The Calgary Real Estate Board released their latest market report for March 2025:
Uncertainty weighing on housing market
Ongoing economic uncertainty, driven by tariff threats, has weighed on consumer confidence and impacted housing activity in March. Sales declined by 19 per cent year-over-year, totaling 2,159 units. Sales slowed across all property types, with the steepest declines seen in higher-density segments.
March reported over 4,000 new listings, causing the sales-to-new-listing ratio to drop to 54 per cent, low enough to support further inventory gains. Total residential inventory levels reached 5,154 units, and the months of supply pushed up to 2.4 months. While this is a significant change from last year, with limited supply options across all property types and price ranges, conditions reflect a better balance between a seller and a buyer today. However, the market significantly varies depending on location, price point, and property type.
Detached Homes- Benchmark price $769,800 and 2.13 months of supply. Detached sales totaled 1,035 units in March, a year-over-year decline of 10 per cent. The months of supply continue to remain tight with less than two months of supply for homes priced below $700,000. We are seeing a shift toward more balanced conditions for homes priced above $800,000.
Semi-detached Homes- Benchmark price $691,900 with 2.24 months supply (the highest monthly level reported since the end of 2022). March sales slowed over last year's levels, contributing to the first quarter decline of 11 per cent. Year-over-year gains ranged across the city, with the largest gains occurring in the City Centre and West districts.
Row Housing- Benchmark price $454,000 with 2.07 months of supply. March reported a surge in new listings with 697 units. The growth in new listings was met with 400 sales, causing the sales-to-new-listings ratio to ease, and inventories to rise from the lower levels reported last year. Supply levels improved across all price ranges, with much of the gains occurring in the North East, North and South East districts
Apartments- Benchmark price $336,100 with 3.17 months of supply. After the first quarter, condo sales reported the largest decline over last year compared to other property types. However, we achieved record highs last year, and the 1,383 sales remain well above long-term trends for the first quarter. Prices are below peak across all districts, but the largest declines have occurred in the North and North East areas
Airdrie market- The unadjusted benchmark price of homes is $554,900, with 2.49 months of supply. In March, the unadjusted detached benchmark price was $651,300, up over last month and over two per cent higher than prices reported last year. Recent gains have narrowed the gap from the peak price of $657,400 reported in June 2024.
Cochrane market- unadjusted benchmark price of homes $587,500, with 2.24 months supply. In March, detached benchmark prices reached $686,800, a gain over last month and over five per cent higher than last year. While price growth has slowed over last year, the current March price does reflect a new unadjusted record high for the town.
Okotoks market- unadjusted benchmark price of homes $630,300 with 1.81 months of supply. While price growth has eased from last year, in March the unadjusted detached benchmark price reached $715,500, a new unadjusted record high and over five per cent higher than levels reported last year at this time.
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