Calgary home sales figures fell in May year-over-year but remained above trends, with the housing market continuing to move toward more balanced conditions, the city’s real estate board reported Monday. Read More
’Recent pullbacks in sales and inventory have helped shift us toward balanced conditions,’ Calgary Real Estate Board economist says
‘Recent pullbacks in sales and inventory have helped shift us toward balanced conditions,’ Calgary Real Estate Board economist says
Article content
Calgary home sales figures fell in May year-over-year but remained above trends, with the housing market continuing to move toward more balanced conditions, the city’s real estate board reported Monday.
Article content
Article content
The completion of townhomes and apartment-style condos helped to push prices down in those sectors, while prices for detached and semi-detached homes varied widely depending on where supply was available, the Calgary Real Estate Board said in its monthly report.
Article content
Story continues below
Article content
“Compared to last year, easing sales and rising inventories are consistent trends across many cities, as uncertainty continues to weigh on housing demand. However, prior to the economic uncertainty, Calgary was dealing with seller market conditions, and the recent pullbacks in sales and inventory have helped shift us toward balanced conditions taking the pressure off prices,” said CREB chief economist Ann-Marie Lurie in a news release issued Monday. “This is a different situation from some of the other larger cities, where their housing markets were struggling prior to the addition of economic uncertainty.”
Article content
Article content
Noon News Roundup
Article content
The residential unadjusted benchmark price in Calgary was $589,900 for May 2025, 2.5 per cent lower than the same month a year earlier and slightly lower than in April 2025, the real estate board said.
Article content
The inventory of available housing in Calgary last month was almost twice as high as it was in the same period a year ago, leading to more than 2½ months of supply on the market.
Article content
Story continues below
Article content
Price gains for detached homes were driven by those costing $600,000 or more, CREB said, with a city-wide unadjusted benchmark price of $769,400, similar to April 2025 and one per cent higher than last May, while still reaching higher than last year’s seasonal peak price.
Article content
Read More
-
RBC economist says housing affordability could improve, tariffs a complication
-
‘A dire need’: Calgary Affordable Housing Foundation launches with plans for 140 new units
-
Advertisement embed-more-topic
Story continues below
Article content
“Sales activity has slowed across most price ranges, supporting a shift toward more balanced conditions and relative stability in prices,” the real estate board added. “However, districts that are facing more competition from new home product or are seeing a larger pullback in demand are starting to show some signs of elevated supply.”
Article content
Conditions eased particularly in northeast Calgary, according to CREB, balancing the price gains observed in the board’s City Centre, West, and North West districts.
Article content
The semi-detached market saw a slow pace of inventory growth, with only two months of supply and benchmark prices reaching $697,300.