The 2025 Calgary housing market marked a real turning point. After three solid years of sharp price growth and intense seller-market conditions, we finally saw things shift toward a more balanced environment. This didn’t mean demand disappeared — far from it. But record-high housing starts improved supply just as migration eased and uncertainty cooled the market through the spring. The net result? More listings, more choice, and a market that behaved far closer to historical norms.
Total 2025 sales reached 22,751 units — down 16% from last year, but right in line with long-term trends. The real story was on the supply side. Over 40,000 new listings hit the market — a nine per cent jump year-over-year — which pushed inventory up and helped ease the pressure we’d been feeling for years.
Not all property types behaved the same way. Detached and semi-detached homes continued to perform well, posting one and three per cent price gains respectively. But row homes and apartment condominiums saw more pronounced supply growth, which ultimately led to price adjustments: down about two per cent for row homes and three per cent for apartments. That was enough to pull the overall average benchmark price down two per cent to $577,492 — a relatively modest correction after the major run-up in recent years.
Detached homes still dominate the Calgary market, with over 11,000 sales in 2025. Semi-detached homes, while a smaller slice of total activity, actually posted the strongest price growth, thanks to delayed balancing and continued demand. Row homes saw rising inventory earlier in the year, which brought prices down modestly in some districts. And the apartment market shifted most decisively toward buyers as a wave of new purpose-built rental supply indirectly softened condo resale conditions.
Outside Calgary, surrounding markets told their own stories. Airdrie saw inventory rebound sharply after four years of ultra-tight conditions, which helped cool prices by about two per cent. Cochrane remained resilient, finishing the year nearly three per cent higher in price thanks to sustained demand and a high share of newer homes. Okotoks continued to experience chronic undersupply, keeping conditions tight and prices generally stable.
The big takeaway?
For the first time in years, Calgary entered the New Year with healthier inventory and a market that feels more balanced and sustainable. Sellers now face more competition than they did during the frenzy years, while buyers finally have more choice and negotiating power in certain segments.
Different price points, areas, and property types continue to behave very differently, which is exactly why smart strategy, pricing accuracy, and market experience matter more than ever.