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

Inventory Levels Improve After Three Tight Years

The Calgary housing market in January 2025 showed encouraging signs of improved supply after three consecutive years of limited choice for buyers. Inventory levels climbed to 3,639 units—marking a 70% increase year-over-year. While this is a significant gain, it still falls short of the 4,000+ units typically available in January.

Much of this growth came from apartment-style condominiums, which saw some of the largest inventory gains.

Sales and Supply Conditions

January recorded 1,451 sales, down 12% compared to last year. Despite this decline, sales activity remains nearly 30% higher than Calgary’s long-term January averages.

• New listings rose to 2,896 units, outpacing sales and boosting supply.

• Months of supply improved to 2.5—up from just one month last January but still considered low for this time of year.

• By property type, semi-detached homes saw the tightest conditions (under two months of supply), while apartment-style units had the highest at 3.5 months.

According to Ann-Marie Lurie, Chief Economist at CREB®, “Supply levels are expected to improve this year, contributing to more balanced conditions and slower price growth. However, the adjustment in supply is not equal amongst all property types. Compared with sales, we continue to see persistently tight conditions for detached, semi-detached and row properties while apartment condominiums show signs of excess supply for higher priced units.”

Calgary Home Prices January 2025

The Calgary benchmark price in January 2025 was $583,000. This represents:

• Stability compared to December 2024 levels.

• Nearly a 3% increase over January 2024.

• Varying price growth depending on property type and district, with detached and semi-detached homes remaining under tighter market conditions.

What This Means for Buyers and Sellers

The start of 2025 brings more housing options in Calgary, especially in the condo market. For buyers, this means more choice and slightly less competition compared to last year. For sellers, especially in detached and semi-detached segments, conditions remain favorable as demand continues to outpace supply.

If supply continues to build through the spring, the market may see a shift toward more balance, easing price pressures and creating opportunities for both buyers and sellers.

Key Takeaway

January 2025 marked a turning point with rising inventory and more balanced conditions emerging in parts of the market. While Calgary home prices remain strong, the gap between property types is widening. Buyers looking at condos may find more leverage, while detached and semi-detached sellers still hold the advantage.