What’s really happening in Calgary’s housing market right now?
Home prices are sliding, listings are rising, and yet sellers are still getting strong offers. Here’s what you need to know about how the Calgary market is shifting—and how to make smart moves whether you’re buying or selling.
Prices Are Down, But Not Across the Board
For the fourth month in a row, Calgary’s benchmark home price has dipped—now sitting at just under $583,000, down 3.9% year-over-year. But not all property types are experiencing the same trend.
Detached homes are holding steady at $761,800, down less than 1%. Semi-detached properties are actually up 1.4%, while townhomes and apartment condos have seen the sharpest declines, down nearly 4% and 5% respectively.
So what does that mean for you? It depends on your price point and the type of home you’re eyeing.
Inventory Is Rising, But Still Normalizing
There were just over 6,900 active listings in July—a huge 66% increase from last year. But let’s put that in context: this level of inventory is still closer to long-term, pre-pandemic norms. After years of record-low supply, this shift brings more balance to the market.
That said, months of supply rose to 3.3—up 88% year-over-year. Homes are taking longer to sell, with average days on market up to 37 from just 24 a year ago. This gives buyers more breathing room, but not enough to start throwing out lowball offers.
Sellers Still Have the Upper Hand—If They’re Smart
Despite all this, the average seller is still getting 98% of their list price. That means if you’re pricing your home right, you’re likely to get close to asking—even in a slower market.
But there’s no room for testing the market. Homes that are overpriced sit, sometimes without a single showing. And in today's environment, that first impression matters more than ever.
If you're planning to sell, make sure your home shows well and is priced ahead of the trend—not behind it.
Buyers: Know Where to Look
While the overall market is shifting, some communities are holding strong while others are clearly moving into buyer territory.
Stronger markets: South, Southeast, West, and Northwest Calgary remain relatively competitive, especially for detached and semi-detached homes.
Softening areas: East, Northeast, and some City Centre districts are seeing year-over-year price drops of 7% or more, especially in the apartment segment.
If you're buying, understanding local conditions is critical. A condo in the Northeast? You might be able to negotiate more aggressively. A duplex in the South? Expect competition.
Property Type Breakdown
Detached homes: Balanced market with 3 months of supply; sellers are still getting 98%+ of asking.
Semi-detached: Still strong, especially in the South where months of supply is under 2.
Row townhouses: Inventory is building, but demand is holding better than apartments.
Apartments: Showing the most signs of weakness, with nearly 4.2 months of supply and declining prices.
Final Thoughts: The Market Is Shifting, Not Crashing
This isn’t 2008. What we’re seeing is a normalization after an intense post-pandemic market. If you’re buying, you have more options. If you’re selling, you can still get a great price, but only if you price strategically.
Either way, you need a plan tailored to your situation.
Ready to make your next move? Here are your next steps:
🗓 Schedule a Call: https://shorturl.at/ngc82
🏡 INSTANT Home Evaluation: https://shorturl.at/IIbFA
📈 Monthly Market Report: https://shorturl.at/3nPca
🌇 The Most Popular Areas in Calgary Guide: https://shorturl.at/eVwae