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Calgary Market Report Summary

• The average selling price of a home in Calgary increased by 0.4% year-over-year to $583,000 in May 2025.
• The average selling price of a single-family home in Calgary increased by 2.8% year-over-year to $696,800 in May 2025.
• The average selling price of a townhouse/multiplex in Calgary increased by 0.7% year-over-year to $465,200 in May 2025.
• The average selling price of a condo in Calgary increased by 0.6% year-over-year to $343,100 in May 2025.
• The average rent in Calgary decreased by 9.0% year-over-year to $1,903 for May 2025.
• July 4, 2025: Today’s lowest mortgage rate in Calgary is for a 5-year fixed.

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Composite Home Prices

Single-family Home Prices

Townhouse and Multiplex Prices

Condo Prices

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 May 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 May 2025.

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Calgary Housing Supply Surges, Prices Moderate as Market Rebalances

Calgary’s housing market continued its shift toward more balanced conditions in May 2025, driven by rising inventory, steady new construction, and a dip in demand compared to last year’s red-hot pace. According to the Calgary Real Estate Board (CREB), total home sales dropped 16.9% year-over-year to 2,568 units, while new listings jumped 11.6% to 4,842. Inventory nearly doubled, rising 97.5% to 6,740 active listings. These shifts pushed the city-wide months of supply up to 2.62, marking the highest level since mid-2020.

Despite the headline drop in sales, activity remains 11% above long-term May averages, suggesting that Calgary’s fundamentals, population growth, job creation, and affordability continue to be supportive.

Prices Ease in Some Segments as Choice Improves

Calgary’s composite benchmark home price softened slightly to $589,900 in May, down 2.5% year-over-year. While prices for detached and semi-detached homes held up, row houses and apartments saw more notable declines as increased inventory gave buyers more leverage.

● Total residential sales: 2,568 (–16.9% YoY)
● Benchmark price: $589,900 (–2.5% YoY)
● Inventory: 6,740 units (+97.5% YoY)
● New listings: 4,842 (+11.6% YoY)
● Months of inventory: 2.62
● Days on market: 32 (+69% YoY)

Detached & Semi-Detached Home Prices Hold Firm Amid Market Softness

Detached sales fell 7.8% year-over-year to 1,275 units. However, benchmark prices edged up 1% to $769,400, still above last year’s seasonal peak. Semi-detached sales remained stable at 256 units (–1.2% YoY), with the benchmark price rising nearly 3% to $697,300. Tighter inventory in districts like the North West helped keep prices resilient in these segments, even as other areas, such as the North East, saw softening due to increased competition from new builds.

Apartment and Row House Supply Spike Leads to Price Declines

The sharpest shift was seen in the row and apartment sectors. Row home sales declined 15% year-over-year while inventory soared past 1,100 units for the first time since 2021. As a result, the benchmark row price dropped 1.9% to $453,600. Apartment condo sales plunged 36% from May 2024, with benchmark prices falling 1.5% to $335,300. Many districts, particularly the North East and South East, saw price declines of over 4% year-over-year due to rising inventory and increased competition from new and rental units.

Regional Markets Echo Calgary’s Trends

Surrounding communities followed similar trends:

• Airdrie: Benchmark price $540,600 (–2% YoY), sales-to-new listings ratio 58%, MOI 2.42
• Cochrane: Benchmark $589,400 (+4% YoY), MOI rose to 2.71 amid a 17% drop in sales
• Okotoks: Limited supply keeps MOI low at 1.42; benchmark up 2% YoY to $633,900

Each region is showing signs of cooling from 2024’s peak activity, though Okotoks remains an outlier with strong price growth driven by tight inventory.

Trends Suggest More Balance Ahead

According to CREB Chief Economist Ann-Marie Lurie, “The recent pullbacks in sales and inventory have helped shift Calgary’s market toward balance, taking pressure off prices.” This is a different dynamic than seen in cities like Toronto or Vancouver, where weakness was present even before global trade concerns emerged. Calgary remains anchored by solid economic fundamentals and strong migration, which should help it avoid a deeper downturn.

Impact on Mortgages and Monetary Policy

Calgary’s evolving market reflects a broader rebalancing underway across Canada. For the Bank of Canada, these trends may justify additional rate cuts if inflation stays in check. For homebuyers in Calgary, rising inventory and slower price growth are creating more favourable conditions to enter the market, especially in higher-supply segments such as apartments and row houses. Renewers may find their home values holding up better in Calgary than in other major cities. At the same time, refinancers could benefit from greater appraisal stability, provided they act before additional pressure builds from inflation or increased unemployment.

Month-over-Month Market Expectations for Calgary

Transactions –  Number of Sales

New Listings

Real Estate Market

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

Calgary Market Rents Summary

The average rent in Calgary was $1,903 for the month of May 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 May 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 May 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 May 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 May 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 $521.15 per month on nesto’s lowest fixed 5-year rate at and $530.60 per month on nesto’s lowest adjustable 5-year rate at . For each $100,000 in mortgage balance, a 0.25% change in Canada’s policy rate impacts the monthly payment by $13.74.

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 2.75%, and nesto’s prime rate is set to 4.95%.

Rental Price Changes by City

Rental Price Changes by Province

Rental Price Growth by Housing Type

Frequently Asked Questions on Calgary Housing Market Outlook for 2025

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Why Choose nesto

At nesto, our commission-free mortgage experts, certified in multiple provinces, provide exceptional advice and service that exceeds industry standards. Our mortgage experts are non-commissioned, salaried employees who provide impartial guidance on mortgage options tailored to your needs and are evaluated based on client satisfaction and advice quality. nesto aims to transform the mortgage industry by providing honest advice and competitive rates using a 100% fully digital, transparent, seamless process.

nesto is on a mission to offer a positive, empowering and transparent property financing experience – simplified from start to finish.

Contact our licensed and knowledgeable mortgage experts to find your best mortgage rate in Canada.

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