CREB® reported on April 1, 2025 that tariff threats weighed on confidence in March. Sales fell 19% from a year earlier to 2,159, with the steepest declines in higher-density homes.
Calgary benchmark price by type, March 2024 vs 2025
The main points
- New listings were 4,019, and the sales-to-new-listings ratio dropped to 54%.
- Inventory reached 5,154, about double last March, and months of supply rose to 2.4.
- The benchmark price was $592,500, stable from February and from last March.
- CREB Chief Economist Ann-Marie Lurie said sales are still stronger than anything from 2015 to 2020, and the market is shifting “back toward balanced conditions, following four consecutive years where the market favoured the seller.”
By type
- Detached: 1,035 sales (−10%) and just over two months of supply. Homes under $700,000 have less than two months; above $800,000 the market is more balanced. The price was $769,800, up over 4%.
- Semi-detached: supply of 2.2 months, the highest since the end of 2022. The price was $691,900, up over 5% and above last July’s peak.
- Row: 697 new listings and 400 sales; 826 for sale, above long-term trends. The price was $454,000, up about 2%.
- Apartment: 540 sales (−34%) and 1,710 for sale; just over three months of supply. The price was $336,100, below last August’s peak.
Compared with February
February had 1,721 sales, 2,830 new listings and 4,145 homes for sale. In March, sales rose to 2,159, as usual in spring, but new listings jumped much more, to 4,019, so inventory grew by about 1,000 homes to 5,154. The sales-to-new-listings ratio fell from 61% to 54%, low enough to support further inventory gains. The benchmark price moved from $587,600 to $592,500. A year earlier, in March 2024, there were only 2,546 homes for sale and less than one month of supply.
Homes for sale in Calgary
Why sales slowed
CREB linked the slower pace to tariff threats that have weighed on consumer confidence. Lurie said, “It is not a surprise to see a pullback in sales given the uncertainty,” but stressed that sales remain stronger than anything reported from 2015 to 2020, when the economy faced significant challenges and job losses. In other words, demand has cooled from the post-pandemic peak, not collapsed.
Prices by type
Detached and semi-detached prices remain at or near their peaks and are still rising. Apartment and row prices are slightly below last year’s peaks. The row benchmark of $454,000 was nearly 4% below its June 2024 peak, and the apartment price of $336,100 was below last August’s peak, with the largest declines in the North and North East. Detached gains were largest in the City Centre.
What it means for buyers
Buyers of row homes and apartments now have the most room to negotiate. Row homes priced above $500,000 have moved toward balanced conditions, and apartment supply is just over three months, though still well below the over six-month average of 2015 to 2020. Detached buyers below $700,000 still face less than two months of supply.
What it means for sellers
Sellers should expect more competition as listings rise into spring. Detached and semi-detached sellers are still in a good position, but apartment and row sellers should price below last year’s peaks if they want to sell quickly.
Local angle
Row supply gains were concentrated in the North East, North and South East. For detached homes above $800,000, conditions are shifting toward balance across the city, while lower-priced detached homes remain tight.
Practical takeaways
Follow the monthly data through spring; if uncertainty eases, sales could pick up quickly. Buyers should compare several homes before making an offer. Sellers should review their price after two to three weeks if showings are slow.
