Calgary condo market

Calgary Real Estate Market Update – February 2025: More Listings, Fewer Sales?

TL;DR – In February 2025, Calgary saw a massive increase in new listings, with condos hitting a record high for February at 852 new listings. Total inventory surged 76% year-over-year, while sales dropped 19% compared to last year. Prices remain stable overall, but some areas saw declines. With shifting market conditions, buyers have more options, and sellers need to price strategically.

Are We Seeing a Market Shift in Calgary?

February 2025 brought some of the biggest inventory increases in recent years. New listings surged, while sales slowed down, creating a very different landscape compared to last year’s ultra-competitive market.

According to CREB’s February report, here’s where things stand:

  • 1,721 sales (↓ 19% year-over-year)
  • 4,145 active listings (↑ 76% from Feb 2024)
  • Sales-to-new-listings ratio: 61% (Still higher than pre-pandemic trends)
  • Benchmark price: $587,600 (↑ 1% YoY, stable since late 2024)

💡 What does this mean?
More listings = more choice for buyers. But sellers must be competitive with pricing and marketing.

Inventory Surge: What’s Behind It?

The major increase in new listings was most noticeable in homes priced under $500,000—particularly in condos and townhouses.

📈 Key Inventory Highlights:

  • Condos: 852 new listings (Highest EVER for February)
  • Row/Townhomes: Up 4% in new listings
  • Detached homes: New listings up 6%
  • Semi-detached: New listings up 7%

🏡 Why the increase?

  • More investors listing as prices stabilize
  • More homeowners looking to cash in
  • Rising new construction supply in condos and townhomes

💡 Buyers’ Advantage: More listings = less bidding war madness and more negotiation power.

Calgary high-rise condo building with multiple 'For Sale' and 'Price Cut' signs, representing the February 2025 Calgary real estate market shift with rising inventory and fewer sales

Calgary Real Estate Prices – Holding Steady… For Now

Despite the inventory flood, prices are still relatively stable. But some areas and property types are seeing early signs of softening.

🏠 Price Breakdown by Property Type:

  • Detached homes: $760,500 (↑ 5% YoY)
  • Semi-detached: $683,500 (↑ 7%)
  • Row/Townhomes: $446,880 (↑ 3%)
  • Condos: $334,200 (↑ 4%)

📉 Notable Trends:

  • City Centre & North Calgary saw slight price declines
  • East Calgary had the strongest price growth (↑ 3%)

💡 Sellers: Pricing high and waiting is not a winning strategy anymore.

Are We Entering a Buyer’s Market?

While inventory is up, we’re not fully in a buyer’s market yet—but we’re shifting toward more balanced conditions.

📊 Market Indicators:
✔ Sales-to-new-listings ratio is 61% (Balanced, but cooling)
✔ Months of supply at 3.1 months (Still low, but rising fast)
✔ Condo inventory jumped 90% YoY (Biggest shift so far)

What needs to happen for a true buyer’s market?

  • Inventory needs to keep rising
  • Sales need to keep slowing
  • Sellers start adjusting prices downward

If this trend continues into spring, we could see price corrections in the coming months.

What This Means for Buyers & Sellers

For Buyers 🎉

✔ More listings = More choice
✔ Less competition = Better deals possible
✔ Negotiation power is improving

🔴 What to watch: Interest rates & spring market trends.

For Sellers ⚠️

✔ Well-priced homes still sell FAST
✔ Detached homes remain in demand
✔ Marketing & presentation matter more than ever

🔴 What to avoid: Overpricing. Buyers have options now!

Expert Insight: What’s Next for Calgary’s Market?

📢 Ann-Marie Lurie, CREB’s Chief Economist:
“While supply levels are improving, adjustments are not uniform across all property types. Detached, semi-detached, and row homes remain tight, while condos are seeing growing supply pressures.”

📌 Translation:

  • Detached & townhouses = Still competitive
  • Condos = Rising supply, potential price softening

🏡 Should You Buy or Sell in 2025?
👉 Buyers: If you find a good deal, lock it in before rates change.
👉 Sellers: Price competitively, or risk sitting on the market longer.

Final Thoughts: Where Is Calgary’s Market Heading?

February 2025 showed clear signs of change:
✅ More listings than we’ve seen in years
✅ Buyers gaining leverage in some segments
✅ Prices holding—for now

💡 Spring will be the real test. If inventory keeps growing, we might finally see a shift to a true buyer’s market.

📢 What do YOU think? Will Calgary prices drop this year? Drop a comment below! 👇

Looking for more info?

Get in touch with how we can help: https://jayschultz.ca/about/

The Ultimate Guide to Buying Your First Condo in Calgary

TL:DR – Buying a condo in Calgary requires understanding the market, setting a budget with mortgage and condo fees, and choosing a location with long-term value. Working with a real estate agent ensures a smooth process. Reviewing condo fees, reserve funds, and special assessments helps avoid unexpected costs. A well-maintained condo can maximize investment value.

Calgary homebuyers - full guide of steps to buying a condo

Introduction: Why Condos Are a Great Entry Point into Calgary Real Estate

Buying your first home is a milestone, and for many, a condo is the perfect starting point. Calgary’s vibrant neighborhoods, affordable housing options, and growing condo market make it a top choice for first-time buyers. Whether you’re looking for a home close to downtown or a quieter retreat with modern amenities, Calgary offers something for everyone. Let’s dive into everything you need to know about buying your first condo in Calgary.

Step 1: Understanding the Calgary Condo Market

The Calgary condo market is dynamic, with prices and inventory fluctuating based on demand. Recently, increased inventory has created opportunities for buyers to find great deals. Popular neighborhoods like Bankview, Beltline, and Mission are hot spots for condos, offering proximity to downtown and vibrant community life.

When choosing a condo, consider:

  • Proximity to work, transit, and lifestyle amenities.
  • Neighborhood growth potential for long-term value.
  • Market trends: Is it a buyer’s or seller’s market?

Calgary NW - condo buying considerations

Step 2: Setting Your Budget

Before you start shopping, it’s crucial to determine your budget. Remember to account for:

  • Mortgage costs: Get pre-approved to know what you can afford.
  • Condo fees: These vary but typically cover building maintenance, utilities, and amenities.
  • Closing costs: Expect expenses like legal fees, home inspections, and property taxes.

A clear understanding of your finances will save time and help you focus on condos within your range.

Calgary sellers - costs to condo ownership

Step 3: Finding the Right Condo

Finding the perfect condo is about more than price—it’s about lifestyle. Do you want to be close to the hustle and bustle of 17th Avenue or nestled in a quiet community like Altadore?

Key factors to consider:

  • Location: Walkability, proximity to transit, and neighborhood vibe.
  • Building amenities: Look for things like fitness centers, parking, and pet-friendly policies.
  • Size and layout: Make sure the space works for your current and future needs.

Calgary buyers - find the right condo

Step 4: Navigating the Purchase Process

The home-buying process can feel overwhelming, but it doesn’t have to be. Here are the key steps:

  1. Partner with a local Calgary real estate agent (like the Jay Schultz Real Estate Group) to guide you.
  2. View potential condos and compare features.
  3. Make an offer and negotiate terms with the seller.
  4. Finalize financing and close the deal.

Your agent will help you navigate these steps with confidence and expertise.

Calgary NW - condo purchase process

Step 5: Understanding Condo Fees and Maintenance

Condo fees are a critical part of ownership, covering building upkeep, shared amenities, and sometimes utilities. These fees vary depending on the building’s size, age, and amenities. Be sure to:

  • Review the building’s financial documents, including reserve fund studies.
  • Ask about upcoming special assessments for major repairs.

Understanding these costs upfront helps you avoid surprises later.

Calgary NW - condo fee breakdown

Step 6: Maximizing Your Investment

Buying a condo isn’t just about finding a home—it’s also an investment. To maximize your investment:

  • Keep your condo in good condition with regular maintenance.
  • Add value with upgrades, such as modernizing the kitchen or bathrooms.
  • Consider renting out the condo if your plans change.

In Calgary, condos in desirable neighborhoods often attract strong rental demand, making them appealing for investors.

Calgary homebuyers - condo investments

Step 7: Frequently Asked Questions

Q: Are condos a good investment in Calgary?
A: Yes, especially in neighborhoods with high demand, proximity to amenities, and potential for long-term growth.

Q: What’s the average condo fee in Calgary?
A: Fees typically range from $300 to $600 per month, depending on the building and amenities.

Q: Can I rent out my condo?
A: Most condos in Calgary allow rentals, but always check the building’s bylaws first.

Step 8: Conclusion: Your Next Steps

Buying your first condo in Calgary is an exciting journey, and having the right team by your side makes all the difference. From setting your budget to finding the perfect neighborhood, there’s a lot to consider—but you don’t have to do it alone.

Calgary homebuyers and calgary sellers - the steps to condo ownership

Thinking about buying your first condo? Reach out to the Jay Schultz Real Estate Group today for expert guidance and personalized advice. Together, we’ll find the perfect condo to fit your lifestyle and goals.