In February 2025, the Calgary real estate market displayed signs of stabilization, with inventory levels rising and price growth moderating across various property types.
Overall Market Trends
Sales Activity: Calgary recorded 1,721 sales in February, marking a 19% decrease from the previous year. Despite this decline, sales remained above historical averages for the month.
New Listings and Inventory: New listings reached 2,830 units, aligning with historical norms. This influx contributed to a substantial 76% year-over-year increase in inventory levels, totaling 4,145 units. The months of supply rose to 2.4, more than double the figure from the same period last year.
Benchmark Prices: The unadjusted benchmark price for residential properties was $587,600, showing a modest 1% increase compared to February 2024.
Detached Homes
Sales and Listings: Sales declined by nearly 20% year-over-year to 765 units, while new listings saw a 6% increase, totaling 1,265 units. This dynamic led to a 61% rise in inventory levels, reaching 1,698 units.
Prices: The benchmark price for detached homes rose by approximately 5% from the previous year, reaching $760,500. Notably, the City Centre district experienced an 8% price increase.
Semi-Detached Homes
Market Activity: New listings increased by 7% to 240 units, while sales decreased by nearly 14%, totaling 165 units. Inventory levels grew by 46% compared to the previous year.
Pricing: The benchmark price for semi-detached homes was $683,500, reflecting a 7% year-over-year increase. The City Centre and South districts led this growth with approximately 8% increases.
Row/Townhouses
Supply and Demand: Sales decreased by over 9% year-over-year, while new listings rose by almost 4%. Inventory levels more than doubled to 655 units, though they remain below historical averages for February.
Price Trends: The benchmark price for row homes was $446,880, up nearly 3% from the previous year. The East district notably experienced a significant 12% price increase.
Apartment Condominiums
Market Dynamics: Sales reached 473 units, a 26% decrease from the previous year but still above long-term averages for February. New listings remained stable year-over-year at 852 units, a record high for the month. Inventory levels increased by 90%, leading to a months of supply figure of 3.1.
Pricing: The benchmark price for apartments was $334,200, approximately 4% higher than February 2024. The West district saw the largest price growth at over 8%.
Regional Market Highlights
Airdrie: Sales declined by nearly 9% to 123 units, while new listings increased by 23% to 225 units. Inventory levels more than doubled to 345 homes, resulting in a months of supply figure of nearly three months. The benchmark price was $537,600, a 1.6% year-over-year increase.
Cochrane: Both sales and new listings exceeded long-term averages, with 75 sales and 126 new listings. Inventory rose by over 48% year-over-year to 196 units, leading to a months of supply figure of 2.6. The benchmark price increased by over 5% to $577,100.
Okotoks: Sales decreased by 4% to 45 units, while new listings grew by 7% to 60 units. Inventory levels remained low at 69 units, resulting in a months of supply figure of 1.5. The benchmark price was relatively stable compared to January, with a slight increase of under 1% year-over-year.
Chestermere
Chestermere's real estate market in February 2025 exhibited notable trends, reflecting both stability and growth across various property segments.
Inventory and Listings
The total number of active listings in Chestermere stood at 168, a decrease from 188 in December 2024 and 216 in November 2024. This decline indicates a tightening market, potentially leading to increased competition among buyers.
Average and Median Prices
Average Price: The average home price in Chestermere was $1,012,286, reflecting a 2.28% decrease from December 2024's average of $1,035,371. Despite this monthly dip, the market has shown resilience over the past months.
Median Price: The median home price experienced a slight increase of 0.70%, rising from $673,131 in December 2024 to $677,846 in January 2025. This uptick suggests sustained demand for mid-priced properties.
Price Trends by Property Size
Multi-Million Dollar Homes: This segment, comprising 42 properties, had an average price of $1,713,341, with an average of 3.76 bedrooms and 3.28 bathrooms.
Newly Built Homes: Among 113 newly constructed homes, the average price was $731,219, offering modern amenities and designs.
Reduced Price Homes: There were 6 homes with reduced prices, averaging $784,597, potentially presenting opportunities for value-seeking buyers.
Benchmark Price
The benchmark price for detached homes in Chestermere reached $790,500, marking a significant 10.1% increase compared to the previous year. This substantial rise underscores the strong demand and limited supply in the detached housing market.
Overall, the Calgary real estate market in February 2025 showed signs of transitioning towards more balanced conditions. While sales activity has moderated, increased inventory levels provide buyers with more options, and price growth has stabilized across various property types.
