Calgary Housing Market April 2025 | Balanced Conditions & Price Trends

Inventories Rise, Bringing Balance to the Market

The Calgary housing market in April 2025 saw inventory levels climb to 5,876 units, more than double last year’s exceptionally low supply. While the year-over-year increase is striking, current inventory levels are consistent with long-term April averages.

Sales reached 2,236 units—22% below April 2024 but in line with historical trends. This shift reflects the broader impact of economic uncertainty, which continues to weigh on consumer confidence and housing activity.

Ann-Marie Lurie, Chief Economist at CREB®, noted:

“Economic uncertainty has weighed on home sales in our market, but levels are still outpacing activity reported during the challenging economic climate experienced prior to the pandemic. This, in part, is related to our market's situation before the recent shocks. Previous gains in migration, relatively stable employment levels, lower lending rates, and better supply choice compared to last year’s ultra-low levels have likely prevented a more significant pullback in sales and have kept home prices relatively stable.”

Balanced Conditions Emerging

With nearly three months of supply, April marked a shift toward balanced market conditions. However, the dynamics vary by property type and price point:

• Detached and semi-detached (lower-priced): Still facing limited supply, keeping competition higher.

• Row and apartment-style homes: Experiencing more broad-based balance as inventory expands.

Calgary Home Prices: April 2025

The increase in supply has helped ease the upward pressure on prices that defined recent years.

• Month-over-month: Benchmark prices remained relatively stable across all property types.

• Year-over-year: Detached and semi-detached homes are priced more than 2% higher than April 2024.

• Apartments and row homes: Largely unchanged compared to last year.

What This Means for Buyers and Sellers

For buyers, especially in the condo and townhouse segments, April brought more selection and less urgency than seen in the past few years. Sellers of detached and semi-detached properties may still benefit from tighter conditions in the lower price ranges, but overall, the market is showing signs of greater equilibrium.

Key Takeaway

April 2025 highlighted the impact of rising inventory on Calgary’s housing market. With supply levels normalizing, sales moderating, and Calgary home prices stabilizing, the city is entering a more balanced phase after years of steep growth.