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As the Calgary real estate market moves through the summer months, we’re starting to see a shift—particularly due to a significant increase in supply. According to the latest CREBNow market update, July 2025 saw the city reach 6,917 active listings, a level of inventory not seen since before the pandemic and well above long-term trends. Much of this growth has been concentrated in newer communities, which is directly influencing pricing and buyer activity across all property types.
Market Trends at a Glance
Total Sales (July): 2,099 (↓12% YoY)
New Listings: 3,911 (↑8% YoY)
Citywide Benchmark Price: Down 4% from June 2024 peak
Apartments & Row Homes: Experiencing the steepest price declines
Detached & Semi-Detached Homes: More balanced conditions
Inventory Levels: Highest since 2021 for some property types
Chief Economist Ann-Marie Lurie noted, “Price declines are not occurring across all property types in all locations of the city, and even where there have been declines, it has not erased all the gains made over the past several years.”
Let’s break it down by property type and region:
Detached Homes
Benchmark Price: $761,800 (↓<1% YoY)
Months of Supply: 3 (up for the first time since 2020)
Sales slowed to 1,031 units in July, with inventory growth outpacing demand. While most areas saw a balanced market, the North East had over four months of supply and the largest price declines (↓5%). In contrast, City Centre detached homes saw nearly a 2% increase in pricing.
Semi-Detached Homes
Benchmark Price: $697,500 (↑1% YoY)
Months of Supply: 3 (first time since 2021)
While sales declined 11% year-to-date, inventories improved. Prices held steady overall, with the City Centre seeing the highest gains (↑3%), and the North East, East, and North districts showing slight declines.
Row Homes
Benchmark Price: ↓4% YoY
Months of Supply: Over 3
Inventory continues to rise, particularly in the North East, where supply nears five months. While prices have declined recently, they remain relatively stable on a year-to-date basis, with some gains in the South, North West, and City Centre.
Apartment-Style Condominiums
Benchmark Price: $329,600 (↓1% MoM, ↓5% YoY)
Months of Supply: 4+ (highest since 2021)
Apartment units are currently experiencing the greatest pricing pressure. Increased competition from new construction and rising rental vacancies are weighing on the resale condo market. However, price declines are mostly concentrated in the North East, North, South East, and East, with other areas showing more resilience.
Surrounding Markets
Airdrie
Benchmark Price: $532,800 (↓4% YoY)
Inventory is up to its highest July level since 2018, resulting in over 3 months of supply. Despite the drop, prices year-to-date remain relatively stable.
Cochrane
Benchmark Price: $590,000 (↑2% YoY, ↑4% YTD)
Sales have softened slightly, but remain strong compared to long-term trends. A record number of July listings pushed inventory higher, slightly impacting pricing.
Okotoks
Benchmark Price: $628,500 (↑2% YTD)
Still one of the tighter markets, with just over 2 months of supply and strong sales-to-new-listings ratio (71%). Prices remain higher than last year despite a slight monthly dip.
What Does This Mean for Buyers and Sellers?
The increase in inventory across Calgary—particularly in the apartment and row home sectors—has shifted the dynamics from a seller-favoured market to one that’s more balanced or even tilted toward buyers in some areas. Sellers should be mindful of increased competition and price sensitivity, especially in newer or higher-density developments.
For buyers, this is an opportunity to explore more options and negotiate with greater confidence—especially in the condo market where selection and value are improving.
Source: CREBNow
Click here to read the full July 2025 Calgary & Region Market Stats report.
Click here to view the full City of Calgary monthly stats package.
Click here to view the full Calgary region monthly stats package.
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