Calgary Real Estate Statistics - January 2025

Calgary’s housing market saw a notable increase in supply to start the year, with inventory levels reaching 3,639 units in January. While this marks a significant 70% year-over-year gain, inventory remains lower than the 4,000+ units typically available at this time of year. Supply grew across all property types, with the most substantial increases seen in apartment-style condominiums.

"Supply levels are expected to improve throughout the year, contributing to a more balanced market and slower price growth," said Ann-Marie Lurie, Chief Economist at CREB®. "However, supply adjustments vary by property type. Detached, semi-detached, and row homes remain in tight conditions, while apartment-style units show signs of excess supply in the higher price ranges."

Citywide, months of supply rose to 2.5 months, an improvement from the one-month supply recorded last year. However, levels are still considered low for a winter market. The months of supply ranged from under two months for semi-detached homes to 3.5 months for apartment-style units.

Higher inventory levels were driven by an increase in new listings, which reached 2,896 units in January, compared to 1,451 sales. Sales activity declined 12% year-over-year, but still remained 30% above historical January averages.

The total residential benchmark price for January was $583,000, remaining relatively stable compared to December and nearly 8% higher than the previous January. Price trends varied across different districts and property types, reflecting shifts in supply and demand.