Calgary home sales picked up in June, reaching 2,197 transactions, an improvement over May. Even with the monthly increase, sales were still about 4% lower than last June and came in just below the long-term average for the month. Much of the slowdown continues to come from apartment-style properties, while demand remains stronger in both the most affordable and highest-priced segments of the market.
Inventory remains the biggest story. After several years of record housing construction, more supply is becoming available across the resale, rental, and new-home markets. Most of that increase has been in higher-density housing, giving buyers more choice and putting downward pressure on condominium prices. Detached homes, however, continue to see more limited supply, with some areas of the city still reaching record-high prices.
New listings eased compared with last year, helping push the sales-to-new-listings ratio up to 56%. As a result, inventory growth has started to slow, leaving Calgary with just over three months of supply—generally considered a balanced market. Market conditions do vary by property type, though. Apartment condominiums remain firmly in buyers’ market territory, with nearly five months of supply and a sales-to-new-listings ratio of 45%.
These differences are also showing up in pricing. Calgary’s benchmark home price rose from May to $572,500, although it remains 2% below last June. Apartment condominiums have seen the largest adjustment, with benchmark prices down nearly 9% year over year to $299,000. Detached homes have held up much better, with the benchmark price reaching $750,500, just 1% below last year’s level.
Detached Homes
Detached home sales held steady in June with 1,202 sales, matching last year’s pace. Strong demand for homes priced under $600,000 and above $1 million helped offset slower activity in the middle price ranges. While inventory remains similar to last year, fewer new listings pushed the sales-to-new-listings ratio to 60%, keeping overall market conditions balanced.
Conditions do vary across the city. The North East and East districts continue to favour buyers, while the West district remains one of Calgary’s strongest markets, posting year-over-year price gains of nearly 4%. Meanwhile, prices in the North East have declined by almost 7%. Overall, the detached benchmark price sits at $750,500, up from May but just over 1% lower than a year ago.
Semi-Detached Homes
The semi-detached market continued to improve in June, leaving year-to-date sales only 1% below last year’s pace. Inventory growth has slowed, market conditions remain balanced, and prices have stayed remarkably stable. The benchmark price increased to $694,600, essentially unchanged from last June.
Price trends continue to vary by location, with the North West, West, and City Centre reaching new record highs, while the largest declines were seen in the North East.
Row Homes
Sales and new listings both slowed in June, helping keep inventory from growing further. With about three and a half months of supply, the row home market remains balanced, although buyers have noticeably more choice than they do in the detached and semi-detached sectors.
More available inventory has resulted in price adjustments across every district. Annual price declines range from 2% in the South to 10% in both the North East and East.
Apartment Condominiums
The apartment condominium market continues to face the most pressure. Year-to-date sales are down 26%, while inventory remains more than 24% above typical June levels. With roughly five months of supply, buyers continue to have plenty of choice.
This has translated into further price declines, with the benchmark price falling to $299,000, nearly 9% below last year. The largest price drops have occurred in the North East and East districts, while the North West has experienced the smallest decline at 7.5%.
Regional Highlights
Airdrie continues to experience softer conditions, with year-to-date sales down 14% and inventory climbing. Increased competition from both resale and new-home markets has pushed the benchmark price to $516,900, about 4% below last year.
Cochrane remains relatively stable. While June sales eased, year-to-date activity is still slightly ahead of last year. Inventory has increased modestly, but market conditions remain healthy enough to support stable pricing. The benchmark price sits at $580,200, less than 2% below last June.
Okotoks continues to see limited inventory, particularly for detached homes. Although conditions have become more balanced than they were a year ago, tight supply has helped keep prices steady. The benchmark price was $618,600, virtually unchanged from both May and June of last year.
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