Calgary Housing Market March 2025 | Sales, Supply & Price Trends

Economic Uncertainty Impacts Sales

The Calgary housing market in March 2025 faced headwinds from ongoing economic uncertainty, particularly tariff threats that weighed on consumer confidence. Sales fell 19% year-over-year, totaling 2,159 units. The slowdown was felt across all property types, with the steepest pullbacks occurring in higher-density housing segments like apartments and row homes.

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

“It is not a surprise to see a pullback in sales given the uncertainty. However, it is important to note that sales still remain stronger than anything reported throughout 2015 to 2020, where our economy faced significant economic challenges and job loss. Nonetheless, easing demand has been met with gains in new listings and rising inventories, helping our market shift back toward balanced conditions, following four consecutive years where the market favoured the seller.”

Inventory and Supply Trends

March saw over 4,000 new listings, bringing the sales-to-new-listings ratio down to 54%. This shift supported further inventory gains, with total residential inventory reaching 5,154 units.

• Months of supply: 2.4 (up from last year’s extremely tight conditions)

• Market balance: More favorable for buyers compared to the past four years, but conditions vary by property type and price range

Detached and semi-detached homes remain relatively tight, while apartment and row homes are showing more supply, particularly in the higher-density segment.

Calgary Home Prices: March 2025

Improving supply helped stabilize Calgary real estate prices in March 2025 after years of steep gains.

• Residential benchmark price: $592,500 (stable compared to both February and March 2024)

• Detached and semi-detached homes: Holding peak prices with continued modest increases

• Apartment and row homes: Slightly below last year’s peak values

What This Means for Buyers and Sellers

For buyers, easing demand and higher inventory are creating more balanced opportunities than seen in recent years. Those shopping in the apartment and row markets may find more choice and negotiating power. Sellers of detached and semi-detached homes, however, remain in a relatively strong position as prices continue to hold near peak levels.

Key Takeaway

March 2025 underscored the effect of broader economic uncertainty on housing activity. While sales slowed by 19%, Calgary home prices remain stable and inventory is climbing, shifting the market toward balance after years of favoring sellers.