Overview: June Sales Drop Sharply as Inventory Nears Peak
June 2025 brought Calgary's most significant year-over-year sales decline of the second quarter, with total residential transactions falling 16.48 percent from June 2024. According to CREB's monthly statistics released July 2, 2025, sales reached 2,286 units while new listings came in at 4,223, the highest monthly new listing count of 2025 to that point. Active inventory climbed to 6,941 units, approaching the year's high as the gap between supply and demand continued to widen.
The total residential benchmark price was $586,200 in June, a 3.59 percent decline year over year. With 3.04 months of supply city-wide, the overall market remains in balanced territory by the broad measure, though the story is very different at the property type level. The apartment condominium segment is approaching the four-month buyer's market threshold at 3.97 months of supply, while detached and semi-detached homes remain much tighter. The North East and East districts are experiencing the sharpest district-level corrections, driven by condo inventory concentrations in those areas.
June's data marks a meaningful escalation of the inventory buildup that began in early 2025. The seasonal boost in new listings that typically characterizes late spring has added to already-elevated inventory levels rather than being absorbed by matching demand, setting up a late-summer market with more supply than in any comparable period in recent years in the condo and row segments.
June 2025 Calgary by the numbers: 2,286 sales, 4,223 new listings, 6,941 active listings, 3.04 months of supply, and a total residential benchmark price of $586,200.
June 2025 Sales and Listings Activity
The 2,286 residential sales in June represent a 16.48 percent decline from June 2024, the largest year-over-year sales gap of the second quarter of 2025. New listings at 4,223 were elevated, reflecting the typical seasonal increase in supply. With new listings meaningfully outpacing sales, active inventory climbed to 6,941 units by month end, a level that would have been considered high by any standard of recent Calgary market history in the apartment and row segments.
Days on market averaged 33 for June, somewhat lower than the late-summer and fall months, reflecting the traditional pickup in buyer activity that accompanies the spring and early summer season. The sale-to-list price ratio held at 98.40 percent, among the highest of any month in the current correction cycle, indicating that well-priced properties were still transacting close to asking price in June despite the rising inventory backdrop. Buyer selectivity is increasing, but the buyers who are active are still completing transactions at competitive price levels.
Year-to-date through June 2025, total sales are running well below 2024 levels across all property types. The first half of 2025 will almost certainly be recorded as one of the softest first-half periods Calgary has seen since the pandemic years, with demand failing to keep pace with the supply additions that have accumulated through the year.
Gold dashed line marks the 4-month buyer's market threshold. Source: CREB Monthly Statistics, June 2025.
Calgary Home Prices by Property Type in June 2025
The total residential benchmark of $586,200 in June 2025 reflects a 3.59 percent year-over-year decline. The apartment condo segment at $333,500 is the most affected by the correction, while detached homes at $764,300 have absorbed a negligible 0.43 percent year-over-year decline. Semi-detached homes posted the only positive gain, up 1.50 percent, while row homes fell 3.08 percent. The divergence between property types in June is clear and mirrors the supply conditions visible in the months-of-supply data.
Source: CREB Monthly Statistics, June 2025
Detached Homes
Detached homes in June 2025 posted a benchmark price of $764,300, essentially flat year over year with just a 0.43 percent decline. At 2.60 months of supply, the detached segment remains firmly in seller's territory and continues to significantly outperform the other property types. Calgary's tightest detached markets in the West and North West are seeing months of supply well below even the 2.60 city-wide detached average, and well-presented properties in those communities continue to generate competitive buyer interest.
Semi-Detached Homes
The semi-detached segment posted the strongest year-over-year performance in June 2025, with the benchmark price of $696,400 representing a 1.50 percent gain. With only 2.62 months of supply, the semi-detached market is the tightest of any property type. Consistent demand from buyers stepping up from the condo market and limited new supply additions have kept semi-detached pricing resilient. Sellers in this segment continue to operate from a position of strength relative to the broader market.
Row Homes and Townhouses
Row homes in June 2025 saw a benchmark price decline of 3.08 percent year over year to $450,300. The 3.35 months of supply reflects an elevated level that is approaching the upper boundary of the balanced range. The spring new listing surge added to the row home inventory pool across multiple districts, and buyers in the townhouse segment now have genuine selection and some negotiating leverage. Row homes in the North East and East districts have seen the most supply accumulation and the most pricing flexibility.
Apartment Condominiums
Apartment condominiums sit at 3.97 months of supply in June 2025, approaching but not yet crossing the four-month buyer's market threshold. The benchmark price of $333,500 reflects a 3.25 percent year-over-year decline, with the most significant corrections concentrated in districts with the highest condo density. The apartment segment is on a clear trajectory toward buyer's market conditions as the year progresses. Buyers in the condo segment in June already have meaningful selection and pricing flexibility, particularly in the North East and East where district-level corrections have been sharpest.
Source: CREB Monthly Statistics, June 2025
The apartment segment sits at 3.97 months of supply in June 2025, approaching the four-month buyer's market threshold. With a benchmark price decline of 3.25 percent year over year, the condo market is on a clear trajectory as inventory continues to accumulate heading into the second half of 2025.
Calgary Real Estate Prices by District in June 2025
June 2025 district-level data shows no Calgary district recording a year-over-year benchmark gain. The South recorded the smallest decline at 1.7 percent, anchored by its relatively balanced property type mix. The North East and East continue to lead the correction, with benchmark prices down more than five and six percent respectively, driven by the concentration of apartment condominiums in those areas.
Source: CREB Monthly Statistics, June 2025. Total residential benchmark, all property types combined.
West District
The West district posted a 2.6 percent year-over-year total benchmark decline in June 2025, one of the more modest corrections among Calgary districts. The West's detached market has remained resilient through the spring selling season, with supply staying constrained and demand from premium buyers holding relatively steady. The limited apartment inventory in the West insulates the district benchmark from the condo correction that is more visible in other parts of the city.
North West District
North West recorded a 3.2 percent year-over-year total benchmark decline in June. The district's heavier presence of detached and semi-detached product relative to condos has cushioned the correction, though the apartment segment in the North West has seen more softening than earlier in 2025. Overall the North West continues to perform better than the city-wide average of 3.59 percent.
City Centre and South
The City Centre posted a 3.5 percent year-over-year total benchmark decline in June 2025, driven substantially by the apartment market where inventory has been building in inner-city high-rise buildings. The South district recorded the smallest correction of any district in June at 1.7 percent, benefiting from its more balanced property type mix and consistent demand from buyers targeting southern communities. South Calgary's detached market held up particularly well relative to other districts.
South East District
The South East recorded a 3.4 percent year-over-year total benchmark decline in June, landing in the moderate correction range. Supply in the South East's apartment and row segments has been growing through the spring, providing buyers with improved selection. The South East detached market has been more insulated, with tighter supply conditions keeping prices more stable than in the higher-density segments of the district.
North East and East
The North East and East continue to record the sharpest corrections citywide in June 2025, down 6.3 percent and 5.3 percent year over year respectively. Both districts have the heaviest concentration of apartment condominiums in Calgary, and the ongoing condo correction is hitting hardest in these areas. The value opportunities for affordability-focused condo buyers in the North East and East are among the most significant in the current market cycle.
What June 2025 Data Means for Calgary Buyers
For buyers targeting detached homes, June 2025 still rewards preparedness and decisiveness in the stronger markets. The West and North West detached segments in particular continue to see constrained supply, and well-priced properties attract genuine interest. Do not confuse the city-wide inventory headline with conditions in tight detached sub-markets. In those communities, buyers who arrive pre-approved and ready to act are still seeing the best outcomes.
Apartment buyers in June 2025 have meaningful negotiating opportunity even before the market technically crosses into buyer's territory. With supply at 3.97 months and trending upward month over month, conditions strongly favour buyers in the condo segment. Sellers who need to transact are already making concessions on price and conditions that would not have been available in 2024. In the North East and East, the discounts relative to prior-year pricing are among the most compelling of the current cycle.
Row home buyers in June have improved selection across most districts, particularly in the South East and North East where townhouse inventory has grown most significantly. The negotiating leverage for row home buyers in June 2025 is real, though less dramatic than in the apartment segment. Targeting communities where row home supply has accumulated most will yield the best pricing flexibility.
What June 2025 Data Means for Calgary Sellers
Sellers in June 2025 are operating in a market where precision in pricing and marketing quality determine outcomes. A 98.40 percent sale-to-list ratio for correctly priced properties means the market is still rewarding well-positioned listings, but the ceiling of what buyers will pay is clearly defined by current comparables. Sellers who price above that ceiling are not finding buyers willing to bridge the gap, and extended days on market is the typical outcome.
Detached sellers in the stronger districts can still achieve solid results in June. If your property is updated, correctly priced, and professionally presented, the June market has enough active buyers in the detached segment to produce a competitive transaction in a reasonable timeframe. Sellers who need more certainty than speed should price at the market rather than above it from launch.
Apartment sellers are entering a market where the tide has shifted. At 3.97 months of supply and prices declining at 3.25 percent year over year, buyers have selection and time on their side. Condo sellers who must sell in June 2025 need to price with buyers' comparables in mind, not 2024 peak pricing. The sellers who are achieving successful outcomes in this environment are doing so through competitive launch pricing and strong initial marketing, not through price reductions after extended periods on market.
Outlook: What to Watch as Summer Peaks
June's 4,223 new listings represent a seasonal high that is adding significantly to an already-elevated inventory base. As we move into July and August, the traditional summer slowdown in new listings will be important to watch. If new listing volumes moderate while demand holds steady through the summer, inventory could stabilize. If new listings continue at a pace above what buyers absorb, active inventory will climb further and price pressure in the condo and row segments will intensify.
The Bank of Canada rate path remains critical. Any rate reduction heading into the summer could unlock first-time buyer demand and reactivate investor interest in the condo segment, which would help absorb the inventory accumulation fastest. Rate-sensitive buyers have been the most visible source of demand pull-back in 2025, and any improvement in borrowing costs would likely translate quickly into improved activity in the apartment and row segments.
For the detached market, June's data continues to support the view that supply constraint is the primary price stabilizer in Calgary's stronger districts. As long as detached months of supply stays below three in the West, North West, and South, meaningful price declines in the detached segment are unlikely. The structural supply dynamics of those areas have not changed, and any improvement in overall market demand will hit those segments first.
Data sourced from CREB Monthly Statistics Package, City of Calgary, June 2025. Released July 2, 2025.
