Calgary Real Estate Market Update – May 2025: Correction, Cooldown, or Opportunity?
Is Calgary’s real estate market truly slowing — or just finally catching its breath? In this May 2025 market update, I’ll show you what’s really happening with prices, inventory, and competition so you can confidently plan your next move — whether you're buying, selling, or just watching. Let’s walk through the numbers together.
May 2025 Calgary Real Estate Market Snapshot
- Sales: 2,568 homes (⬇️ 11% MoM)
- New Listings: 4,270 (⬆️ 6.7% MoM)
- Inventory: 6,740 (⬆️ 16.5% from April)
- Benchmark Price (All Property Types): $603,300 (⬆️ 0.3% MoM | ⬆️ 8.5% YoY)
- Months of Supply: 2.6 (⬆️ from 2.0 in April)
Source: Calgary Real Estate Board (CREB®), May 2025
Missed last month’s update? Read the April 2025 Calgary Real Estate Market Update to see how trends have shifted.
What Is Months of Supply and Why Does It Matter?
Months of supply tells us how long it would take to sell all current homes on the market at the current pace, assuming no new listings. It’s a key indicator of market balance:
- Less than 2 months: Seller’s market
- 3–4 months: Balanced market
- 4+ months: Buyer’s market
At 2.6 months in May, 2025, Calgary is moving toward balance — giving buyers more leverage and sellers more competition.
May 2025 Calgary Home Prices by Property Type
| Property Type | Benchmark Price | MoM Change |
|---|---|---|
| Detached | $769,400 | Flat |
| Semi-Detached | $697,300 | ⬆️ 0.4% |
| Row Homes | $453,600 | ⬇️ 0.7% |
| Apartments | $335,300 | ⬇️ 0.6% |
Year-over-Year Calgary Home Prices – May 2025 vs. May 2024
Benchmark prices are up across all property types in Calgary, showing strong year-over-year growth despite the month-to-month moderation. This growth reflects long-term confidence in the Calgary housing market, especially in more affordable segments like apartment and row housing.
| Property Type | May 2024 Benchmark | May 2025 Benchmark | YoY Change (%) |
|---|---|---|---|
| Detached | $761,800 | $769,400 | ⬆️1.0% |
| Semi-Detached | $678,000 | $697,300 | ⬆️2.8% |
| Row Homes | $462,500 | $453,600 | ⬇️1.9% |
| Apartments | $340,500 | $335,300 | ⬇️1.5% |
Calgary Benchmark Prices by District – May 2025
Market performance varies by district, but all regions saw price moderation in May. While the North West and City Centre remain popular with upsizers and relocation buyers, benchmark prices dipped across the board. More affordable areas like the East and North East now offer even better value and less competition—creating opportunities for budget-conscious buyers.
| District | Benchmark Price | YoY Change (%) |
|---|---|---|
| City Centre | $596,500 | ⬇️3.2% |
| North West | $650,400 | ⬇️2.2% |
| South | $586,000 | ⬇️1.7% |
| South East | $579,800 | ⬇️2.4% |
| North East | $500,300 | ⬇️2.2% |
| East | $427,200 | ⬇️3.3% |
Market Insights for Calgary Home Buyers
Buyers are gaining ground in May:
- Inventory is up — over 950 more homes than April
- Bidding wars are less common, especially for condos and townhomes
- More time to make decisions — but move fast on well-priced detached homes
Tip: Buyers still need to be pre-approved and prepared — desirable homes under $700K are still moving quickly.
Strategy Tips for Calgary Home Sellers
With more listings on the market, buyers are becoming more selective:
- Pricing needs to reflect current conditions
- Professional staging and presentation give you a competitive edge
- Homes in top condition still sell fast — especially in the NW, West, and South
Good news: The right strategy still gets results. Well-prepared homes continue to attract serious buyers.
FAQs: Calgary Real Estate Market – May 2025
No. The market is correcting, not crashing. Activity is moderating, but prices are holding steady and inventory is growing — giving more balance to buyers and sellers. It means the market is shifting away from a seller’s market toward balance. Buyers have more choices, and sellers need to be more strategic with pricing and marketing. Not significantly. As of May 2025, detached homes stayed flat, while some segments like condos and townhomes softened slightly. Most prices are stable year-over-year. If you find the right home, now may be the best time. You have more leverage than earlier this year, and interest rates remain relatively steady. As of May 2025, the benchmark price for a home in Calgary is $603,500, up 8.5% year-over-year. While monthly price changes have stabilized, this number reflects long-term market strength. Detached homes average $769,400, while apartments sit at $335,300 — giving buyers a range of price points to consider.Is Calgary’s housing market crashing?
What does 2.6 months of supply mean for me?
Are home prices in Calgary dropping?
Should I buy now or wait?
What’s the average home price in Calgary?
Conclusion: What You Should Do Next
Whether you’re planning to buy or sell, May 2025 marks a shift in Calgary’s real estate market. Buyers finally have more room to breathe, and sellers need to adapt to rising inventory and changing buyer expectations.
Marnie is a trusted Calgary REALTOR® with 18+ years of experience, over 800 real estate transactions, and 150+ five-star reviews. She leads a team dedicated to helping clients make confident, no-regret real estate decisions.
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Disclaimer: This blog post is based on Calgary Real Estate Board (CREB®) data and current market analysis. This is not financial advice. Please consult a licensed real estate professional before making any decisions.
Posted by Marnie Campbell on
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