July brought some interesting shifts to Calgary’s housing market. Inventory hit 6,917 units—levels we haven’t seen since before the pandemic. Most of this growth is coming from Calgary’s newer communities, where new builds continue to roll out.
With more options on the market, prices in some areas have started to soften. The total residential benchmark price has edged down over the past few months and now sits about four per cent below the peak we saw in June 2024.
That said, it’s important to note this isn’t across the board. Detached and semi-detached homes are holding fairly steady, with balanced conditions at about three months of supply. The biggest price adjustments have shown up in apartment and row-style homes—especially in the North East and North districts—where new supply has surged.
Sales have slowed too, dropping 12 per cent compared to last year, while new listings are up just over eight per cent. Combine that with no recent changes to lending rates and some added competition from the new home market, and you’ve got a recipe for more choice—and in some cases, more negotiating power—than we’ve seen in a while.
If you’re wondering what this means for your home or your next move, let’s chat. Every property type and community is different, and I’m here to help you navigate the numbers with confidence.
—Tyler