Home sales totalled 2,236 in April, down 22% from last year’s record high, according to the Calgary Real Estate Board (CREB).
Despite the steep drop, CREB says activity is still in line with long-term averages. The bigger shift came from a jump in new listings, which pushed inventory to 5,876 units—more than double last year’s trough and much closer to typical April levels.
“Economic uncertainty has weighed on home sales in our market,” said CREB Chief Economist Ann-Marie Lurie. “But levels are still outpacing activity reported during the challenging economic climate experienced prior to the pandemic.”
She added that previous gains in migration, stable employment prior to the latest trade shocks, and slightly lower lending rates are likely helping keep sales from falling more significantly.
More listings bring balance—and slower price growth
With nearly three months of supply now on the market, Calgary is moving into balanced territory. That’s helped slow the pace of price gains, particularly after the steep increases of the past several years.
The city-wide benchmark price in April was $591,100, relatively unchanged from March and down 1.4% year-over-year. Detached and semi-detached prices remain more than 2% higher than a year ago, while apartment and row-style prices are flat year-over-year.
CREB noted that conditions vary depending on price point and housing type. Lower-priced detached and semi-detached homes remain undersupplied, while the apartment and row segments are seeing more balance thanks to a spike in listings.
Prices hold steady across segments as supply builds
Detached home sales were down 16% year-over-year, with inventory rising to 2,511 units and the benchmark price holding at $769,300—up just over 2% from last April. Semi-detached sales also declined, and with inventory more than doubling from last year, price growth has slowed. The benchmark for semi-detached homes was $691,700, up 3% from a year ago but flat month-over-month.
In the more affordable row and condo segments, sales were also down, but inventory gains helped take pressure off prices. Row home prices stayed flat at $457,400, while condo prices held at $336,000—unchanged from last year and still below the 2024 peak. The apartment segment now has three months of supply, though conditions vary widely by district.
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Last modified: May 1, 2025