Calgary Housing Market Update — July 2025

📊 CREB July Highlights

• Sales-to-new‑listings ratio hovered at ~50 %, signaling a balanced market, though inventory levels remain elevated. In July, there were 1,014 new listings vs. 508 sales (CREB).

• Condo benchmark price was $329,600, down ~1 % from June and ~5 % year‑over‑year; however, year‑to‑date prices remain broadly stable across most districts (CREB).

• Residential inventory stayed high: ~2,097 condo listings, translating to >4 months of supply—highest since 2021 (CREB).

Key June Metrics (CREB Data)

• Total active listings: ~6,941 units—up nearly 83% from June 2024 (repcalgaryhomes.ca).

• Average home price in June: ~$580,100, down 1.5% year‑over‑year; detached homes averaged $694,000 (up ~0.4 %), townhouses $462,200 (–1.8 %), condos $340,500 (–2.5 %) (nesto.ca).

• Months of supply rose to ~3.04 months, meaning more balance than spring but shifting toward buyer advantage in some segments (nesto.ca).

National & Canada-Wide Trends: July 2025 in Context

CREA & Stats Canada Snapshot

• Across Canada at end‑June, 206,435 MLS listings, up 11.4 % YoY, with a sales-to-new‑listings ratio of ~50 %—just below long‑term average of 54.9 % (creastats.crea.ca).

• National MLS® HPI fell –0.2 % month-to-month and –3.7 % year-over-year in June 2025 (creastats.crea.ca).

Supply & Forecast

• CREA reports a national HPI decline of 3.7 % YoY by June; Canadian home sales fell ~3.7 % year over year in March, marking the weakest March since 2009 (reuters.com).

• CMHC projects a 2 % drop in national home prices in 2025, with Ontario and B.C. seeing larger declines; markets later stabilize into 2026 (cmhc-schl.gc.ca).

• A Reuters poll downgraded the 2025 national price outlook to –2 %, citing trade-war uncertainty; Toronto expected –4%, Vancouver –2% (reuters.com).

Comparing Calgary to Other Major Markets

Calgary is more resilient than B.C. and Ontario but cooling compared to the hot markets in Quebec. Its higher inventory is creating softer pricing dynamics—especially in attached and condo segments.

Why Calgary Is Holding Up Better

• Lower exposure to foreign investment and speculative activity keeps volatility lower than in Toronto/Vancouver.

• Balanced affordability, with average prices near $580 K, makes Calgary more accessible than cities exceeding $1 M on average.

• Despite tightening, Alberta outperforming national trends, with modest gains overall and smaller declines than coastal provinces (nesto.ca, WOWA).

Takeaways

Looking to buy or sell in Calgary? Mid‑summer 2025 offers strong opportunity:

• Buyers benefit from greater choice and softer condo pricing.

• Sellers still find balanced conditions in detached and semi‑detached homes, but should monitor local inventory trends.

• Overall pricing is cooling modestly in line with national forecasts.

Forward Outlook to End of 2025

• CREB projections expect continued moderation into late 2025, assuming inventory remains elevated and demand cautious (CREB).

• CMHC and Reuters polls suggest a 2 % national price decline through year‑end, stabilization into 2026 (though city‑level differences are significant) (cmhc-schl.gc.ca, reuters.com).

• Calgary may follow this trend: modest declines overall, followed by stabilization next year.

Final Thought

Calgary’s housing market in July 2025 reflects a maturing phase: inventory has surged, leading to balanced to slight buyer‑advantage conditions, especially for condos and attached homes. Detached prices remain steadier but showed moderation. Compared to national averages and overheated city markets like Toronto and Vancouver, Calgary is holding its ground—providing opportunity if you’re planning strategic entry or exit this summer.

Let me know if you’d like market projections or neighbourhood‑level insights as we head into fall.

📢 Sources

Anchored sources used throughout: CREB stats, Stats Canada, CMHC, Reuters polls, and Marcus & Millichap.