Overview: Inventory Climbs as Summer Demand Softens
August 2025 continued the pattern of rising inventory and softening sales that has characterized Calgary's market through much of the year. According to CREB's monthly statistics released September 2, 2025, total residential sales reached 1,989 units, down 8.85 percent from August 2024. New listings came in at 3,478 while active inventory reached 6,661 units, reflecting steady supply accumulation that has shifted negotiating dynamics in most property segments.
The total residential benchmark price was $577,200 in August, a 4.09 percent decline year over year. With 3.35 months of supply city-wide, the overall market remains in balanced territory by the aggregate measure, but that figure continues to mask a wide divergence between property types. Detached and semi-detached homes are holding up well in both pricing and supply conditions, while apartments have crossed into buyer's market territory and row homes are approaching that threshold.
Calgary's August market reflects a housing landscape in transition: the rapid price appreciation of 2022 and 2023 has clearly reversed in the higher-density segments, while the detached market remains comparatively resilient. Understanding which segment and which district applies to your situation is more important than ever in reading the current data correctly.
August 2025 Calgary by the numbers: 1,989 sales, 3,478 new listings, 6,661 active listings, 3.35 months of supply, and a total residential benchmark price of $577,200.
August 2025 Sales and Listings Activity
The 1,989 residential sales in August represent a nearly nine percent year-over-year decline, continuing the demand softening trend that began earlier in 2025. New listings at 3,478 maintained a steady flow of supply into the market, and with sales running below that pace, active inventory has climbed to 6,661 units. The gap between new listings and sales each month has been the primary driver of the inventory accumulation now visible across multiple property segments.
Days on market averaged 38 for August, reflecting a market where buyers are taking somewhat longer to make decisions than in prior years. The sale-to-list price ratio held at 97.84 percent, indicating that accurately priced properties are still transacting near asking. Properties that are overpriced relative to current comparables are sitting noticeably longer and facing harder negotiations. The discipline required in pricing strategy has increased materially compared to 2023 and early 2024.
Year-to-date sales are tracking well below 2024 levels across all property types, but the gap is most pronounced in the apartment and row segments where inventory accumulation has been sharpest. Detached sales, while also lower year over year, have held up relatively better as supply in that segment has not surged to the same degree as in the condo and townhouse markets.
Gold dashed line marks the 4-month buyer's market threshold. Source: CREB Monthly Statistics, August 2025.
Calgary Home Prices by Property Type in August 2025
The total residential benchmark of $577,200 in August 2025 reflects a 4.09 percent year-over-year decline, but the headline number understates the divergence playing out beneath it. Detached and semi-detached homes have held their value far better than row homes and apartments, with each property type responding to its own supply and demand dynamic rather than a uniform city-wide trend.
Source: CREB Monthly Statistics, August 2025
Detached Homes
The detached segment in August 2025 recorded a benchmark price of $755,600, representing a 0.92 percent year-over-year decline. With only 3.07 months of supply, detached homes sit comfortably within balanced territory, and supply in the city's most desirable districts remains tighter than this city-wide figure suggests. Sellers of well-located detached properties continue to benefit from relatively constrained competition, with months of supply in the West and North West well below the overall detached average in many communities.
Semi-Detached Homes
The semi-detached benchmark reached $687,200 in August 2025, posting a 0.88 percent year-over-year gain. At just 2.56 months of supply, the semi-detached segment is the tightest of any property type, firmly in seller's territory by the months-of-supply measure. Limited new semi-detached supply entering the market and consistent buyer demand from those priced out of the detached market have kept this segment resilient. Semi-detached sellers in most Calgary districts remain in a relatively favourable position.
Row Homes and Townhouses
Row homes saw a 4.79 percent year-over-year benchmark price decline in August, landing at $439,600. The 3.25 months of supply is elevated but still within the balanced range. Competition from rental market alternatives and newer townhouse construction has weighed on resale row home values in 2025, and buyers in this segment now have meaningful selection and some pricing leverage. The gap between row home prices and apartments has narrowed, which is adding some complexity to buyer decisions at the lower end of the townhouse market.
Apartment Condominiums
Apartments in August 2025 saw a 5.77 percent year-over-year benchmark decline to $326,500, with 4.41 months of supply putting the segment firmly in buyer's market territory. Improved rental supply has reduced the urgency to purchase for many prospective first-time buyers, and record-level apartment inventory in several districts is creating meaningful downward price pressure. Apartment buyers in August 2025 have genuine selection across most Calgary districts and real room to negotiate on both price and conditions.
Source: CREB Monthly Statistics, August 2025
The semi-detached segment was the only property type to post a year-over-year price gain in August 2025, up 0.88 percent, while apartments fell 5.77 percent and crossed the buyer's market threshold at 4.41 months of supply.
Calgary Real Estate Prices by District in August 2025
August 2025's district-level data shows no Calgary district recording a year-over-year benchmark price gain. The West and North West continue to post the most modest declines, anchored by detached and semi-detached demand. The South East, North East, and East districts are experiencing the sharpest corrections, driven by the apartment segment where inventory has reached record levels in those areas.
Source: CREB Monthly Statistics, August 2025. Total residential benchmark, all property types combined.
West District
The West posted a 2.4 percent year-over-year total benchmark decline in August 2025, the most modest correction of any Calgary district. The detached segment in the West remains the primary buffer against sharper declines, with months of supply staying well below the city-wide average. Premium buyers targeting West Calgary's established communities have not abandoned the market despite the broader slowdown, keeping demand relatively stable compared to other areas of the city.
North West District
North West recorded a 2.5 percent year-over-year total benchmark decline in August, very close to the West's performance. The North West's detached and semi-detached markets have held up well, with supply levels remaining in balanced territory. The apartment market in the North West has seen some softening, which has a modest impact on the overall district benchmark. Relative to the city-wide average decline of 4.09 percent, the North West continues to be one of Calgary's more stable markets.
City Centre and South
The City Centre recorded a 3.9 percent total benchmark decline year over year in August, just below the four-percent threshold. The density of apartment condominiums in the City Centre is the primary driver of this correction. The South district is down 2.9 percent, with its more balanced mix of property types providing some insulation. Detached homes in the South have held up comparatively well, while apartment and row home prices in the district have softened more in line with the city-wide trend.
South East District
The South East recorded a 4.3 percent year-over-year total benchmark decline in August 2025, placing it in above-average correction territory. The apartment segment in the South East has seen inventory accumulate through 2025, driving prices lower than in the West or North West. Buyers targeting South East condominiums or townhouses have a meaningful selection advantage and some pricing leverage in the current market.
North East and East
The North East and East continue to record the sharpest district-level corrections in Calgary, with total benchmark declines of 7.6 percent and 7.4 percent respectively in August 2025. Both districts have the highest concentration of apartment condominiums among all Calgary areas, and the condo correction is hitting hardest in neighbourhoods where new supply and rental competition have both increased. Value-focused buyers looking for affordability in the condo segment will find the most significant price concessions in these districts.
What August 2025 Data Means for Calgary Buyers
For buyers targeting detached homes, August 2025 still requires preparation. Supply in the West and North West detached markets is constrained, and well-priced properties attract serious interest. Come with financing in order and a clear sense of the specific communities and price ranges where you want to compete. The city-wide data suggests more buyer power than actually exists in Calgary's tightest detached sub-markets.
Apartment buyers in August 2025 have the strongest negotiating position in years. With 4.41 months of supply and benchmark prices at $326,500, there is genuine room to negotiate on price, conditions, and possession. In the North East and East, where corrections have been steepest, the opportunity to acquire an apartment at a meaningful discount from 2023 peak pricing is real. First-time buyers and investors who have been waiting for conditions to improve should be paying close attention to August's data.
Row home buyers are in a middle position with real, if less dramatic, negotiating opportunities. Supply in the townhouse segment has been building, particularly in the South East and North East, giving buyers options and some pricing flexibility. In the more established inner-city communities where row home supply remains limited, competition is more present than the broader data suggests, so district-specific analysis is essential before forming offer strategies.
What August 2025 Data Means for Calgary Sellers
Sellers in August 2025 must enter the market with realistic expectations. At 38 days on market on average and a 97.84 percent sale-to-list ratio, properties are transacting but the pace and terms have shifted. Overpriced listings are the primary casualties: they accumulate days-on-market data that gives buyers justification to negotiate harder, leading to outcomes worse than a properly priced launch would have produced.
Detached sellers in the West and North West can still expect competitive results if their pricing reflects current comparable sales. Months of supply in those segments remain low enough that a correctly positioned property will generate interest. But the seller leverage of 2022 and 2023 is not present in August 2025, and sellers who price as if it is will underperform the market significantly.
Apartment sellers face the most challenging environment of any property type. With 4.41 months of supply and prices down nearly six percent year over year, buyers hold the cards. Sellers who must sell in August 2025 should price to sell from day one, avoid protracted price reductions, and work with an agent who understands how to position a condo effectively in a buyer's market. Waiting for conditions to improve risks absorbing further price declines without a guaranteed improvement in timing.
Outlook: What to Watch as Summer Closes
The August data confirms that Calgary's market correction is ongoing and deepening in the higher-density segments. With inventory at 6,661 units and still climbing, the supply-demand imbalance shows no signs of resolving quickly. Demand would need to accelerate meaningfully to absorb the current inventory overhang before year-end, and there are no obvious near-term catalysts to drive that acceleration.
Interest rate policy remains the most important external variable. Any Bank of Canada rate cut heading into fall 2025 could improve affordability calculations for first-time buyers and investors and unlock some of the latent demand that has been sitting on the sidelines. Rate-sensitive segments like apartments and row homes would be the first beneficiaries, and any demand surge in those segments could slow price declines faster than the current inventory data would suggest.
For the detached market, watch whether months of supply begins to edge upward in the historically stronger districts. If West, North West, and South detached supply stays below four months through the remainder of 2025, price stability in those segments is likely to persist even if the broader market continues to soften. The structural story of Calgary's detached market has not changed: supply remains constrained in the right locations, and that constraint provides a meaningful price floor.
Data sourced from CREB Monthly Statistics Package, City of Calgary, August 2025. Released September 2, 2025.
