April 2025 Calgary Real Estate Trends
Calgary Housing Market Update: April 2025
As spring unfolds, the Calgary housing market continues to shift and evolve. Here’s your in-depth look at how Calgary and surrounding communities like Airdrie, Cochrane, and Okotoks performed in March 2025.
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Calgary Housing Market Overview
Sales Activity
In March 2025, the Calgary housing market saw 2,158 home sales—a 19% decline compared to March 2024. While down from last year’s frenzied pace, activity remains stronger than pre-pandemic levels, highlighting steady demand. Detached homes made up the majority of sales, but row houses and apartment-style units also continued to appeal to buyers due to their affordability and lifestyle convenience
Inventory Levels
Over 4,000 new listings came to market in March, lowering the sales-to-new-listings ratio to 54%. This shift helped boost inventory to 5,154 residential units, pushing months of supply to 2.4. Though this represents a more balanced housing market in Calgary, options remain relatively limited across all price points and property types.
Benchmark Price
The unadjusted benchmark price for residential properties in Calgary reached $592,500 in March 2025. This figure has remained relatively stable year-over-year and month-over-month. Detached and semi-detached prices are still aligned with previous peak values, while apartment prices have yet to return to earlier highs.
Regional Market Insights
Airdrie:
Sales in Airdrie matched last year’s levels and remain above long-term trends. The sales-to-new-listings ratio held at 67%, allowing inventory growth to slow. March ended with 213 homes in inventory. Despite slower price growth, the detached benchmark price in Airdrie reached $686,800 in March—over 5% higher than last year and a new record high.
Cochrane:
Like Airdrie, Cochrane experienced sales and new listings similar to last year, with the sales-to-new-listings ratio also at 67%. Inventory levels rose but remained balanced. The detached benchmark price in Cochrane hit $686,800 in March—another all-time high and more than 5% above last year.
Okotoks:
Okotoks recorded 129 sales during the first quarter, down from 155 in the same period last year. Inventory remains very low, with only 96 active listings and 53 sales in March, resulting in less than two months of supply. This scarcity pushed the benchmark detached price to $715,500—an unadjusted record high and over 5% higher than last March.
Best Practices for Sellers
Navigating the Calgary Housing Market: Tips for Buyers and Sellers
For Buyers:
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- Act Quickly: While inventory is rising, the Calgary housing market remains competitive. Pre-approval and readiness are key.
- Be Open-Minded: Explore different property types and neighborhoods to find the right fit.
- Stay Informed: Work with a trusted REALTOR® who understands the local housing market in Calgary and can guide your decisions.
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- Take Advantage of Conditions: Seller-friendly segments like detached homes still dominate. Accurate pricing is crucial.
- Maximize Appeal: Staging, curb appeal, and minor improvements go a long way.
- Be Accessible: Quick responses and flexible showings improve your chances of a smooth sale.
Calgary Mortgage Rate Update
As of March 12, 2025, the Bank of Canada lowered its Overnight Lending Rate by 0.25% to 2.75%, marking the seventh consecutive rate cut since June 2024. Prime rates at major banks have dropped to 4.95%, with five-year fixed mortgage rates now around 4%. Variable rates are dipping below 4% for qualified buyers.
This is welcome news for the Calgary housing market—lower interest rates combined with growing inventory improve affordability and purchasing power for buyers. For current homeowners, it may be a good time to explore refinancing options to reduce monthly mortgage payments.
Concluding Insights
Final Thoughts on Calgary's Housing Market
The Calgary housing market in April 2025 is transitioning toward more balanced conditions. While buyer demand has softened slightly from last year’s highs, low inventory and stable pricing indicate continued resilience. Whether you’re buying, selling, or refinancing, staying informed and working with a knowledgeable local expert can help you navigate the path ahead. You can also see the full CREB report here.
Have questions about buying or selling this spring? Reach out anytime—we’re here to help you make confident real estate decisions.