As we transition into the summer market, year-to-date single-family new infill sales ease while townhome sales remain steady compared to last year.
Single-family new infills posted 34 sales during May, up slightly from the 32 sales recorded last month, however, down considerably from the 47 sales recorded in May of last year. Year-to-date, sales for single-family new infills are down over 28% compared to last year.
Single-family new infill inventory has also inched upwards, to 185 active listings for sale, from 178 active listings recorded last month, which is up considerably from the 117 active listings recorded at this time last year.
New infill townhomes posted 4 sales during May, down from the 7 sales recorded last month, and also down from the 6 sales recorded at this time last year. Year-to-date sales, however, are up 3.4% compared to the same period last year.
New infill townhome inventory has eased slightly, to 24 active units for sale, from 26 active units recorded last month and is also from 18 active units listed for sale at this time last year.
Inventory in both single-family and townhome new infills continues to climb as we work through the 2025 market. As the overall MLS market shifts towards more balanced conditions, buyer urgency eases across all market segments. Although prices are holding steady for the moment, accurate pricing is becoming a crucial factor in motivating buyers to submit an offer. We expect this trend to continue as we work through the summer months, where inventory is expected to climb further and sales activity recede.
CALGARY MARKET UPDATE (CREB)
City of Calgary, June 2, 2025 - Price adjustments mostly driven by apartment and row style homes
Thanks to steep pullbacks in the apartment condominium sector, total residential sales in Calgary eased by 17 percent compared to May of last year. While the drop does seem significant, the 2,568 sales this month remain 11 percent higher than long-term trends for May and improved over last month.
New listings continued to rise this month compared to sales, resulting in further gains in inventory levels. However, the monthly gain in both inventory and sales prevented any significant change in the months of supply compared to April. With 2.6 months of supply, conditions are still relatively balanced.
“Compared to last year, easing sales and rising inventories are consistent trends across many cities, as uncertainty continues to weigh on housing demand. However, prior to the economic uncertainty, Calgary was dealing with seller market conditions, and the recent pullbacks in sales and inventory have helped shift us toward balanced conditions taking the pressure off prices,” said Ann-Marie Lurie, Chief Economist at CREB®. “This is a different situation from some of the other larger cities, where their housing markets were struggling prior to the addition of economic uncertainty.”
Last year there was limited inventory across most property types and price ranges. Recent inventory gains are creating pockets of the market that are struggling with too much supply while in other areas supply levels are still low relative to the demand, resulting in divergent trends in home prices.
Both detached and semi-detached home prices have remained relatively stable this month and are still higher than last year’s levels. Meanwhile, row and apartment style homes have reported modest monthly price declines and May prices remain below last year’s levels, as improved new home and rental supply is weighing on resale prices. Overall, the total residential unadjusted benchmark price in Calgary was $589,900, slightly lower than last month and over two percent below May 2024 levels.