Calgary, Alberta – April 2025
March brought a shift in momentum for Calgary’s real estate market. Amid growing economic uncertainty, particularly tied to tariff threats, home sales slowed across the board. But while the headlines might focus on the 19% year-over-year decline in sales, the full story paints a more balanced—and even optimistic—picture for both buyers and sellers.
Sales Slowdown: A Sign of Uncertainty, Not Collapse
In total, Calgary recorded 2,159 home sales in March 2025, a drop from the highs seen during the boom of recent years. The decline was felt across all property types, with higher-density segments—like condos and townhomes—experiencing the steepest pullbacks.
“It is not a surprise to see a pullback in sales given the uncertainty,” said Ann-Marie Lurie, Chief Economist at CREB®. “However, it is important to note that sales still remain stronger than anything reported throughout 2015 to 2020, where our economy faced significant economic challenges and job loss.”
This perspective is key: while March’s numbers are lower than last year’s, they still outperform several previous years, suggesting a more stabilized market rather than a market in retreat.
New Listings on the Rise: Inventory Rebuilds
While demand softened, supply grew—a welcome development after years of tight inventory. March saw over 4,000 new listings, which pushed total inventory levels to 5,154 units. The sales-to-new-listings ratio dropped to 54%, a clear indication that the red-hot seller’s market of the past four years is cooling.
The months of supply rose to 2.4, offering more breathing room for buyers who previously faced intense competition. More choices mean more balanced market conditions, and potentially more reasonable negotiations.
Prices Hold Steady Despite Shifts
Despite the slowdown in sales activity, Calgary’s benchmark home prices remain remarkably resilient. The unadjusted benchmark price in March was $592,500, relatively unchanged from both last month and from March 2024.
Detached and semi-detached homes continue to show strength, maintaining price levels near previous peaks. Apartments and row-style homes have seen slight declines from last year’s highs, but remain well above historical averages.
What This Means for Buyers and Sellers
Calgary is transitioning away from an overheated seller’s market toward more balanced conditions—a trend that could benefit both sides of a transaction:
For buyers, this may be the moment you’ve been waiting for. More inventory, stable prices, and slightly longer days on market give you the opportunity to be strategic—without the fear of constant bidding wars.
For sellers, while you may no longer command record-breaking prices overnight, strong demand for well-priced, move-in-ready homes remains. The key is understanding where your property fits in Calgary’s increasingly segmented market.
The Bottom Line
Yes, uncertainty has cast a shadow over the market, but balance is emerging. With higher inventory, stable prices, and a return to more normal conditions, Calgary is entering a new chapter—one that rewards preparation, strategy, and perspective.
Whether you're buying, selling, or investing, the current market offers opportunities. The key is having the right information—and the right team—to help you navigate it.
Need help interpreting what this means for your home or investment plans? Let’s talk. Calgary’s market isn’t one-size-fits-all, and we’re here to help you make confident, informed decisions.