After several years of rapid price growth, 2025 became a transition year for Calgary’s housing market, moving away from extreme seller-favouring conditions and toward a more balanced landscape.
This shift was driven by two key forces happening at the same time:
- Improved supply, supported by record-high housing starts
- Moderating demand, as migration levels slowed and economic uncertainty affected buyer activity during the spring market
As a result, buyers and sellers experienced very different conditions depending on property type, price range, and location.
Big Picture: Sales, Listings & Prices
- Total sales in 2025: 22,751 homes
→ Down 16% year-over-year, but still in line with long-term norms - New listings: Over 40,000
→ Up 9% from last year - Market conditions: Shifted from a strong seller’s market to more balanced overall
The increase in supply played a major role in easing price pressure, particularly in row homes and apartment condominiums, while detached and semi-detached homes continued to show modest price growth.
The average residential benchmark price across all property types in 2025 was $577,492, about 2% lower than last year.
Price Trends by Property Type
Detached Homes
- Sales: 11,328 (down nearly 9%)
- Benchmark price: $752,767 (up 1%)
Detached homes saw slowing sales across all districts, but pricing trends varied:
- North East & East: Price declines due to rising inventory
- City Centre: Continued price growth (over 3%) as supply remained tight
By the second half of the year, detached homes citywide settled into balanced conditions.
Semi-Detached Homes
- Sales: 2,159 (down 8%)
- Benchmark price: $685,850 (up nearly 3%)
This segment took longer to cool, which supported stronger price growth:
- City Centre: Prices rose about 4%
- North: Slight price declines due to competition from new builds
Semi-detached homes remain a smaller but resilient segment of the market.
Row Homes
- Sales: 3,838 (down 17%)
- Benchmark price: Down 2%
Despite lower sales, row homes now represent a larger share of overall market activity. Increased listings helped rebalance conditions early in the year, with some districts shifting toward buyer-favouring territory by year-end.
- Stable pricing: City Centre, North West, West, East
- Declines (≈4%): North East & North, due to added supply and new-home competition
Apartment Condominiums
- Sales: Down 28% year-over-year
- Benchmark price: Down nearly 3%
Apartments experienced the largest adjustment in 2025. While sales dropped significantly, they still remained well above long-term averages.
A major factor was increased supply, including:
- Growth in apartment-style construction
- More purpose-built rentals adding choice for buyers
By mid-year, most districts had clearly shifted into buyer-favouring conditions, with the steepest price declines seen in the North East (nearly 5%).
The West district was the only area to maintain relative price stability.
District Highlights
- North East Calgary:
Saw the largest price declines in 2025, following two years of strong gains. Increased supply played a major role. - Inventory Levels:
For the first time in three years, Calgary is entering the new year with healthier inventory, creating more options for buyers.
Looking Ahead to 2026
With improved inventory levels and more balanced conditions across many segments, 2026 is shaping up to be a very different market than the past few years.
