Calgary Real Estate Market Update - Q3 2025
By Jessica Chan | October 2025
The Calgary housing market is showing signs of cooling in the third quarter of 2025, following three consecutive years of strong growth. After rapid price increases and competitive offers since 2021, the market is starting to stabilize, with rising inventory and slower sales activity across all housing types.
Detached Homes: Slight Price Correction
The benchmark price for detached homes in Calgary rose from $537,000 in September 2021 to $757,000 in September 2024, a $220,000 increase in three years. As of September 2025, the benchmark price has adjusted slightly to $749,900, marking a 0.94% decrease compared to the same period last year.
Apartments and Townhouses See Larger Drops
The apartment condo market has softened more noticeably. Prices climbed from $253,200 in September 2021 to $345,000 in 2024, but have since dropped to $322,000, a 6.6% decrease.
Similarly, row townhouses peaked at $459,200 in 2024, up from $299,600 in 2021, and are now at $437,100, representing a 4.8% decline.
Inventory Surges Across Calgary
The market shift became evident in June 2025, when housing inventory rose sharply:
-
Over 3,000 detached homes for sale
-
More than 2,000 apartment units available
-
Nearly 1,200 townhouses on the market
This represents almost double the inventory from the previous year. Slower interprovincial migration from B.C. and Ontario has added to the supply-demand imbalance, leading to longer market times and frequent price reductions to attract buyers.
Sales Activity Trends
Sales activity slowed during July and August, with a slight pickup in September. Overall, the market remains moderate, and analysts expect a gradual adjustment, with benchmark prices potentially declining another 3% by the end of 2025.
Interest Rates and Economic Factors
Interest rates have eased from 5% in January 2024 to 2.5% by September 2025, slightly improving buyers’ borrowing power. However, economic developments could weigh on the market. For example, Imperial Oil announced 900 job cuts, with many Calgary positions being relocated or phased out by 2028.
Forecast: Market Adjustment Ahead
With higher inventory levels and economic uncertainties, Calgary’s housing market is likely to continue adjusting over the next six months. Prices could return to 2023 levels, approximately:
-
$700,000 for detached homes
-
$312,000 for apartments
-
$419,500 for townhouses
Conclusion
After several years of rapid appreciation, the Calgary real estate market is entering a more balanced phase. Buyers may find new opportunities, while sellers need to strategize pricing carefully.
For those considering buying or selling in Calgary, professional guidance is essential to navigate this evolving market. Contact us today to discuss your real estate plans or get the latest market insights.
If you have questions about your property or your plans, I’d be happy to chat and offer guidance.
Contact me anytime to schedule a consultation.
And don’t forget to like, share, and subscribe to my YouTube channel for regular updates!
Jessica Chan
Over 30 Years of Excellence in Calgary Real Estate
https://www.jcre.ca/
403-241-9800 | jessica@jessicachan.ca