MARKET UPDATE FOR CALGARY REAL ESTATE IN April 2025
This month’s analysis focuses on the statistics.
The 5-second report shows generally balanced conditions based on the new listings-to-sales ratio and absorption rate, but stopping there would draw too simplistic a conclusion.
Looking deeper into the 5-minute report, you will see a sea of purple for freehold properties. Aside from some softness around the $1M mark, technical seller’s market conditions continue to exist at virtually every price point from $200K to $2M+. Confidence has spread into the upper end of the market, suggesting well-informed buyers are still actively purchasing higher-end homes. Case in point: I helped clients win in multiples this past weekend in this price range against three competing buyers.
The biggest driver is that the rate of new listings remains elevated compared to last year, but demand has not fallen nearly as much. Our experience with active buyers is that there is still meaningful pent-up demand for quality detached homes.
Conversely, properties with condo fees are facing much more competition. In many segments, there are roughly 2-5 active listings for every property selling each month. Apartments remain under the most pressure, particularly in outlying areas. Prices continue to soften, although the pace of decline appears to be moderating compared to earlier expectations for next year.
As with the freehold market, the supply side is playing a major role. New listings are also slowing in many condo segments, likely because some sellers are choosing to hold properties longer-term rather than sell into weaker conditions. Townhomes continue to sit between apartments and detached homes, with performance remaining highly location dependent. In suburban areas, values tend to track apartment pricing more closely, while inner-city townhomes behave more like detached product.
What’s next? We expect the spring market to remain active for detached and semi-detached homes, with price growth likely starting in select pockets before spreading more broadly. Apartments likely continue adjusting downward until affordability and investor demand begin to rebalance supply.
As long as there are no external shocks, the real estate market is often more predictable than headlines suggest.