The Calgary housing market wrapped up 2025 in a distinctly more balanced position compared to the rapid seller-favored conditions experienced in recent years. According to the Calgary Real Estate Board (CREB®), the market is transitioning from a shortage driven environment to one where supply and demand are more aligned, creating opportunities for both buyers and sellers alike.
2025 Market: A Year in Transition
Across the calendar year 2025, overall residential sales in Calgary declined roughly 16% compared with 2024, with total sales reaching 22,751 units. This pull back aligns more closely with longer term averages and reflects a cooling in demand after several years of unusually high activity.
Inventory levels climbed throughout the year as more listings hit the market, alleviating some of the supply constraints that had previously kept buyers in bidding wars. Notably, home inventories in key segments like semi-detached and row homes increased enough to draw those parts of the market closer to balance.
In December 2025 specifically, sales activity was down about 14.2% year-over-year to 1,126 homes sold, and the benchmark price fell 4.7% to $554,700 compared with the same month in 2024. New listings also edged slightly lower than the year before, suggesting that sellers may have been more cautious entering the winter season.
For the full year 2025, the annual average benchmark price for Calgary homes was about $577,492, representing a 2.4% decline from the previous year.
What This Means for Buyers and Sellers
These shifts signal a gradual move toward balanced market conditions, where neither buyers nor sellers hold overwhelming leverage. This is good news for buyers who faced intense competition in recent years but also for sellers who can still expect solid pricing, especially in segments that have remained steadier, such as detached homes.
Different types of properties experienced varied performance. CREB data shows that higher inventory levels in row and apartment segments weighed more heavily on prices, while detached homes in certain districts continued to hold steadier values.
Looking Ahead: 2026 Outlook
Forecasts for 2026 suggest continued moderation with pockets of momentum, though national forecasts also provide helpful context. According to the Canadian Real Estate Association (CREA), national home sales are expected to rebound by around 7.7% in 2026 after a modest 2025 decline, and average home prices across Canada are forecast to rise about 3.2%.
While Calgary has its own dynamics, this broader trend points toward a potential resurgence in activity as buyer confidence returns and interest rate pressures ease. Within Calgary itself, many analysts believe that price movements will remain largely stable with slight appreciation in some segments, though inventory remains a key factor to watch.
Final Thoughts
In summary, Calgary’s real estate market at the end of 2025 showed clear signs of healthy normalization. Sales softened, inventories grew, and prices moderated creating a more balanced environment that favors thoughtful decision making. As 2026 unfolds, market conditions are likely to remain mixed, with opportunities for both buyers and sellers depending on segment and location. Staying informed about local trends and CREB data will be essential for anyone planning to buy or sell in the year ahead.