CREB® reported on September 2, 2025 that Calgary’s benchmark price fell to $577,200 in August, nearly 4% lower than last year, with the largest declines for apartments and row homes.
Calgary benchmark price by type, August 2024 vs 2025
The main points
- Sales were 1,989, nearly 9% lower but still above long-term trends.
- Inventory was 6,661, the highest for August since 2019.
- Months of supply was 3.4, more balanced than the past four years but below pre-pandemic buyers’ market levels.
- CREB Chief Economist Ann-Marie Lurie said “perspective is needed”: recent declines “have not offset all the gains” of the past several years.
By type
- Detached: 995 sales, 1,748 new listings and 3,051 for sale, the most for August since 2020. The North East, North and East are buyers’ markets. The price was $755,600, down nearly 1%; the North East and East fell 5%, while the City Centre rose over 2%.
- Semi-detached: 206 sales, a 67% ratio and supply under three months. The price was $687,200, nearly 1% higher.
- Row: 1,103 for sale, the second-highest for August on record. The price was $439,600, a fourth straight monthly decline and nearly 5% lower than last year.
- Apartment: 877 new listings and 449 sales; about four months of supply since June. The price was $326,500, a fifth monthly decline and nearly 6% lower.
Compared with July
August brought fewer sales and fewer new listings than July: sales eased from 2,099 to 1,989 and new listings from 3,911 to 3,478. Inventory declined from 6,917 to 6,661, the first monthly drop this summer, but months of supply edged up from 3.3 to 3.4 because sales slowed too. The benchmark price continued its gradual decline, from $582,900 in July to $577,200, another monthly decrease.
Calgary total benchmark price
Compared with August 2024
A year ago, Calgary had 2,182 sales, 3,537 new listings and 4,495 homes for sale, or 2.1 months of supply. Inventory is now 48% higher and homes take 38 days to sell, up from 27. Interestingly, the sales-to-new-listings ratio, 57%, is not far below last August’s 62%, because new listings were slightly lower than a year ago. The median price of $570,000 was about 2% higher than last year, while the benchmark was about 4% lower.
Perspective on prices
CREB says the biggest price adjustments are for row and apartment homes, the types with the largest gains in supply choice. In the detached and semi-detached markets, changes range from modest gains in some areas to larger declines where supply has grown the most. Lurie said recent adjustments have not offset all the gains of the past several years. Sales are slower than during the past four years but still above long-term trends, which points to relatively strong demand. The 3.4 months of supply is much higher than the sellers’ markets of the previous four years, but still well below the levels seen in the buyers’ markets before the pandemic.
What it means for buyers
This is a good time to shop for condos and townhomes, where prices have now fallen for several months in a row, and for detached homes in the North East, North and East, which CREB describes as buyers’ markets. Use the extra time to compare, inspect and negotiate. In tighter areas such as the City Centre, prices are still rising, so expect less room.
What it means for sellers
Sellers should expect a longer sale and price for current conditions. Semi-detached sellers are in the best position, with a 67% sales-to-new-listings ratio and a benchmark nearly 1% above last year.
Local angle
Fall is usually quieter than spring. With inventory still high, the coming months are likely to favour patient buyers.
Row homes illustrate the trend: 1,103 were for sale in August, up from 663 a year earlier, and the row benchmark of $439,600 has now declined for four straight months.
