Calgary Condo Prices Fall 9% Amid Overall Market Slowdown
Calgary apartment-condominium prices fell 9% in June to a benchmark price of $299,000 as the overall market experienced a sales slowdown, says the local real estate board.
A surge in high-density housing supply continued to soften the city’s resale market, said CREB in its monthly market report.
June home sales totalled 2,197, up from May but down nearly 4% from a year earlier and slightly below the long-term average for the month, figures show. The board said weaker demand for apartment-style homes and rising inventory in the resale, rental and new-home markets are weighing on prices, particularly in the condo segment.
“The easing of demand for resale homes does not come as a surprise given the recent decline in migration, which is impacting both rental and ownership demand for higher-density homes,” said Ann-Marie Lurie, chief economist at CREB. “The bigger change in our market relates to inventory, which has been on the rise in the rental, resale and new-home markets following several consecutive years of record-high housing starts
“Inventory growth has mostly occurred in high-density homes, resulting in buyer’s market conditions and steep price adjustments for condominium apartments. While it will take time to absorb the high-density supply, detached supply growth has been limited and some districts are reporting record-high prices.”
The apartment-condominium market remained firmly in buyers’ territory in June, with 423 sales, 931 new listings and 2,076 active listings, representing about five months of supply. Year-to-date apartment sales have dropped 26% to 2,260 units, while benchmark prices have declined across every district, with the steepest decreases exceeding 14% in the northeast and east.
Across all residential property types, Calgary’s unadjusted benchmark home price was $572,500 in June, down 2% from a year earlier. Detached homes remained comparatively resilient, with the benchmark price reaching $750,500, about 1% below the June 2025 level, as tighter supply continued to support prices in several districts.
Pictured: Calgary from its western side.
Photo: Shutterstock
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