02/05/2025
January brought a welcome shift in market conditions, with inventory levels rising to 3,639 units—a 70% year-over-year increase. While supply remains below the 4,000+ units typically seen in January, the increase, especially in apartment-style condominiums, is helping balance the market.
"Supply levels are expected to improve this year, contributing to more balanced conditions and slower price growth," said Ann-Marie Lurie, Chief Economist at CREB®. However, detached, semi-detached, and row homes remain in tight supply, while higher-priced apartment condos show signs of excess inventory.
Despite a 12% drop in sales from last year, levels remain 30% above historical January averages. The residential benchmark price held at $583,000, a 3% increase year-over-year.
Market Highlights
🔹 Detached Homes: New listings rose 29% to 1,228 units, while inventory remains 27% below typical January levels. The benchmark price hit $750,800, up 7% year-over-year.
🔹 Semi-Detached: Months of supply just below 2 months. Prices saw 8% annual growth to $673,600. Some districts reported modest price declines.
🔹 Row Homes: Inventory more than doubled from last January, easing price pressures. The benchmark price reached $444,900, up 5% from last year.
🔹 Apartment Condos: Sales slowed, but new listings surged to a record 922 units for January. Months of supply rose to 3.5 months, while the benchmark price remained 5% higher than last year at $331,400.
📞 Thinking of buying or selling? Contact us today for expert guidance in navigating this evolving market.
👨💼 Steve Vrbanic
📲 403-473-8958
🌎 www.findhomescalgary.com
Century 21® | Bamber Realty Ltd.
