.jpg)
Calgary’s real estate market is shifting, and with change comes opportunity. After years of intense competition and soaring prices, we’re seeing a market that’s adjusting—but not slowing down. For buyers, this means more choices and negotiating power. For investors, it’s time to be strategic as the rental market recalibrates. And for sellers, positioning your home correctly is more important than ever. So, where’s the smart money going in 2025? Here are four key opportunities I see in Calgary’s real estate market right now.
1.Why January 2025’s Market Update Reveals a Prime Opportunity for Calgary Home Buyers
Calgary’s real estate market is shifting, and the latest January 2025 CREB real estate numbers tell the story. We’re seeing a market that’s adjusting but not stalling—buyers have more options, sellers need to be strategic, and despite rising inventory, home values are holding strong.
Key Calgary Real Estate Market Trends (January 2025)
Sales Activity Decline:
- Total sales in January: 1,451 (⬇️ 12% Y/Y)
- volume: $877.9 million (⬇️ 6.5% Y/Y)
The decline in sales was observed across most property types, with detached homes and apartments seeing the biggest slowdown.
Supply & Inventory:
- New listings: 2,896 (⬆️ 35.5% Y/Y)
- Inventory: 3,639 active listings (⬆️ 68.6% Y/Y)
- Months of Supply: 2.51 months (⬆️ 91.6% Y/Y)
This increase in supply suggests that buyers now have more choices, potentially easing competitive pressures seen in previous months.
Price Trends:
- Benchmark Price: $583,000 (⬆️ 2.79% Y/Y)
- Average Price: $605,026 (⬆️ 6.26% Y/Y)
Home prices are still trending upwards despite rising inventory, indicating that demand remains relatively strong.
Market Conditions:
- Sales-to-New Listings Ratio: 50.1% (⬇️ from 77.2% last year)
This drop suggests a more balanced market, shifting away from the intense seller's market of previous months. - Sales-to-List Price Ratio: 98.55% (⬇️ 1.3% Y/Y)
This indicates that homes are selling slightly below asking prices, reflecting reduced competition. - Days on Market: 41 days (⬆️ 21.6% Y/Y)
Homes are taking longer to sell compared to January 2024, aligning with the increased supply levels.
Regional Market Insights
- Fastest Price Growth: West and South Calgary saw the highest benchmark price increases.
- Slowest Price Growth: City Centre and North East experienced more moderate price increases.
Why This Matters for Buyers Purchasing in Calgary
✅ More listings = more options
✅ Less urgency = better negotiation power
✅ Homes sitting longer = potential for price reductions
How to Take Advantage
✔️ Look for motivated sellers. Homes that have been listed for a while may have sellers more willing to negotiate on price.
✔️ Move-up buyers can benefit. If you're selling and buying at the same time, you may sell for slightly less—but the better deal on your next home more than offsets that.
2. Calgary’s Apartment Condo Market Gives More Choices for Buyers
With detached home prices at record highs, more buyers are turning to apartment condos as an affordable alternative. Calgary’s condo market is shifting, with rising inventory giving buyers more options and better negotiating power.
Key Apartment Condo Market Trends (January 2025)
✔️ More Listings, More Choices – New condo listings hit a January record of 922 units, increasing total inventory to 1,295 units. Buyers now have more options and less competition.
✔️ Supply is Up – Months of supply rose to 3.5 months, higher than recent years but still far from pre-pandemic levels. This means buyers can take their time and negotiate better deals.
✔️ Stable Prices – The benchmark condo price in January was $331,400, slightly lower than last month but still 5% higher than a year ago.
✔️ Market Adjustments Vary by Area – The biggest price declines happened in North, West, and South Calgary, creating opportunities for buyers and investors to find undervalued properties.
Why Apartment Condos Are a Smart Choice for Buyers & Investors
✅ More Inventory = More Choice
- Higher supply gives buyers more options and room to negotiate better deals.
- Unlike the detached market, buyers face less urgency and can evaluate properties strategically.
✅ Affordability & Accessibility
- Condos remain significantly cheaper than detached homes, making them an attractive option for first-time buyers and investors.
- The market correction in some areas provides better entry points for long-term appreciation.
✅ Growing Rental Demand
- Calgary remains one of Canada’s most affordable major cities, keeping rental demand high.
- Investors can take advantage of the market shift by locking in lower purchase prices while benefiting from a strong rental pool.
✅ Prime Locations & Low-Maintenance Living
- Condos in downtown, Beltline, and University District continue to attract buyers and renters.
- Many condo buildings feature amenities like gyms, concierge services, and underground parking, making them appealing for professionals and downsizers.
How to Take Advantage
✔️ For Buyers: If you're looking for an affordable home with minimal upkeep, now is the time to explore condo opportunities. With more listings and stable prices, you have greater flexibility in your search.
✔️ For Investors: With increasing supply and strategic price adjustments, Calgary’s condo market presents a strong entry point for long-term rental income and appreciation. Focus on well-located buildings in high-demand areas.
3. Calgary's Luxury Market Remains Steady
While some segments of Calgary’s real estate market are experiencing cooling, the luxury home market ($1M+) remains strong. Unlike homes under $700,000, which are more sensitive to interest rate fluctuations, high-net-worth buyers continue to actively purchase in upscale neighborhoods.
Despite external economic factors, demand remains robust in West Calgary and the North West, where appreciation continues. This is largely because luxury buyers are less impacted by interest rates, keeping this segment stable and competitive.
Why Demand is Holding Strong for Luxury Homes?
✅ Luxury Buyers Are Less Rate-Sensitive
- Many high-net-worth buyers purchase in cash or use minimal financing, making them less affected by rising interest rates.
✅ Prestigious Communities Still Command Top Dollar
- Aspen Woods, Elbow Park, Britannia, and Springbank Hill remain in high demand, with limited inventory driving prices up.
✅ Luxury Homes Are a Lifestyle Choice
- High-end buyers aren’t just looking for a house—they want bespoke designs, high-end finishes, smart home tech, and premium locations.
✅ Limited Inventory Fuels Competition
- New construction of luxury homes remains below demand, keeping prices firm in the $1M+ market.
Key Calgary Luxury Home Statistics (January 2025)
Days on Market (DOM) for $1M+ Homes January 2025:
- 2024: 45 days
- 2025: 41 days (Homes are selling faster in 2025)
Average Price of $1M+ Homes:
- 2024: $1,431,181
- 2025: $1,405,324 (Slight decrease, indicating stable pricing)
How Can You Leverage This Luxury Market?
✔️ Sellers: Maximize value by investing in premium marketing, professional staging, and high-quality photography—buyers expect top-tier presentation.
✔️ Buyers: Think long-term—properties in elite communities (Elbow Park, Britannia, Aspen Woods, Mahogany) continue appreciating. Look for undervalued opportunities.
✔️ Developers & Investors: Luxury new builds remain a solid bet, as demand outpaces supply in prime areas. Custom homes and high-end townhomes will remain attractive.
4. Rental Market Opportunity – What This Means for Calgary Investors
Calgary’s rental market is experiencing its first price decline in a few years, creating new opportunities for investors. While short-term adjustments are happening, Calgary remains one of Canada’s most attractive cities for real estate investment due to its strong economic fundamentals, affordability, and steady population growth. With rental demand expected to remain high, investors can capitalize on this temporary market shift to secure properties in high-demand areas.
Rental Prices in Calgary vs. in Toronto & Vancouver
✅ Vancouver: $2,700/month (One-bedroom rent)
✅ Toronto: $2,500/month (One-bedroom rent)
✅ Calgary: $1,567/month (One-bedroom rent) → Much more affordable for both tenants and investors
Calgary Remains Far More Affordable
- Average Post-Tax Household Income: $112,000
- Income Required to Afford a Two-Bedroom Apartment (at 30% of income): $77,320
- Calgary renters have a 45% surplus in income, whereas in Toronto and Vancouver, many renters spend over 50% of their earnings on rent.
Calgary’s Vacancy Rate is Still Favorable for Investors
- While Calgary’s vacancy rate has increased slightly, it remains much lower than historical levels and far better positioned than Toronto and Vancouver.
- Toronto & Vancouver vacancy rates: Below 1% → Extremely tight rental markets, making it difficult for renters to find housing.
- Calgary’s market adjustment allows investors to buy at lower prices while still benefiting from strong demand.
Calgary's 2-Bedroom Rent Compared to Other Canadian Cities
Zoocasa used data from the January 2025 Rentals.ca report to calculate the annual post-tax income required to afford a two-bedroom apartment, assuming 30% of income is allocated to housing costs.
Why This Matters for Investors
✅ The market is rebalancing after rapid rent increases in recent years. Calgary’s rental market remains stable, with demand fundamentals still strong. Investors have an opportunity to buy in at a lower cost before the market stabilizes again.
✅ With new purpose-built rental developments and condo listings hitting the market, tenants have more choices. Investors who buy now can negotiate better purchase prices and position themselves for long-term appreciation.
✅ Despite an overall rental market adjustment, key investment areas continue to attract steady tenant interest:
- City Centre: Close to business hubs and downtown amenities
- South Calgary: Family-friendly neighborhoods with growing demand
- North West Calgary: Proximity to universities, transit, and employment hubs
The Bottom Line: Opportunity is Here—Are You Ready?
Calgary’s real estate market is shifting, but that’s not a signal to wait—it’s a signal to act strategically. Buyers now have more options and negotiating power. Investors can capitalize on temporary rental adjustments before prices rise again. And sellers? Positioning and marketing your home correctly has never been more critical.
The question is: How can you make the most of these opportunities?
With over 800 successful real estate transactions, the Marnie Campbell Real Estate Team has the experience and proven strategy to help you buy, sell, or invest with confidence.
Schedule a no-obligation consultation today and let’s talk about your next move in Calgary real estate.
The Marnie Campbell Real Estate Team can help you make better real estate decisions, so you have no regrets buying a home.
Schedule A Call
This report is based on data from the Calgary Real Estate Board (CREB®) and other market research sources. While every effort has been made to ensure accuracy, the information provided is subject to change and should not be considered financial or real estate advice. Always consult with a licensed real estate professional before making any buying, selling, or investment decisions.
Leave A Comment