Mid Year 2025 Calgary Real Estate Market Update: What Buyers and Sellers Need to Know

Calgary Real Estate Market at the Halfway Point of 2025

As we reach the midpoint of the year, Calgary’s real estate market is shifting. After two years of extreme seller conditions, the Spring 2025 update from CREB® shows a move toward more balanced territory. While economic uncertainty, tariffs, and energy market volatility have slowed sales, population growth and strong job numbers continue to support overall housing demand.

Let’s break down what’s happening in Calgary and surrounding markets by property type and region, and what it means for both buyers and sellers.

Calgary Economic Outlook and Housing Overview

Tariffs on steel and aluminum and global inflation fears have cooled activity. While Alberta leads the country in growth, Calgary saw sales decline more than expected in early 2025. Inventory has increased, especially in higher density and rental focused developments. Still, compared to long term averages, inventory levels remain fairly normal.

Balanced conditions mean prices are stabilizing. Detached homes in certain price ranges and districts are still seeing gains, while row homes and condos face downward price pressure.

Key Market Stats: Inflation, Interest Rates, and Migration

Inflation: 1.7% as of April 2025
Interest Rate: 2.75% in April, expected to decline to 2.25% by year-end
WTI Oil Price: USD $72 per barrel (June 2025)
Net Migration: 41,880 expected for Alberta in 2025
Unemployment: Steady, with employment levels remaining stable in Calgary

These numbers suggest ongoing support for housing demand, even amid slower economic momentum.

New Construction and the Calgary Rental Market

A record wave of apartment and townhome construction is underway, aimed mostly at the rental market

42% of 2025 starts were rental
14,473 apartment units currently under construction
Rental vacancies are rising, with downward pressure on asking rents

This is creating competition for resale condos and row homes, especially in newer communities, and may lead to more price softness in those segments.

Detached Homes Market Update: Prices Holding in Select Areas

Detached homes remain the most sought after product in Calgary. Inventory has doubled year over year, especially for homes over $600,000. However, the market is still tight for homes under $700,000 in districts like the North West and South.

May 2025 Citywide Benchmark Price: $769,400
Months of Supply: 2.2
Sales-to-New Listings Ratio: 56%

Sellers in the North East and North may face price pressure, particularly for homes over $700,000. In contrast, areas like the West and City Centre continue to show strength in premium price ranges.

Semi-Detached Homes: Slower Sales, Stronger Prices in Select Areas

Semi-detached homes make up only 9% of sales citywide, but are holding value well in specific districts.

May 2025 Citywide Benchmark Price: $697,300
Year-over-Year Change: +2.9%
Inventory: Up 83% from last year

The City Centre has high end inventory with slower absorption. Homes priced above $1 million are sitting longer. However, more affordable semis in outer districts are still moving quickly.

Row Housing Trends in 2025: Balanced Market Emerging

Sales of row homes have dipped but are still above historical norms. The biggest inventory increases have occurred in higher priced units, leading to more balanced or even buyer favoured conditions in some areas.

May 2025 Benchmark Price: $453,600
Year-over-Year Change: -1.9%
Inventory: Up 148% year over year
Tightest Market: City Centre
Softest Market: North East

Expect modest or negative price movement unless located in a district with high demand and limited new construction competition.

Apartment and Condo Market Shifts: Inventory Up, Prices Softening

The surge in purpose built rental apartments is impacting resale condos, especially in entry level price ranges.

May 2025 Benchmark Price: $335,300
Year-over-Year Change: -1.5%
Sales: Down 31%
Inventory: Up 93%
Months of Supply: 3.3

The North East is in buyer’s market territory. Still, year-over-year prices remain 16% higher than in May 2023, despite being 3% off their peak.

Real Estate Insights from Calgary’s Surrounding Communities

Neighbouring towns show diverse market conditions

Airdrie: Balanced at 2.5 months of supply, prices up 0.8%
Cochrane: Slightly stronger with 2.5 months of supply, prices up 5%
Okotoks: Tight inventory (1.8 months), prices hit record highs
Chestermere: Balanced market with strong supply growth, prices still rising
High River: Remains a strong seller’s market with just 1.8 months of supply
Strathmore: Inventory up 126%, but still tighter than normal
Canmore: Prices up 12%, inventory stable, tourism continues to drive demand

If you’re looking for growth, Okotoks, Cochrane, and High River offer ongoing price appreciation. Sellers in Chestermere and Strathmore will need to price strategically as competition increases.

Should You Buy or Sell in Calgary Right Now?

The Spring 2025 update makes one thing clear, the market is not collapsing, but it is changing. Sellers should be aware of growing competition and price sensitivity in many property segments. Buyers now have more choice and potentially better negotiating power, especially for condos and row homes.

Detached homes under $700,000 remain hot, and high quality listings in all categories still move fast if priced right.

Ready to Buy or Sell a Home in Calgary?

Whether you’re looking to buy your first home, upgrade to a new one, or sell your current property, I’m here to help make the process simple and stress free. Get expert guidance, local insights, and personalized support at every step. Reach out today for honest advice and proven results in Calgary’s real estate market.