Inventory two-thirds higher than last July, detached homes down year-over-year for the first time since 2023, and buyers with five weeks to decide.
In July 2025, Calgary’s benchmark home price was $581,100 — down 0.6% from June and 3.9% below July 2024. Sales fell 11.7% year-over-year to 2,096 while inventory stood at 6,919 homes, 66.4% above last July. Supply reached 3.3 months and a typical home took 37 days to sell, thirteen days longer than a year earlier. Detached homes turned negative at $758,100, down 1% year-over-year; apartment condos fell 4.8% to $324,800 with 4.1 months of supply.
July 2025 at a glance
Calgary had 6,919 homes for sale in July 2025 — 66.4% more than a year earlier, and roughly two and a half times the 2,716 available at the April 2024 low. Supply reached 3.3 months and homes took 37 days to sell. The benchmark eased 0.6% to $581,100, down 3.9% year-over-year, and detached homes turned negative for the first time since 2023. Every part of Calgary’s market was now softening at once.
Calgary prices over time
| Year | Benchmark price | Change on the year |
|---|---|---|
| 2014 | $459,500 | — |
| 2015 | $448,800 | ▼ -2.3% |
| 2016 | $434,100 | ▼ -3.3% |
| 2017 | $433,200 | ▼ -0.2% |
| 2018 | $424,600 | ▼ -2% |
| 2019 | $415,900 | ▼ -2% |
| 2020 | $421,300 | ▲ +1.3% |
| 2021 | $463,900 | ▲ +10.1% |
| 2022 | $518,800 | ▲ +11.8% |
| 2023 | $565,200 | ▲ +8.9% |
| 2024 | $582,100 | ▲ +3% |
| 2025 (to July) | $581,100 | ▼ -0.2% |
Sales, listings and inventory
| Month | Sales | New listings | Inventory | Days on market | Benchmark |
|---|---|---|---|---|---|
| August 2024 | 2,182 | 3,536 | 4,490 | 27 | $600,100 |
| September 2024 | 2,000 | 3,687 | 5,064 | 28 | $595,400 |
| October 2024 | 2,167 | 3,263 | 4,967 | 32 | $590,900 |
| November 2024 | 1,793 | 2,327 | 4,354 | 37 | $586,400 |
| December 2024 | 1,318 | 1,238 | 2,994 | 44 | $582,100 |
| January 2025 | 1,449 | 2,896 | 3,640 | 41 | $581,800 |
| February 2025 | 1,718 | 2,830 | 4,147 | 33 | $586,300 |
| March 2025 | 2,156 | 4,018 | 5,153 | 29 | $590,300 |
| April 2025 | 2,230 | 4,037 | 5,868 | 29 | $589,200 |
| May 2025 | 2,559 | 4,840 | 6,744 | 32 | $588,300 |
| June 2025 | 2,284 | 4,223 | 6,944 | 33 | $584,600 |
| July 2025 | 2,096 | 3,911 | 6,919 | 37 | $581,100 |
The headline numbers
| Metric | July 2025 | vs prev month | vs last year |
|---|---|---|---|
| Benchmark price | $581,100 | ▼ -0.6% | ▼ -3.9% |
| Sales | 2,096 | ▼ -8.2% | ▼ -11.7% |
| New listings | 3,911 | ▼ -7.4% | ▲ +8.5% |
| Inventory | 6,919 | ▼ -0.4% | ▲ +66.4% |
| Days on market | 37 | ▲ +4 days | ▲ +13 days |
A look by property type
| Property type | Benchmark | vs last year | Sales | Days on mkt | Months of supply |
|---|---|---|---|---|---|
| Detached | $758,100 | ▼ -1% | 1,029 | 34 | 3.0 |
| Semi-detached | $693,100 | ▲ +0.8% | 187 | 34 | 2.9 |
| Row / townhouse | $445,700 | ▼ -3.5% | 371 | 37 | 3.2 |
| Apartment condo | $324,800 | ▼ -4.8% | 509 | 45 | 4.1 |
Why the inventory build happened
Three things compounded. Owners who had been locked in by cheap pandemic-era mortgages had finally started listing, and once that began it accelerated. Calgary had also absorbed several years of strong homebuilding, with completions arriving into a market that no longer needed them urgently. And migration into Alberta, while still positive, had slowed from its 2023-24 peak.
More supply arriving as demand cooled is the classic recipe for a soft market. 6,919 listings against 2,096 sales is a very different city from the one that had 2,716 listings and 2,875 sales fifteen months earlier.
Detached homes joined the decline
Detached homes at $758,100 were down 1% year-over-year — the first annual decline in that segment since early 2023. Row homes were down 3.5% and apartment condos 4.8%.
Through the earlier part of the softening, detached housing had held its value while condos and townhouses gave ground. July was the month that protection ran out. With 3.0 months of supply in the detached segment, sellers there were now competing too.
Condos at 4.1 months and 45 days
Apartment condos had 4.1 months of supply, 45 days on market, and prices down 4.8% year-over-year to $324,800 — well below the August 2024 peak of $341,400.
That’s a properly balanced-to-buyer-friendly market. For anyone who had been priced out of Calgary condos during the 2022–2024 squeeze, the window had reopened, and this time with meaningful negotiating room rather than just availability.
What this meant if you were buying
Thirty-seven days on market with 3.3 months of supply is the most comfortable buying environment Calgary had offered in five years. Conditional offers, inspections, and price negotiation were all normal again.
The point worth making is that a soft market is when the quality of the purchase matters most. When everything sells in two weeks you buy what you can get; when there are nearly 7,000 listings you can afford to be genuinely particular about condition, location and layout — and to walk away from something that isn’t right.
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Source: CREB, July 2025 (City of Calgary geography). Prices shown are benchmark (HPI) values. Month-over-month compares to the prior month; year-over-year to the same month last year. The board may revise past months as late sales are recorded. Prepared by Mortgages for Less.
