The Calgary Real Estate Board (CREB) reported 2,159 sales in March, down from the same month last year, with declines seen across all property types. Apartment and row homes were hardest hit, following a surge in activity last year.
“It’s not a surprise to see a pullback in sales given the uncertainty,” said Ann-Marie Lurie, CREB’s chief economist. “However, it is important to note that sales still remain stronger than anything reported throughout 2015 to 2020, where our economy faced significant economic challenges and job loss.”
At the same time, listings surged. New listings rose 26.7% year-over-year to 4,019, pushing total inventory to 5,154 homes—more than double what was available a year ago. That’s helped ease some of the pressure in a market that had heavily favoured sellers over the past four years.
Prices hold steady as balance returns
With more homes on the market, prices are beginning to level off. The benchmark price across all home types rose slightly to $592,500—up just 0.1% from a year earlier.
Detached homes saw a 10% drop in sales, but continued tight supply for properties under $700,000 helped push the benchmark price up to $769,800, about 4% higher than last year.
Condo sales posted the biggest decline, following record highs in 2024. Inventory rose sharply, and while prices remain about 3% above last year, they’re still below peak levels seen last summer.
“Easing demand has been met with gains in new listings and rising inventories, helping our market shift back toward balanced conditions, following four consecutive years where the market favoured the seller,” Lurie said.
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Last modified: April 1, 2025