Hey everyone,
We’re a month into 2025, and the Calgary real estate market is already off to an interesting start. If you’ve been following along, you’ll know that I waited a few extra days to release this update because I wanted to see how things were going to play out with the tariffs—one of the biggest economic questions on everyone’s mind. The good news? They’ve been delayed for at least a month, and I’m hopeful that they won’t happen at all.
Now that we have a clearer picture, let’s dive into what’s happening in Calgary’s housing market, what trends we’re seeing, and what you need to know if you’re thinking about buying, selling, or investing in 2025.
Calgary’s Housing Market: Strong Sales & High Demand
If you’ve been following the market over the past few years, you’ll know Calgary has been on an unprecedented growth trajectory. Since 2021, we’ve seen record-breaking sales numbers, and the trend isn’t slowing down.
According to the latest Calgary Real Estate Board (CREB) forecast, the housing market is expected to stay strong in 2025, with sales projected to be 20% above the long-term average. To put that into perspective, the last time we saw sales this high was back in 2006, and we didn’t hit those numbers again until 2021.
More Listings Are Hitting the Market (Finally!)
One of the biggest challenges over the past few years has been low inventory. Buyers have had to compete for homes, leading to bidding wars and fast-moving sales. The good news? That’s starting to shift.
- New listings are up 35% year-over-year, meaning more homes are available.
- The total number of homes on the market is now approaching 4,000, getting us closer to what’s considered a balanced market.
- Months of supply is increasing, currently sitting at 2.51 months—a big jump from the 1.35 months we saw in 2023.
This is fantastic news for buyers who have been struggling with limited options. If you’re planning to buy in Calgary, you’ll have more choices, and in some cases, more time to make a decision.
What’s Happening with Calgary Home Prices?
Now, the big question everyone is asking: Are home prices going up or down?
Right now, we’re in a steady and sustainable market. The benchmark price in Calgary sits at $583,000, up 2.79% year-over-year. While that’s a much slower rate of growth compared to the double-digit increases we saw in 2021 and 2022, it’s a healthier pace that ensures long-term market stability.
- Detached homes are still the most in-demand property type.
- The Northeast and Southeast are seeing the biggest price jumps, with increases of 10-12% or more in some areas.
- More new construction is hitting the market, which will help ease price pressures in the resale market.
Overall, this means that while prices are still increasing, the rate of growth is more predictable, making it a great time to buy or sell without feeling rushed.
Economic Factors Impacting Calgary’s Market
1. Interest Rates Are Easing
We’ve already seen the Bank of Canada lower interest rates, and there’s talk of more rate cuts coming this year. That’s a huge win for buyers looking to enter the market or homeowners considering refinancing.
2. Alberta’s Economy is Outpacing the Rest of Canada
If you’ve been paying attention to Canada’s economy, you know that Alberta is leading the way.
- GDP growth is projected at 2.5% for 2025—stronger than most other provinces.
- Employment levels are rising, especially in construction, retail, healthcare, and education.
- Oil prices remain stable, sitting in the $70-$77 range, keeping Alberta’s economy strong.
3. Migration Continues to Drive Housing Demand
People are still moving to Calgary in record numbers. While net migration is expected to slow slightly from the 5.6% growth we saw last year, we’re still looking at a healthy 3.1% population increase in 2025.
And let’s not forget—it’s not just new people moving here. There’s a huge wave of first-time buyers in their late 20s and early 30s looking to get into the market, further driving demand.
A Balanced Market is a Healthy Market
One of the biggest takeaways from this month’s update is that we’re heading toward a more balanced market.
- Sellers still have the advantage, but buyers have more choices.
- Bidding wars are less frequent, and negotiations are becoming more common.
- A steady increase in inventory means a more sustainable market for the long term.
If you’ve been sitting on the sidelines waiting for the market to slow down, this is the moment you’ve been waiting for.
Thinking of Selling? Our Guaranteed Sold Program Has You Covered!
Selling a home can be stressful, especially if you’re worried about timing the market or getting stuck with two mortgages. That’s why we offer our Guaranteed Sold Program—to take the uncertainty out of selling.
✔ We agree on a fair price for your home.
✔ If it doesn’t sell, we buy it from you.
✔ You can move forward with confidence, knowing your home is SOLD.
If you’re even thinking about selling this year, let’s chat. I can give you a free home evaluation and help you navigate the market with confidence.
Final Thoughts: Is Now the Right Time to Buy or Sell?
The short answer? Yes.
With more listings hitting the market, buyers have better choices. Prices are holding steady, and interest rates are favorable. If you’ve been waiting for the right time to make your move, this could be your best opportunity.
📩 Let’s talk about your next move!
📞 Call/Text: (587) 847-0449
📩 Email: [email protected]
🌐 Website: robvanoteam.ca
Whether you’re buying, selling, or just want to chat about the market, I’m here to help. Looking forward to connecting soon!
– Rob Vanovermeire