March 2025
Calgary Real Estate Market Update: Q1 2025
The Calgary real estate market continues to show resilience in early 2025, with steady price growth despite some cooling in transaction volume. Let's explore the current trends and what they mean for buyers and sellers in today's market.
Current Market Conditions
Calgary's housing market has entered spring 2025 as a seller's market with a sales-to-new-listings ratio of 61%. Inventory has increased 75% year-over-year, providing more options for buyers while still maintaining favorable conditions for sellers. After a brief period of balanced market conditions in January, the market has again tilted in favor of sellers.
Key Market Indicators
- Benchmark home price: $587,600 (up 0.9% year-over-year)
- Average sale price across all properties: $612,838 (up 5.1% year-over-year)
- Current inventory: 2.4 months of supply (up from 1.4 months last year)
- Detached home benchmark: $760,500 (up 5.1% year-over-year)
- Condo apartment benchmark: $334,200 (up 4.0% year-over-year)
Property Type Trends
We're seeing a notable shift in buyer preferences over the past year:
- Detached homes: Still commanding the highest prices (avg. $804,439) with a 3.5% annual increase
- Semi-detached homes: Showing the strongest price growth at 7.9% year-over-year (avg. $719,393)
- Townhouses: Steady growth of 3.3% annually (avg. $482,614)
- Condos: Growing in market share to nearly one-third of all transactions, with prices up 6.3% (avg. $353,334)
Looking Ahead
Royal LePage predicts aggregate home prices will rise 4% through 2025, with detached homes increasing by 4.5% and condominiums by 2%. With Calgary's continued population growth, strong employment figures, and relatively affordable housing compared to other major Canadian cities, the market outlook remains positive despite higher-than-historical inventory levels.
