Calgary Real Estate Market Update 2025: Balanced Conditions Return + 2026 Outlook

After several years of strong price growth, 2025 became a transition year for the Calgary housing market. We saw a meaningful shift: more supply entered the market just as demand pressure eased, helping move many segments from a seller-driven market toward more balanced conditions, especially in the second half of the year.

In this update, I’ll break down the biggest trends from 2025, explain what changed, and share what buyers and sellers should watch heading into 2026.

Watch the full breakdown video

Quick Snapshot: Calgary Housing Market in 2025

Here are the headline numbers that shaped the year:

• Total sales: 22,751 units (down 16% year-over-year, but still in line with long-term trends)

• New listings: 40,000+ (up 9% year-over-year)

• Overall benchmark price (annual average): $577,492 (down 2%)

The key story isn’t just prices — it’s the shift in market conditions. With more listings and rising inventory, buyers had more choice and negotiations became more common in certain segments.

Why the Market Shifted in 2025

1) Supply improved across the city

After years of tight inventory, supply levels improved in 2025, supported by record-high housing starts and more new listings coming to market. When supply rises faster than sales, the market naturally moves toward balance.

2) Demand pressure eased

Demand remained strong compared to long-term norms, but the intensity cooled versus the previous year. A reduction in migration levels and uncertainty during the spring market helped take some pressure off resale demand.

3) The shift wasn’t the same everywhere

One important takeaway: Calgary isn’t one market. Some neighbourhoods stayed competitive and seller-leaning, while other areas moved to balanced or even buyer-leaning conditions. Outcomes varied by location, price range, and property type.

Price Trends by Property Type in 2025

One reason the overall benchmark dipped slightly is that different property types moved in different directions. Detached and semi-detached held up better, while row homes and apartment condos saw more noticeable price softness.

Detached Homes: Still Resilient, But More Balanced

• Sales: 11,328 (down nearly 9%)

• Benchmark price (annual average): $752,767 (up about 1%)

Detached homes remained the most stable segment overall. However, conditions varied by district:

• Some districts saw softer pricing when inventory rose significantly

• City Centre stayed tighter on inventory, which helped prices hold up better

Big picture: detached conditions shifted toward balance by the second half of the year as supply improved.

Semi-Detached Homes: Stronger Annual Price Growth

• Sales: 2,159 (down 8%)

• Benchmark price (annual average): $685,850 (up nearly 3%)

Semi-detached is a smaller segment of Calgary’s market, but in 2025 it showed stronger annual price gains than detached. It took longer for this segment to fully move into balanced conditions, which supported prices.

Row Homes: More Supply Took Pressure Off Prices

• Sales: 3,838 (down 17%)

• Benchmark price: down about 2%

Row homes are making up a bigger share of market activity over time, but 2025 brought a noticeable shift: more new listings and higher inventory helped ease price pressure, and conditions moved to balanced earlier in the year.

By the final quarter, some districts ranged from balanced to buyer-leaning.

Apartment Condominiums: Biggest Adjustment in 2025

• Sales: down 28% year-over-year

• Benchmark price: down nearly 3%

Condos experienced the largest adjustment. The key reason wasn’t just demand — it was supply.

Over the past few years, apartment-style construction has increased. Even when many new starts are purpose-built rentals, added supply choice can still reduce urgency in the resale condo market. In 2025, resale condo conditions became more buyer-friendly in the second half of the year, creating steady downward pressure on prices in many areas.

District Highlight: Why the North East Saw the Biggest Price Decline

In 2025, the North East reported the largest price decline compared to other districts. Two major reasons explain it:

1. Supply improved across the city (including the North East)

2. The North East also saw some of the strongest price growth in the prior two years, so part of 2025 was a natural adjustment after a strong run-up

This is a great example of why you should always look at trends by area + property type, not just citywide headlines.

What This Means for Buyers in 2026

If you’re buying in 2026, the main advantage compared to the past few years is more selection.

In a more balanced market, buyers often see:

• More time to compare options

• More conditional offers accepted (depending on property type and area)

• More negotiation opportunities, especially in segments where inventory rose the most

That said, don’t assume every part of Calgary is slow. Some pockets and price points can still be competitive — the right strategy depends on what you’re buying and where.

Home Buying Process

What This Means for Sellers in 2026

If you’re selling in 2026, it’s still a good market — but the strategy matters more.

In a balanced market:

• Pricing becomes more sensitive (overpricing usually shows up quickly)

• Presentation and marketing make a bigger difference

• Comparable sales matter more than “hope pricing.”

If your home is in a highly desired neighbourhood or category (or priced right), it can still perform very well. The goal is to list with a plan that matches today’s buyer behaviour.

2026 Outlook: What to Watch Next

One of the most important notes from the year-end update: we’re starting the new year with better inventory than we’ve seen in about three years.

More details on expectations for 2026 are scheduled to be released at the CREB® Forecast Conference on January 20, 2026. That forecast often provides helpful insight into:

• supply expectations

• demand assumptions

• pricing forecasts by segment

• key risks and opportunities

I’ll be watching that closely — because 2026 will likely continue to reward buyers and sellers who are strategic, not emotional.

Frequently Asked Questions

Is Calgary in a buyer’s market now?

Overall, 2025 moved toward balanced conditions, especially in the second half of the year. Some areas and property types leaned buyer-friendly, while other pockets still felt seller-leaning.

Which property type softened the most in 2025?

Apartment condos saw the largest adjustment, with more buyer-friendly conditions emerging later in the year due to increased supply.

Did detached home prices fall in 2025?

Detached benchmark pricing was up slightly on an annual average basis, though results varied by district.

What should I do if I’m planning to sell in 2026?

Focus on strategy: correct pricing, strong presentation, and marketing that matches where buyers are searching today. A balanced market rewards preparation. If you want a community-by-community breakdown for your price range — or you’re deciding whether to buy, sell, or wait — Contact-Ray Yang | REALTOR® (Calgary)