Real Estate Market Report | Calgary | May 2025
Sales Cool, Prices Climb
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 May 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.
The Calgary real estate market continues to show signs of transformation, with inventory building slightly and sales pulling back — yet prices remain on a steady climb. Overall new listings in April were just 1% higher than the five-year average, but sales have dropped by 22%, suggesting a rebalancing after the red-hot pace of prior years. Inventory levels have climbed 29%, bringing months of supply up by 62%, easing some pressure but still well below what would be considered a buyer’s market. Benchmark prices have risen 6.3% year-over-year to $583,000, with a modest 1.14% gain over March. Calgary’s market remains seller-favourable, but conditions are becoming more stable.
Calgary's Detached Homes
Detached homes are seeing a sharp slowdown in activity. New listings have dropped 8% below the 5-year average for April, while sales are down 28%. Despite this, inventory is only up 20%, and months of supply has grown by 63% — indicating that while things are easing, there’s still tight availability relative to demand. Prices remain resilient, holding steady month-over-month at $696,800, and up 5.3% year-over-year. The flattening price growth suggests buyers are pushing back slightly, though quality inventory remains limited.
Calgary's Apartments
The apartment segment is behaving quite differently. Listings are up 13%, while sales are only down 9%, indicating stronger relative demand here. Inventory has jumped 33%, yet months of supply has increased at a slower 33%, suggesting a reasonably healthy absorption rate. Benchmark pricing climbed a strong 3.51% month-over-month and is up 2.46% year-over-year, now sitting at $343,100. This is the most upward monthly movement of any segment, driven by affordability and investor activity. Apartments are becoming a clear pocket of opportunity for both buyers and sellers.
Calgary's Attached Homes
Attached properties also show a unique trajectory. New listings are up 10%, but sales are down 24%, leading to a 40% increase in inventory and a 75% surge in months of supply — the largest gain among the three types. Yet prices are still rising: up 1.99% month-over-month and 1.61% year-over-year, with the benchmark now at $465,200. This suggests a cooling market where inventory is building faster than demand, but pricing strength remains — a sign that while buyers have more choice, sellers aren’t yet under pressure to slash prices.
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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