Although home sales fell 16.5% year-on-year to 2,286 units, new listing sales increased 11.2% year-on-year, which helped bring market conditions back to balanced territory.
According to the Calgary Real Estate Board (CREB), supply earnings in apartments and sectors have the strongest, with inventory now exceeding 30% higher than the long-term trend.
“Supply improves in rental, resale and new home markets, offering more options for those considering their housing options,” said Ann-Marie Lurie, chief economist at Creb. “The additional options add up, loan rates, ongoing uncertainty and concerns about price adjustments do not drop further, which puts many potential buyers on the field.”
This softening of demand led to a city-wide benchmark price drop to $586,200 in June, a 3.6% drop from last year. Among apartments and industries, the decline is most noticeable, down more than 3% each year, while independent prices are relatively stable.
Independent markets remain stable while connected segments face pressure
Sales of detached homes totaled 1,194 units in June, about 6% lower than last year and last month. Among high-priced housing facing competition for new families, the pullback is most obvious in competition between the city center and the Northeast.
Still, independent house prices are largely stable, with benchmark prices below 1% year-on-year to $764,300. Only Northeast saw buyers preferred conditions, where the annual price drop was caused by 4%.
Among the attached homes, the prices of semi-detached properties increased moderately, with the June benchmark reaching $696,400, up 1% year-on-year from May. This masked significant regional differences, setting record highs in downtown, but annual prices fell by more than 2% in the North, Northeast and East.
The impact of increased supply on the bank and apartment segments is more obvious. Row Home inventory rose to 1,167 units in June as sales-to-new listing ratio dropped to 50%. Prices fell to $450,300, down more than 3% from last year. In the Northeast, prices fell by nearly 6% year-on-year.
In the apartment space, sales and listings are scattered, but inventory continues to climb due to slow absorption. Supply in the past few months was close to four in the city, and the benchmark price dropped another to $333,500, which is also down more than 3% from last year. The steepest declines were recorded in the northern, northeastern and southeastern regions.
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Ann-Marie Lurie Calgary Calgary, Alberta Home Sales Sales Calgary Real Estate Board Creb Prairies Real Estate
Last modified: July 2, 2025
