Calgary’s real estate market saw continued growth in resale inventory this June, with supply levels rising both month-over-month and year-over-year. By the end of the month, inventory reached 6,941 units — returning to levels last seen in 2021, before the recent population surge.
While home sales remain in line with long-term trends, they’ve dipped slightly from recent months. A higher number of new listings compared to sales has driven this increase in available inventory.
All housing types have seen a rise in supply, but the largest increases are in apartment and row-style homes — both now sitting more than 30% above long-term inventory trends. In contrast, detached and semi-detached home supply has only risen modestly.
"Supply has improved across rental, resale, and new home markets, giving buyers more options,” said Ann-Marie Lurie, Chief Economist at CREB®. “But with lending rates holding steady, ongoing economic uncertainty, and fears of price adjustments, many buyers are hesitating — especially in segments like apartments and row homes, where prices are now under pressure."
In June, the unadjusted benchmark price dropped to $586,200 — down from last month and over 3% lower than the same time last year. The bulk of this citywide decline is driven by the apartment and row home markets, which have both fallen by more than 3% annually. Detached home prices remain stable, while semi-detached homes are still slightly up compared to last year.
The sharper decline in apartment and row home prices signals a shift toward a buyer’s market in those segments, with nearly four months of supply now available. Detached and semi-detached properties, on the other hand, remain in more balanced territory.
Despite the recent softening, Calgary’s housing market still reflects the substantial price gains seen over the past four years.
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