As we move further into spring, I’m starting to see some really interesting patterns take shape in the Calgary real estate market—and honestly, it’s not as simple as looking at one headline number.
On the surface, things might appear fairly balanced. But when I dig a little deeper (and this is where it really matters), the story changes quite a bit depending on the type of property you’re looking at.
So I wanted to break down what I’m seeing right now, what it means, and how it might impact you if you’re thinking about buying or selling this year.
A Market That Looks Balanced… But Isn’t Uniform
In March, we saw 1,881 sales across Calgary, which is up from February but still about 13% lower than this time last year.
At the same time, inventory continues to rise—which is typical for this time of year as we head into the spring market. But here’s where things get interesting:
Inventory is higher than usual for condos and row homes
Inventory is still quite tight for detached homes
So while the overall market might look balanced, it’s actually very segmented right now.
And that’s something I’m talking about with clients almost daily.
Detached Homes: Still Tight in Many Areas
The detached market continues to be the tightest segment right now.
There were 982 sales and 1,614 new listings in March, with just over two months of supply, which keeps things relatively competitive in many parts of the city.
In areas like the North West, West, South, and South East, we’re still seeing tighter conditions, meaning well-priced homes are continuing to attract strong interest.
The benchmark price for detached homes came in around $741,300, slightly below last year’s peak, but still holding relatively strong.
From what I’m seeing on the ground, buyers are still very active in this segment, but they’re also a bit more cautious and selective than they were last year.
Semi-Detached: Quietly Holding Steady
Semi-detached homes are actually one of the more balanced segments right now.
Sales have been improving, inventory is sitting at more typical levels, and prices have remained relatively stable. The benchmark price is around $686,100, which is only slightly down from last year.
This is one of those segments that doesn’t always get a lot of attention, but it’s offering a really nice middle ground right now for buyers.
Row Homes: More Options, More Negotiation
Row homes are where we’re starting to see a bit more of a shift.
Sales have slowed compared to last year, and inventory has increased—sitting about 25% above long-term trends, with close to three months of supply.
That increase in supply is giving buyers more choice, which naturally creates a bit more negotiating power.
Prices are holding relatively steady month-to-month, but are down about 6% year-over-year, which is something both buyers and sellers need to be aware of.
Apartment Condos: A Clear Buyer’s Market
This is where we’re seeing the biggest shift.
Apartment-style condos have seen a significant rise in inventory, with 1,774 units available—approaching levels we haven’t seen since 2008.
At the same time:
Sales have slowed
Supply continues to grow
Months of supply is sitting around five months
All of that adds up to a market that clearly favours buyers.
The benchmark price is now around $300,300, down more than 9% compared to last year, with continued downward pressure in many areas.
If you’re a buyer, this is where you’re likely to find the most opportunity right now.
What’s Driving These Differences?
A lot of this comes down to supply.
Over the past year, we’ve seen:
A pullback in detached housing starts
A surge in apartment-style construction
So now we’re seeing the result of that—limited supply in some segments and an oversupply in others.
We’re also seeing demand spread out more, especially with slower migration compared to last year.
Regional Snapshot: Surrounding Communities
The surrounding areas are showing similar patterns, but with their own nuances.
Airdrie is sitting in a relatively balanced position, with prices stabilizing around $512,800
Cochrane is seeing rising inventory and more balanced conditions, with prices around $561,200
Okotoks still has relatively tight supply, helping support prices around $618,100
Overall, these markets are starting to feel a bit more stable compared to the intensity we saw last year.
My Take
Right now, I’m describing the market as a “multi-speed market.”
What that means is:
Detached homes = still competitive in many areas
Condos = much more buyer-friendly
Everything in between = somewhere in the middle
And because of that, strategy really matters.
There’s no one-size-fits-all approach right now. What works for a condo seller is very different from what works for a detached home seller, and the same goes for buyers.
Final Thoughts
If there’s one thing I’d say right now, it’s this:
The Calgary market is active, but it’s also evolving.
We’re not seeing the same conditions across the board, and that creates both challenges and opportunities depending on your situation.
If you’re thinking about making a move this year, whether buying, selling, or just exploring your options, it’s more important than ever to understand where your property fits within the bigger picture.
And as always, if you have questions or want to talk through what this means for you, I’m happy to help.