On March 4, 2025, the United States implemented a 25% tariff on most Canadian goods and a 10% tariff on Canadian energy imports. These measures, aimed at addressing concerns over drug trafficking and cartel activities, have significant implications for various sectors of the Canadian economy, including real estate. (businessinsider.com)

This article examines the potential effects of these tariffs on Calgary's real estate market.

1. Increased Construction Costs

The tariffs are expected to raise the cost of construction materials such as lumber, steel, and aluminum. This escalation in material costs could lead to higher prices for new homes, making affordability a growing concern for potential homeowners across Canada. Additionally, developers may postpone or cancel projects due to increased expenses, potentially exacerbating the existing housing supply shortage. (realtor.com)

2. Economic Slowdown and Housing Demand

The imposition of tariffs could slow economic growth, particularly affecting sectors like manufacturing and energy that are integral to Canada's economy. A slowdown may result in job losses and reduced consumer confidence, leading to decreased demand in the housing market. Consequently, home sales could decline, and property values might stagnate or decrease, especially in higher-priced neighborhoods. (realeconomy.rsmus.com)

3. Potential Interest Rate Adjustments

In response to economic uncertainty and potential inflationary pressures from increased import costs, the Bank of Canada might adjust interest rates. Higher interest rates would raise borrowing costs, further reducing affordability for prospective homebuyers and potentially dampening real estate market activity. (realeconomy.rsmus.com)

4. Impact on the Rental Market

As homeownership becomes less attainable due to rising prices and borrowing costs, more individuals may turn to renting. This shift could increase demand in the rental market, leading to higher rents and reduced vacancy rates. Investors might find opportunities in the multi-family rental sector, capitalizing on the heightened demand.

5. Energy Sector Considerations

The 10% tariff on Canadian energy exports poses challenges for Canada's energy sector, a cornerstone of the national economy. Reduced competitiveness in the U.S. market could lead to decreased revenues, job cuts, and diminished investment in energy projects. These developments may have a cascading effect on the real estate market, particularly in regions with high concentrations of energy sector workers. (apnews.com)

The U.S. tariffs introduced on March 4, 2025, are poised to impact Calgary's real estate market through increased construction costs, potential economic slowdown, interest rate fluctuations, shifts in the rental market, and challenges in the energy sector. Stakeholders, including policymakers, developers, investors, and consumers, should closely monitor these developments and adapt strategies accordingly to navigate the evolving landscape.

In February 2025, Calgary's real estate market showed a shift from the strong seller’s market seen in previous years. While sales remain above long-term trends, there was a 19.3% decrease in sales compared to February 2024, with 1,721 transactions recorded. Meanwhile, inventory levels increased 75.6% year-over-year, reaching 4,145 units, creating a more balanced market.

The total residential benchmark price was $587,600, reflecting a 4.4% increase compared to the same month last year. However, the months of supply more than doubled to 2.41 months, indicating that homes are taking longer to sell.

Sales and Pricing Trends by Property Type

• Detached homes saw the highest sales volume (765 units), though sales were down 19.6% YoY. Prices increased by 5.1% to $760,500.

• Semi-detached homes had 165 sales, with prices up 6.9% YoY, reaching $683,500.

• Row homes experienced a 9.4% drop in sales but still saw a 2.8% price increase to $446,800.

• Apartments had 473 sales, marking a 26% decline YoY, while prices rose 4% to $334,200.

Market Dynamics & Trends

• Inventory Growth: February’s inventory level surged 76% year-over-year, mainly driven by more listings in the affordable apartment and row home segments.

• Sales Decline: Despite historical trends, sales were down 19% YoY, showing that rising interest rates and affordability concerns are impacting buyers.

• Slower Price Growth: While home prices still increased across all property types, the pace of appreciation has slowed compared to 2024.

• Higher Days on Market: The average days on market for a home in Calgary increased to 33 days, up from 24 days last February.

Regional Highlights

• City Centre saw a 1.0% annual price increase, with a benchmark price of $589,500.

• North West Calgary had a 1.1% price growth, bringing the benchmark price to $646,300.

• The East district recorded the highest price increase at 3.2%, with a benchmark price of $432,500.

• The South district remained one of the most competitive, with the lowest months of supply at 1.6 months.

Outlook for March 2025

With rising inventory and slower sales, Calgary's market is transitioning toward more balanced conditions. Buyers now have more options, while sellers may need to adjust pricing expectations to remain competitive. If interest rates stabilize, market activity may pick up in the coming months.

The Seton real estate market experienced notable activity in February 2025, with a 6% year-over-year increase in sales, reaching 34 transactions. Inventory saw a significant 172% rise, totaling 87 available homes, which contributed to a months-of-supply ratio of 2.56. This suggests a more balanced market compared to previous months.

Benchmark prices in Seton remained steady with an overall residential price of $477,400, reflecting a 3.3% year-over-year increase. Prices varied by property type:

• Detached homes: $772,500 (+5% YoY)

• Semi-detached homes: $593,900 (+6% YoY)

• Row homes: $469,800 (+4% YoY)

• Apartments: $382,000 (+3% YoY)

New listings rose by 3% YoY to 40, indicating growing seller interest, while the sales-to-new-listings ratio was 85%, demonstrating continued demand for housing in Seton.

Community and Shopping Features

Seton is a rapidly developing, mixed-use community in Southeast Calgary, offering a modern urban lifestyle with a blend of residential, commercial, and recreational amenities.

Retail & Shopping

• Seton Urban District: A vibrant hub featuring major retailers, dining options, and services.

• South Health Campus Market: Local stores and cafes catering to both residents and visitors.

• Shopping Centers Nearby:

  • Seton Gateway Plaza: Home to grocery stores, banks, and essential services.

  • Calgary Co-op & Superstore: Providing convenient grocery and pharmacy options.

  • Shawnessy Shopping Centre (short drive away): Features large retailers, restaurants, and entertainment.

Recreational & Lifestyle Amenities

• Brookfield Residential YMCA: One of the largest recreational facilities in Calgary, offering pools, fitness centers, and indoor sports.

• Cineplex VIP Theatre: A premium entertainment venue for moviegoers.

• Seton Central Park: A gathering space with walking trails and outdoor activities.

• South Health Campus: A major medical facility with fitness and wellness programs.

Seton continues to grow as a desirable community with increasing housing demand, modern amenities, and a well-planned urban design.

The Rangeview real estate market showed steady growth in February 2025, with 9 sales, reflecting a 50% year-over-year increase. Inventory levels rose significantly by 289%, reaching 35 available properties, leading to a months-of-supply ratio of 3.89—a shift towards a more balanced market.

Benchmark prices in Rangeview varied by property type:

• Detached homes: $757,450 (+5.9% YoY)

• Semi-detached homes: $605,000 (-5.5% YoY)

• Total residential price: $605,000 (-12.0% YoY)

New listings saw a 78% year-over-year increase, reaching 16 new listings, while the sales-to-new-listings ratio was 56%, indicating a moderate level of buyer demand.

Community Features

Rangeview is a growing residential community in Southeast Calgary, offering a unique blend of modern living and natural landscapes. The neighborhood is designed with a garden-to-table concept, emphasizing sustainability, fresh food, and a strong sense of community.

Key Attractions & Amenities

• Parks & Green Spaces: The area is designed with community gardens, parks, and walking trails, making it ideal for outdoor enthusiasts.

• Future Urban Market District: Plans for a market space with local produce, specialty shops, and dining options.

• Schools & Education: Rangeview is planning new schools to support its growing population.

• Retail & Shopping Nearby:

  • East Hills Shopping Centre (10 min drive) – Features Costco, Walmart, and various dining options.

  • Seton Urban District (15 min drive) – Offers grocery stores, entertainment, and medical facilities.

  • Mahogany Village Market (short drive) – Provides local cafes, restaurants, and small businesses.

Rangeview continues to attract buyers looking for affordable homeownership, modern amenities, and a nature-focused lifestyle.

The Auburn Bay real estate market in February 2025 saw a significant slowdown in sales activity compared to the same period last year. With only 18 total residential sales, this represents a 59% decline year-over-year (Y/Y). However, inventory levels increased to 49 available listings, an 88% increase Y/Y, leading to a rise in the months of supply, now standing at 2.72 months.

Sales and Listings Activity

• Total Sales: 18 (-59% Y/Y)

• New Listings: 37 (-18% Y/Y)

• Sales-to-New Listings Ratio: 49% (indicating a more balanced market)

• Inventory: 49 (+88% Y/Y)

• Months of Supply: 2.72 (+361% Y/Y)

Pricing Trends Despite the drop in sales, benchmark prices showed stability and moderate growth across different property types:

• Detached Homes: $817,900 (+3.3% Y/Y)

• Semi-Detached Homes: $532,200 (+5.1% Y/Y)

• Row Homes: $457,300 (+6.2% Y/Y)

• Apartments: $370,300 (+1.5% Y/Y)

• Total Residential Benchmark Price: $632,200 (+1.8% Y/Y)

Market Insights

• The increase in inventory and drop in sales suggest a shift towards a more buyer-friendly market, with more choices available and reduced competition.

• While detached homes remain the most expensive segment, row homes saw the highest price appreciation at 6.2% Y/Y.

• Apartments had the slowest price growth, with only a 1.5% Y/Y increase, possibly due to higher inventory levels in this segment.

• The median price for all residential property types was $444,250, a 4.9% decline Y/Y, reflecting buyer hesitation in higher price ranges.

Auburn Bay’s market in February 2025 is experiencing a period of adjustment, with increasing supply and slower sales activity. Prices remain relatively stable, but with rising inventory levels, buyers may have more negotiating power in the coming months. Sellers should be mindful of competitive pricing strategies to attract interest in a market that is cooling compared to the previous year.

For more information on how these trends affect your buying or selling decisions, reach us here.

The Mahogany real estate market experienced shifts in February 2025, with a mix of price increases and a decline in sales compared to the previous year. Despite a slowdown in transactions, inventory levels increased, providing more choices for buyers.

• Total Residential Benchmark Price: $589,100 (↑1.5% YoY)

• Total Sales: 26 (↓45% YoY)

• New Listings: 51 (↓9% YoY)

• Inventory: 93 homes (↑66% YoY)

• Months of Supply: 3.58 (↑200% YoY)

Property Type Breakdown

• Detached Homes

  • Benchmark Price: $822,400 (↑2.3% YoY)

  • Sales: 16 (↓27% YoY)

  • New Listings: 27 (↑4% YoY)

  • Inventory: 38 homes (↑67% YoY)

• Semi-Detached Homes

  • Benchmark Price: $579,600 (↑2.3% YoY)

  • Sales: 2 (↓78% YoY)

  • New Listings: 8 (No change YoY)

  • Inventory: 10 homes (↑89% YoY)

• Row Homes

  • Benchmark Price: $487,500 (↑1.5% YoY)

  • Sales: 1 (↓80% YoY)

  • New Listings: 4 (↓50% YoY)

  • Inventory: 17 homes

• Apartments

  • Benchmark Price: $362,200 (↑3.6% YoY)

  • Sales: 7 (↓36% YoY)

  • New Listings: 12 (↓14% YoY)

  • Inventory: 28 units (↑58% YoY)

Market Trends & Insights

• Sales Decline: The 45% drop in total sales compared to February 2024 suggests a cooling in demand, possibly due to affordability concerns and higher mortgage rates.

• Rising Inventory: A 66% increase in available homes indicates a shift toward a buyer’s market, providing more options and reducing competition.

• Months of Supply Surge: The months of supply jumped by 200%, signaling a slower market where properties are taking longer to sell.

• Stable Prices: Despite the sales decline, benchmark prices remained relatively stable or saw modest growth, reflecting continued demand for well-priced homes.

Looking Ahead

With inventory on the rise and fewer sales, Mahogany’s real estate market may favor buyers in the coming months. Sellers should price competitively to attract interest, while buyers can take advantage of increased selection and negotiation opportunities.

For further insights, contact us for Mahogany real estate update.

其中，东区房价涨幅最高，而市中心价格小幅下降。

卡尔加里周边城镇

Airdrie

Airdrie整体市场在2月份的大致走势与其长期平均水平相符，销售量下降，而新挂牌和库存水平上升至该月份的典型水平。销售量下降了近9%，至123套，而新挂牌数量增长了近23%，达到225套。销售下降与新挂牌增加的叠加效应，使库存量比去年翻了一倍多，增至345套。因此，供应月份上升至近三个月，这一水平也符合长期平均值，并且是自疫情前以来市场上见到的最高水平。2月份的市场基准价格与上月基本持平，仍低于秋季时的水平，为$537,600，但比去年同期高出1.6%。

Cochrane

2月份的销售量达到75套，新挂牌数量达到126套，均较去年同期有所增加，并高于该市场的长期平均水平。库存同比增长超过48%，达到196套，为自2021年春季以来任何月份的最高水平，但仍低于Cochrane市场2月份的长期平均水平。库存的增加使供应月份回升至2.6个月，这是自疫情以来的最高水平，但仍远低于该月份的历史水平。相对紧张的市场环境支持了价格接近夏季创下的历史高位，2月份的市场基准价格同比上涨超过5%，达到$577,100。

Okotoks

2月份的销售量同比下降4%，至45套，但仍符合该月份的长期平均水平。新挂牌数量较2024年增长7%，达到60套，但仍远低于2月份的典型水平。库存回升至69套，比2024年增长19%，但与新挂牌一样，仍明显低于该月份的历史水平。较低的库存水平也使供应月份维持在仅1.5个月，远低于2月份通常的水平。尽管市场条件紧张，但本月的市场基准价格与1月份基本持平，仅比2024年高出不到1%。

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