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

Kristen Edmunds is a Calgary-area REALTOR® and Associate Broker with KIC Realty, specializing in acreages, luxury homes, and smart buy/sell strategies. With expertise in rural properties (water wells, septic, equestrian facilities) and a client-obsessed approach, Kristen helps buyers and sellers achieve their real estate goals with confidence and ease.

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

Kristen Edmunds is a Calgary-area REALTOR® and Associate Broker with KIC Realty, specializing in acreages, luxury homes, and smart buy/sell strategies. With expertise in rural properties (water wells, septic, equestrian facilities) and a client-obsessed approach, Kristen helps buyers and sellers achieve their real estate goals with confidence and ease.