March 2025 saw significant shifts in Calgary’s real estate market, with declining sales but rising inventory levels, signaling a move toward more balanced market conditions. The surrounding areas, including Airdrie, Chestermere, Cochrane, Okotoks, Strathmore, and Langdon, continued to experience price growth despite varying sales trends.
Calgary Housing Market Overview:
Sales Activity: Calgary recorded 1,720 home sales, a 19% decline from March 2024, though sales remained above historical averages.
New Listings and Inventory: New listings increased by 4% year-over-year to 2,832 units, pushing total inventory to 4,187 units, a 75% rise from last year. This led to 2.4 months of supply, indicating a shift away from extreme seller’s market conditions.
Benchmark Prices: The unadjusted residential benchmark price rose to $587,600, a 0.93% increase from March 2024. While detached and semi-detached home prices remained stable, apartment and row-style homes saw slight declines.
Regional Market Insights:
Airdrie:
Sales: 160 units in March 2025.
Benchmark Price: $544,900 (5.5% YoY increase).
Cochrane:
Benchmark Price: $686,800 (5.5% YoY increase).
Okotoks:
Benchmark Price: $715,500 (5.2% YoY increase).
Chestermere:
Benchmark Price: $818,100 (4.4% YoY increase).
Strathmore:
Benchmark Price: $568,600 (7.1% YoY increase).
Langdon:
Data not explicitly available in the CREB® report.
Conclusion:
Despite a decline in sales across Calgary and its surrounding areas, home prices have continued to increase, driven by limited supply in certain markets. With rising inventory levels, buyers are seeing more options, while sellers may need to adjust expectations. Market conditions appear to be shifting from an extreme seller’s market toward a more balanced environment, particularly for higher-density housing segments.
For those considering buying or selling, staying informed about inventory trends, pricing shifts, and interest rates will be crucial in navigating the evolving real estate landscape.
