CREB® reported on February 3, 2025 that Calgary inventory rose to 3,639 homes in January, about 70% more than a year earlier, after three years of limited choice. That is still below the more than 4,000 usually seen in January.
Calgary benchmark price by type, January 2024 vs 2025
The main points
- New listings were 2,896, against 1,451 sales. Sales fell 12% but were nearly 30% above typical January levels.
- Months of supply was 2.5, compared with about one month a year ago.
- The benchmark price was $583,000, stable since the end of 2024 and nearly 3% higher than last January.
- CREB Chief Economist Ann-Marie Lurie said detached, semi-detached and row homes remain tight, while apartments “show signs of excess supply for higher priced units.”
By type
- Detached: 1,228 new listings (+29%), 674 sales and 1,448 for sale; just over two months of supply. The price was $750,800, up 7%.
- Semi-detached: 160 sales and 1.92 months of supply. The price was $673,600, up over 8%.
- Row: 247 sales and 589 for sale, more than double last January. The price was $444,900, up nearly 5%.
- Apartment: 370 sales and 922 new listings; 1,295 for sale and 3.5 months of supply. The price was $331,400, up over 5%.
Note: by-type figures are from CREB’s January 2025 statistics package.
Compared with December
Calgary ended 2024 with 1,322 sales in December and 2,989 homes for sale. In January, inventory rose by 650 homes to 3,639, as 2,896 new listings came on the market, about twice the 1,451 sales. The total benchmark price of $583,000 was relatively stable compared with the end of last year, and seasonally adjusted detached prices have been stable since the second half of 2024. Compared with January 2024, when 2,158 homes were for sale, inventory rose by about 70%.
Homes for sale in Calgary
Context
CREB’s 2025 forecast, released in January, expected supply to improve this year and the market to move toward balance, with price growth of about 3%. January’s figures fit that outlook. Lurie said supply levels “are expected to improve this year, contributing to more balanced conditions and slower price growth.” But 2.5 months of supply is still considered low for a winter month, and inventory remains below the more than 4,000 homes usually seen in January.
Uneven by type
The adjustment is not equal across property types. Months of supply ranged from under two for semi-detached homes to 3.5 for apartments. Detached inventory of 1,448 was still nearly 27% below what is traditionally seen in January. Among semi-detached homes, the City Centre, North East and West had near or above three months of supply, while all other districts had less than two. For detached homes, more balanced conditions are taking shape in the City Centre and North East.
What it means for buyers
Buyers have more homes to choose from than in any January of the past three years, and more time: the statistics package shows days on market rose from 34 to 41. Apartment buyers have the most room, with 1,295 units for sale. Detached buyers in most districts still face competition, since most of the new detached listings were priced above $600,000.
What it means for sellers
Sellers of detached, semi-detached and row homes remain in a relatively strong position, with benchmark prices 7%, over 8% and nearly 5% higher than a year earlier. Apartment sellers face more competition, since Lurie said apartments show signs of excess supply for higher-priced units.
Practical takeaways
Check months of supply for your own property type and district. Sellers should price against current competing listings, not last spring’s sales. Buyers who start looking now face less competition than they may in the spring, when sales typically rise.
