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Calgary’s real estate market continued to shift in June, with 2,197 sales across the city. That was an improvement over May, but still nearly four per cent lower than this time last year and slightly below the long-term average for June. The bigger story, however, is not just sales. It is inventory, and where that inventory is showing up.

After several years of very tight supply, Calgary now has more choice in the market. That is especially true in higher-density housing, including apartments, row homes, rentals, and new construction. As more of that supply becomes available, buyers have more options and prices are starting to adjust, particularly in the apartment condominium segment.

The citywide benchmark price in June was $572,500. That is up slightly from May, but still about two per cent lower than last June. Detached homes remain the most stable part of the market, with a benchmark price of $750,500, while apartment condominiums saw more pressure, with prices down nearly nine per cent year-over-year to $299,000.

This is a good example of why it is important not to talk about “the Calgary market” as if everything is moving the same way. It is not. Detached homes in certain areas are still performing well, and some districts are even seeing record-high prices. At the same time, apartment condos, especially in areas with more supply, are firmly in buyer’s market territory.

Detached homes saw 1,202 sales in June, which was essentially in line with last year. Activity was strongest at both ends of the market, with more sales under $600,000 and over $1,000,000. Overall, detached conditions remain relatively balanced, although the North East and East districts are seeing more supply and more downward pressure on prices.

Semi-detached homes were also fairly steady. June sales reached 234 units, and with two and a half months of supply, this segment remains balanced. The benchmark price was $694,600, which is very similar to last year. Like detached homes, performance varies by district, with stronger conditions in the North West, West, and City Centre, and softer conditions in the North East.

Row homes are sitting near the upper end of balanced conditions. Sales and new listings both pulled back in June, but inventory remains above long-term trends. Prices have adjusted across all districts compared to last year, with the largest declines in the North East and East districts.

Apartment condominiums continue to face the most pressure. Sales are down 26 per cent year-to-date, and inventory is more than 24 per cent above typical levels. With roughly five months of supply and a sales-to-new-listings ratio of 45 per cent, this segment is clearly favouring buyers. Prices are down across every district, with the steepest declines in the North East and East.

For buyers, this market offers more choice and a little more breathing room than we have seen over the past few years, especially in condos and higher-density homes. For sellers, preparation, pricing, and strategy matter more than they did in the hotter market. The days of simply listing and expecting the market to do the heavy lifting are behind us, at least for now.

The takeaway is simple: Calgary is not in one single market. It depends on what you own, where it is located, what price range you are in, and how much competing inventory exists around you. Some segments remain very healthy. Others are adjusting. And in a more balanced market, good advice matters more than ever.

If you’ve been following the Calgary real estate market over the past few months, you’ve probably noticed things feel a little different.

Buyers have more options.

Sellers are facing more competition.

And depending on what type of property you’re looking at, the market can feel very different from one neighbourhood to the next.

Inventory continues to build across Calgary, with over 6,700 homes currently available for sale. That’s about 11% higher than what we would typically expect to see at this time of year. Much of that increase is coming from condos and row-style homes, while detached home inventory remains relatively tight.

Sales activity has slowed compared to last year, down approximately 16%, which has helped shift the overall market away from the strong seller conditions we experienced through much of 2024 and into a more balanced environment.

What does that mean in practical terms?

For detached homes, particularly in desirable areas of southwest Calgary, well-priced properties are still selling and prices have remained relatively stable. In fact, detached benchmark prices have climbed from January levels and are holding up well despite the increase in inventory.

The condo market tells a different story.

Condominium inventory remains elevated and buyers have significantly more choice than they did a year ago. As a result, condo prices have softened, with benchmark prices now sitting roughly 9% below where they were this time last year. In many areas of the city, condos have shifted firmly into buyer’s market territory.

Row homes and semi-detached properties continue to sit somewhere in the middle. Inventory has increased, but conditions remain relatively balanced and prices have generally held up better than the condo sector.

One thing worth remembering is that Calgary is no longer moving as a single market.

A detached home in West Calgary may still attract multiple interested buyers, while a condo in another part of the city could sit on the market longer and face downward pressure on pricing. The days of using one headline to describe the entire market are behind us.

My advice remains the same.

If you’re buying, there are more opportunities today than we’ve seen in quite some time, particularly in the condo and townhouse segments.

If you’re selling, pricing strategy matters more than ever. Buyers have choices, and the homes that are attracting the most attention are the ones that enter the market positioned correctly from day one.

As always, if you’re curious about what these market conditions mean for your specific neighbourhood or property, I’m always happy to chat.

The Calgary real estate market continues to move toward more balanced conditions this spring, but the story really depends on what type of property you’re looking at.

Overall sales in April were down about six per cent compared to last year, which honestly isn’t all that surprising. Over the past few years we saw incredibly aggressive demand driven largely by rapid migration into Alberta, low inventory, and buyers feeling pressure to make quick decisions. That urgency has started to settle down a bit as inventory slowly improves across most segments of the market.

What I’m seeing right now is a market that feels much more measured. Buyers are taking their time again. They’re comparing options, negotiating harder, and being more selective overall. In many ways, this is starting to feel like a healthier and more balanced market than what we experienced over the past couple of years.

That said, not all property types are behaving the same way.

Detached homes are still holding relatively strong, especially in areas like the North West, West Calgary, and parts of the South where inventory remains tight. In those areas, we’re still seeing seller-favoured conditions with less than two months of supply available. Benchmark pricing for detached homes sits around $745,400, and while prices have softened slightly from last year, the declines have been fairly modest overall.

On the flip side, apartment-style condos are telling a very different story.

Inventory in the condo market continues to rise and buyers now have significantly more choice than they did a year ago. With over four months of supply in some areas, conditions are clearly favouring buyers. Condo benchmark prices are down nearly nine per cent year over year, with the steepest declines occurring in the North East, East, North, and South East districts.

Row homes and semi-detached properties are sitting somewhere in the middle. Most of these segments are behaving in a relatively balanced way overall, although location still matters tremendously. Some communities are seeing stable pricing while others continue to adjust downward depending on inventory levels and buyer demand.

One thing I continue to remind clients is this: Calgary is no longer moving as one single market. We’re seeing very different conditions depending on the quadrant, community, and property type. A detached home in West Calgary can still feel highly competitive, while certain condo segments are giving buyers far more leverage and negotiating power. As we move deeper into spring, I think the biggest shift compared to the past few years is psychology. Buyers simply don’t feel the same pressure to rush. More inventory has created more breathing room, and that naturally changes negotiating dynamics.

For sellers, pricing and positioning matter more than ever right now. Buyers are still active, but they’re far less forgiving when a property feels overpriced compared to competing options. For buyers, there may finally be some opportunity returning to parts of the market that felt almost impossible to navigate not that long ago.

As always, if you’re curious about what’s happening specifically in your community or property type, feel free to reach out anytime.

Tyler

As we moved through March, supply conditions really depended on the type of property you’re looking at. Inventory did what it typically does this time of year and increased month over month. But when you zoom out and compare it to longer-term trends, we’re seeing a pretty clear split in the market. Row and apartment-style homes are sitting with inventory levels well above the 10-year average, while detached homes remain well below it. That’s not overly surprising given we saw a pullback in detached housing starts last year, while apartment construction hit record highs.

On the sales side, there were 1,881 transactions in March. That’s an improvement from February, but still about 13 percent lower than where we were at this time last year and below what we’d typically expect for March.

A big part of that slowdown is coming from the apartment sector. Buyers have more choice right now, and with migration easing off a bit, demand is being spread across more available inventory. Detached homes are also seeing some slowdown compared to long-term trends, but in many cases that comes down to limited supply in certain areas of the city.

From a high-level perspective, the market looks fairly balanced right now. Sales, new listings, inventory, and prices all ticked up as we head into the spring market. But when you break it down, it’s really two different stories. Detached homes are still operating in tighter conditions, while the apartment market is leaning more in favour of buyers. That dynamic is pushing detached prices up, while putting some downward pressure on condo prices.

The overall benchmark price in the city came in at $565,600. That’s up just under one percent from February, but still down more than four percent compared to last year. Looking at the first quarter as a whole, prices for lower-density homes have been relatively stable, while apartment-style condos continue to soften, dropping another three percent compared to the end of last year.

Here’s a stat that caught my attention this week.

Over the past 20 years, Toronto’s population has absolutely exploded. But interestingly, the number of kids under five living there has actually dropped.

Meanwhile out West… the opposite is happening.

Cities like Edmonton, Calgary, and even Quebec City are seeing significant growth in young families. Edmonton leads the pack with nearly 70% growth in the under-five population since 2005, with Calgary not far behind.

That’s a pretty telling trend.

While the biggest cities in Canada continue to grow overall, many young families are choosing places where life is just a little more manageable. Think more space, slightly saner housing prices, access to the outdoors, and communities that still feel like communities.

And honestly, Calgary checks a lot of those boxes.

I see this play out all the time in my day-to-day work. Many of the people buying homes right now are young couples planning their first child or families with toddlers who want more room to grow. They’re looking for backyards, parks nearby, good schools, and neighbourhoods where kids still ride bikes on the street.

What’s interesting is that Calgary’s growth in young families doesn’t just come from local buyers. A lot of it comes from people relocating from Ontario and B.C. who realize they can still build a great life here without sacrificing every square foot of space to housing costs.

And that shift matters.

Young families drive demand for schools, parks, recreation programs, and community infrastructure. They create the energy that makes neighbourhoods feel alive. In many ways, they’re the heartbeat of a healthy city.

So while headlines often focus on population growth in Toronto and Vancouver, the quieter story is happening here in Western Canada.

Young families are putting down roots.

And Calgary is one of the places they’re choosing to do it.

Calgary’s housing market continues to show very different conditions depending on the type of property.

Detached and semi-detached homes remain the tightest segments of the market, with less than three months of supply available. That level generally signals a relatively competitive market for buyers, especially in certain price ranges. Row homes are sitting in a more balanced position, with supply and demand closer to equilibrium.

Apartments and condominiums, however, are telling a different story. Supply has been rising, creating conditions that are increasingly favourable for buyers.

Part of the reason comes down to construction. Calgary saw record levels of housing starts last year, much of it in apartment-style buildings. There are currently close to 18,000 apartment units under construction across the city. While many of these units are intended for the rental market, the increase in supply still influences the broader condo ownership market.

At the same time, the detached market continues to face a different challenge. Inventory remains particularly limited for homes priced under $700,000, while higher price ranges are generally more balanced.

Across all property types, Calgary’s overall market remains relatively balanced. The city currently sits at about three months of supply with a sales-to-new-listings ratio of roughly 55 percent.

Inventory reached 4,822 homes in February, with condominiums and row homes making up more than half of the available listings. Total sales came in at 1,526 for the month, about 11 percent lower than last February, largely due to a slowdown in apartment and row home sales.

As is typical early in the year, prices saw some monthly gains following declines late last year. Most property types recorded modest price increases in February. The exception was apartment-style homes, where prices continued to ease.

Overall, Calgary’s residential benchmark price reached $560,500 in February. That’s about one percent higher than January, but still roughly four percent below where prices were at this time last year.

January brought a more measured pace to the Calgary market, especially in the apartment and row-home segments. We saw 1,234 total sales, which is about 15% lower than last year, but honestly, that lines up pretty closely with what we typically see after the holiday slowdown.

What stood out most wasn’t the overall activity, but where the slowdown happened. Higher-density homes saw the biggest pullback. With more listings hitting the market and buyers having more choice, the urgency we saw last year has cooled a bit. The sales-to-new-listings ratio dropped to 44%, and inventory climbed to 4,391 homes. That’s the highest January level we’ve seen since 2020.

From my perspective, this isn’t a red flag. It feels more like buyers and sellers taking a breath before the spring market kicks into gear.

Detached Homes: Balanced Conditions

Detached homes continue to hold relatively steady. There were 657 sales and 1,243 new listings in January, keeping supply under three months, which is still a fairly balanced environment.

The benchmark price landed around $724,000, down slightly from last month and just over three percent lower than last year. Most of that softening reflects the market shifts we saw in the second half of 2025. Some areas held up better than others, with smaller declines in the west compared to larger adjustments in the northeast.

Semi-Detached: Stable and Steady

Semi-detached homes made up about 10% of overall activity. With 118 sales and 251 new listings, supply increased enough to bring a bit more balance to the segment.

Prices have remained relatively stable, with the benchmark sitting around $667,000, only about one percent lower than last January. Increased inventory is helping create a more predictable environment, which can be a good thing for both buyers and sellers.

Row Homes: More Competition

Row homes felt the pressure of rising supply. Sales dropped nearly 25% year over year, while new listings continued to grow. Months of supply pushed past four months, creating more competition.

Even with that added inventory, prices held steady month-to-month, though they’re roughly five percent lower than this time last year. Competition from new-build product, especially in the northeast and southeast, continues to influence this segment.

Apartment Condos: A Buyer’s Market Emerging

Apartments are where we’re seeing the biggest shift. With 787 new listings and only 273 sales, inventory climbed to 1,435 units, the highest January level ever recorded.

With over five months of supply, prices have continued to adjust. The benchmark price now sits around $301,200, down nearly eight percent year over year. Buyers have more options and more leverage right now, which is changing how this segment behaves compared to the past few years.

What’s Happening Outside of Calgary?

Airdrie saw solid activity despite a slight dip from last year. Inventory levels remain healthy, and prices are around $513,900, roughly five percent lower than last January.

Cochrane experienced a surge in new listings, pushing months of supply up to five months. Prices have softened slightly, with the benchmark at $550,800.

Okotoks continues to struggle with low inventory, which is limiting sales but helping keep prices stable. The benchmark price sits around $599,500, only about two percent lower than last year.

My Take

If there’s one theme from January, it’s balance returning to parts of the market. Detached homes remain relatively steady, while apartments and row homes are moving toward more buyer-friendly conditions. Increased supply means more choice and a little less pressure than we saw at the peak.

As always, the real story depends on the property type, price point, and location. If you’re curious how these trends affect your own plans, let’s connect and talk through it.

After several years of strong price growth, 2025 became a year of transition for Calgary’s housing market.

Strong demand and limited supply defined the early part of the year, but record-high housing starts helped improve supply levels across most segments of the market. At the same time, demand pressures eased due to lower migration levels and ongoing economic uncertainty throughout the spring. Together, these factors shifted the resale market from a clear seller’s market toward more balanced conditions.

Total residential sales in 2025 reached 22,751 units, down 16 per cent from the previous year but still in line with long-term averages. The slowdown was driven primarily by a significant increase in supply. More than 40,000 new listings entered the market, a nine per cent increase year over year, which pushed inventory levels higher and eased competitive pressure.

“Supply levels were expected to rise in 2025, but the growth exceeded expectations, particularly for apartment condominiums and row homes,” said Ann-Marie Lurie, Chief Economist at CREB. “This weighed on prices in those sectors enough to offset annual gains in detached and semi-detached homes. Market conditions varied across the city, with some areas remaining seller-friendly while others shifted in favour of buyers, resulting in different price trends by location, price range, and property type.”

The annual average residential benchmark price in 2025 was $577,492, a two per cent decline from last year. Detached home prices rose by one per cent, while semi-detached homes saw a three per cent increase. In contrast, apartment and row home prices declined by three and two per cent respectively.

The North East district experienced the largest price decline in 2025. While improved supply played a role, it is worth noting that the North East also recorded the strongest price growth over the previous two years.

For the first time in three years, Calgary is heading into the new year with healthier inventory levels.

As we head into the winter months, market conditions in Calgary remain relatively balanced, which is fairly typical for this time of year.

Sales, new listings, and overall activity all slowed in November as expected. We saw 1,553 sales come to market alongside 2,251 new listings. That brought the sales-to-new-listings ratio to 69 per cent, helping absorb some of the inventory that’s been building over the past few months.

That said, inventory is still sitting higher than normal. With 5,581 homes currently on the market, supply is about 28 per cent higher than this time last year and roughly 15 per cent above what we’d typically see in November.

Most of that extra supply is coming from row and apartment-style homes. We’ve seen more choice in these higher-density categories, partly due to new construction that eventually finds its way onto the resale market, especially toward year-end. As a result, apartment and, to a lesser extent, row homes are leaning more toward buyer-friendly conditions.

Detached and semi-detached homes are a different story. Outside of a few specific pockets, those segments remain relatively balanced, with neither buyers nor sellers holding a clear advantage.

Pricing reflects that shift in supply. Apartment and row homes are seeing the biggest pressure, with prices down roughly seven and six per cent year over year. Detached homes are down about two per cent compared to last November, though year-to-date prices are still higher than last year.

Overall, Calgary’s combined residential benchmark price in November came in at $559,000, about five per cent lower than last year.

If you’re wondering how this applies to your specific neighbourhood or property type, that’s where the real story usually lives. Every segment and location behaves a little differently.

Tyler