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Housing Market Trends in Calgary and Surrounding Areas – August 2025
Sergey Korostensky
Wednesday, September 3, 2025
Improved housing supply has shifted Calgary’s real estate market, contributing to price declines across several property types. Apartment and row-style homes have seen the most notable reductions due to significant increases in available inventory, while detached and semi-detached homes have experienced more modest pricing changes. As of August, the city’s total residential benchmark price dropped to $577,200—down from the previous month and nearly four per cent below the same period last year.
Sales activity in August totaled 1,989 transactions, representing a nine per cent decline year-over-year. Despite this drop, demand remains stronger than long-term averages. However, a surge in new listings has pushed total inventory to 6,661 units—the highest level for August since 2019. The resulting sales-to-new-listings ratio sits below 60 per cent, indicating a shift toward more balanced market conditions and away from the sellers’ market dominance of recent years.
Detached homes saw a softening in sales and a rise in new listings, particularly in areas like the North East, where buyer market conditions are emerging. Inventory in this segment reached its highest August level since 2020. The benchmark price for detached homes declined to $755,600—down nearly one per cent from both the previous month and the previous year. While the North East and East districts experienced the steepest declines, the City Centre recorded continued price growth.
In contrast, the semi-detached and row housing segments showed mixed results. Semi-detached homes held relatively tighter market conditions, with fewer new listings and a sales-to-new-listings ratio of 67 per cent. This helped limit inventory growth and kept prices more stable. The benchmark price for semi-detached properties stood at $687,200—slightly below last month but still one per cent higher than last year. Meanwhile, row homes continued to face rising inventory and weakening sales, pushing prices down for the fourth month in a row. August’s benchmark price for row homes dropped to $439,600, nearly five per cent lower year-over-year.
The apartment condominium market has been the most impacted by the increase in supply. Inventory rose to a record 1,979 units in August, and the sales-to-new-listings ratio fell to just 51 per cent. These supply pressures led to five straight months of price declines, with the benchmark apartment price falling to $326,500—almost six per cent below last year’s level. The North East district experienced the steepest price decline at over 11 per cent, followed by smaller drops in the City Centre and West districts.
Airdrie is also adjusting to shifting market conditions. Sales in August fell to 152 units, contributing to a 12 per cent year-to-date decline. Meanwhile, 265 new listings pushed the sales-to-new-listings ratio to 57 per cent, keeping inventory growth in check. With 535 active listings—the highest level since before the pandemic—the market has moved toward balanced conditions. However, increased supply has placed downward pressure on prices, with the benchmark price falling to $531,100, down four per cent from last August.
Cochrane experienced 70 sales in August, while 139 new listings entered the market. The resulting 50 per cent sales-to-new-listings ratio is the lowest for August since 2015. Although inventory levels didn’t change significantly, months of supply rose above four. Despite this, benchmark prices remained stable at $589,100—similar to July’s figure and nearly two per cent higher year-over-year. On a year-to-date basis, prices in Cochrane are up by four per cent compared to last year.
Okotoks showed stronger seller conditions in August, as new listings declined significantly while sales remained steady. The sales-to-new-listings ratio surged to 80 per cent, limiting inventory growth. Although inventory levels are 29 per cent higher than last year, they remain 30 per cent below typical August levels. These tighter conditions helped support prices, with the year-to-date benchmark remaining two per cent higher than in 2024. However, some minor monthly price declines were observed.
Sales activity in August totaled 1,989 transactions, representing a nine per cent decline year-over-year. Despite this drop, demand remains stronger than long-term averages. However, a surge in new listings has pushed total inventory to 6,661 units—the highest level for August since 2019. The resulting sales-to-new-listings ratio sits below 60 per cent, indicating a shift toward more balanced market conditions and away from the sellers’ market dominance of recent years.
Detached homes saw a softening in sales and a rise in new listings, particularly in areas like the North East, where buyer market conditions are emerging. Inventory in this segment reached its highest August level since 2020. The benchmark price for detached homes declined to $755,600—down nearly one per cent from both the previous month and the previous year. While the North East and East districts experienced the steepest declines, the City Centre recorded continued price growth.
In contrast, the semi-detached and row housing segments showed mixed results. Semi-detached homes held relatively tighter market conditions, with fewer new listings and a sales-to-new-listings ratio of 67 per cent. This helped limit inventory growth and kept prices more stable. The benchmark price for semi-detached properties stood at $687,200—slightly below last month but still one per cent higher than last year. Meanwhile, row homes continued to face rising inventory and weakening sales, pushing prices down for the fourth month in a row. August’s benchmark price for row homes dropped to $439,600, nearly five per cent lower year-over-year.
The apartment condominium market has been the most impacted by the increase in supply. Inventory rose to a record 1,979 units in August, and the sales-to-new-listings ratio fell to just 51 per cent. These supply pressures led to five straight months of price declines, with the benchmark apartment price falling to $326,500—almost six per cent below last year’s level. The North East district experienced the steepest price decline at over 11 per cent, followed by smaller drops in the City Centre and West districts.
Airdrie is also adjusting to shifting market conditions. Sales in August fell to 152 units, contributing to a 12 per cent year-to-date decline. Meanwhile, 265 new listings pushed the sales-to-new-listings ratio to 57 per cent, keeping inventory growth in check. With 535 active listings—the highest level since before the pandemic—the market has moved toward balanced conditions. However, increased supply has placed downward pressure on prices, with the benchmark price falling to $531,100, down four per cent from last August.
Cochrane experienced 70 sales in August, while 139 new listings entered the market. The resulting 50 per cent sales-to-new-listings ratio is the lowest for August since 2015. Although inventory levels didn’t change significantly, months of supply rose above four. Despite this, benchmark prices remained stable at $589,100—similar to July’s figure and nearly two per cent higher year-over-year. On a year-to-date basis, prices in Cochrane are up by four per cent compared to last year.
Okotoks showed stronger seller conditions in August, as new listings declined significantly while sales remained steady. The sales-to-new-listings ratio surged to 80 per cent, limiting inventory growth. Although inventory levels are 29 per cent higher than last year, they remain 30 per cent below typical August levels. These tighter conditions helped support prices, with the year-to-date benchmark remaining two per cent higher than in 2024. However, some minor monthly price declines were observed.
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