Calgary Real Estate in 2025: 1st Quarter Market Review
We’ve been experiencing a changing market since the start of the New Year. We noticed that certain properties are still selling quickly and even going into multiple offer situations, while some listings have been sitting on the market for months with little activity.
Q1 2025 Real Estate Stats – Calgary at a Glance
Based on the first quarter statistics, single-family homes continue to see a rise in benchmark prices. In December 2024, the benchmark price was $747,500, and by March 2025, it had increased to $769,800—that’s a 3% increase in just three months, and a 4% increase compared to March last year. However, when we look at sales volume, only 2,472 detached homes sold in the past three months. That’s 361 homes fewer than the same period last year.
For apartment-style condos, the benchmark price is still holding steady at $336,100, but the sales volume has dropped significantly—from 1,939 units last year to 1,382 units this year, a difference of 556 units. Due to the higher inventory levels, the apartment market is now under pressure. We currently have over 3 months of supply, which may result in pricing adjustments in the coming months.
What’s Affecting the Calgary Housing Market?
With ongoing economic and political uncertainty, many are wondering how the elected government will help Canadians deal with rising tariffs and a possible economic downturn. These are real concerns on many people’s minds right now.
Yes, real estate prices are closely tied to confidence in the economy. As I mentioned in my January market forecast, we are likely to see a more balanced market heading into spring and summer, especially as more listings become available. There will likely be downward pressure on prices, particularly for condos, where supply is already high.
Mortgage Renewals Could Shift the Market
The current prime lending rate sits at 4.95%, though some banks are offering 5-year fixed mortgages at 3.99%. For homeowners who locked in low rates like 1.99% in 2020, the upcoming renewal could bring significant changes. Some may not be able to afford the new payments and will be forced to sell. Others may choose to sell now and take advantage of the market gains they’ve seen over the past few years.
Curious About Your Home's Value or Ready to Buy Your First Home?
Whether you’re planning to sell, buy, or just want to understand where the market is heading, feel free to call or email me anytime.
Let’s talk about how you can make the most of this shifting Calgary real estate market.
Posted by Jessica Chan on
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