That’s Not a Bad Thing
The biggest shift right now? Inventory. Years of record-breaking new home starts — especially in higher-density builds like condos and townhomes — are finally starting to hit the market. A lot of these are designed for the rental market, but they’re also giving buyers more options on the resale side.
The result? Inventory levels have more than doubled compared to last year, which is bringing some much-needed balance to the marketplace.
As CREB® Chief Economist Ann-Marie Lurie puts it:
“We’re moving out of a seller’s market and into more balanced territory — in some areas, even tilting in favour of buyers.”
💰 How Are Prices Holding Up?
With more options on the table, we’re starting to see some price softening, particularly in apartment-style condos and row homes. CREB® is forecasting:
- A 2% decline in apartment prices
- A 1% decline for row homes
That said, detached homes are holding relatively steady. In areas where supply is still tight, demand is keeping prices stable — helping offset softer numbers elsewhere in the city.
🧭 What’s Ahead?
While short-term uncertainty still lingers, Calgary’s strong population growth and resilient job market are acting as stabilizers in what could otherwise be a more volatile situation. Looking ahead, policy decisions around energy and the environment will continue to shape our market well beyond 2025.
Final Thoughts
The spring update confirms what many of us have been feeling lately — the market is shifting. Not crashing, not spiraling — just adjusting to a new rhythm. For buyers, this means more choice and negotiation power. For sellers, it means being strategic with pricing and presentation is more important than ever.
If you’re wondering how this shift impacts your goals — whether you’re thinking about buying, selling, or just keeping an eye on the market — I’d love to chat.
Let’s make sense of it together.