After a few years of intense activity and rapid price growth, 2025 marked a noticeable shift in Calgary’s real estate market—and honestly, I think it’s a healthy one.
We finally saw more homes coming onto the market, thanks to record levels of new construction and increased listings across many property types. At the same time, demand cooled slightly due to lower migration levels and economic uncertainty earlier in the year. The result? A market that moved away from extreme seller conditions and into something much more balanced.
In real terms, that means buyers have more options and time to make decisions, while sellers need to be more thoughtful about pricing and presentation.
Detached & Semi-Detached Homes
Detached homes still held their value fairly well, even though sales slowed. Some areas saw slight price declines as inventory increased, while others—especially in more central locations—continued to post modest gains. Overall, detached prices ended the year up just over one per cent.
Semi-detached homes followed a similar pattern but stayed stronger a little longer. Limited supply in some pockets helped keep prices moving upward, with this segment finishing the year nearly three per cent higher than last year.
What this tells me: demand for traditional family homes is still there—but buyers now have breathing room, and sellers need to price realistically.
Townhomes & Condos
Townhomes and condos experienced the biggest adjustments. Increased inventory and competition from new construction shifted these segments into balanced—or in some areas, buyer-friendly—conditions much earlier in the year.
Apartment-style condos, in particular, saw more price pressure as additional supply came online. Buyers benefited from more choice, while sellers had to work harder to stand out. By the end of the year, prices in these segments were down modestly compared to 2024.
For anyone considering a condo or townhome, this created opportunities to negotiate and take time choosing the right fit.
What’s Happening in Surrounding Communities
In Airdrie, rising supply and competition from new builds pushed prices slightly lower.
In Cochrane, demand remained strong and prices continued to climb, supported by newer housing stock.
In Okotoks, limited inventory kept conditions relatively tight, with some property types still seeing strong gains.
Each community is moving at its own pace, which makes local knowledge more important than ever.
The Big Picture
Across Calgary and the surrounding region, we’re entering the new year with better inventory levels than we’ve had in the past three years. That doesn’t mean prices are collapsing—it means the market is normalizing.
Some segments are still performing well, while others are adjusting after a few very strong years. The most important takeaway? We’re no longer in a one-size-fits-all market. Conditions now depend on property type, price range, and location.
Why This Matters for You
If you’re a buyer, this is a market that rewards preparation. You have more choice, more time, and more negotiating power than you’ve had in years.
If you’re a seller, strategy matters. Pricing accurately, presenting your home well, and clearly communicating its value are more important than ever.
From where I sit, this shift is a good thing. A balanced market allows people to make thoughtful decisions—not rushed ones. And when it comes to buying or selling a home, that’s exactly the kind of environment you want.