A Shift Toward Balance...

and that's a good thing for the Calgary Real Estate Market.

The latest real estate stats are in for Calgary, and the big headline? Listings are up 71% compared to last January. That number might make you do a double take, but before you start thinking the market is tanking—it's not. In fact, this is a much-needed shift toward balance.

What’s Really Happening?

Last year, the market was heavily skewed in favor of sellers. Buyers were scrambling, bidding wars were everywhere, and homes were selling in a flash with no conditions. Now, even with this big jump in listings, we’re still below the seasonal average for available homes. Inventory levels in January rose to 3,639 units—up significantly from last year but still lower than the 4,000+ units we would typically see this time of year. That means while inventory is up, we’re not in an oversupply situation.

Inventories rose across all property types, with some of the largest gains driven by apartment-style condominiums. However, the adjustment in supply is not equal across the board. Detached, semi-detached, and row homes are still seeing tight conditions compared to sales, while higher-priced apartment units are showing signs of excess supply.

A Better Market for Everyone Right Now

The market still slightly favors sellers—especially in the lower price ranges, where multiple offers are still happening. But buyers are finally getting a bit of breathing room. Instead of making snap decisions in 15 minutes and throwing down half a million dollars with no conditions, they actually have time to think.

New listings rose to 2,896 units in January compared to 1,451 sales. Sales in January were down 12% from last year, but even with that drop, they were still nearly 30% higher than what we typically see in January. The months of supply hit 2.5 months, up from last year’s single month of supply but still considered low for a winter market. The supply varies by property type, with semi-detached homes under two months of supply and apartment units at 3.5 months.

If this trend continues into the spring, we’re looking at a much healthier market than last year’s frenzy. And honestly? This is the kind of market you want to be in. When things are balanced, prices rise steadily over time instead of swinging wildly. That’s good for buyers, good for sellers, and great for homeowners in general.

Final Takeaway
The market is adjusting, but not crashing. We’re moving toward a more stable, predictable space—one where buyers have options, and sellers can still get strong prices. The total residential benchmark price in January was $583,000, which is relatively stable compared to the end of last year and nearly 3% higher than last January. Price growth also varied across districts and property types, reflecting the market’s shift toward a more balanced state.

Questions? Always happy to chat about the market, coffee is on me! 

Cheers,
Ken

Want the full stats from The Calgary Real Estate Board? Click here to check them out.