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