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 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! 👇
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