CREB® reported on August 1, 2025 that Calgary inventory reached 6,917 homes in July, a level not seen since before the pandemic and above long-term trends. Most of the gains are in newer communities.
Calgary benchmark price by type, July 2024 vs 2025
The main points
- Sales were 2,099, down 12%; new listings rose over 8% to 3,911.
- Months of supply was 3.3, up from 1.75 a year ago.
- The benchmark price was $582,900, about 4% lower than last July and 4% below the June 2024 peak.
- Tariff uncertainty, no further rate cuts and competition from new homes all weighed on sales.
- CREB Chief Economist Ann-Marie Lurie said declines “have not erased all the gains made over the past several years,” and the steepest drops are for apartments and row homes in the North East and North.
By type
- Detached: 1,031 sales and three months of supply, the first time since 2020. The price was $761,800, down less than 1%; the North East and East fell 5%, while the City Centre rose nearly 2%.
- Semi-detached: 187 sales, 549 for sale and three months of supply, the first time since 2021. The price was $697,500, up 1%.
- Row: over three months of supply and nearly five in the North East. The price was $446,200, nearly 4% lower.
- Apartment: 1,014 new listings and 508 sales; over four months of supply, the highest since 2021. The price was $329,600, nearly 5% lower.
Compared with June
July continued the summer slowdown. Sales eased from 2,286 in June to 2,099 and new listings from 4,223 to 3,911. Inventory was almost unchanged, 6,917 compared with 6,941, but because sales were lower, months of supply rose from about 3.0 to 3.3. The benchmark price slipped again, from $586,200 to $582,900, and CREB says it is now four per cent below the peak reached in June 2024.
Calgary months of supply by type, July 2025
Compared with July 2024
A year ago, Calgary had 2,374 sales, 3,603 new listings and 4,164 homes for sale, with 1.75 months of supply. Inventory is now 66% higher, the sales-to-new-listings ratio has fallen from 66% to 54%, and homes are taking 37 days to sell instead of 24. The median price of $569,500 and the average of $616,686 were each only about 1% to 2% higher than a year ago, while the benchmark was about 4% lower.
Where supply is rising
CREB says supply has improved across all property types and all districts, but the largest gains are in areas with new community growth. That is where prices have softened most. The steepest declines are for apartment and row homes, mostly in the North East and North, where new supply has risen sharply. Detached supply in the North West, West and South stayed well below three months, while the North East reported over four months.
What it means for buyers
For the first time in years, buyers in most segments can take their time. Apartments have over four months of supply and row homes over three, so buyers can negotiate on price, ask for conditions and compare resale with new construction. Detached and semi-detached buyers have about three months of supply, which is balanced, but inner-city and West-side detached homes are still in demand.
What it means for sellers
Sellers in new communities compete directly with builders and should price accordingly. Elsewhere, a well-presented, fairly priced home still sells, but it takes longer than last year. Review pricing if a listing gets few showings in its first few weeks.
Local angle
Calgary’s market is now a set of local markets. Lurie said that even where prices have declined, the drops have not erased the gains of the past several years.
Semi-detached homes also crossed a threshold: with 549 units in inventory and 187 sales, supply reached three months for the first time since 2021, yet the semi benchmark of $697,500 was 1% higher than last July.
