Mortgage Basics #Home Buying

Calgary Housing Market Outlook 2025

Calgary Housing Market Outlook 2025

Table of contents


    Calgary Market Report Summary

    • The average selling price of a home in Calgary decreased by 2.4% year-over-year to $567,900 in September 2025.
    • The average selling price of a single-family home in Calgary decreased by 0.6% year-over-year to $680,400 in September 2025.
    • The average selling price of a townhouse/multiplex in Calgary decreased by 3.6% year-over-year to $450,200 in September 2025.
    • The average selling price of a condo in Calgary decreased by 6.2% year-over-year to $329,400 in September 2025.
    • The average rent in Calgary decreased by 7.4% year-over-year to $1,897 for September 2025.
    • October 18, 2025: Today’s lowest mortgage rate in Calgary is for a 5-year fixed.

    Best Mortgage Rates

    Fixed
    Variable
    in

    0.00%3 Year Fixed

    Get Rates

    0.00%5 Year Fixed

    Get Rates
    Check more rates

    Composite Home Prices

    The average selling price of a home in Calgary was $567,900 for the month of September 2025, that’s decreased by 0.8% compared to the previous month. On a year-over-year basis, Calgary home prices have decreased 2.4% over the last 12 months.

    Single-family Home Prices

    The average selling price of a single-family home in Calgary was $680,400 for the month of September 2025, that’s decreased by 0.9% compared to the previous month. On a year-over-year basis, single-family home prices in Calgary have decreased by 0.6% over the last 12 months.

    Townhouse and Multiplex Prices

    The average selling price of a townhouse in Calgary was $450,200 for the month of September 2025, that’s decreased by 0.5% compared to the previous month. On a year-over-year basis, the price of a townhouse in Calgary has decreased by 3.6% over the last 12 months.

    Condo Prices

    The average selling price of a condo in Calgary was $329,400 for the month of September 2025, that’s decreased by 1% compared to the previous month. On a year-over-year basis, the price of a condo in Calgary has decreased 6.2% over the last 12 months.

    We’re curious…

    Are you a first-time buyer?

    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 September 2025 was $567,900, and it decreased of 2.4% compared to a year ago.

    CREB also reported a sales-to-new-listings ratio (SNLR) of 45%, indicating a Balanced in Calgary for September 2025.


    Rising Housing Supply in Calgary Leads to Softer Prices

    The Calgary Real Estate Board (CREB) saw 1,720 sales in September, down 14% from last year, while new listings climbed to 3,782, up 3%. The gap between supply and demand continued to widen, pushing inventory to 6,916 units, 36% higher than last year and 17% above typical September levels. Row and apartment-style homes saw the sharpest increases in available supply.

    Ann-Marie Lurie, CREB Chief Economist, noted, “Supply levels have been rising in the resale, new home and rental markets. The additional supply choice is coming at a time when demand is slowing, mostly due to slower population growth and persistent uncertainty. Ultimately, the additional supply choice is weighing on home prices.”

    The sales-to-new-listings ratio fell to 45%, and months of supply increased to 4, levels not seen since early 2020. If sustained, this trend could tilt the currently balanced market toward buyers in the months ahead.

    Detached Home Prices Down Slightly from Peak

    Detached sales totalled 859 units, down 9% from last year. New listings rose to 1,905, causing the months of supply to increase to 3.7. The benchmark price for detached homes was $749,900 in September, down nearly 1% MoM and YoY. The steepest price adjustments occurred in the North East and East districts, both reporting declines exceeding 6%. Despite the recent softening, detached prices remain nearly 2% higher than a year ago on a year-to-date basis, with the City Centre district showing a 4% gain.

    Semi-Detached Homes Maintain Price Stability

    Semi-detached home sales fell 14% to 156 units as listings climbed 21% to 361. The sales-to-new-listings ratio (SNLR) dropped to 43%, and months of supply rose to nearly 4, compared with less than 3 a month earlier. Benchmark prices for this property type held relatively firm at $684,800, down only slightly from August, but still nearly 1% higher than last year. Year-to-date, prices for semi-detached homes have risen 3%, with the City Centre leading the way.

    Row Homes Show Moderate Supply Increase

    Row home activity eased as 304 sales met 592 new listings, resulting in a 51% sales-to-new-listings ratio (SNLR). Inventory levels increased to 1,099 units, marking the highest September total since 2018 and representing 30% more supply than the long-term average for the month. The benchmark price for row homes fell to $437,100, down 1% from August and nearly 5% lower than last year. Year-to-date, row/townhome prices are down about 1% overall.

    Apartment Condominium Segment Feels the Most Pressure

    Apartment-style properties experienced the most significant adjustments as rental vacancies rose and buyers gained more choice in other segments. September saw 401 sales and 924 new listings, pushing months of supply up to 5, the highest level since 2021. The benchmark condo price fell to $322,900, down more than 1% from August and over 6% below last year’s level. Prices in the condo segment have trended downward across all districts, with the steepest declines in the North East (over 10%) and the smallest in the City Centre (5%).

    Calgary Regional Price Overview Across Districts

    While overall citywide benchmark prices declined 4% YoY to $572,800, several districts still reported moderate YoY gains, particularly in Calgary’s western and northern regions.

    • City Centre: $576,800, up 4.4% YoY
    • North West: $633,200, up 2.3% YoY
    • West: $707,300, up 6.5% YoY
    • South: $569,100, up 3.2% YoY
    • South East: $563,800, up 3.7% YoY
    • North: $534,900, up 6.0% YoY
    • North East: $485,000, up 7.9% YoY
    • East: $409,000, up 3.7% YoY

    Calgary Market Balance and Economic Outlook

    Calgary’s inventory has more than doubled from pandemic-era lows, offering buyers more leverage than in previous years. However, many sellers remain well-positioned, as population growth and employment remain stronger than in most other provinces. Average days on market increased to 42 from 28 a year ago, reflecting reduced urgency among buyers.

    The Bank of Canada’s recent rate cuts are bringing back buyers who were previously priced out as borrowing costs stabilize. If mortgage rates continue to trend lower through early 2026, the combination of higher inventory and improved affordability could renew momentum in Calgary’s housing market, stabilizing prices and sustaining moderate sales growth into next year.

    Best Mortgage Rates

    Fixed
    Variable
    in

    0.00%3 Year Fixed

    Get Rates

    0.00%5 Year Fixed

    Get Rates
    Check more rates

    Month-over-Month Market Expectations for Calgary

    Transactions –  Number of Sales

    The number of sales in Calgary was 1,717 during September 2025, that’s decreased by 15.1% compared to the previous month. On a year-over-year basis, sales in Calgary have decreased by 14.1% over the last 12 months.

    New Listings

    The number of new listings in Calgary was 3,784 during September 2025, that’s increased by 7.7% compared to the previous month. On a year-over-year basis, new listings in Calgary have increased by 2.5% over the last 12 months.

    Real Estate Market

    The sales to new listings ratio (SNLR) in Calgary was 45% during September 2025, indicating a Balanced. On a monthly basis, that’s decreased by 21.2% compared to the previous month. Calgary’s yearly sales to new listings ratio has decreased by 16.2% 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

    We’re curious…

    Are you a first-time buyer?

    Calgary Market Rents Summary

    The average rent in Calgary was $1,897 for the month of September 2025, which decreased by 7.4% on a year-over-year basis.

    The average rent for a bachelor apartment in Calgary was $0 for the month of September 2025, which 0 by 0% on a year-over-year basis.

    The average rent for a 1-bedroom apartment in Calgary was $1,675 for the month of September 2025, which decreased by 5.9% on a year-over-year basis.

    The average rent for a 2-bedroom apartment in Calgary was $2,068 for the month of September 2025, which decreased by 7% on a year-over-year basis.

    The average rent for a 3-bedroom apartment in Calgary was $1,675 for the month of September 2025, which decreased by 7% on a year-over-year basis.

    How Does Renting Compare with Homeownership in Calgary?

    Each $100,000 in mortgage balance costs an average of $520.07 per month on nesto’s lowest fixed 5-year rate at and $514.13 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 $13.51.

    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 2.50%, and nesto’s prime rate is set to 4.70%.

    Rental Price Changes by City

    Rental Price Changes by Province

    Rental Price Growth by Housing Type

    We’re curious…

    Are you a first-time buyer?

    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.


    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.


    Ready to get started?

    In just a few clicks, you can see our current rates. Then apply for your mortgage online in minutes!

    in this series Housing Market Outlook

    Best Mortgage Rates

    Fixed
    Variable
    in

    0.00%3 Year Fixed

    Get Rates

    0.00%5 Year Fixed

    Get Rates
    Check more rates