May 2025 Calgary Real Estate Market Update: What It Means for Buyers and Sellers

If you’ve been keeping an eye on the Calgary real estate market, you’ve likely noticed some shifts in recent months. May brought a bit of a curveball, but not necessarily a bad one. The big headlines point to a 17% drop in residential sales compared to May of last year, with apartment-style homes and row housing leading the way in that decline.

But let’s take a deeper dive. Because behind that stat, there’s actually a story of opportunity, for both buyers and sellers. And as someone who’s worked in Calgary real estate for over 15 years, I can tell you this: the smart money isn’t running from this market, it’s preparing to make informed, strategic moves in it.

📉 The Big Picture: A Shift Toward Balance

Let’s start with what’s happening at a city-wide level. The total number of sales in May 2025 landed at 2,568. Yes, that’s a decline compared to last year’s breakneck pace, but it’s still 11% higher than long-term averages for May. And it’s an improvement over April’s performance.

Inventory also climbed again in May. This is key, because the combination of rising listings and easing sales has helped shift Calgary out of the extreme seller’s market we were in last year and into much more balanced territory. In fact, with 2.6 months of supply, we’re sitting in a healthy middle ground, not enough to send prices tumbling, but enough to cool the intense bidding wars we saw in 2023 and early 2024.

🧠 What This Means for Sellers: A Smarter, More Strategic Market

If you’re thinking about selling your home, this market might not feel as “hot” as it did a year ago. But here’s the thing, hot doesn’t always equal healthy. Last year, sellers enjoyed intense demand, but that came with buyer fatigue, rushed decisions, and sometimes, deals that fell apart.

Today’s market is different and in many ways, better. Buyers are more serious. There’s less chaos. And while the frenzy has calmed, prices for detached and semi-detached homes remain strong, especially in Calgary’s Northwest, West, and City Centre districts.

If you’re listing a detached home, know that:

• Prices are still up 1% year-over-year
• The benchmark price sits at $769,400
• Certain districts are outperforming others (Northeast is softening due to new competition)

If you’re selling a semi-detached property, the news is even better:

• Prices are nearly 3% higher than last May
• The average price has risen to $697,300
• Inventory remains tight in popular districts like the North West

In other words, the demand is still there but strategy matters more than ever. Accurate pricing, compelling presentation, and skilled negotiation will make the difference between sitting and selling.

🔎 The Opportunity for Buyers: More Choice, Less Pressure

For buyers, this is the window many of you have been waiting for.

We’ve got rising inventory, especially in apartments and row housing, and less competition at the offer table. If you’ve felt frustrated by bidding wars or limited options in the past couple of years, the current conditions might feel like a breath of fresh air.

Let’s break it down:

🏢 Apartment Condos:

• Sales are down significantly from last May (579 vs. 907 units)
• Inventory has increased, and prices are softening
• May’s benchmark condo price was $335,300, down over 1% from last year

Why? There’s more choice for renters and investors thanks to a spike in new apartment construction. That means more competitive pricing in the resale market, great news if you’re looking to get into the market or expand your rental portfolio.

🏘️ Row Homes:

• Still above long-term sales averages
• Inventory at its highest point since 2021
• Benchmark price sits at $453,600, about 2% below last year

Buyers looking for that middle ground between a condo and a detached home will appreciate the increased inventory in this category especially in the North East, North, and South areas of the city.

📍 Neighbourhood Watch: Where the Market’s Moving

Real estate is local, even hyperlocal. And different parts of Calgary (and surrounding communities) are behaving differently.

Here’s a quick round-up:

✅ Strengthening Districts:

• North West, West, and City Centre are holding steady or seeing slight price increases in detached and semi-detached homes.
• Okotoks saw a surge in activity and a benchmark price increase to $633,900, up more than 2% over last year.

⚠️ Softening Districts:

• North East Calgary has the highest months of supply across multiple property types, especially in the apartment sector.
• Airdrie and Cochrane are seeing more listings and a modest price dip due to new builds hitting the market.

For buyers, this is where it gets interesting. If you’re looking in the North East, South East, or newer areas of Airdrie, you may have extra negotiating power. For sellers, staying ahead of price trends and buyer expectations in these regions is critical but with the right strategy, your goals are absolutely within reach.

💡 My Take: The Market Isn’t Falling — It’s Evolving

Let’s be clear: this is not a “market crash”, it’s a market correction and normalization. The extreme scarcity and record-setting price hikes of the past two years were never sustainable. What we’re seeing now is a rebalancing, a healthier market that benefits both sides of the transaction when approached thoughtfully.

We’re also starting to see more divergence between property types and areas. That means it’s more important than ever to work with a real estate professional who understands:

• Micro-market dynamics
• The psychology of today’s buyers
• The importance of customized negotiation strategies

🧭 Advice for Sellers

• Don’t panic about price softening. Detached and semi-detached homes are still holding value.
• Stand out. In a more balanced market, proper staging, great photography, and solid marketing make all the difference.
• Price it right the first time. Overpricing can backfire quickly.
• Plan for negotiation. Buyers are more cautious today. I use proven strategies including ZOPA, BATNA, and personality profiling to get you the best outcome.

🧭 Advice for Buyers

• Get pre-approved. Knowing your numbers gives you confidence and strength in negotiations.
• Shop strategically. Look at districts with higher inventory as they’re ripe for value.
• Think long term. Even with minor price adjustments, real estate in Calgary remains a solid long-term investment.
• Negotiate smart. This is where I shine, creating offers that get you the home and protect your interests.

✨ Final Thoughts

Whether you’re buying your first condo, upsizing your family home, or preparing to sell and downsize, this market has something for you if you approach it with clarity and confidence.

Yes, May brought a slowdown in sales. But we’re still ahead of long-term trends, and Calgary’s real estate fundamentals remain strong. New inventory brings more choice, more balance, and more opportunity, not less.

Want to explore what this market means for your next move? I’m here to help you navigate it with insight, experience, and strategy tailored to your goals.

Let’s talk. No pressure, just honest advice.