Calgary Housing Market 2025 Forecast | Year-End Review & 2026 Outlook

by Madison Ogilvy

2025 Marked a Shift Toward More Balanced Market Conditions

After several years of strong price growth and tight supply, the Calgary housing market in 2025 marked a clear year of transition. Improved supply levels—driven by record-high new home construction—came at a time when demand pressures began to ease, largely due to slower migration growth and ongoing economic uncertainty that persisted through the spring market.

These changes helped move Calgary’s resale market from one that strongly favoured sellers to conditions that were more balanced overall.

Sales and Supply Trends in 2025

Total residential sales in 2025 reached 22,751 units, down –16% year-over-year, but still in line with long-term historical trends. While demand softened, the most notable shift came from the growth in supply.

More than 40,000 new listings entered the market in 2025—+9% year-over-year—which pushed inventory levels higher and helped ease the extreme seller conditions experienced in previous years. This increase in available homes created more choice for buyers and reduced competitive pressure across many segments of the market.

“Supply levels were expected to rise in 2025. However, the growth was higher than expected, especially for apartment condominium and row homes,” said Ann-Marie Lurie, CREB® Chief Economist. “This weighed on prices in those sectors enough to offset the annual gains reported for both detached and semi-detached homes.”

She added that adjustments in both supply and demand varied across the city, resulting in different price trends by location, price range, and property type, with some pockets continuing to favour sellers while others shifted toward buyer-friendly conditions.

Calgary Real Estate Prices: 2025 Annual Performance

On an annual basis, the average total residential benchmark price in Calgary was $577,492, down –2% year-over-year. However, price performance varied significantly by property type:

Detached homes: +1% year-over-year
Semi-detached homes: +3% year-over-year
Apartment-style condos: –3% year-over-year
Row homes: –2% year-over-year

Higher-density housing types experienced the most downward pressure as supply growth outpaced demand, while detached and semi-detached homes continued to benefit from steadier demand and more balanced inventory levels.

Regional Price Trends

Among Calgary’s districts, the North East recorded the largest price decline in 2025. While improved supply played a role, it’s important to note that this district also experienced the strongest price growth over the previous two years, making some level of adjustment more pronounced in comparison to other areas of the city.

Looking Ahead: Calgary Housing Market 2026 Forecast

For the first time in three years, Calgary is entering the new year with healthier inventory levels across much of the market. These conditions set the stage for a more stable and measured environment heading into 2026.

Key Takeaways

Total sales: 22,751 (–16% year-over-year; in line with long-term trends)
New listings: Over 40,000 (+9% year-over-year)
Market shift: From seller-favoured to more balanced conditions
Average benchmark price: $577,492 (–2% year-over-year)
Detached homes: +1% year-over-year
Semi-detached homes: +3% year-over-year
Apartment condos: –3% year-over-year
Row homes: –2% year-over-year
North East district: Largest price decline following strong prior gains
Outlook: Entering 2026 with improved inventory and more balanced conditions