CREB® reported on June 2, 2025 that Calgary sales fell 17% from a year earlier to 2,568 in May, mainly because of a steep drop in condo sales. Sales were still 11% above long-term trends for May and up from April.
Calgary benchmark price by type, May 2024 vs 2025
The main points
- New listings were 4,842 and inventory was 6,740, nearly double last May.
- Months of supply was 2.6, about the same as April, so conditions are still balanced.
- The benchmark price was $589,900, 2.5% lower than last year.
- CREB Chief Economist Ann-Marie Lurie said Calgary is different from cities whose markets “were struggling prior to the addition of economic uncertainty.”
By type
- Detached: 1,275 sales, 2,419 new listings and 2,995 for sale. The North East has a 41% sales-to-new-listings ratio and nearly four months of supply. The price was $769,400, 1% higher than last year.
- Semi-detached: 256 sales on 428 new listings; just over two months of supply. The price was $697,300, nearly 3% higher.
- Row: 1,116 for sale, over 1,000 for a second month. The price was $453,600, nearly 2% below last May.
- Apartment: 579 sales, down from a record 907; 3.6 months of supply. The price was $335,300, over 1% lower. New rental supply is slowing demand from renters who would otherwise buy.
Compared with April
May was busier than April on both sides of the market. Sales rose from 2,236 to 2,568 and new listings from 4,038 to 4,842. Inventory climbed again, from 5,867 to 6,740 homes for sale, but because sales also improved, months of supply stayed at about 2.6, the same level as in April. The total benchmark price slipped from $591,100 in April to $589,900 in May. In other words, the month did not bring a new shift in conditions; it confirmed the balanced market that first appeared in the spring.
Calgary homes for sale (inventory)
Compared with May 2024
The change from a year ago is much larger. In May 2024, Calgary had 3,090 sales, 4,337 new listings and only 3,412 homes for sale, which was about 1.1 months of supply. The sales-to-new-listings ratio has fallen from 71% to 53%, and the typical home now takes 32 days to sell, compared with 19 days a year earlier. Even so, the median price of $590,250 was about 5% higher than last May and the average price of $649,268 was about 6% higher, because more of this year’s sales were detached homes and fewer were condos. The benchmark, which adjusts for that mix, is the better guide to value, and it is 2.5% lower.
Why prices are splitting by type
CREB says the recent gains in inventory are creating pockets of the market with too much supply, while other areas are still short of homes relative to demand. Detached and semi-detached prices have held up and remain above last year. Row and apartment prices are the ones adjusting, as new rental buildings and new condo projects give renters and investors more choice. CREB also noted that Calgary entered this period of economic uncertainty from a sellers’ market, unlike several larger cities whose markets were already weak.
What it means for buyers
Buyers have more time and more choice than at any point in the last few years, especially in apartments, with 3.6 months of supply, and in detached homes in the North East, where supply is close to four months. Compare recent sales in the building or block, ask how long a listing has been on the market, and treat conditions on inspection and financing as normal again. In the tighter segments, such as semi-detached homes with about two months of supply, well-priced homes still sell quickly.
What it means for sellers
Sellers should price from current benchmark and recent sales data rather than last spring’s results. With 32 days on market on average, it pays to prepare the home well and to review the price after the first two weeks if showings are slow. Condo and row sellers face the most competition, including from new buildings nearby.
Local angle
Across Calgary, the picture now depends on the district, the price range and the property type. A detached home in an established inner-city community and a new condo in a fast-growing suburb are now in very different markets, so local numbers matter more than the city-wide headline.
