CREB® reported on May 1, 2025 that Calgary moved into balanced conditions in April. Inventory more than doubled from last year’s exceptionally low level and is now typical for April.
Calgary benchmark price by type, April 2024 vs 2025
The main points
- Sales were 2,236, 22% lower than last year but in line with long-term trends.
- New listings were 4,038, and inventory was 5,867 in CREB’s statistics package.
- The benchmark price was $591,100, 1.4% lower than last April.
- Lower-priced detached and semi-detached homes are still short of supply, while row and apartment homes have shifted more broadly to balance.
- CREB Chief Economist Ann-Marie Lurie said migration, stable jobs, lower rates and better supply “have likely prevented a more significant pullback in sales.”
By type
- Detached: 1,102 sales (−16%), 2,511 for sale and 2.3 months of supply. The price was $769,300, over 2% higher; the City Centre rose nearly 5%.
- Semi-detached: 190 sales on 350 new listings and 484 for sale, 2.6 months of supply. The price was $691,700, over 3% higher.
- Row: 1,005 for sale, the most since 2021, and nearly three months of supply. The price was $457,400, about the same as last year.
- Apartment: record April new listings and three months of supply. The North East had seven months. The price was $336,000, 3% below last year’s record.
Compared with March
In March, Calgary had 2,159 sales, 4,019 new listings and 5,154 homes for sale, with 2.4 months of supply. April added slightly more sales, 2,236, and about the same number of new listings, 4,038, so inventory rose again, to 5,867 in the statistics package, and months of supply reached 2.6. Benchmark prices for every property type were relatively stable compared with March. The total benchmark of $591,100 was 1.4% lower than in April 2024, the first year-over-year decline in the total benchmark so far in 2025.
Calgary months of supply
Why sales held up
Lurie said economic uncertainty has weighed on sales, but levels “are still outpacing activity reported during the challenging economic climate experienced prior to the pandemic.” She credited previous gains in migration, relatively stable employment, lower lending rates and better supply than last year’s ultra-low levels for preventing a deeper pullback and keeping prices relatively stable.
Uneven conditions
Detached and semi-detached homes in lower price ranges still struggle with insufficient supply, while row and apartment homes have seen broader shifts to balance. Detached supply of 2.3 months compares with less than one month a year earlier. Row inventory of 1,005 was the highest since 2021. In the apartment market, the North East had seven months of supply, which led to a 2% annual price decline there and a spread of over 7% from last year’s high.
What it means for buyers
Buyers now have a typical April market: inventory consistent with what is normally seen in this month, and homes taking 29 days to sell instead of 20 a year earlier. Apartment and row buyers have the most negotiating power, especially in the North East. Detached buyers in the lower price ranges should still be prepared to move quickly.
What it means for sellers
Sellers can no longer count on rising prices to cover an ambitious list price. Detached and semi-detached sellers are still seeing modest gains of over 2% and over 3% from a year ago, while row and apartment prices are essentially unchanged. Detached sales actually rose over last year in the South East, so local conditions matter.
Practical takeaways
Check months of supply and recent sales in your district before making a decision. Buyers can include conditions in offers again. Sellers should prepare to negotiate, especially for condos and townhomes.
The next update, for May, arrives in early June.
