Calgary Housing Market Outlook 2025
Table of contents
Calgary Market Report Summary
- The average selling price of a home in Calgary increased by 0.4% year-over-year to $583,000 in April 2025.
- The average selling price of a single-family home in Calgary increased by 2.8% year-over-year to $696,800 in April 2025.
- The average selling price of a townhouse/multiplex in Calgary increased by 0.7% year-over-year to $465,200 in April 2025.
- The average selling price of a condo in Calgary increased by 0.6% year-over-year to $343,100 in April 2025.
- The average rent in Calgary decreased by 9.0% year-over-year to $1,903 for April 2025.
- June 12, 2025: Today’s lowest mortgage rate in Calgary is
for a 5-year fixed.
Composite Home Prices
The average selling price of a home in Calgary was $583,000 for the month of April 2025, that’s decreased by 0.1% compared to the previous month. On a year-over-year basis, Calgary home prices have increased 0.4% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Calgary was $696,800 for the month of April 2025, that’s decreased by 0.1% compared to the previous month. On a year-over-year basis, single-family home prices in Calgary have increased by 2.8% over the last 12 months.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Calgary was $465,200 for the month of April 2025, that’s increased by 0.9% compared to the previous month. On a year-over-year basis, the price of a townhouse in Calgary has increased by 0.7% over the last 12 months.
Condo Prices
The average selling price of a condo in Calgary was $343,100 for the month of April 2025, that’s increased by 0.3% compared to the previous month. On a year-over-year basis, the price of a condo in Calgary has increased 0.6% over the last 12 months.
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Calgary Housing Market Summary
Data from the Calgary Real Estate Board (CREB) indicates that the average price of resale residential homes sold across Calgary in April 2025 was $583,000, and it increased of 0.4% compared to a year ago.
CREB also reported a sales-to-new-listings ratio (SNLR) of 55%, indicating a balanced market in Calgary for April 2025.
Calgary Transitions to Balanced Market as Inventory Climbs and Sales Cool
According to the Calgary Real Estate Board (CREB) for April 2025, Calgary’s housing market is undergoing a meaningful shift as rising supply and cautious buyer sentiment continue to moderate both sales activity and price pressure. Sales declined 22% year-over-year to 2,236 units, while new listings rose nearly 16% to 4,038. This lifted inventory to 5,867 units, more than double last year’s level, bringing months of supply to 2.6 and solidifying Calgary’s return to a balanced market.
Calgary Home Sales Slump Offsets Strong Start to Year
April’s 22.4% decline in year-over-year sales reflects the impact of rising economic uncertainty, particularly from the ongoing trade war and tariff-related concerns. However, CREB notes that overall activity remains above pre-pandemic norms, thanks to prior gains in migration, stable employment, and improving supply conditions.
- April sales: 2,236 (↓ 22.4% YoY)
- New listings: 4,038 (↑ 15.7% YoY)
- Sales-to-new listings ratio (SNLR): 55% (balanced market)
- Inventory: 5,867 (↑ 116% YoY)
- Months of inventory: 2.6 (balanced)
Home Prices Cool in Calgary
The benchmark price for a home in Calgary dipped 1.4% year-over-year and 0.2% from March to $591,100, the first annual drop since 2020. Median prices, however, continued to show modest growth, rising 4.2% annually to $590,000, indicating that most of the softness is occurring at the higher end of the market due to changing buyer preferences.
- Average price: $646,743 (↑ 6.3% YoY, ↑ 1.1% MoM – record high)
- Benchmark price: $591,100 (↓ 1.4% YoY, ↓ 0.2% MoM)
- Median price: $590,000 (↑ 4.2% YoY, ↑ 0.9% MoM)
Calgary Home Sales and Activity Trends by Property Type
Detached Home
Detached home sales dropped 16.6% to 1,102 units, but prices remained relatively firm, rising 2.4% year-over-year to $769,300. Conditions remain tight in lower price segments, while higher-end homes are experiencing slower turnover.
- Inventory: 2.3 months
- Benchmark price: $769,300 (↑ 2.4% YoY, ↓ 0.1% MoM)
- Median price: $725,000 (flat YoY, ↓ 1% MoM)
Semi-Detached Homes
Semi-detached home sales declined 25% year-over-year to 190 units, while the benchmark price rose 3.6% to $691,700. The median price slipped 1.2% annually to $620,500.
- Inventory: 2.6 months
- Benchmark price: $691,700 (↑ 3.6% YoY, ~ flat MoM)
Row Houses
Row and townhome sales fell 27% year-over-year to 355 units, while the benchmark price edged up just 0.5% annually to $457,400. Median prices rose 1.6% YoY and 3.3% MoM to $470,000.
- Inventory: 2.8 months
- Benchmark price: $457,400 (↑ 0.5% YoY, ↑ 0.7% MoM)
Apartment Condominiums
The most significant sales drop occurred in the condo segment, down 28% YoY to 589 units. Benchmark pricing remained flat annually at $336,000, while median prices fell 0.8% YoY to $327,500.
- Inventory: 3.2 months
- Benchmark price: $336,000 (flat YoY, flat MoM)
Calgary Regional Markets Highlights
- Airdrie: Sales declined but remain above long-term trends. Inventory is returning to normal, with 2.3 months of supply, and the benchmark price is now at $544,700 (flat YoY).
- Cochrane: Inventory up, but prices reached a new high of $592,000 (↑ ~6% YoY).
- Okotoks: Sales are down, but tight inventory continues to support a benchmark price of $627,100 (↑ 2% YoY).
Calgary’s housing market has clearly shifted to a more balanced footing as inventory rebuilds alongside higher borrowing costs, combined with geopolitical uncertainty, takes the urgency out of buying. While prices are softening slightly, particularly in higher-density segments, stronger fundamentals, stable employment, and normalized inventory levels are helping prevent a steeper correction.
Month-over-Month Market Expectations for Calgary
Transactions – Number of Sales
The number of sales in Calgary was 2,235 during April 2025, that’s increased by 3.6% compared to the previous month. On a year-over-year basis, sales in Calgary have decreased by 22.3% over the last 12 months.
New Listings
The number of new listings in Calgary was 4,038 during April 2025, that’s increased by 0.4% compared to the previous month. On a year-over-year basis, new listings in Calgary have increased by 15.7% over the last 12 months.
Real Estate Market
The sales to new listings ratio (SNLR) in Calgary was 55% during April 2025, indicating a balanced market. On a monthly basis, that’s increased by 3.2% compared to the previous month. Calgary’s yearly sales to new listings ratio has decreased by 32.8% over the last 12 months.
The sales to new listings ratio (SNLR) measures the number of home sales compared to new listings. An SNLR under 40% suggests a buyer’s market in which buyers have the upper hand and more negotiating power. An SNLR between 40% and 60% is a balanced market, while an SNLR of over 60% is considered a seller’s market.
Annual Changes to Composite Home Prices in Calgary
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Calgary Market Rents Summary
The average rent in Calgary was $1,903 for the month of April 2025, which decreased by 9.0% on a year-over-year basis.
The average rent for a bachelor apartment in Calgary was $0 for the month of April 2025, which 0 by 0% on a year-over-year basis.
The average rent for a 1-bedroom apartment in Calgary was $1,683 for the month of April 2025, which decreased by 9.0% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Calgary was $2,080 for the month of April 2025, which decreased by 9.0% on a year-over-year basis.
The average rent for a 3-bedroom apartment in Calgary was $1,683 for the month of April 2025, which decreased by 9.0% on a year-over-year basis.
How Does Renting Compare with Homeownership in Calgary?
Each $100,000 in mortgage balance costs an average of $533.43 per month on nesto’s lowest fixed 5-year rate at
Rates used for calculation are those offered on insured purchases with less than a 20% downpayment on a 25-year amortization. Canada’s policy rate is
Rental Price Changes by City
Rental Price Changes by Province
Rental Price Growth by Housing Type
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Frequently Asked Questions on Calgary Housing Market Outlook for 2025
Will Calgary home prices rise in 2025?
Calgary’s housing market is expected to see steady price increases in 2025 due to strong population growth and relatively affordable home prices.
Is Calgary a good place to buy in 2025?
Calgary remains a top option for buyers seeking affordable housing and substantial investment opportunities, especially for single-family homes.
Will mortgage rates improve affordability in Calgary?
Easing mortgage rates will enhance affordability, encouraging more buyers to act in 2025.
Is Calgary’s housing market stable?
Calgary’s market is stable, with increasing demand and steady price growth expected through 2025
How affordable are homes in Calgary compared to other cities?
Calgary remains significantly more affordable than cities like Toronto or Vancouver, making it attractive for buyers.
Housing Market Glossary and Definitions
MLS® Home Price Index (HPI)
The MLS® Home Price Index (HPI) is a real estate price index compiled by the Canadian Real Estate Association (CREA) that tracks the price of homes in your neighbourhood. It’s a quick way for Canadians to compare home prices in different parts of Canada and between different periods without having to factor in the unique characteristics of a particular property.
While market prices can vary from one month to the next based on seasonal factors, the Home Price Index (HPI) provides a more consistent view and tracks price trends over an extended period. The Home Price Index (HPI) is updated annually in May to reflect changes in real estate markets.
MLS® HPI is the most comprehensive and precise way to track a neighbourhood’s home price level and trends. MLS HPI uses over 15 years of data from the MLS® System and advanced statistical models to create a “typical” home based on the characteristics of homes purchased and sold. This benchmark home is tracked across all Canadian neighbourhoods and various types of homes.
Strata insurance
Strata insurance is insurance that a strata or condominium uses to cover damages to common areas, assets and liabilities to the strata. It can also include fixtures built or installed as part of the original construction of each unit, even though these may not be common structures. Strata insurance can cover the following:
- Buildings and structures on the strata’s property, including common areas such as the garage, roof, lobby, pool, etc.,
- Liabilities for any property damage or bodily harm due to an injury suffered on a strata property,
- Which also includes fixtures in the standard unit or part of the original make of each unit.
Strata insurance generally does not cover personal belongings and appliances in a condo unit. Damage caused by individual unit owners (e.g., water damage due to a unit owner’s negligence) is typically covered under personal condo insurance.
Property Types
Detached homes, also known as single-family homes, are residential properties that stand alone and are not connected to other buildings. They are legal single residential units on their own parcel of land and have a separate title.
Semi-detached homes are characterized by their unique architectural design. Two houses are built side by side and share a common wall. Although sharing a building, semi-detached homes have their own parcel of land and separate legal titles.
Townhouses are residential dwellings typically characterized by narrow, tall structures, often sharing walls with neighbouring units. Although they may share yards or common elements with their neighbours, townhouses will have separate legal titles from any adjoining building. Townhouses can be purchased as freehold or leasehold within a condo or strata and may come with their own land parcel. Townhouses can be part of a low-rise or high-rise building.
Condo apartments, also known as condominiums, are residential properties that combine elements of apartments and individual homes. It is a unit within a larger building or complex owned by an individual who also shares ownership of common areas and amenities with other residents. Condo apartment owners have legal ownership of their units and can modify them within the guidelines set by the condominium association. Unlike a townhouse, condos do not offer exclusive use of outdoor space unless they come with a balcony or terrace. Condos can be part of a low-rise or high-rise building.
Plexes or multiplexes are unique residential buildings constructed into 2 to 6 units within a single structure. Traditionally, they have been designed as low-rise residential buildings where any unit is accessible via an external entrance with higher floors connected by staircases. Each unit will have a separate registration and title but may share common elements and co-ownership fees with the other multiplex owners. Plexes are common in Québec and older parts of Toronto.
Property Ownership Classes
A freehold is a type of property ownership where an individual or entity has complete and indefinite ownership rights over a property and its parcel of land. Common freehold property types include detached houses, semi-detached houses, farms, and townhouses not part of condominium corporations.
A condominium or condo is a distinct type of property class that combines apartment living and individual homeownership elements. In a condominium, individual units are owned by the residents, while the common areas and amenities are shared among all the unit owners. This type of ownership gives you rights to your specific unit and some rights and responsibilities to the common areas, such as the hallways, elevators, garage, pool and rooftop patios.
A leasehold is a legal arrangement where a person or entity holds the right to use and occupy a property for a specific period, typically through a lease agreement. In some cases, the leaseholder may own the building or unit and rent the land from the landowner (landlord).
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