The Calgary Real Estate Board’s monthly housing data reveals that 2025 marked a meaningful turning point for Calgary’s residential real estate market. While demand remained solid, an increase in supply helped shift conditions away from the highly competitive seller’s market of recent years and towards a more balanced environment for 2026.
Record-high housing starts, particularly in the condo market, has greatly improved inventory. Indeed, inventory has improved across all different types of properties over the past year. At the same time, demand has begun to cool due to slower population growth and rising economic uncertainty. As a result, Calgary’s resale market has transitioned towards greater balance and is showing more choice for buyers while slowing the increase of prices.
Sales and supply
Total residential sales totalled 22,751 units in 2025, which represents a 16% year-over-year decline. Despite this reduction, sales remained consistent with long-term historical averages. What is important about this particular decline is that it was primarily because of an increase in supply rather than a sharp drop in demand — normally the case in Calgary.
More than 40,000 new listings entered the Calgary market last year, up 9% from 2024. Those higher inventory levels across the city exceeded expectations, particularly for condos and townhomes (otherwise known as row homes). Increased availability in these categories helped offset the price gains seen in detached and semi-detached homes, such as duplexes.
The average residential benchmark price in 2025 was $577,492, which is a 2% decline from 2024.
- Detached home prices increased 1% year-over-year.
- Semi-detached homes recorded stronger growth at 3%.
- Condominiums declined by 3%.
- Townhomes fell 2% annually.
Results varied around the city. Calgary’s northeast experienced the largest decline in prices, mainly driven by (again) rising inventory levels. This, however, came after two years of exceptional price growth, making this period of adjustment somewhat expected.
Strategies for both buyers and sellers
As market conditions normalized in 2025, success increasingly depended on strategy rather than speed. Performance varied widely by housing type, price point, and location, requiring a more tailored approach for both buyers and sellers.
Sellers
Selling quickly and easily was still achievable in 2025, but the outcomes were strongest for those who aligned pricing and expectations with the realities of the current market.
- Detached and semi-detached homes continued to show solid demand, with price growth of 1% and 3%.
- Condos and townhomes faced increased competition due to higher supply.
- Neighbourhood sales results often differed significantly from citywide averages.
Recommended approaches for sellers
- Price correctly from the start: With increased choice, buyers are less willing to pursue overpriced listings.
- Understand your market: Detached and semi-detached homes retained leverage in supply-constrained areas, while condos required pricing more consistent with the market.
- Elevate presentation: Professional staging, photography, and marketing have become more important than ever as buyers become more choosy.
- Remain flexible: Willingness to negotiate on conditions, possession, or minor concessions helped improve outcomes in many cases.
Buyers
For buyers, 2025 offered the most favourable conditions seen in several years.
- Inventory improved across all housing types
- Overall prices declined 2%, with larger declines shown in condos and townhomes.
- Conditions vary significantly by the area of the city.
Recommended approaches for sellers
- Take advantage of selection: Higher inventory reduces the pressure to make rushed decisions.
- Negotiate strategically: Balanced conditions allow room to negotiate price and terms, particularly in markets with more supply, such as condos.
- Focus on value: Price adjustments in previously fast-growing areas have created new opportunities to buy.
- Stay prepared: Well-priced homes in desirable locations still sold quickly, making pre-approval essential.
Performance by type of housing
Market conditions in 2025 varied notably by housing type, underscoring the importance of sector-specific analysis.
Detached homes
- Sales reached 11,328 units, a decline of nearly 9%.
- The benchmark price was $752,767, an increase of 1%.
Detached home sales declined across all areas of Calgary, with the largest declines shown in the northeast, east, and centre of the city. Increased inventory caused prices to fall roughly 2% in the northeast and east, while limited supply in the core helped drive a growth in price exceeding 3%.
Semi-detached homes (duplexes)
- Sales reached 2,159 units, a decline of nearly 8%.
- The benchmark price was $685,850, an increase of nearly 3%.
Duplexes represent less than 10% of total sales, but have shown strong resilience. However, due to new construction in the north, overall declines in prices were offset by a 4% increase in the centre of the city, where supply remained tight.
Row homes (townhomes)
- Sales reached 3,838 units, a decline of 17%.
- The benchmark price declined by 2%.
Townhome sales remained above long-term averages, which is indicative of Calgarians’ continued demand for affordability. Prices declined about 4% in the northeast and north due to increased competition.
Condominiums
- Sales went down 28%.
- The benchmark price fell by nearly 3%.
While condo sales fell sharply, condo owners can take heart in that activity remained well above historical norms. A ton of growth in supply, including numerous purpose-built rentals, have expanded options and softened resale demand.
By the second half of the year, most districts had reported elevated supply levels for condos, shifting the advantage towards buyers. Once again, price declines were most pronounced in the northeast, coming close to 5%, while Calgary’s west remained relatively stable.
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