As we move further into the spring market, Calgary’s housing market continues to shift toward more balanced conditions overall, although what buyers and sellers are experiencing can still vary significantly depending on the property type and area of the city.
In April, we saw both sales activity and inventory levels rise compared to March, which is very typical for this time of year. However, sales were still down about six per cent compared to April of last year, reflecting a market that is gradually normalizing after several years of exceptionally strong demand.
One of the biggest changes we’re seeing right now is an increase in housing choice for buyers. Over the past few years, many buyers felt pressure to move quickly due to limited inventory and intense competition. As more listings come onto the market, that urgency has started to ease in many segments.
That said, Calgary is not experiencing one single market across all property types.
Detached homes, particularly in areas like the North West, West, and South districts, are still seeing relatively tight conditions with limited supply. In these areas, well-priced homes continue to attract strong interest and price stability remains fairly resilient. City-wide, the detached benchmark price reached $745,400 in April.
On the other hand, apartment-style condominiums are seeing much different conditions. Inventory levels continue to rise in the condo market, creating more options and negotiating power for buyers. With over four months of supply in the apartment sector, conditions are currently favouring buyers, and prices in many areas have adjusted compared to last year.
Row homes and semi-detached properties are sitting somewhere in the middle, with many areas experiencing more balanced conditions overall. What’s particularly interesting right now is how much location matters. Some districts continue to see stronger demand and stable pricing, while others are experiencing softer conditions and more price adjustments.
From a broader perspective, Calgary’s overall benchmark price reached $568,800 in April, with typical seasonal price gains occurring as we head into spring. However, prices remain slightly below last year’s levels overall, especially in the apartment condominium segment.
What I think is most important for buyers and sellers to understand right now is that strategy matters more than ever. We are no longer in the same highly competitive environment we experienced during the peak of rapid migration growth and low inventory. Today’s market requires a more nuanced approach depending on the property type, price point, and community.
For buyers, improved inventory means there are often more opportunities to take time, compare options, and negotiate more comfortably in certain segments of the market.
For sellers, preparation, pricing, and presentation remain incredibly important. Well-positioned properties are still selling successfully, particularly in segments where supply remains limited, but buyers are being more selective than they were a year or two ago.
Overall, Calgary’s market remains relatively healthy and balanced, but the experience can look very different depending on what and where you’re buying or selling. As always, understanding the local trends within your specific market segment is key to making informed decisions.