The Spring 2025 housing market update from CREB® confirms what many Calgary buyers and sellers are already experiencing—demand is red hot, and inventory is struggling to keep up. With price growth showing no signs of slowing and migration fueling competition, now more than ever, strategic real estate advice is crucial. Here's what you need to know.

1. Calgary’s Market Momentum Is Strong

Calgary remains one of Canada’s fastest-growing cities, with population growth projected to top one million households by 2046. This demand surge continues to push sales up in the face of limited listings, especially in the detached, row, and semi-detached sectors.

• Sales rose 13% year-over-year in the first quarter of 2025.

• New listings only increased by 9%, intensifying competition.

• Months of supply remained below two, keeping conditions firmly in seller’s territory.

2. Price Growth Driven by Supply Constraints

Despite affordability advantages over cities like Toronto and Vancouver, Calgary is seeing record-breaking prices due to sustained low inventory. The benchmark price reached $580,700, a 9.6% year-over-year increase.

• Detached homes: $717,100, up 12%.

• Row homes: $447,900, up nearly 20%.

• Apartments: $324,000, up 13%, but growth has cooled due to increased supply.

3. Regional Snapshot: Markets Near Calgary Stay Hot

The surrounding areas saw similar dynamics, with most regions reporting increased sales and price gains.

• Airdrie: Sales rose 28%; inventory remains tight.

• Cochrane: Prices up 11% year-over-year, led by detached homes.

• Chestermere & Okotoks: Sales increased, though at a slower pace; semi-detached and row sectors are especially popular due to relative affordability.

4. Migration and Jobs Fuel Housing Pressure

Net migration remains a key market driver, bolstered by strong job growth. With unemployment dropping to 6.5% in Q1 2025, new Calgarians are quickly entering the home-buying market, particularly those seeking entry-level or mid-range properties.

5. What Buyers and Sellers Should Know This Spring

• For Buyers: Expect ongoing competition, especially under $700K. Pre-approvals and flexible terms can help you move fast in multiple-offer scenarios.

• For Sellers: Well-priced and well-presented homes are selling quickly. Strategic pricing is key to generating interest while maximizing returns.

• For Investors: Row homes and duplexes remain strong performers with attractive rental yields and lower price points than detached properties.

Final Thoughts: Strategy Is Everything in Spring 2025

The Spring 2025 market offers opportunity—but only for those prepared to act quickly and strategically. Whether you're planning to buy, sell, or invest in Calgary or the surrounding areas, the current conditions demand expertise and guidance.

📩 Want a detailed breakdown of how these trends impact your specific property or neighborhood?
Contact Me Today!

Source CREB.com

As we wrapped up the first quarter of 2025, Calgary’s housing market continued to show signs of shifting toward more balanced conditions. March brought a mix of increased inventory, stable pricing, and softer sales activity, giving both buyers and sellers more to consider as the spring market unfolds.

Calgary: More Options for Buyers as Market Cools

In March, Calgary recorded 2,159 residential sales, a 19% year-over-year decline. Higher-density housing types like apartment condos were the most affected, but the decrease was felt across all categories.

Despite this, new listings surged by 27%, reaching 4,019. This brought inventory up to 5,154 units—more than double what was available last year at this time. The sales-to-new-listings ratio dropped to 54%, and months of supply rose to 2.4. These shifts point to a transition from the tight seller's market we’ve seen over the past four years into a more balanced one.

Prices, however, remained resilient.

• The benchmark price for all residential types: $592,500 (unchanged from February, up 9% YoY)

• Detached homes: $727,700

• Semi-detached: modest month-over-month growth

• Row homes and apartments: stable year-over-year, slight dip from February

Surrounding Areas: Inventory Gains Vary, Prices Holding

While Calgary itself is shifting toward balance, surrounding communities show a mixed picture. Here's a snapshot of how key regional markets performed:

Airdrie

• 160 sales in March

• Q1 total: 395 sales (down 11% YoY)

• New listings up, inventory at 398 units

• Sales-to-new-listings ratio: 57%

• Detached benchmark price: $651,300 (up over 2% YoY)

Cochrane

• 95 sales in March

• Sales slightly ahead of Q1 2024

• Inventory up, months of supply: 2.6

• Detached benchmark price: $686,800 (record high, 5% YoY increase)

Okotoks

• 53 sales in March

• Q1 total: 129 (down from 155 last year)

• Inventory remains low, despite more listings

• Detached benchmark price: $715,500 (new record, 5% YoY increase)

Chestermere

• March sales improved, but Q1 down 28% YoY

• Inventory up, months of supply: 5.4

• Detached benchmark price: $748,400 (up 3% YoY)

What This Means for You

The Calgary region is showing signs of rebalancing after years of tight conditions. If you're a buyer, this spring may offer more breathing room, especially in Calgary and Chestermere. If you're a seller, proper pricing and strong marketing will be key, as buyers have more choice and negotiating power.

That said, some smaller markets like Okotoks and Cochrane remain highly competitive—especially for well-priced detached homes under $700,000.

Whether you're buying, selling, or just keeping an eye on the market, the landscape is evolving. Curious how your community is performing? Reach out any time—I'm happy to help you make sense of it all.

Source CREB.com

In February 2025, Calgary's housing market experienced notable shifts, reflecting a transition toward more balanced conditions. While sales activity remained above historical averages, there was a discernible decline compared to the previous year, accompanied by significant growth in inventory levels.

Sales and Inventory

The city recorded 1,721 sales in February, marking a 19 per cent decrease from the same month last year. Despite this decline, sales figures remained higher than long-term trends for February. New listings increased by approximately six per cent year-over-year, reaching 2,830 units. This influx contributed to a substantial 76 per cent rise in inventory levels, totaling 4,145 units. Consequently, the months of supply—a measure of market balance—stood at 2.4 months, more than double the figure from February 2024. 

Alan Tennant, President and CEO of the Calgary Real Estate Board (CREB®), commented on these developments: "Even though more people listed their homes for sale, there were actually fewer sales than in February 2024. So, we’re seeing the seller’s market of the past two or three years ease off."

Benchmark Prices

The unadjusted benchmark price for total residential properties in Calgary was $587,600 in February, reflecting a modest one per cent increase from the previous year. Price trends varied across different property types:

• Detached Homes: The benchmark price rose to $760,500, a five per cent year-over-year increase. Notably, the City Centre district experienced the most significant growth, with prices climbing nearly eight per cent. 

• Semi-Detached Homes: Prices reached $683,500, up nearly seven per cent from February 2024. The City Centre and South districts led this growth, each recording approximately eight per cent increases. 

• Row/Townhouses: The benchmark price stood at $446,800, marking a three per cent rise year-over-year. The East district experienced a notable 12 per cent increase compared to 2024. 

• Apartment Condominiums: Prices averaged $334,200, reflecting a four per cent increase from the previous year. The West district saw the largest price growth in this segment, exceeding eight per cent.

Market Dynamics by Property Type

• Detached Homes: Sales decreased by 20 per cent year-over-year to 765 units. New listings grew by six per cent, resulting in a 61 per cent increase in inventory levels to 1,698 units. Months of supply improved across all districts, with the City Centre and North East trending toward balanced conditions, while the South and North West remained supply-constrained at approximately 1.6 months.

• Semi-Detached Homes: Sales declined by nearly 14 per cent to 165 units, while new listings rose by seven per cent to 240 units. This disparity led to a 46 per cent increase in inventory. Months of supply varied significantly across the city, from one month in the North West to eight months in the East district. 

• Row/Townhouses: Despite a nine per cent drop in sales to 318 units, new listings increased by almost four per cent. Inventory levels more than doubled to 655 units, though they remained below historical averages for February. The South and East districts had the tightest conditions, with under 1.5 months of supply, while the North East had nearly three months. 

• Apartment Condominiums: Sales fell by 26 per cent to 473 units but remained above long-term averages for February. New listings were relatively stable year-over-year at 852 units, the highest on record for the month. This led to a 90 per cent increase in inventory, pushing months of supply to 3.1 months—still below record levels observed between the 2014 oil crash and the pandemic. 

Regional Market Highlights

• Airdrie: Sales declined by nearly nine per cent to 123 units. New listings increased by nearly 23 per cent to 225 units, doubling inventory levels to 345 homes. The benchmark price was $537,600, 1.6 per cent higher than in February 2024.

• Cochrane: Sales reached 75 units, with new listings at 126 units, both above long-term averages. Inventory rose by over 48 per cent year-over-year to 196 units. The benchmark price increased by over five per cent to $577,100. 

• Okotoks: Sales saw a four per cent year-over-year decline to 45 units. New listings increased by seven per cent compared to 2024, totaling 60 units. Inventory recovered to 69 units, 19 per cent above 2024. The benchmark price was relatively flat compared to January and under one per cent higher than in 2024. 

Final Thoughts: A Market in Transition

February 2025 marked a noticeable shift in Calgary’s housing market dynamics. While sales remained above long-term trends, the increase in inventory and moderation in price growth indicate a cooling from the intense seller’s market of previous years. Detached and semi-detached homes continue to see price appreciation, while row and apartment-style properties are experiencing a more gradual upward trend.

For buyers, the growing inventory and easing market conditions may present opportunities, especially in segments where months of supply are increasing. For sellers, strategic pricing and well-prepared listings will be key to standing out in a more balanced environment.

As Calgary’s real estate landscape continues to evolve, staying informed is crucial for making well-timed decisions. Whether you're buying, selling, or simply watching the market, working with an experienced real estate professional ensures you navigate these changes with confidence.

Source CREB.com

A Shift Toward Balance in the Market?

As we step into 2025, Calgary’s real estate market continues to evolve, showing signs of increased inventory and a more balanced environment compared to last year. While the market remains active, rising inventory levels and a slight cooling in demand suggest a shift from the ultra-competitive conditions seen in previous months.

January 2025 kicked off with a notable increase in new listings, giving buyers more options across different property types. However, prices have held steady, reflecting the continued demand for housing in Calgary and surrounding areas. Despite this, affordability concerns, economic factors, and interest rate movements continue to play a role in shaping buyer and seller behavior.

In this market update, we’ll break down key statistics, trends across property types, and regional highlights to help you stay informed on Calgary’s real estate landscape. Whether you’re a homebuyer, seller, or investor, understanding these trends will help you make smart decisions in the months ahead.

Market Overview: Inventory on the Rise

January saw 1,451 sales across the Calgary region, a 12% decline year-over-year, but still above long-term January trends. The most significant shift came in new listings, which surged to 2,896 units, creating a sales-to-new-listings ratio of 50%. This influx brought inventory levels to 3,639 units, improving buyer choice but keeping the market competitive.

Sales & Inventory Trends Over the Past 12 Months

 Sales, new listings, and inventory changes over the past year:

Benchmark Prices: Holding Strong Amid More Listings

Despite more inventory, Calgary’s total residential benchmark price increased to $583,000, reflecting a stable market with slight appreciation (+3% YoY). Detached homes saw the strongest growth, while apartment condos also continued their steady rise.

Benchmark Price Comparisons Across the Calgary Region

 A look at benchmark prices in different areas as of January 2025:

Property Type Performance: What’s Selling?

The Calgary market remains dominated by detached homes, which accounted for 47% of total sales in January. Apartments followed closely, making up 33% of sales, while row homes and semi-detached properties held smaller shares.

Sales Breakdown by Property Type

 Which property types saw the most activity in January?

Property Type Highlights

• Detached Homes: Benchmark price $750,800 (+7.0% YoY), 674 sales.

• Semi-Detached Homes: Benchmark price $673,600 (+8.3% YoY), 112 sales.

• Row Homes: Benchmark price $400,500 (+6.5% YoY), 186 sales.

• Apartments: Benchmark price $444,900 (+4.8% YoY), 479 sales.

Who’s Buying? Sales by Price Range

The majority of January’s transactions occurred between $400K-$600K, reflecting strong demand for mid-range properties. Higher-priced homes above $1M had the fewest sales, while entry-level homes below $250K also saw limited activity due to affordability challenges.

Residential Sales by Price Range

 Which price ranges were most popular?

Regional Market Highlights

Beyond Calgary, the surrounding regions also experienced strong sales activity, particularly in Airdrie, Cochrane, and Chestermere. Here’s a breakdown of the key stats:

Airdrie

• Sales: 112

• Benchmark Price: $537,300 (+3.6% YoY)

• Months of Supply: 2.63
   Airdrie continues to see steady demand, with improving inventory giving buyers more choice.

Cochrane

• Sales: 71

• Benchmark Price: $565,900 (+4.3% YoY)

• Months of Supply: 2.20
   Cochrane’s prices continue to climb, with sales remaining strong despite higher inventory levels.

Chestermere

• Sales: 56

• Benchmark Price: $694,300 (+5.0% YoY)

• Months of Supply: 2.77
   New listings are increasing in Chestermere, but prices remain on an upward trend.

Okotoks

• Sales: 48

• Benchmark Price: $692,500 (+5.8% YoY)

• Months of Supply: 2.06
   Low inventory continues to drive price appreciation in Okotoks.

Canmore

• Sales: 18

• Benchmark Price: $1,606,700 (+6.0% YoY)

• Months of Supply: 5.06
   The luxury market in Canmore remains competitive, with high demand from affluent buyers.

High River

• Sales: 26

• Benchmark Price: $555,900 (+5.4% YoY)

• Months of Supply: 2.35
   High River’s housing market is balanced, with steady growth in home values.

Strathmore

• Sales: 28

• Benchmark Price: $538,400 (+5.3% YoY)

• Months of Supply: 2.68
   Strathmore’s market remains stable, with moderate price increases.

Final Thoughts: What’s Next for Calgary’s Real Estate Market?

The January 2025 market update reveals growing inventory levels while prices remain stable or rising across most property types. Buyers now have more options, but demand remains strong enough to keep home values appreciating at a healthy pace.

If you’re a buyer, this might be the right time to explore options before demand picks up again in the spring.
If you’re a seller, positioning your home competitively and leveraging a strong marketing strategy will be key in this evolving market.

Need expert advice on buying or selling in this shifting market? Get in touch with me today!

Source CREB.com