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
