Calgary’s real estate market is showing clear signs of shifting, with home sales falling nearly 12% year-over-year in July 2025, while inventory levels surged to highs not seen since before the pandemic, according to the Calgary Real Estate Board (CREB).
Supply Surge Shakes Up the Market
In July, 3,911 new listings hit the market, an 8.6% increase compared to the same time last year. That pushed total inventory to 6,917 active listings, marking a 66.1% spike from July 2024 and bringing supply levels back to where they were pre-COVID.
This flood of new supply is putting downward pressure on prices, especially in specific segments of the market.
Sales Slide Across Calgary
According to CREB, a total of 2,099 homes sold in July 2025, down from 2,374 in July 2024, an 11.6% year-over-year decline.
Analysts point to several factors contributing to the slowdown in buyer activity:
- Ongoing economic uncertainty, including the impact of tariffs
- A lack of movement on lending rates, which remain high
- Increased competition from the new home construction market
Prices Dip, But Not Across the Board
The benchmark residential price in Calgary dropped to $582,900 in July, a 3.9% decline from the same time last year. However, CREB’s Chief Economist Ann-Marie Lurie notes that price drops aren’t affecting all property types equally.
“The steepest price declines are happening in the apartment and row home segments,” says Lurie. “But even where prices have dipped, most of the gains made over the past several years remain intact.”
Detached homes in many neighborhoods are still holding their value, while more affordable and entry-level property types are experiencing the biggest shifts due to increased supply and buyer caution.
What This Means for Buyers and Sellers
With inventory rising and price growth slowing, buyers may start to regain leverage in certain segments of the Calgary housing market. At the same time, sellers in more competitive segments, especially apartments and townhomes, may need to adjust pricing expectations or incentives to attract interest.
Calgary Real Estate Snapshot – July 2025
| Metric | Value (July 2025) | Year-Over-Year Change |
|---|---|---|
| Home Sales | 2,099 | ↓ 11.6% |
| New Listings | 3,911 | ↑ 8.6% |
| Total Inventory | 6,917 homes | ↑ 66.1% |
| Benchmark Price | $582,900 | ↓ 3.9% |
Final Thoughts
With inventory climbing and sales slowing, Calgary’s housing market appears to be entering a more balanced phase. For buyers, this could mean more choice and negotiating power heading into the fall. For sellers, staying competitive on price and presentation will be key, especially in the condo and row home markets where the pressure is building.
Canada Housing Market 
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