While home sales declined 16.5% year-over-year to 2,286 units, new listings surged 11.2% year-over-year, which has helped bring market conditions back into balanced territory.
According to the Calgary Real Estate Board (CREB), supply gains have been strongest in the apartment and row segments, where inventory is now more than 30% above long-term trends.
“Supply has improved across rental, resale and new home markets, allowing for more choice for those considering their housing options,” said CREB Chief Economist Ann-Marie Lurie. “The additional choice combined with no further declines in lending rates, persistent uncertainty and concerns of price adjustments is keeping many potential purchasers on the sidelines.”
That softening in demand has contributed to the citywide benchmark price slipping to $586,200 in June, down 3.6% from last year. The decline has been most pronounced in the apartment and row sectors, both down more than 3% annually, while detached prices held relatively steady.
Detached market holds steady, while attached segments face pressure
Detached home sales in June totalled 1,194 units, about 6% below both last year and the previous month. The pullback was most evident in higher-priced homes facing competition from the new-home segment, and in the City Centre and North East, where year-over-year sales fell more than 20%.
Still, detached home prices were largely stable with the benchmark price down less than 1% year-over-year to $764,300. Only the North East saw buyer-favoured conditions, contributing to a 4% annual price decline there.
Among attached homes, semi-detached properties saw modest price growth, with the benchmark reaching $696,400 in June—flat from May and up 1% year-over-year. That masked significant regional variation, with record highs in the City Centre but annual price drops of over 2% in the North, North East, and East.
Row and apartment segments were more clearly affected by rising supply. Row home inventory rose to 1,167 units in June as the sales-to-new listings ratio dropped to 50%. Prices fell to $450,300—down over 3% from last year. In the North East, prices declined nearly 6% year-over-year.
In the apartment condominium segment, both sales and listings dipped, but inventory continued climbing due to slower absorption. Months of supply approached four citywide, contributing to another drop in the benchmark price to $333,500, also down more than 3% from last year. The steepest declines were recorded in the North, North East and South East districts.
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Last modified: July 2, 2025
