Calgary Housing Market Outlook 2025
Table of contents
Calgary Market Report Summary
- The average selling price of a home in Calgary decreased by 1.8% year-over-year to $577,900 in July 2025.
- The average selling price of a single-family home in Calgary increased by 0.2% year-over-year to $693,000 in July 2025.
- The average selling price of a townhouse/multiplex in Calgary decreased by 2.4% year-over-year to $458,300 in July 2025.
- The average selling price of a condo in Calgary decreased by 4.6% year-over-year to $335,200 in July 2025.
- The average rent in Calgary decreased by 9% year-over-year to $1,914 for July 2025.
- August 23, 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 $577,900 for the month of July 2025, that’s decreased by 0.4% compared to the previous month. On a year-over-year basis, Calgary home prices have decreased 1.8% over the last 12 months.
Single-family Home Prices
The average selling price of a single-family home in Calgary was $693,000 for the month of July 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 0.2% over the last 12 months.
Townhouse and Multiplex Prices
The average selling price of a townhouse in Calgary was $458,300 for the month of July 2025, that’s decreased by 0.8% compared to the previous month. On a year-over-year basis, the price of a townhouse in Calgary has decreased by 2.4% over the last 12 months.
Condo Prices
The average selling price of a condo in Calgary was $335,200 for the month of July 2025, that’s decreased by 1.6% compared to the previous month. On a year-over-year basis, the price of a condo in Calgary has decreased 4.6% 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 July 2025 was $577,900, and it decreased of 1.8% compared to a year ago.
CREB also reported a sales-to-new-listings ratio (SNLR) of 54%, indicating a Balanced in Calgary for July 2025.
Calgary Inventory Surges 66% and Home Sales Decline 12%
According to the Calgary Real Estate Board (CREB) for July 2025, inventory jumped to 6,917 units. This month’s inventory represents the highest level since before the pandemic and is well above long-term averages, with most of the increase coming from newer communities. The influx of supply has put downward pressure on prices in some parts and segments of the city, particularly for apartments and row homes in the North East and North districts, where much of it is concentrated. The total residential benchmark price fell to $582,900, roughly 4% below the June 2024 peak.
- Sales slowdown: 2,099 sales in July, down 12% year-over-year.
- More listings: New listings up 9% to 3,911 units.
- Inventory surge: Supply up 66% from last year, pushing months of supply to 3.3 citywide.
In July, Calgary’s detached homes posted a benchmark price of $761,800, down 1% year-over-year, while semi-detached homes edged up 1% to $697,500. Row homes dropped 4% to $446,200, and apartments saw the steepest decline at 5%, bringing the benchmark to $329,600. Price trends varied by district, with the City Centre holding steady or posting gains across most property types, while the North East recorded the sharpest drops. In terms of market balance, apartments currently have the highest supply at over 4 months, compared to a more balanced 3 months of supply for both detached and semi-detached homes.
Supply Shift Brings First Balanced Market in Years for Detached Homes
Detached homes shifted to 3 months of inventory for the first time since 2020, easing price pressure overall but with wide variations by district. Semi-detached homes maintained stable pricing, with modest gains in central areas. Row homes recorded a 3-month price slide, led by drops in the North East and North districts. The apartment sector saw the sharpest decline, pressured by elevated resale inventory, competition from new builds, and higher rental vacancy rates.
Why Conditions Could Stay Softer Through Fall
Calgary’s market is moving toward balanced conditions as rising supply meets slower sales. While core and high-demand districts continue to show resilience, outer districts with high new-home construction are experiencing more pronounced price softness. If supply growth outpaces sales into the fall, price adjustments in the most affected areas could persist.
How This Market Shift Impacts Buyers, Sellers, and Mortgages in Calgary
Higher inventory and moderated prices in Calgary improve affordability for buyers, particularly in the apartment and row segments. Homebuyers can expect more choice and stronger negotiating positions. Renewers are likely to see stable valuations in most districts. Homeowners looking to refinance may find more opportunities to tap into their home equity, though lenders could apply stricter appraisals in oversupplied areas. For the Bank of Canada, Calgary’s cooling price environment supports the view that higher rates are working, which could influence the pace of future policy changes.
Month-over-Month Market Expectations for Calgary
Transactions – Number of Sales
The number of sales in Calgary was 2,098 during July 2025, that’s decreased by 8.3% compared to the previous month. On a year-over-year basis, sales in Calgary have decreased by 6.7% over the last 12 months.
New Listings
The number of new listings in Calgary was 3,914 during July 2025, that’s decreased by 7.3% compared to the previous month. On a year-over-year basis, new listings in Calgary have increased by 23.2% over the last 12 months.
Real Estate Market
The sales to new listings ratio (SNLR) in Calgary was 54% during July 2025, indicating a Balanced. On a monthly basis, that’s decreased by 1% compared to the previous month. Calgary’s yearly sales to new listings ratio has decreased by 24.3% 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 $1,914 for the month of July 2025, which decreased by 9% on a year-over-year basis.
The average rent for a bachelor apartment in Calgary was $0 for the month of July 2025, which 0 by 0% on a year-over-year basis.
The average rent for a 1-bedroom apartment in Calgary was $1,689 for the month of July 2025, which decreased by 9% on a year-over-year basis.
The average rent for a 2-bedroom apartment in Calgary was $2,074 for the month of July 2025, which decreased by 10% on a year-over-year basis.
The average rent for a 3-bedroom apartment in Calgary was $1,689 for the month of July 2025, which decreased by 10% on a year-over-year basis.
How Does Renting Compare with Homeownership in Calgary?
Each $100,000 in mortgage balance costs an average of $528.19 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 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
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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.
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