Calgary Housing Market Update – December 2025
A Year-End Shift Toward Balance
As we close out 2025, Calgary’s housing market has clearly transitioned into more balanced conditions after several years of strong seller-driven activity. While sales slowed compared to last year, rising supply throughout the year helped ease pressure on prices and competition, particularly in higher-density housing.
Inventory improved across all segments in 2025, supported by record-high housing starts and increased new listings. At the same time, demand moderated due to slower migration growth and ongoing economic uncertainty earlier in the year. Together, these factors helped move the resale market into balance by the second half of the year.
According to Ann‑Marie Lurie, Chief Economist with CREB®, supply growth was strongest in apartment condominiums and row homes, which weighed on prices in those segments. Detached and semi-detached homes, however, remained more resilient, with modest annual price gains.
Overall, the annual average residential benchmark price in 2025 was $577,492, down 2% year-over-year, reflecting softer conditions in multi-family housing.
Market Highlights
Detached Homes
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Benchmark Price: $752,767 (↑1% year-over-year)
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Condition: Balanced by the second half of the year
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Trend: Price declines in the North East and East due to higher inventory, while City Centre prices rose over 3% as supply remained tight
Semi-Detached Homes
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Benchmark Price: $685,850 (↑3% year-over-year)
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Condition: Balanced, though slower to adjust than detached homes
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Trend: Stronger gains in City Centre offset modest declines in the North, where competition from new homes increased
Row Homes
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Benchmark Price: Down 2% year-over-year
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Condition: Balanced to buyer’s market by late 2025, depending on district
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Trend: Price stability in central and west areas, with declines in the North and North East due to added supply and new-home competition
Apartment Condominiums
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Benchmark Price: Down nearly 3% year-over-year
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Condition: Buyer’s market in most districts by the second half of the year
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Trend: Elevated supply from both resale and rental development weighed on prices, with the largest declines seen in the North East
What This Means to You
For Buyers:
Improved inventory levels mean more choice and negotiating power—especially in the apartment and row home segments. Balanced conditions across much of the market create a healthier environment for buyers who may have been sidelined in previous years.
For Sellers:
Pricing and presentation matter more than they have in recent years. Detached and semi-detached homes are holding value well, but sellers in higher-density segments should expect more competition and longer selling timelines.
For Investors:
Softening prices in select segments may present opportunities, particularly for well-located apartments and townhomes where long-term rental demand remains strong as Calgary continues to grow.
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