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.
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