Calgary Housing Market Update August 2025 | Prices Ease as Supply Rises

Price Declines Mostly Driven by Higher-Density Homes

The Calgary real estate market in August 2025 continued to shift as improving supply choice altered market dynamics. Over the past several months, rising inventory has placed downward pressure on prices, especially for apartment and row-style properties, while detached and semi-detached homes have seen only modest adjustments.

Calgary Home Prices in August 2025

The unadjusted total residential benchmark price was $577,200 in August, down from the previous month and nearly 4% lower than August 2024.

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

“Perspective is needed when it comes to price adjustments. The most significant price adjustments are occurring for row and apartment style homes as they are also the product type that are facing the largest gains in supply choice. Meanwhile price adjustments in the detached and semi-detached markets range from modest price growth in some areas to larger price declines in areas with large supply growth. Overall, recent price adjustments have not offset all the gains that have occurred over the past several years.”

Sales and Supply Trends

In August, 1,989 sales were reported, nearly 9% lower year-over-year. While sales have slowed compared to the exceptional levels seen over the past four years, activity remains above long-term averages, reflecting relatively strong demand.

On the supply side, new listings remained elevated, which kept the sales-to-new-listings ratio below 60% and pushed inventory to 6,661 units—the highest August level since 2019.

As a result, the months of supply rose to 3.4 months, a sharp increase from the seller’s market conditions of the past four years, though still well below the buyer’s market levels experienced before the pandemic.

Market Conditions by Property Type

• Apartments and row homes: Facing the steepest price declines as higher supply levels weigh on values.

• Detached and semi-detached homes: Showing more variation, from modest price growth in some areas to larger declines where supply has surged.

The result is a market that is far more balanced compared to last year, though conditions continue to vary significantly by property type, location, and price range.

Key Takeaway

• Benchmark price fell to $577,200, down nearly 4% year-over-year.

• Apartment and row homes are seeing the steepest price declines due to higher supply.

• Detached and semi-detached homes remain more stable, with modest shifts depending on location.

• Sales dropped 9% year-over-year but remain above long-term trends.

• Inventory reached 6,661 units, the highest August supply since 2019.

• 3.4 months of supply signals balanced conditions after years of a strong seller’s market.