CREB® reported on March 4, 2025 that Calgary inventory rose 76% from a year earlier to 4,145 homes in February, the second big annual gain in a row. The largest increases were for homes priced under $500,000.
Calgary benchmark price by type, February 2024 vs 2025
The main points
- Sales were 1,721, 19% lower than last year but above historical averages.
- New listings were 2,830, and the sales-to-new-listings ratio was 61%.
- Months of supply was 2.4, more than double last February.
- The benchmark price was $587,600, about 1% higher than last year. The City Centre and North districts saw declines; the East rose over 3%.
- CREB President and CEO Alan Tennant said “the seller’s market of the past two or three years” is easing, which “should come as welcome news for buyers.”
By type
- Detached: 765 sales (−20%), 1,265 new listings and 1,698 for sale (+61%). The price was $760,500, up about 5%.
- Semi-detached: 165 sales and inventory up 46%. The price was $683,500, up nearly 7%.
- Row: 655 for sale, more than double last year. The price was $446,800, up almost 3%.
- Apartment: 473 sales (−26%) and a February record of 852 new listings; 3.1 months of supply. The price was $334,200, up almost 4%.
Compared with January
In January, Calgary had 1,451 sales, 2,896 new listings and 3,639 homes for sale. February brought more sales, 1,721, and about the same number of new listings, 2,830, so inventory rose again to 4,145. Months of supply was 2.4, similar to January’s 2.5. The benchmark price edged up from $583,000 to $587,600, which CREB described as relatively stable compared with late 2024. A year earlier, in February 2024, there were only 2,360 homes for sale and 1.1 months of supply, according to CREB’s statistics package.
Homes for sale in Calgary
Context
The sales-to-new-listings ratio of 61% is higher than historical averages but below the levels of each of the last three years, when sellers had a clear edge. Sales remain above long-term averages for February, but well below the record levels of the post-pandemic period. That is what a market moving toward balance looks like: still active, but with more choice and less pressure on prices.
Where the change is biggest
The largest inventory increases were for homes priced under $500,000, driven by apartments and row homes. Row inventory of 655 was more than double last year’s level, though still below historical averages for February. Apartment new listings of 852 were the highest on record for the month, and apartment inventory pushed to near-record levels. For detached homes, the City Centre and North East are trending toward balance, while the South and North West remain supply-constrained at about 1.6 months.
What it means for buyers
Buyers looking for a lower-priced home have more choice than a year ago, especially in apartments and townhomes. Homes are also taking longer to sell: days on market rose from 24 to 33. Detached buyers in the South and North West should still expect competition.
What it means for sellers
Sellers should be ready for a slower pace. Prices were still higher than a year ago for every property type, from almost 3% for row homes to about 5% for detached homes, but the gains are smaller than last year. Pricing based on current competition, rather than on last year’s results, matters more now.
Local angle
Prices moved differently across districts. The City Centre and North saw total benchmark declines, while the East rose over 3%. East district row prices rose 12% year over year, and semi-detached supply ranged from about one month in the North West to eight months in the East.
Practical takeaways
Look at supply in your district and price range before setting expectations. Buyers can use the extra time to compare homes. Sellers should prepare the home well and price it in line with the listings it competes with today.
