If you’ve been keeping an eye on the Calgary real estate market, you know that things have been fluctuating. But here’s the good news: despite some ups and downs, sales are still above long-term trends, and there’s more opportunity than ever for both buyers and sellers. Let me break it down for you.
Attention: The Calgary Real Estate Landscape is Shifting
If you're thinking of buying or selling a home in Calgary, you’ve probably noticed that inventory levels are climbing. In February 2025, inventory rose by a staggering 76% compared to last year, hitting 4,145 units. What does this mean for you? More options! Whether you're looking for a condo, townhouse, or a single-family home, there's more on the market than before. This is the second month in a row we've seen these kinds of increases, which shows that things are starting to balance out after a post-pandemic frenzy.
Interest: What’s Driving These Changes?
The key change driving these inventory increases is the surge in more affordable housing options. If you’re on the hunt for a home under $500,000, you’re in luck—this price range saw the largest rise in inventory. The more affordable apartment and row/townhouse sectors are leading the charge. But what does this mean for the broader market?
It means that, while there is more inventory available, the supply is still relatively tight when compared to demand. The “months of supply” metric—the time it would take to sell all available homes at the current pace—was 2.4 in February. While that’s more than double what it was last year, it’s still a balanced market, particularly for apartment-style units, which saw the longest supply at 3.1 months.
Desire: What’s Happening with Sales and Prices?
Now, let’s talk sales. In February, there were 1,721 sales. While that’s above historical averages for the month, it’s 19% lower than last year. This might sound like bad news, but it’s actually a sign that things are stabilizing. We’ve moved away from the frenzied seller’s market we saw in the past few years. As Alan Tennant, President and CEO of CREB® (Calgary Real Estate Board), put it, “We’re seeing the seller’s market of the past two or three years ease off.” This is great news for buyers!
When it comes to pricing, the residential unadjusted benchmark price in February was $587,600. This is pretty stable compared to late-2024 levels, with only a 1% increase year-over-year. Some areas of Calgary saw price declines, especially the City Centre and North districts. On the other hand, the East district saw the largest price growth—over 3%! So, if you’re considering buying in the East, you might want to move quickly before prices climb even more.
Action: How Should You Navigate Calgary’s Real Estate Market?
Whether you’re thinking of buying or selling, the key takeaway here is that the market is balancing out. Buyers now have more options, and although prices are still rising in some areas, the frantic pace of the past few years is slowing. If you’re a buyer, now might be a great time to take advantage of more inventory and slightly lower competition. Sellers, while you may not see the same level of bidding wars as in 2023, there’s still strong demand—especially for affordable homes.
So, what are you waiting for? If you're interested in exploring the Calgary market further, don’t hesitate to reach out to a local real estate professional. This is a fantastic time to make a move, whether you're buying or selling!
Stay tuned to keep up with the latest updates, and remember, whether you're in the market to buy or sell, knowledge is your best tool. Happy house hunting!
For more detailed insights on the Calgary real estate market, you can check out these sources:
CREB® Calgary Real Estate Market Report
