Calgary homes for sale

The Calgary real estate market in the early part of 2025 shows a mixed image of adjustment and resilience. Reports indicate that sales, year-over-year, have fallen, but they are still above the longer-term historical averages of February and March. Inventory levels, however, increased substantially compared to last year, which provides more choice to buyers. This increase in the supply of available properties, though, did not sharply hit benchmark values, which exhibit modest year-over-year appreciation in general, though some areas saw more rapid growth compared to others. The Calgary total residential benchmark price in February of 2025 hovered at approximately $587,600 and had increased slightly by March of that year to approximately $592,500.

Segments of the market are experiencing diverse trends. The average selling price of the detached home sector in February of this year was around $680,900, a year-over-year rise. Townhouses and multiplexes averaged a selling price of around $455,200, also a year-over-year rise. Condominiums averaged a selling price of around $338,300, also a year-over-year increase. Of particular interest, the Calgary rental market experienced a rise in vacancy rate due to a big influx of purpose-built rentals, one that will persist through 2025 and possibly cause rent growth to slow. February average rent was at around $1,925, a year-over-year decline. This indicates a dynamic where the sales market is stabilizing in pricing despite greater supply, while the rent market is becoming increasingly competitive for tenants due to growing supply. Calgary is a city of a young and rapidly growing population. According to the 2021 Census, Calgary had a population of around 1.31 million, and it is the largest city in Alberta and the third-largest in Canada. Around 1.48 million people inhabit the Calgary Metropolitan Area. Calgary's population has grown steadily, at a rate of more than 1% per year in the last few years, due mainly to international migration. Calgary is multicultural in character, with more than 25% of the population being in a visible minority group, and in the top Canadian cities in diversity, and the chief ethnic groups being South Asians, Chinese, and Filipinos.

The population of Calgary has a relatively young demographic, and the median is approximately 38 years of age, younger compared to some of the larger Canadian cities. It also boasts a high percent of residents who were born outside of Canada, helping to create its diverse cultural landscape. Religiously, the majority of the population is Christian, followed by a large percent of no religious affiliation, and smaller percentages of Islam, Sikh, Buddhist, Hindu, and Jewish identification. English is the primary spoken language, and a high percent of the population also uses languages other than English and French. Calgary is also famous for its volunteerism and sense of community.