Calgary market stabilizes, but condo sector is still shaky: CREB

Calgary’s housing market continued to shift in April, with easing sales and rising supply pushing overall conditions toward balance, though weakness in the condo segment is weighing on prices.

Sales totalled 2,104 units, down six per cent from April 2025.

“Sales were expected to ease this year as our market transitioned away from strong demand that was driven by previously rapid migration growth. Improved supply choice across the entire housing spectrum has reduced the urgency among potential purchasers, helping our market shift away from seller’s market conditions to more balanced conditions,” said Ann-Marie Lurie, CREB chief economist. “However, the trend of limited supply choice in the detached market continues, while conditions favour the buyer in the apartment condominium market.”

New listings climbed to 3,829 units in April, lifting inventory to 5,973 units, up nearly two per cent from a year ago. Months of supply stayed just under three overall.

Condo prices slide as supply builds

The unadjusted benchmark price for all residential properties rose to $568,800 in April, up slightly from March due to spring market activity. 

Still, prices were three per cent lower than a year earlier. Detached and semi-detached homes saw modest annual declines, while apartment-style condo units dropped nearly nine per cent.

Detached benchmark prices reached $745,400, with tight supply helping slow year-over-year declines to under three per cent. Semi-detached homes rose to $690,000, with recent gains bringing prices close to last year’s levels.

In the apartment condominium segment, benchmark prices reached $301,400 in April, up slightly from March. Gains were driven by improvements in the North West, South East and West districts, while prices continued to trend down in the North East, North and East areas.

Inventory in the condo segment rose to 1,920 units in April, nearly three per cent higher than last year, and 27 per cent above long-term trends. Even as sales improved enough to push the sales-to-new-listings ratio to 46 per cent, it has not kept pace with new supply.

With more than four months of supply, conditions continue to favour buyers, limiting any meaningful upward pressure on condo prices until dynamics shift. 

The post Calgary market stabilizes, but condo sector is still shaky: CREB appeared first on REM.