Calgary Market Update: February 2025
Market Shows Resilience
If Calgary’s real estate market were a rollercoaster, we’d be at that point where things start leveling out—still moving, but not at breakneck speed. For the second month in a row, inventory surged 76% YoY, reaching 4,145 homes for sale. The biggest jump? Affordable properties under $500K, with apartments and townhouses leading the charge - not surprising since this most of the new inventory coming to the market.
Despite the new listings, sales slowed to 1,721 transactions, down 19% from last year—but still well above historical norms. Meanwhile, new listings reached 2,830, keeping the sales-to-new listings ratio at 61% (still strong, but easing).
What This Means for Buyers & Investors
More choices: With inventory up and months of supply doubling to 2.4 months, buyers have breathing room.
Affordability focus: Townhomes and apartments are seeing the biggest supply boosts, making them prime targets for investors.
Prices stabilizing: The benchmark home price is $587,600, up just 1% YoY, with some areas seeing dips while the East district posted +3% gains.
The Seller’s Market is Fading—Is It Your Time to Sell?
With more listings and a slower pace of price increases, Calgary’s once red-hot market is cooling from the record setting paces over the last few years to a more balanced environment. Calgary continues to be one of the hottest markets in Canada and is still my #1 city for long-term investment. More supply simply means better deals, more options, and smarter investments for those ready to jump in - you just need to work harder now to find the really good deals!
If you already own a property in Calgary, this could be a good time to sell and take profits off the table” as we head into the spring market which is historically the strongest period in the Calgary market. I’m holding everything I own in Calgary because I believe that prices will continue to go up over the next couple of years but if you are stressing about the the global uncertainty, tarrifs, trade wars, even global war, this could be a great opportunity to get peace of mind so that you can sleep at night - contact me for a valuation of your property.
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If you're considering buying or selling in Calgary, now is a pivotal time to act. Let’s connect to discuss how these changes impact your real estate goals!
STATS BY PROPERTY TYPE
(Statistics from the Calgary Real Estate Board)
Condos: More Options = More Opportunities
If Calgary’s condo market had a theme this month, it would d be “More is More”—more listings, more inventory, and more choices for buyers.
Let’s break it down:
Sales dipped 26% YoY to 473 units, but they’re still well above historical averages for February.
New listings hit 852 units—the highest ever recorded for the month.
Inventory skyrocketed 90% YoY, nearing record levels.
Months of supply jumped 155% to 3.1 months, giving buyers more breathing room.
What About Prices?
Despite all this extra inventory, the benchmark price held steady at $334,200—actually up 4% YoY. The West district led the charge with over 8% price growth - congrats to my Mondrian and Plaza buyers!
What’s the Big Picture?
With supply rising fast but prices still climbing, the condo market is shifting in favor of buyers. More listings mean more negotiating power, but demand is still strong enough to keep prices from dropping.
Townhouse Market: More Inventory, but Prices Still Climbing
The Calgary townhouse market is shifting gears, but it’s not slowing down just yet. While sales dipped 9% YoY, new listings inched up 4%, keeping activity well above historical averages. The big story? Inventory more than doubled YoY to 655 units, giving buyers more options than they’ve seen in a while.
Market at a Glance:
Months of Supply: Improved across the city—South and East districts remain tight (<1.5 months), while the North East has nearly 3 months.
Prices Holding Strong: The benchmark price hit $446,880, up 3% YoY but still below last fall’s peak.
East District Leads the Pack: While prices rose modestly in most areas, the East district surged 12% YoY, making it Calgary’s hottest spot for townhome appreciation.
What’s Next?
With inventory rising, buyers have more negotiating power, but demand is still high enough to keep prices growing—especially in key districts. Thinking about investing? Townhomes continue to be a solid bet in Calgary’s evolving market as buyers get priced out of houses.
Calgary’s Detached Market: More Listings, More Balance
The detached market is cooling—but just a little. While sales dropped 20% YoY to 765 units, new listings crept up 6% to 1,265 units, pushing inventory 61% higher than last year.
What’s Happening?
More supply = more balance: City Centre and North East are moving towards balanced conditions, but the South and North West districts remain tight at just 1.6 months of supply.
Prices are still climbing: The benchmark price hit $760,500, up 5% YoY.
City Centre leads the way: Prices rose across all districts with the biggest price jump in the City Centre district at nearly 8% growth.
What It Means for Buyers & Investors
With rising inventory, buyers finally have a bit more breathing room, but prices are still edging up. The market is moving towards balance—but we’re not there yet.
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