The Calgary real estate market is constantly changing. Fortunately, we’re here to keep you up-to-date on everything that’s going on. This seasonal update gives you the actual numbers that matter to buyers and sellers.
We break down current prices, the best neighbourhoods, and market trends in plain English – no confusing jargon. Whether you’re house hunting, thinking of selling, or just keeping an eye on local property values, you’ll find practical insights here. Our market experts closely track Calgary’s unique conditions, so you don’t have to. Check back each season for fresh updates and honest advice about what’s actually happening in the Calgary real estate world.
Calgary Real Estate Market Update: Spring 2025 Trends and Insights
The Calgary real estate landscape is evolving in meaningful ways. As we move through Spring 2025, several key market indicators show a shift toward more balanced conditions. For those considering buying or selling property in Calgary, understanding these changes is essential for making informed decisions.
Market Overview: Increasing Inventory, Moderating Sales
February 2025 data reveals significant shifts in Calgary’s housing market dynamics:
- Inventory increased 76% year-over-year to 4,145 units
- Sales decreased 19% compared to last year, with 1,721 properties sold
- Prices continue to rise but at a more measured pace than in previous quarters
Currently, Calgary sits at 2.4 months of supply—still below what defines a truly balanced market (2.5-6 months), but moving in that direction. This represents a normalization after several years of exceptionally tight inventory conditions.
The February deep freeze likely contributed to slower market activity, as extreme weather typically impacts showing schedules and buyer motivation.
What These Changes Mean For Calgary Homebuyers and Sellers
For Homebuyers:
The increasing inventory creates tangible advantages:
- Greater selection across all property types
- Reduced competition in most segments
- Enhanced negotiation opportunities
- More thoughtful decision-making timelines
The apartment sector offers the most favourable buyer conditions with 3.1 months of supply. If you’ve been waiting for the right time to enter the market, these improving conditions merit consideration.
For Home Sellers:
Despite market shifts, selling conditions remain favourable:
- Benchmark prices remain higher than last year across all property categories
- Detached homes: 5% increase (benchmark price: $576,500)
- Semi-detached: 7% increase (benchmark price: $568,335)
- Townhomes: 3% increase (benchmark price: $444,868)
- Apartments: 4% increase (benchmark price: $334,000)
The key difference in today’s market is the need for strategic positioning. Properties require proper pricing, thoughtful preparation, and effective marketing to achieve optimal results.
Performance by Housing Category
Detached Home Segment
- February sales: 765 units (20% decrease year-over-year)
- New listings: 6% increase from last year
- Current inventory: 1,698 homes (61% higher than February 2024)
- Price growth: 5% year-over-year increase
- Strongest performing districts: City center and south Calgary (nearly 8% price growth)
Detached homes continue showing resilience in pricing despite increased inventory levels. Well-prepared, properly-priced properties in desirable locations maintain strong buyer interest.
Semi-Detached Market
- Sales: 165 homes (14% year-over-year decrease)
- New listings: 7% increase
- Current inventory: 326 units (46% higher than February 2024)
- Price performance: Solid 7% annual growth
This segment maintains healthy price appreciation despite moderating sales, suggesting continued demand for this housing type.
Townhome Segment
- Sales: 318 units (9% decrease)
- Inventory: Substantial 113% increase to 655 units
- Price growth: Moderated to 3% year-over-year
The significant inventory increase in this category gives buyers considerably more options than in recent years.
Apartment Segment – Most Notable Shift
- Sales: 473 units (26% decrease from February 2024)
- New listings: Record February levels at 852 units
- Current inventory: 1,466 units (90% higher year-over-year)
- Supply: 3.1 months (highest among all property types)
- Price performance: 4% annual increase despite inventory growth
- Strongest district: West Calgary (8%+ price growth)
The apartment sector presents excellent opportunities for first-time buyers and downsizers, with significantly improved selection and potential negotiating leverage.
Key Market Influences
Several important factors are shaping Calgary’s real estate environment:
Economic and Employment Conditions
- Calgary’s unemployment rate rose to 7.7% (from 5.9% last year)
- Approximately 52,700 residents currently receiving Employment Insurance benefits
- Growth sectors: Healthcare, trade, and construction
- Challenging sectors: Food service, accommodation, and transportation
Employment stability directly impacts housing demand, with current labour market uncertainty potentially tempering buyer confidence in some segments.
US Tariff Considerations
Recent trade developments introduce new variables:
- Proposed 10% tariff on Canadian energy exports could impact Calgary’s vital energy sector
- Potential employment effects if energy production declines
- Possible impacts on consumer confidence
- Potential construction cost increases if building material tariffs are implemented
While day-to-day headlines can cause concern, it’s important to maintain perspective. Trade relationships evolve, and most experts anticipate the eventual resolution of these issues.
Interest Rate Environment
- Bank of Canada’s policy rate: 3% (as of March 4, 2025)
- Current competitive mortgage offerings:
- 3-year fixed insured: 3.87%
- 5-year fixed insured: 3.89%
- 5-year variable insured: 4.15%
These rates remain relatively favourable for buyers compared to historical averages.
Calgary Market Outlook
Looking ahead, several trends appear likely:
- Price appreciation continues but at more moderate rates
- Buyers enjoying enhanced negotiating positions
- Sellers need to focus on strategic pricing and property presentation
- Strongest inventory growth in properties under $500,000
- Economic developments potentially create market fluctuations
The normalization we’re witnessing represents a healthier, more sustainable market. Understanding where we are in the cycle helps contextualize these changes:
- 0-2.5 months supply: Seller’s market conditions
- 2.5-6 months supply: Balanced market conditions
- 6+ months supply: Buyer’s market conditions
At 2.4 months, Calgary is approaching balanced territory—a welcome development that will benefit the market’s long-term health.
Strategic Approaches for Today’s Market
For Homebuyers:
- Leverage increased selection to find properties that truly meet your needs
- Take advantage of less pressured decision-making timeframes
- Secure financing while interest rates remain favourable
- Consider segments with higher inventory for potentially stronger negotiating positions
- Evaluate properties holistically—location, condition, and long-term value remain crucial
For Home Sellers:
- Implement strategic pricing from the outset—the first 14-21 days on the market are critical
- Invest in professional staging and photography
- Prepare for more substantive negotiations than in recent years
- Research comparable neighbourhood listings thoroughly
- Consider seasonal timing—spring typically brings strong buyer activity
Looking Forward
Calgary’s real estate market is transitioning to more normalized conditions after several extraordinary years. While inventory has increased and sales have moderated, prices continue to appreciate—just at a more sustainable pace.
For those concerned about a potential market correction, current data doesn’t support such predictions. Instead, we’re seeing a healthy balance that benefits the ecosystem as a whole. For buyers, this means improved selection and less pressure. For sellers, it means focusing on proper preparation and strategic positioning.
While no one can predict with certainty what the next six months will bring—especially with variables like trade policies and interest rates in play—the movement toward market equilibrium represents positive progress for Calgary’s long-term housing stability.
Employment figures, interest rate movements, and broader economic indicators will continue influencing market direction. Staying informed about these factors helps both buyers and sellers make confident decisions in this evolving landscape.
The Justin Havre Perspective
At Justin Havre Real Estate Team, we believe a house isn’t truly a home until you place a bit of your heart and love into it. Having served over 11,000 Calgary families throughout our 17+ years in this community, we understand that our success is your success—whether you’re buying your first home or finding your next dream property.
Our team’s decades of combined experience and proven marketing strategies allow us to navigate changing market conditions effectively. We know Calgary. We know its neighbourhoods, its market cycles, and most importantly, its people.
