Condos down almost 6% on the year with nearly four and a half months of supply — the best value in Calgary, if you can finance it.
In August 2025, Calgary’s benchmark home price was $576,000 — down 0.9% from July and 4% below August 2024. Sales fell 9% year-over-year to 1,986 while inventory of 6,659 homes stood 48.3% above last August. Supply reached 3.4 months and a typical home took 38 days to sell. Apartment condos fell 5.8% year-over-year to $321,700, with 4.4 months of supply and 47 days on market — the softest segment in the city.
August 2025 at a glance
Calgary’s apartment condo benchmark was $321,700 in August 2025, down 5.8% year-over-year and $19,700 below the August 2024 peak of $341,400. With 4.4 months of supply and 47 days on market, condos had become the clearest buying opportunity in the city. The overall benchmark eased 0.9% to $576,000, down 4% on the year, as inventory of 6,659 homes sat 48.3% above last August and supply reached 3.4 months.
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 August) | $576,000 | ▼ -1% |
Sales, listings and inventory
| Month | Sales | New listings | Inventory | Days on market | Benchmark |
|---|---|---|---|---|---|
| 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 |
| August 2025 | 1,986 | 3,477 | 6,659 | 38 | $576,000 |
The headline numbers
| Metric | August 2025 | vs prev month | vs last year |
|---|---|---|---|
| Benchmark price | $576,000 | ▼ -0.9% | ▼ -4% |
| Sales | 1,986 | ▼ -5.2% | ▼ -9% |
| New listings | 3,477 | ▼ -11.1% | ▼ -1.7% |
| Inventory | 6,659 | ▼ -3.8% | ▲ +48.3% |
| Days on market | 38 | ▲ +1 day | ▲ +11 days |
A look by property type
| Property type | Benchmark | vs last year | Sales | Days on mkt | Months of supply |
|---|---|---|---|---|---|
| Detached | $752,500 | ▼ -1.1% | 992 | 35 | 3.1 |
| Semi-detached | $683,800 | ▲ +0.4% | 206 | 35 | 2.6 |
| Row / townhouse | $439,100 | ▼ -4.5% | 339 | 40 | 3.2 |
| Apartment condo | $321,700 | ▼ -5.8% | 449 | 47 | 4.4 |
The condo round trip
Calgary apartment condos were $245,200 in January 2021, peaked at $341,400 in August 2024, and were $321,700 in August 2025. The full cycle: up 39%, then down 5.8%.
Anyone who bought a Calgary condo in 2021 was still comfortably ahead. Anyone who bought at the 2024 peak was underwater on paper. That’s a useful reminder that the segment leading a market is rarely the one to chase — it’s usually the one that has most recently run.
Why condos softened most
Their strength from 2022 to 2024 came from buyers pushed down the price ladder by high rates, not from people who particularly wanted a condo. As rates eased and supply rebuilt, that borrowed demand went back up the ladder.
Calgary had also completed a substantial amount of new apartment construction, much of it arriving in 2024 and 2025. New supply meeting departing demand is why the condo segment carried 4.4 months of supply while detached sat at 3.1.
A note on financing condos in a soft market
Lower prices make condos attractive, but the financing is more involved than for a house. Lenders assess the building alongside the borrower: the reserve fund study, any pending special assessments, the proportion of units rented out, and any ongoing litigation can all affect whether a specific unit is financeable and on what terms.
In a market with 4.4 months of supply you have time to get those documents reviewed properly before removing conditions. That’s a genuine advantage of a soft market and it’s worth using.
What this meant if you were buying
For a first-time buyer or an investor, August 2025 was the best entry point into Calgary’s condo market since 2020 — lower prices, real choice, and sellers willing to negotiate.
The caveat is that a falling market can keep falling, and condos had 4.4 months of supply against detached at 3.1. If you were buying to live in for several years, the price you paid mattered less than whether it suited you. If you were buying as a short-term investment, the supply figures argued for patience.
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Source: CREB, August 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.
