The Bank of Canada kept its key overnight lending rate at 2.75% again Wednesday.

This marks the second straight hold after the central bank’s rate-cutting streak of seven consecutive reductions ended in April amid the trade war with the U.S. that is wreaking havoc on Canadian monetary policy.

In recent months, the BoC has adopted a strategy that puts more emphasis on assessing short-term impacts, such as economic shocks, economic shocks, rather than usual long-term outlooks when considering whether to hike, hold or cut rates.

The BoC maintained the hold because the bank’s governing council wants to get more information on how U.S. tariffs on Canadian imports could further affect Canada’s economy, BoC Governor Tiff Macklem said during a news conference after Wednesday’s decision.

The hold and Macklem’s comments came on the same day that U.S. President Donald Trump imposed a 50% tariff on steel imports from Canada and a number of other countries, with the exception of the U.K.

“Uncertainty remain high,” Macklem told reporters.

BMO Chief Economist Douglas Porter told The Canadian Press that the uncertainty “really is a doubled-edged sword” for the BoC.

“It doesn’t mean that they should cut more or less,” Porter told CP. “It just makes it more and more uncertain, and they almost have to take it on a meeting-by-meeting basis.”

The hold was widely expected.

First-quarter Canadian economic growth exceeded the bank’s expectation, but compound growth came in as anticipated, Leslie Preston, a TD Bank managing director and senior economist, wrote in a research note provided to Connect. She noted that the economy is softer but not sharply weaker. However, the bank remains concerned about unexpected firm inflation and its preferred measures of inflation have risen.

The BoC also expects the economy to be “considerably weaker” in the second quarter as strong exports and inventories reverse while demand remains “subdued.”

“We expect that barring a trade negotiation miracle with the Trump administration, Canada’s economy is likely to tip into recession this year, and more interest-rate cuts will be required,” wrote Preston.

                                                                                                                                                                                                                                   By: Monte Stewart @Connect Canada

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Price adjustments mostly driven by apartment and row style homes

Thanks to steep pullbacks in the apartment condominium sector, total residential sales in Calgary eased by 17 per cent compared to May of last year. While the drop does seem significant, the 2,568 sales this month remain 11 per cent higher than long-term trends for May and improved over last month.

New listings continued to rise this month compared to sales, resulting in further gains in inventory levels. However, the monthly gain in both inventory and sales prevented any significant change in the months of supply compared to April. With 2.6 months of supply, conditions are still relatively balanced. 

“Compared to last year, easing sales and rising inventories are consistent trends across many cities, as uncertainty continues to weigh on housing demand. However, prior to the economic uncertainty, Calgary was dealing with seller market conditions, and the recent pullbacks in sales and inventory have helped shift us toward balanced conditions taking the pressure off prices,” said Ann-Marie Lurie, Chief Economist at CREB®. “This is a different situation from some of the other larger cities, where their housing markets were struggling prior to the addition of economic uncertainty.”    

Last year there was limited inventory across most property types and price ranges. Recent inventory gains are creating pockets of the market that are struggling with too much supply while in other areas supply levels are still low relative to the demand, resulting in divergent trends in home prices.

Both detached and semi-detached home prices have remained relatively stable this month and are still higher than last year’s levels. Meanwhile, row and apartment style homes have reported modest monthly price declines and May prices remain below last year’s levels, as improved new home and rental supply is weighing on resale prices. Overall, the total residential unadjusted benchmark price in Calgary was $589,900, slightly lower than last month and over two per cent below May 2024 levels.   

Detached

New listings in May rose to 2,419 units, with most of the gains driven by homes priced over $600,000. At the same time, sales activity has slowed across most price ranges, supporting a shift toward more balanced conditions and relative stability in prices. However, districts that are facing more competition from new home product or are seeing a larger pullback in demand are starting to show some signs of elevated supply.

The North East district has seen the largest pullback in resale sales activity combined with some of the highest gains in new listings. This has driven the sales-to-new listings ratio down to 41 per cent and the months of supply was nearly four months in May. This is causing prices to ease in the North East, offsetting some of the gains reported in the City Centre, West, and North West districts. City-wide the unadjusted benchmark price in May was $769,400, similar to last month, one percent higher than last May, and still above last year’s seasonal peak price.  

Semi-Detached

The 428 new listings in May were met with 256 sales, causing the sales-to-new-listings ratio to rise to 60 per cent this month. This slowed the pace of inventory growth and the months of supply remained just above two months.  Semi-detached homes continue to remain less than 10 per cent of all sales and inventory levels in the city.

This in part is due to construction patterns shifting toward more row style properties over semi-detached, and is one of the reasons we do not see the same inventory build as row and apartment style homes. 

Like the detached market there is significant variation within the city districts. The North East has the highest months of supply at nearly three months and is reporting some price declines, while the tightest conditions are in the North West, where prices continue to rise. Overall, generally tighter conditions are still supporting price gains for semi-detached properties. In April the unadjusted benchmark price was $697,300, a monthly gain of less than one per cent, nearly three per cent higher than last year’s levels and above last year’s seasonal peak.

Row

Row home sales have eased over last year’s near record high pace but stayed well above long-term trends.  However, the gain in new listings has continued to cause further inventory gains. For the second month in a row, inventory levels were over 1,000 units; we have not seen this much inventory for row units since 2021.

While inventory levels have improved across all districts, we are starting to see higher months of supply in the North East district at 3.5 months, resulting in some downward pressure on prices. The North, North West and South areas have also reported higher year-over-year pullbacks in resale prices, as improved supply choice for new properties are impacting resale activity. Overall, the benchmark price in May was $453,600, down over last month, nearly two per cent below last May, and lower than last year’s seasonal high.  
 

Apartment Condominium

Sales this month totaled 579 units, a significant decline over last May’s record high of 907 units. While new listings were lower than levels reported last year, they remained high compared to sales, causing the sales-to-new listings ratio to drop to 47% this month. This contributed to further inventory gains and drove the months of supply up to 3.6 months.

High levels of apartment rental units under construction are adding to the rental supply and contributing to rent adjustments. This is likely slowing condo ownership demand coming from existing renters and potential investors, contributing to some of the shifts witnessed in the apartment condominium sector. 

More supply choice is also weighing on condominium prices. In May the benchmark price eased to $335,300, down from last month and over one per cent lower than last year. The steepest declines are occurring in the North East and South East districts, where competition from the new home market is weighing on resale pricing. While prices have eased and are below peak levels, recent declines have not offset the double-digit gains reported over the past two years.

REGIONAL MARKET FACTS

Airdrie

While improving over last month, May sales eased compared to last year, contributing to the year-to-date decline of 10 per cent. However, the 772 sales so far this year are consistent with long-term trends in Airdrie. At the same time new listings continue to rise causing the sales-to-new listings ratio to fall to 58 per cent, still well within balanced conditions, but a significant change from the over 90 per cent ratio reported last year. Recent shifts in sales and new listings have supported gains in inventory levels.

In May there were 468 units in inventory, reflecting the highest May reported since prior to the pandemic. The shift in supply is in part related to the surge in new construction providing more options for potential consumers. Additional supply choice is impacting price growth.  The total residential benchmark price was $540,600 in May, down nearly one per cent over last month and nearly two per cent below last year’s levels.

Cochrane

Sales in Cochrane were fairly resilient until this month, where sales were 17 per cent slower than last year. The decline was enough to cause year-to-date sales to ease to levels just below those reported last year.  At the same time, this month new listings surged, driving the sales-to-new listings ratio down to 55 per cent and supporting further inventory gains.  With 293 units available in May, levels are more consistent with long-term trends. The months of supply neared three months in May and while this did slow the pace of price growth, the total residential benchmark price of $589,400 is still nearly four per cent higher than last May.

Okotoks

A boost in new listings this month supported a surge in sales activity. However, with a sales-to-new-listings ratio of 74%, inventory levels did not change much over last month and the months of supply once again dropped below two months. Okotoks has struggled to add supply at the pace reported in Calgary, Cochrane and Airdrie and sales growth has been dampened by limited supply choice.

While there have been some improvements in inventory levels, as of May levels remained nearly 28 per cent below long-term trends for the city.  The limited supply choice given the relatively strong demand has continue to support some price growth in the town. As of May the unadjusted benchmark price was $633,900, up over last month and over two per cent higher than last year. 

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.

In May 2025, Auburn Bay experienced a noticeable slowdown in sales volume but a sharp increase in listings and inventory. This shift has begun to push the market toward more balanced conditions, especially in the apartment and detached segments.

• Total Sales: 41 (▼20% YoY)

• New Listings: 89 (▲27% YoY)

• Total Inventory: 102 (▲149% YoY)

• Months of Supply: 2.49 (▲209% YoY)

• Benchmark Residential Price: $628,800 (▼3.7% YoY)

🏠 Performance by Property Type

🔹 Detached Homes

• Sales: 18 units (▼25% YoY)

• New Listings: 46 (▲15%)

• Benchmark Price: $814,400 (▼1% YoY, slight monthly uptick)

• Months of Supply: 2.56 (up 145% YoY)

• Sales-to-Listings Ratio: 39% → Buyer's market pressure

• Market Trend: Slower sales, rising inventory; sellers must be price competitive and property-ready.

🔹 Semi-Detached Homes

• Sales: 4 units (▼33% YoY)

• Benchmark Price: $531,600 (Flat YoY)

• New Listings: 7 (▲17%)

• Months of Supply: 1.5 (▲350%)

• Sales-to-Listings Ratio: 57%

• Market Trend: Limited inventory but sluggish buyer activity. A stable price environment, but fewer active sales.

🔹 Row Homes (Townhouses)

• Sales: 9 units (▲50% YoY)

• Benchmark Price: $472,000 (No YoY change)

• New Listings: 9 (▲13%)

• Sales-to-Listings Ratio: 100% → Balanced/Strong market

• Months of Supply: 1.78 (▲113%)

• Market Trend: Solid demand keeps this segment competitive; popular among downsizers and young families.

🔹 Apartments

• Sales: 10 units (▼33% YoY)

• Benchmark Price: $363,800 (▼5% YoY)

• New Listings: 27 (▲69%)

• Months of Supply: 3.4 (▲467%)

• Sales-to-Listings Ratio: 37%

• Market Trend: High inventory levels and price softness signal strong buyer leverage.

🏫 Schools in Auburn Bay

Auburn Bay is a family-oriented lake community with access to excellent schools:

• Auburn Bay School (K–4) – Calgary Board of Education

• Prince of Peace School (K–9) – Calgary Catholic School District

• Lakeshore School (Grades 5–9) – Opened recently to serve the growing SE population

Nearby schools in Mahogany and Seton also support Auburn Bay families, offering options for French immersion and high school programs.

🌟 Community Features & Events

Auburn Bay is designed around a 43-acre freshwater lake, making it one of Calgary’s premier four-season lifestyle communities. Key features include:

• Auburn House – The private lake-access community center with gym, rental halls, skating rinks, paddleboats, and beach access.

• Auburn Bay Dog Park – A large off-leash area for pet owners.

• Seton Urban District – Within minutes, offering the South Health Campus, YMCA, Cineplex, shopping, and dining.

• Pathway Connections – Interwoven green spaces, bike trails, and parks make it an active living hub.

• Neighbour Day BBQ (June 15): Family event with food trucks and music.

📌 Key Insights for Buyers & Sellers

✅ For Buyers:

• Detached and apartment buyers have strong negotiating power due to rising inventory.

• Row homes offer solid value and competition is stronger; act quickly when new listings hit.

• Get pre-approved and work with a local expert to stay ahead of pricing shifts.

✅ For Sellers:

• Price competitively and prepare for more Days on Market in most segments.

• Highlight Auburn Bay lifestyle features (lake access, schools, walkability).

• Focus on condition, staging, and professional marketing to stand out.

The Auburn Bay market in May 2025 is shifting toward balance, with increased inventory and slower sales in most segments. However, demand for affordable, lifestyle-oriented housing such as row homes remains strong. Sellers need to be strategic, and buyers have emerging opportunities — particularly in detached and apartment categories.

In May 2025, Calgary saw a surge of demand for detached homes, with several properties selling within just a few days of hitting the market. These quick sales were typically characterized by competitive pricing, desirable styles (especially bungalows and bi-levels), and well-located communities.

📌 Key Highlights:

• Fastest-Selling Communities by volume:

  • Brentwood led the city with 6 fast sales, averaging $831,379 per home.

  • West Hillhurst, Varsity, and Oakridge followed, each with multiple quick transactions.

• Property Styles:

  • Bungalows dominated the market, prized for their single-level layouts.

  • Bi-levels and 4-level splits were also popular, especially in suburban neighborhoods.

• Size and Price:

  • Average size for fast-selling homes ranged from 750 to over 2,000 sq ft.

  • The highest price per square foot was recorded in West Hillhurst at $1,038/sqft, due to smaller but high-value inner-city properties.

• Price vs. List:

  • Many homes sold at or above list price, indicating a competitive environment.

  • Example: A property in Penbrooke Meadows listed at $399,900 sold in just 4 days for $350,000 — a quick transaction despite a discount, likely due to location or condition factors.

  • Conversely, a home in West Hillhurst sold at asking price of $990,000 in 1 day, reflecting strong buyer demand.

🏡 Sample of Quick Sales:

📊 Sold Price vs Listing Price Analysis

Homes that sold quickly often did so in a competitive pricing environment. We calculated the Sold-to-List Price Ratio (Sold Price ÷ Listing Price), a key metric to understand market demand and pricing strategy:

• 🔼 Over List Price (Ratio > 100%):
  ~31% of quick-sale homes sold above their listing price, suggesting bidding wars or underpricing strategies.
  Example:

  • Brentwood Bungalow – Listed at $699,900, sold for $750,000 → 107.1% of list price

  • Southview Bungalow – Listed at $399,900, sold for $430,000 → 107.5%

• ⚖️ At List Price (Ratio ≈ 100%):
  Around 44% of homes sold at list price, indicating accurate market pricing.
  Example:

  • Oakridge Bungalow – Listed and sold at $849,900 → 100%

• 🔽 Below List Price (Ratio < 100%):
  The remaining 25% sold below asking, often due to condition, location, or aggressive negotiation.
  Example:

  • Penbrooke Meadows Bi-Level – Listed at $399,900, sold for $350,000 → 87.5%

📌 Top Performing Communities by Price Strength

🔍 Insight Summary

• Buyers acted fastest in Brentwood, which also had the highest number of quick sales.

• Bungalows remain the dominant preference, likely due to accessibility, layout efficiency, and lot size.

• Homes in inner-city and well-established areas (West Hillhurst, Varsity) sold especially fast, often at or above list price.

• Accurate pricing continues to be crucial. Homes priced close to market value are selling at or above list within days.

What happened in Auburn Bay in May 2025, please find market update here.

Timeframe: May 1–27, 2025
Total SOLD Listings: 33

Current Active Listings: 88
Current Pending Listings: 17

Average Days on Market (DOM): 27.8 days

In May 2025, Auburn Bay’s real estate scene showcased a compelling narrative: homes that combine lifestyle appeal with smart upgrades are selling in under two weeks. A review of the 10 quickest sales DETACHED houses—ranging from 6 to 16 days on market (DOM)—reveals insightful trends about buyer priorities and winning listing strategies.

🔍 Key Trends Among Fast-Selling Listings

1. Speed Sells, But So Does Size

• Average DOM: 11.3 days

• Size Range: 1,194 to 2,586 sq.ft.

• These properties weren’t all small or entry-level; in fact, larger homes (2,200+ sq.ft.) with upgraded features sold just as quickly as mid-sized ones.

2. 🏠 Basement Development Is a Major Draw

• 90% of these homes had fully finished basements.

• Homes with basement suites or rec space appealed to multi-generational families and remote workers.

• Examples:

  • xxx Auburn Bay Ave featured a walk-out suited basement.

  • xxx Auburn Glen Manor had a fully developed basement with a wet bar, bedroom, and rec room.

3. 🚗 Garage Configuration Matters

• All homes had attached or detached double garages, except one with a single attached.

• Heated or oversized garages added extra appeal, particularly for buyers prioritizing winter comfort or storage.

4. ❄️ Comfort Upgrades Move Homes

• Homes with central air conditioning, newer roofs, solar panels, or quartz/granite countertops stood out.

• Example: xxx Auburn Glen Manor included $26K in solar panels and fresh upgrades, making it energy-efficient and modern.

5. 🌿 Backyard & Greenspace Access Is Gold

• Many quick-sellers backed onto green spaces, ponds, or the lake.

• Buyers prioritized privacy, views, and outdoor living—including decks, pergolas, and upgraded landscaping.

6. 🛋️ Interior Layout & Style Matter

• Bright, open-concept main floors with modern kitchens (islands, upgraded appliances, and pantries) were consistent features.

• Homes like xxx Auburn Crest Way featured chef-style kitchens and hardwood floors, attracting style-conscious buyers.

📍 Why Are Buyers Acting So Fast?

Auburn Bay offers:

• Lake access year-round (paddleboarding, skating, beach)

• Family-centered community with top-rated schools, South Health Campus, and shopping nearby

• Limited quality inventory, especially under $850K, pushing buyers to act fast when well-priced homes hit the market

🧠 What This Means for Sellers

• Pricing competitively, even slightly below market, may spark quick interest and multiple offers.

• Prepping your home with minor upgrades (e.g., fresh paint, updated lighting, finished basement) is worth the return.

• Professional photography, open houses, and strong listing descriptions help create momentum in the first 72 hours.

🏁 The fastest-sold homes in Auburn Bay this May highlight a balanced but active market. Buyers know what they want—move-in-ready homes with space, comfort, and curb appeal. For sellers looking to move quickly and profitably, aligning with these expectations is key. For a free evaluation, please submit here.

Priced $30,000 Below City Assessment! Welcome to this beautifully updated 5-bedroom, 3-bathroom home in the highly desirable community of Varsity. Situated on a corner lot just steps from Varsity Ravine Park, this property offers the perfect blend of comfort, convenience, and value. With over 1,800 square feet of developed space, it's ideal for families of all sizes or anyone seeking a spacious, move-in-ready home in northwest Calgary. The main floor features a wide, welcoming entrance that opens into a bright, west-facing living room. Large windows flood the space with natural light, creating a warm and inviting atmosphere for everyday living or entertaining. The open-concept kitchen is both functional and stylish, with ample cabinet space, generous countertops, and quality appliances. The primary bedroom includes a private 2-piece ensuite and a large closet. Two additional bedrooms and a full bathroom complete the main floor. The fully developed basement expands your living space with a large recreation room—perfect for movie nights, hobbies, or a home gym. You'll also find a dedicated office space and two extra bedrooms, making this level ideal for teens, guests, or multi-generational living. You'll also find a dedicated office space and two extra bedrooms, making this level ideal for teens, guests, or multi-generational living. A third full bathroom adds to the home’s comfort and flexibility. Out back, enjoy a large yard and an elevated deck equipped with a gas line—ideal for summer BBQs or relaxing in the sun. A new oversized double garage, built in 2023 and valued at approximately $50,000, offers ample space for two vehicles, bikes, tools, and storage. Additionally, the attached single garage offers potential for conversion into a workshop, guest suite, home office, or recreation room. This home is close to the LRT (a pleasant stroll through the park!), Market Mall (perfect for winter mall walkers!), Bowmont Park (river paths and bike trails!), gyms (brand new GoodLife Fitness!), hospitals, the U of C, and several highly rated schools, including Winston Churchill. It also provides easy access to major routes like Crowchild Tr. and 16th Ave.—making commuting downtown or escaping to the mountains quick and easy. Don’t miss this incredible opportunity to own a spacious, well-maintained home in one of Calgary’s most established and convenient neighborhoods—at a price well below city assessment!

Balanced conditions take pressure off prices

A boost in new listings this month relative to sales caused April inventories to rise to 5,876 units. Although this is more than double the number reported last year, last year’s supply was exceptionally low, and current inventory levels are consistent with what we typically see in April. April sales reached 2,236 units—22 per cent below last year’s levels but in line with long-term trends.

“Economic uncertainty has weighed on home sales in our market, but levels are still outpacing activity reported during the challenging economic climate experienced prior to the pandemic,” said Ann-Marie Lurie, Chief Economist at CREB®. “This, in part, is related to our market's situation before the recent shocks. Previous gains in migration, relatively stable employment levels, lower lending rates, and better supply choice compared to last year’s ultra-low levels have likely prevented a more significant pullback in sales and have kept home prices relatively stable.”

The rise in inventory levels helped the market shift to balanced conditions with nearly three months of supply. However, conditions vary depending on price range and property type. Lower-priced detached and semi-detached properties continue to struggle with insufficient supply, while row and apartment-style homes are seeing more broad-based shifts to balanced conditions.

The additional supply has helped relieve the pressure on home prices following the steep gains reported over the past several years. Benchmark prices for each property type have remained relatively stable compared to last month. However, compared to last year, detached and semi-detached prices are over two per cent higher than last year's levels, while apartment and row-style home prices have remained relatively unchanged.

Detached

Detached sales were 1,102 units in April, a year-over-year decline of 16 per cent. While sales eased across most areas of the city, the South East district has seen sales rise over last year's levels. April saw 1,907 new listings come onto the market, and the sales-to-new-listings ratio remained balanced at 58 per cent. Inventories rose to 2,511 units, and the months of supply rose to 2.3 months. While this is a significant gain over the less than one month of supply reported last year at this time, conditions remain relatively tight, especially in the lower price ranges.

In April, the unadjusted benchmark price reached $769,300, similar to last month but over two per cent higher than last April. The added supply choice, combined with uncertainty, has slowed the pace of price growth. However, with a year-over-year gain of nearly five per cent, the City Centre has exhibited stronger price growth than any other district.

Semi-Detached

Easing sales in April contributed to the year-to-date decline of nearly 16 per cent. The 190 sales in April were met with 350 new listings, and the sales-to-new-listings ratio fell to 54 per cent. This also caused further gains in inventory levels, which reached 484 units. The rise in inventory did help push the market toward balanced conditions with 2.6 months of supply, a significant improvement over the less than one month reported at this time last year.

The shift toward more balanced conditions has slowed the pace of price growth. In April, the unadjusted benchmark price was $691,700, similar to last month and over three per cent higher than last year. The City Centre reported the largest gain, at over five per cent, while prices in the North remained stable compared to last year.
 

Row

April sales slowed for row homes, contributing to the year-to-date decline of 16 per cent. Meanwhile, new listings continued to rise compared to last year, driving the sales-to-new-listings down to 51 per cent. In April, inventories reached 1,005 units, the highest level reported since 2021, and the months of supply rose to nearly three months. Improved supply has taken some of the pressure off prices,

In April, the unadjusted row price was $457,400, a slight gain over last month, but relatively unchanged compared to April of last year and still below last year's peak price reported in June. The pullbacks reported in the North and North East districts offset year-over-year gains in most districts.
 

Apartment Condominium

April sales eased by nearly 30 per cent over last year's record high but were far stronger than long-term trends. While sales have remained relatively strong, new listings in April reached a record high for the month, supporting further gains in inventory levels. With three months of supply in the city, conditions are considered relatively balanced. However, activity does range significantly based on location, impacting price movements.

The North East district reported the highest months of supply at seven months, resulting in a year-over-year price decline of two per cent and a spread of over seven per cent from last year's high. Overall, the April benchmark price in the city was $336,000, similar to last year but still three per cent lower than last year's record high.

Contact us for a Free Home Evaluation.

Rangeview, one of Calgary’s emerging garden-to-table inspired communities, continued its growth trajectory in April 2025 with expanding inventory and rising sales activity. Although prices experienced some downward adjustment across property types, the area’s appeal remains strong due to its innovative design, community gardens, and growing family-friendly infrastructure.

📊 Overall Market Overview

• Total Sales: 9 (↑12.5% Y/Y)

• New Listings: 22 (↑175% Y/Y)

• Inventory: 42 units (↑950% Y/Y)

• Months of Supply: 4.67 (↑833% Y/Y)

• Benchmark Residential Price: $667,500 (↓1.7% Y/Y)

With months of supply rising to 4.67, Rangeview has moved into a more balanced-to-buyers' market, offering greater choice for homebuyers and improved negotiation opportunities.

🏡 Property Type Breakdown

🏠 Detached Homes

• Benchmark Price: $679,900 (↓4.9% Y/Y)

• Trend: Slight downward pressure on pricing

Detached homes remain the predominant product in Rangeview. Although prices have pulled back slightly, this segment still appeals to families attracted to the area’s large lots, growing school options, and proximity to Mahogany and Seton amenities. Buyers are benefiting from more inventory and fewer bidding wars compared to the peak months of 2023–2024.

🏘 Semi-Detached Homes

• Benchmark Price: $598,277 (↓11.8% Y/Y)

• Trend: Price correction observed

Semi-detached homes experienced the most significant price adjustment in April. This offers a window of opportunity for entry-level buyers or downsizers looking for affordability with access to greenspace, pathways, and community events. Inventory expansion in this category has also added pressure on sellers to remain competitive.

🏢 Row / Townhomes

• Benchmark Price: $494,900 (↓13.1% Y/Y)

• Trend: Affordability advantage despite decline

Townhomes continue to attract first-time buyers and investors due to their price point and lower maintenance. The notable price dip reflects a correction from rapid gains in previous quarters. Builders in the area continue to market townhomes from $510,000+, indicating value opportunities in resale units.

🌱 Community Activities & News – April 2025

🥕 Urban Agriculture & Community Gardening

Rangeview continued hosting its signature garden programming this month. Residents participated in:

• Spring planting workshops

• Community composting tutorials

• Garden plot assignments and seeding events

The community’s food-focused design, with edible landscaping and communal greenhouses, is drawing attention from buyers seeking sustainable living.

🏫 Family-Oriented Growth

• Construction started on the first K-6 public school, set to open in 2026

• Weekly pop-up markets returned to the Rangeview Plaza, featuring local produce, artisans, and food trucks

• New daycare and wellness studio opened along Rangeview Boulevard

These amenities and services add to the neighborhood's appeal for young families and health-conscious buyers.

📈 Market Outlook

Rangeview is transitioning from a niche concept to a vibrant, full-service community. While short-term price corrections have occurred due to inventory buildup, long-term demand remains supported by:

• Unique garden-centric urban planning

• Proximity to Seton, South Health Campus, and Mahogany retail hubs

• Family-focused amenities under development

Buyers looking to establish roots in a progressive, lifestyle-driven community will find exceptional opportunities in Rangeview during this market phase.

Contact us for a Free Home Evaluation.

For latest community market report, SIGNUP HERE.

A boost in new listings this month relative to sales caused April inventories to rise to 5,876 units. Although this is more than double the number reported last year, last year’s supply was exceptionally low, and current inventory levels are consistent with what we typically see in April. April sales reached 2,236 units—22 per cent below last year’s levels but in line with long-term trends.

“Economic uncertainty has weighed on home sales in our market, but levels are still outpacing activity reported during the challenging economic climate experienced prior to the pandemic,” said Ann-Marie Lurie, Chief Economist at CREB®. “This, in part, is related to our market's situation before the recent shocks. Previous gains in migration, relatively stable employment levels, lower lending rates, and better supply choice compared to last year’s ultra-low levels have likely prevented a more significant pullback in sales and have kept home prices relatively stable.”

The rise in inventory levels helped the market shift to balanced conditions with nearly three months of supply. However, conditions vary depending on price range and property type. Lower-priced detached and semi-detached properties continue to struggle with insufficient supply, while row and apartment-style homes are seeing more broad-based shifts to balanced conditions. 

The additional supply has helped relieve the pressure on home prices following the steep gains reported over the past several years. Benchmark prices for each property type have remained relatively stable compared to last month. However, compared to last year, detached and semi-detached prices are over two per cent higher than last year's levels, while apartment and row-style home prices have remained relatively unchanged.   

Detached
Detached sales were 1,102 units in April, a year-over-year decline of 16 per cent. While sales eased across most areas of the city, the South East district has seen sales rise over last year's levels. April saw 1,907 new listings come onto the market, and the sales-to-new-listings ratio remained balanced at 58 per cent. Inventories rose to 2,511 units, and the months of supply rose to 2.3 months. While this is a significant gain over the less than one month of supply reported last year at this time, conditions remain relatively tight, especially in the lower price ranges.

In April, the unadjusted benchmark price reached $769,300, similar to last month but over two per cent higher than last April. The added supply choice, combined with uncertainty, has slowed the pace of price growth. However, with a year-over-year gain of nearly five per cent, the City Centre has exhibited stronger price growth than any other district.

Semi-Detached
Easing sales in April contributed to the year-to-date decline of nearly 16 per cent. The 190 sales in April were met with 350 new listings, and the sales-to-new-listings ratio fell to 54 per cent. This also caused further gains in inventory levels, which reached 484 units. The rise in inventory did help push the market toward balanced conditions with 2.6 months of supply, a significant improvement over the less than one month reported at this time last year.

The shift toward more balanced conditions has slowed the pace of price growth. In April, the unadjusted benchmark price was $691,700, similar to last month and over three per cent higher than last year. The City Centre reported the largest gain, at over five per cent, while prices in the North remained stable compared to last year.

Row
April sales slowed for row homes, contributing to the year-to-date decline of 16 per cent. Meanwhile, new listings continued to rise compared to last year, driving the sales-to-new-listings down to 51 per cent. In April, inventories reached 1,005 units, the highest level reported since 2021, and the months of supply rose to nearly three months. Improved supply has taken some of the pressure off prices,

In April, the unadjusted row price was $457,400, a slight gain over last month, but relatively unchanged compared to April of last year and still below last year's peak price reported in June. The pullbacks reported in the North and North East districts offset year-over-year gains in most districts.

Apartment Condominium
April sales eased by nearly 30 per cent over last year's record high but were far stronger than long-term trends. While sales have remained relatively strong, new listings in April reached a record high for the month, supporting further gains in inventory levels. With three months of supply in the city, conditions are considered relatively balanced. However, activity does range significantly based on location, impacting price movements.

The North East district reported the highest months of supply at seven months, resulting in a year-over-year price decline of two per cent and a spread of over seven per cent from last year's high. Overall, the April benchmark price in the city was $336,000, similar to last year but still three per cent lower than last year's record high.

REGIONAL MARKET FACTS

Airdrie
For the third month in a row, sales activity eased compared to last year's levels. Despite the declines, sales remain above long-term trends. At the same time, new listings continue to rise, but with 185 sales and 290 new listings in April, the sales-to-new listings ratio reached 64 per cent, an improvement over recent months. Inventory levels continued to trend up this month. However, after three consecutive years of exceptionally low April levels, inventory is now consistent with long-term trends. With 2.3 months of supply, conditions are moving to a more balanced state, taking the pressure off home prices. In April, the total residential price was $544,700, relatively unchanged compared to both last month and last year's levels.

Cochrane
For the fourth month in a row, sales activity in the area has remained consistent with last year's levels, resulting in 335 sales so far this year, a nearly five per cent gain over last year and consistent with long-term trends. New listings have also been on the rise, but the sales-to-new-listings ratio has remained at 60 per cent, preventing the doubling of inventory in this market. While inventory levels have improved compared to last year, the 246 units available in April are just shy of long-term trends. Like other areas, improvements in supply have slowed the pace of price growth, but in Cochrane, prices are still edging up. In April, the total residential benchmark price was $592,000, trending up over last month and nearly six per cent higher than prices reported in the previous year and at a record high.

Okotoks
Sales in Okotoks continue to ease compared to last year, contributing to the year-to-date decline of 16 per cent. Over the past few years, sales have been restricted by a lack of supply. However, this year we have started to see a shift. New listings continue to improve in April compared to sales, causing the sales-to-new-listings ratio to ease to 53 per cent, supporting inventory gains. However, with 127 units in inventory in April, levels remain below long-term trends for the month. The modest gains in inventory have slowed the pace of price growth in the area. As of April, the unadjusted benchmark price was $627,100, down slightly from last month, but nearly two per cent higher than last April.

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Auburn Bay, one of Calgary’s premier lake communities in the southeast, continues to draw buyers with its family-friendly amenities, strong community atmosphere, and scenic lakeside lifestyle. April 2025 saw notable activity across all property types, fueled by robust demand and rising inventory. The market remains competitive, particularly for detached and apartment-style homes.

Market Highlights by Property Type

🏡 Detached Homes

• Sales: 22 homes sold (+47% year-over-year)

• Benchmark Price: $822,300 (+2.3% Y/Y)

• Inventory: 28 units

• New Listings: 28

• Months of Supply: 2.1

Detached homes remain the most desirable option in Auburn Bay, often featuring larger lots, private backyards, and proximity to the lake or green space. The balance between listings and sales indicates healthy absorption. Price stability reflects sustained buyer confidence in high-value properties.

🏘 Semi-Detached Homes

• Sales: 2 homes sold (-33% Y/Y)

• Benchmark Price: $534,100 (+2.4% Y/Y)

• Inventory: 5 units

• New Listings: 5

• Months of Supply: 2.0

Semi-detached homes saw a slight dip in sales, with limited inventory keeping prices firm. These properties are ideal for buyers seeking the feel of a detached home at a more accessible price, often popular with downsizers and first-time buyers.

🏠 Row / Townhouses

• Sales: 9 homes sold (-18% Y/Y)

• Benchmark Price: $475,200 (+1.6% Y/Y)

• Inventory: 12 units

• New Listings: 12

• Months of Supply: 1.3

Townhouses offer a balance between affordability and space. Despite a dip in annual sales, the segment remains active, especially among younger families and investors. Inventory levels are slightly higher, offering buyers more options.

🏢 Apartment Condominiums

• Sales: 17 units sold (+21% Y/Y)

• Benchmark Price: $369,400 (+2.1% Y/Y)

• Inventory: 15 units

• New Listings: 15

• Months of Supply: 1.6

Apartments saw the strongest annual sales growth, reflecting an uptick in demand for affordable entry points into Auburn Bay. Inventory is balanced, and prices remain stable. This segment appeals to first-time buyers, investors, and empty nesters alike.

Community Features & Lifestyle Appeal

🏞 Lake Living & Recreation
Auburn Bay’s 43-acre freshwater lake and beach are its standout features, offering year-round recreation: paddleboarding and swimming in summer, skating and ice fishing in winter.

🏫 Family-Friendly Environment
With several schools like Auburn Bay School (K-4) and St. Gianna School, and access to future high school plans, the community is ideal for families. Multiple parks and playgrounds reinforce this appeal.

🛍 Shopping & Services
Seton Urban District and Auburn Station provide grocery stores, fitness centres, banks, cafes, and restaurants just minutes away. The nearby South Health Campus offers top-tier medical services.

🚇 Transportation Access
Easy access to Deerfoot and Stoney Trail ensures connectivity. Future LRT expansion in Seton will further enhance accessibility.

👨‍👩‍👧‍👦 Demographics & Lifestyle
The neighborhood attracts professionals, young families, and retirees. Its clean, walkable streets and strong homeowners’ association contribute to high community standards and pride of ownership.

Auburn Bay’s April 2025 real estate performance reflects its continued desirability as a lifestyle community. While detached homes and apartments remain strong, townhomes and semi-detached units offer additional choices across budgets. With balanced market conditions and growing amenities in nearby Seton, Auburn Bay is well-positioned for sustainable long-term demand.

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Seton continues to establish itself as one of Calgary’s fastest-growing and amenity-rich neighborhoods in the southeast. Known for its urban design, South Health Campus, and vibrant retail and recreation offerings, Seton remains attractive to both investors and end-users. The market in April 2025 showed significant activity across all housing types, supported by rising new listings and inventory levels, while prices remain competitive compared to builder show home offerings.

📈 Overall Market Summary

• Total Sales: 33 (↑ 73.7% year-over-year)

• New Listings: 72 (↑ 200% Y/Y)

• Inventory: 119 units (↑ 376% Y/Y)

• Months of Supply: 3.61 (↑ 174% Y/Y)

• Benchmark Residential Price: $483,500 (↑ 1.2% Y/Y)

Market conditions have shifted toward balance with growing supply, allowing buyers more options. However, homes remain competitively priced against builder show homes, offering strong value.

🏡 Detached Homes

• Benchmark Price: $774,400 (↑ 0.6% Y/Y)

• Market Trend: Slight upward movement

Detached homes in Seton are limited in availability but continue to command higher benchmark prices. Compared to builder show homes in nearby Mahogany and Legacy, which often start in the mid $800Ks for similar size and finish, resale detached properties in Seton offer a discount of 5–10%, making them attractive for value-conscious buyers who want access to urban amenities.

🏘 Semi-Detached Homes

• Benchmark Price: $596,900 (↑ 1.5% Y/Y)

• Market Trend: Steady growth

Semi-detached homes are seeing increased interest from young families and downsizers. Builder models in Seton or Cranston average from $615,000–$650,000, depending on upgrades and lot premiums. Buyers can find well-maintained resale semi-detached homes at a modest discount, especially appealing with the current inventory growth.

🏠 Row/Townhomes

• Benchmark Price: $484,100 (↑ 2.5% Y/Y)

• Market Trend: Stable with positive appreciation

Townhomes in Seton remain a hot segment thanks to affordability and modern layouts. With builder pricing from $500,000+ for new units by Brookfield Residential and Rohit Communities, the resale market offers savings while avoiding the long construction timelines. Newer resale units with attached garages are particularly desirable.

🏢 Apartment Condominiums

• Benchmark Price: $380,900 (↓ 1.6% Y/Y)

• Market Trend: Slight pullback

While benchmark prices softened slightly, apartment sales remain strong due to affordability and proximity to the South Health Campus, Seton YMCA, and future LRT. New-build condos in Seton (e.g., Logel Homes, Cedarglen Living) are currently marketed between $399,000 and $430,000, depending on floor plan and finishings. Resale listings offer better price per square foot in some cases and quicker possession dates.

Outlook & Buyer Insights

With active construction in the community and ample inventory on the resale side, Seton offers diverse homeownership options at all price points. While builder prices are rising due to material and labor costs, resale properties remain highly competitive, especially for buyers seeking move-in ready homes.

The expansion of retail services, parks, and transit infrastructure will continue to support long-term price appreciation. Buyers should act strategically in this balanced market to secure high-quality properties below the cost of equivalent new builds.

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Mahogany, Calgary’s largest lake community in the southeast, continues to attract homebuyers with its unparalleled waterfront lifestyle, walkable design, and proximity to Seton Urban District. Despite a modest year-over-year drop in overall sales, market activity remains stable and pricing shows resilience across key property types. Community vibrancy, expanding amenities, and ongoing events continue to enhance Mahogany’s long-term value.

📊 Overall Market Snapshot

• Total Sales: 41 (↓2.4% Y/Y)

• New Listings: 81 (↑44.6% Y/Y)

• Inventory: 150 (↑134% Y/Y)

• Months of Supply: 3.66 (↑140% Y/Y)

• Total Residential Benchmark Price: $589,400 (↓1.7% Y/Y)

Increased supply has brought greater balance to the market, offering more options for buyers without significant downward pressure on prices.

🏡 Breakdown by Property Type

Detached Homes

• Benchmark Price: $826,800 (↑1.0% Y/Y)

• Trend: Steady appreciation

Detached homes remain Mahogany’s flagship offering, especially those near the lakefront or wetlands. These properties are in demand among move-up buyers and families seeking more space and premium finishes. The strong pricing and ongoing buyer interest indicate continued strength in this segment.

Semi-Detached Homes

• Benchmark Price: $583,400 (↑2.1% Y/Y)

• Trend: Moderate growth

Semi-detached homes offer an attractive blend of affordability and comfort, often located near parks and schools. This segment has seen healthy appreciation and is increasingly appealing to downsizers and young families entering the market.

Row/Townhomes

• Benchmark Price: $501,600 (↑2.3% Y/Y)

• Trend: Strong interest, especially in newer builds

Row homes remain one of the most active segments in Mahogany due to their affordability and design appeal. Many units feature double garages and front porches, adding to their popularity among first-time buyers and investors.

Apartment Condominiums

• Benchmark Price: $361,900 (↓1.1% Y/Y)

• Trend: Slight decline but stable demand

Apartments experienced a modest price pullback, though demand remains solid due to affordability and proximity to the Seton hospital, Mahogany Village Market, and public transit. Condos appeal to singles, seniors, and professionals.

📰 Community Highlights

🏖 Lake Life Reawakens

Spring weather brought renewed activity to Mahogany Beach Club, with families enjoying lakeside walking trails, paddleboarding, and the reopening of picnic areas. Membership renewals were strong, and early-season programming (e.g., paddle yoga, sailing lessons) saw high registration.

🏪 Retail Expansion

The Mahogany Village Market welcomed new tenants in April, including a boutique fitness studio and a local coffee roaster. This expansion boosts convenience for residents and adds to walkability appeal.

🚧 Future Development News

Hopewell Residential announced progress on west Mahogany’s next phase, which will include a new K-6 school site, playgrounds, and enhanced wetland access. Completion is expected by 2027.

Mahogany remains one of Calgary’s most desirable neighborhoods, especially for lifestyle-focused buyers. While sales activity was slightly down, growing inventory and stable pricing across most segments reflect a maturing, balanced market. The community's recreational amenities, planned school developments, and thriving retail options continue to support long-term home value appreciation.

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