Thinking of Buying a Home in Calgary or Airdrie? Here’s What You Can Actually Get for $500K

If you're house hunting in Alberta with a $500,000 budget, you might be wondering:

Do I stay in Calgary—or could I get more by moving to Airdrie?

As a REALTOR® who helps clients buy in both cities, I can tell you firsthand:

That $500K can look very different depending on where you spend it.

Let’s break it down.

🏙️ What $500K Gets You in Calgary

In Calgary, $500,000 is a solid budget—but you’re likely looking at a condo or townhome.

Here’s what you might get:

• 2–3 bedrooms, 1.5–2 bathrooms

• 900–1,200 sq. ft.

• Underground parking or small attached garage

• Likely in outer suburbs or older infill communities

• Limited yard space

While you’ll benefit from Calgary’s urban amenities, public transit, and proximity to work or school, you’ll likely sacrifice space, privacy, and outdoor access—especially in high-demand neighbourhoods.

🏡 What $500K Gets You in Airdrie

Drive just 30 minutes north, and your $500,000 can go a lot further.

In Airdrie, you could afford:

• A detached home

• 3–4 bedrooms, 2.5 bathrooms

• ~1,400–1,700+ sq. ft.

• Double attached garage

• Private yard space

• Quiet residential neighbourhoods, often with walking paths, playgrounds, and schools nearby

Airdrie has seen major growth in the past decade, but it still offers excellent value for buyers looking for more space, newer homes, and a family-friendly vibe—all within a short commute to Calgary.

📍 Calgary vs Airdrie: Key Differences

🏁 So, Which One’s Right for You?

That depends on your lifestyle:

• Calgary might be right for you if you prioritize proximity to work, public transit, inner-city culture, or walkability.

• Airdrie is ideal if you’re looking for more house, more space, and a family-friendly community—without blowing your budget.

🏡 Ready to Compare Real Listings?

As a Calgary-based REALTOR® who also serves Airdrie, I’d love to show you what’s currently available in both cities—tailored to your budget and wish list.

📩 DM me the word “COMPARE” or reach out here and I’ll send you a personalized list of homes under $500K in Calgary and Airdrie.

Calgary Real Estate Market Update – May 2025
Balanced Inventory, Steady Prices, and Strategic Opportunity for Both Buyers and Sellers

As we head into the summer months, Calgary’s real estate market continues to show signs of stabilization. According to the latest CREB® Market Report for May 2025, the city’s housing market is experiencing a return to more balanced conditions—welcoming news for both buyers and sellers navigating a shifting landscape.

Inventory on the Rise, But Below Long-Term Averages

May saw a 38% year-over-year increase in inventory levels, with 4,404 properties available across all sectors. While this marks a significant gain from last year’s ultra-tight conditions, supply still remains 29% below long-term May averages. Buyers now have more choice, but sellers continue to benefit from a competitive marketplace, especially in the lower to mid-price ranges.

Sales Slowing, But Still Above Normal

Sales activity cooled slightly compared to earlier in the year, with 3,092 homes sold in May. That’s down 5% from last month but still 34% higher than long-term trends for May. Detached homes remain the most active sector, accounting for nearly half of all transactions, particularly in the $600K–$700K price range.

Prices Hold Steady, Growth Slowing

Calgary’s benchmark residential price in May reached $595,800, up 0.6% from April and 8.3% from May 2024. While annual price growth is still positive, the pace has clearly moderated. Detached homes hit a benchmark of $746,300, up 10.6% year-over-year, while semi-detached and row properties posted moderate annual gains of 8.2% and 15.6% respectively.

The apartment sector saw the smallest annual price growth at 13.3%, suggesting this segment may be plateauing after months of rapid gains.

New Listings Trend Upward

With 4,333 new listings in May—an 18% increase from April—many homeowners appear to be timing the market to take advantage of still-strong prices. The sales-to-new-listings ratio sat at 71%, indicating solid demand but also slightly reduced urgency compared to earlier months.

Months of Supply Increasing, Signaling Balance

The months of supply edged up to 1.43, the highest level since 2023. While still a seller-favoured market by definition, this shift points to better conditions for buyers, especially those who have been waiting on the sidelines for more selection.

What This Means for You

• Sellers: Strategic pricing is more important than ever. With more inventory coming to market, buyers have options—making presentation, marketing, and negotiation critical to securing top dollar.

• Buyers: Increased supply means less pressure and more time to make informed decisions. However, desirable homes in prime neighbourhoods are still moving quickly—don’t wait too long.

• Investors: Rental demand remains high, particularly in the apartment and row home sectors. Slight cooling in price growth offers room for acquisition in emerging areas.

Final Thoughts

Calgary’s housing market in May 2025 reflects a transition—not a downturn. With a growing population, relatively low inventory, and steady demand, the fundamentals remain strong. Whether you’re planning to buy, sell, or invest, staying informed and working with a trusted professional can help you navigate these evolving market conditions confidently.

Want a detailed breakdown of how this affects your specific property or neighbourhood?
📩 Contact Me Today for a personalized market update.

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