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According to the Calgary Real Estate Board (CREB), supply increases have been most notable in the apartment and row home segments, with inventory now exceeding long-term averages by over 30%.
“Supply has improved across rental, resale, and new home markets, providing more options for those exploring their housing choices,” stated CREB Chief Economist Ann-Marie Lurie. “However, the combination of additional supply, stable lending rates, ongoing uncertainty, and concerns about potential price adjustments is causing many prospective buyers to remain cautious.”
This decrease in demand has contributed to the citywide benchmark price dropping to $586,200 in June, representing a 3.6% decline compared to last year. The most significant decreases occurred in the apartment and row home sectors, both down more than 3% annually, while prices for detached homes remained relatively stable.
Detached home sales in June totaled 1,194 units, roughly 6% below both last year and the previous month. The decline was most noticeable in higher-priced homes competing with new-builds, especially in the City Centre and North East areas, where year-over-year sales fell by more than 20%. Despite this, detached home prices remained largely steady, with the benchmark price decreasing by less than 1% year-over-year to $764,300. The North East was the only area to experience a buyer-favored market, which contributed to a 4% annual price decline there.
Among attached homes, semi-detached properties experienced modest price growth, with the benchmark reaching $696,400 in June—remaining unchanged from May and increasing by 1% compared to the previous year. However, this overall stability masked significant regional differences, with record-high prices in the City Centre contrasted by annual declines of over 2% in the North, North East, and East areas.
The row and apartment segments were more noticeably impacted by rising supply levels. Inventory of row homes increased to 1,167 units in June, while the sales-to-new listings ratio declined to 50%. Consequently, prices fell to $450,300—down more than 3% from the previous year. The North East saw nearly a 6% year-over-year decrease in prices.
In the apartment condominium market, both sales and new listings declined, but overall inventory continued to grow due to slower absorption rates. The months of supply approached four, contributing to a further decrease in the benchmark price to $333,500, marking a decline of more than 3% compared to last year. The largest price declines were observed in the North, North East, and South East districts.
“Supply has improved across rental, resale, and new home markets, providing more options for those exploring their housing choices,” stated CREB Chief Economist Ann-Marie Lurie. “However, the combination of additional supply, stable lending rates, ongoing uncertainty, and concerns about potential price adjustments is causing many prospective buyers to remain cautious.”
This decrease in demand has contributed to the citywide benchmark price dropping to $586,200 in June, representing a 3.6% decline compared to last year. The most significant decreases occurred in the apartment and row home sectors, both down more than 3% annually, while prices for detached homes remained relatively stable.
Detached home sales in June totaled 1,194 units, roughly 6% below both last year and the previous month. The decline was most noticeable in higher-priced homes competing with new-builds, especially in the City Centre and North East areas, where year-over-year sales fell by more than 20%. Despite this, detached home prices remained largely steady, with the benchmark price decreasing by less than 1% year-over-year to $764,300. The North East was the only area to experience a buyer-favored market, which contributed to a 4% annual price decline there.
Among attached homes, semi-detached properties experienced modest price growth, with the benchmark reaching $696,400 in June—remaining unchanged from May and increasing by 1% compared to the previous year. However, this overall stability masked significant regional differences, with record-high prices in the City Centre contrasted by annual declines of over 2% in the North, North East, and East areas.
The row and apartment segments were more noticeably impacted by rising supply levels. Inventory of row homes increased to 1,167 units in June, while the sales-to-new listings ratio declined to 50%. Consequently, prices fell to $450,300—down more than 3% from the previous year. The North East saw nearly a 6% year-over-year decrease in prices.
In the apartment condominium market, both sales and new listings declined, but overall inventory continued to grow due to slower absorption rates. The months of supply approached four, contributing to a further decrease in the benchmark price to $333,500, marking a decline of more than 3% compared to last year. The largest price declines were observed in the North, North East, and South East districts.
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