May 2025 Market Update
April 2025 marked the highest inventory levels our market has seen since 2021. With sales dropping a significant 22% year-over-year and new listings up 16%, the market has shifted toward a much more balanced position than we’ve seen over the past three years. That said, it’s clear that not all areas are faring equally — some segments are showing signs of strain.
The apartment sector, in particular, has been hit hardest. Prices rose just 0.5% compared to April 2024, while this segment led in both the steepest sales decline and the longest average Days on Market, now sitting at 36 days. Historically, this part of the market has been the most volatile — quick to rise in value, and just as quick to fall. When we zoom in, most of the softness is concentrated in the city’s core, whereas more unique or suburban neighborhoods continue to perform relatively in line with last year.
Looking ahead, we’ll be closely monitoring buyer activity. Calgary continues to grow, adding over 200 new residents per day, and housing demand remains strong. What has changed, however, is the surge in available housing — both in resale inventory and purpose-built rentals — which has helped alleviate pressure in the rental market. Add to that growing buyer hesitancy and the impact of a weakened job market (with over 30,000 jobs lost in Alberta in March), and it’s easier to understand why our market hasn’t experienced the same spring surge we’ve grown accustomed to over the past few years.