Price adjustments mostly driven by apartment condos and townhouses
The Calgary housing market continues to stabilize as we head into summer, with both buyers and sellers navigating a market that’s shifting closer to balance. According to the latest data from the Calgary Real Estate Board (CREB®), May sales declined 17% year-over-year, largely due to a sharp pullback in the apartment condominium sector. Despite this, 2,568 homes sold in May, which is still 11% higher than the long-term average for the month and an improvement over April’s numbers.
New listings continued to climb in May, outpacing sales and pushing inventory levels higher. However, as both sales and listings rose, the months of supply held steady at 2.6, indicating a relatively balanced market—not yet favoring either side broadly.
According to Ann-Marie Lurie, Chief Economist at CREB®, this stabilization stands in contrast to other major Canadian cities:
“Compared to last year, easing sales and rising inventories are consistent trends across many cities… But Calgary was already experiencing strong seller’s market conditions before the current economic uncertainty. The pullbacks we’re seeing now are shifting us into more balanced territory and easing price pressure.”
The story is mixed when it comes to pricing—reflecting the varied supply-demand dynamics by property type:
Buyers:
Sellers:
With the market shifting from red-hot to refreshingly balanced, there are real opportunities for both buyers and sellers right now. Whether you’re looking to upsize, downsize, or make your first move, I can help you navigate this evolving landscape with clarity and confidence.
📞 Contact me today for expert guidance, up-to-date pricing insights, and a customized game plan that aligns with your goals.
For in depth statistics click here.
📊 Key Stats at a Glance
- Sales: 2,568 homes sold (down 17% compared to last year)
- Months of Supply: 2.6 months – relatively balanced
- Benchmark Price: $589,900 (down 2% compared to last year)
- Days on the market (DOM) increased to 32 days
Inventory is Growing, But Price Trends Vary
New listings continued to climb in May, outpacing sales and pushing inventory levels higher. However, as both sales and listings rose, the months of supply held steady at 2.6, indicating a relatively balanced market—not yet favoring either side broadly.
According to Ann-Marie Lurie, Chief Economist at CREB®, this stabilization stands in contrast to other major Canadian cities:
“Compared to last year, easing sales and rising inventories are consistent trends across many cities… But Calgary was already experiencing strong seller’s market conditions before the current economic uncertainty. The pullbacks we’re seeing now are shifting us into more balanced territory and easing price pressure.”
What’s Happening With Prices?
The story is mixed when it comes to pricing—reflecting the varied supply-demand dynamics by property type:
- Detached & Semi-Detached Homes:➖ Prices remain stable and are still higher than this time last year➖ Supply is still tight in some price ranges, supporting strong values
- Row & Apartment-Style Homes:➖ Modest monthly price declines➖ Prices now sit below May 2024 levels🏗️ Increased new home and rental options are putting downward pressure on resale values in this segment
What This Means for Buyers and Sellers
Buyers:
- More listings = more options
- Balanced conditions = less urgency and more room to negotiate
- Apartment and row homes are seeing softer prices—great opportunities for first-time buyers or investors
Sellers:
- Detached and semi-detached homes remain in high demand with stable pricing
- Strategic pricing is key—especially in high-density segments where inventory is climbing
📲 Thinking of Buying or Selling in Calgary? Let’s Talk Strategy.
With the market shifting from red-hot to refreshingly balanced, there are real opportunities for both buyers and sellers right now. Whether you’re looking to upsize, downsize, or make your first move, I can help you navigate this evolving landscape with clarity and confidence.
📞 Contact me today for expert guidance, up-to-date pricing insights, and a customized game plan that aligns with your goals.
For in depth statistics click here.