Real Estate Market Report | Calgary | February 2025
Growing Inventory, Mixed Demand
With the looming threat of US tariffs on the horizon, homebuyers are looking to see what the final implications may be – the good news is that selling with Bōde mitigates that risk entirely by maximizing your equity, you’ll outperform traditional methods of buying and selling.
We help provide home buyers and sellers with the data they need to be successful. When you have access to accurate and relevant data, you can be more confident in setting the price of your home and selling it or buying at the right price.
With many important factors to consider (what kind of home you have, what community etc.), it’s important to look specifically at what the housing market is doing in your neighbourhood.
Bōde sellers are more successful and actually make more money, on average, than the rest of the market. We are also here to make sure you have the information you need to make the decisions that are right for YOU!
So what's happening in the Calgary real estate market as of February 2025?
Let’s start with a Macroeconomics view
To understand what’s happening in the real estate market you have to look at supply and demand.
The best proxies for supply and demand are:
Supply
New supply: New Listings (i.e. the number of homes recently listed for sale)
Total supply: Inventory (i.e. the total number of homes listed for sale)
Demand
Sales (i.e. the number of homes recently sold)
Supply & Demand
Months of Supply (i.e. the number of months it would take to sell all current inventory at the current rate of sale)
These metrics are the best indicators of the health of the real estate market. Let’s look at what they show us.
Over the past five Januarys, Calgary’s real estate market has seen significant shifts. New listings have increased by 25%, while sales have declined by 3%, creating a growing inventory (+22%) and pushing months of supply up by 19%. Despite this, the benchmark price has steadily risen to $573,100, with an HPI of 276. The data suggests that while supply has expanded, demand has remained relatively stable, preventing major price corrections. However, the increased inventory gives buyers more leverage, especially in the detached segment, while apartments continue to see stronger demand growth.
Calgary's Detached Homes
The detached market has experienced a 12% rise in new listings over the past five Januarys, but sales have declined by 12%. This has resulted in an 18% increase in inventory and a 25% rise in months of supply, indicating that buyers now have more options. Despite this, prices have steadily appreciated, with the benchmark price reaching $680,900 and an HPI of 299. While detached homes remain a premium choice, affordability concerns and shifting market conditions may lead to more selective purchasing behavior.
Calgary's Apartments
Calgary’s apartment sector has seen robust demand over the past five Januarys, with sales increasing by 8%, even as new listings have surged by 44%. Inventory has grown by 26%, but months of supply has remained nearly stable at just +1%. The benchmark price has steadily climbed to $338,300, and the HPI of 258 suggests continued appreciation. With affordability concerns in the detached market, apartments have become an attractive option for both investors and first-time buyers. If demand continues to outpace supply growth, this segment could see sustained upward pressure on prices.
Calgary's Attached Homes
The attached home segment has remained stable over the last five Januarys, with new listings rising by 28% and sales increasing by 4%. Inventory has grown by 24%, while months of supply has risen by 11%, suggesting a balanced market. The benchmark price has climbed to $455,200, with an HPI of 289, indicating long-term appreciation. Buyers are increasingly turning to townhomes and duplexes as a middle-ground option, offering more space than apartments at a lower price than detached homes. This segment is expected to maintain steady growth with moderate price increases.
It’s critical to understand the dynamics in your local property market
To understand your local property market you need to look at your local data. Head over to Bōde’s new and improved Market Data dashboard, the only place where you can see all the data yourself, including being able to filter on community, property type, and price range to see exactly what’s happening where you live.
You can also see the sold price of any home that has sold in the last 2 years using Bode’s Sold Data page.
If you’re thinking about selling, take a look at how Bōde helps sellers sell for 1.3% higher prices while paying 50% less commission.
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Welcome to Bōde
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