Calgary Real Estate Report: Calgary Housing: Inventory Surge Crushes Seller Leverage

THE DAILY PULSE

• Daily Sales: 66
• New Listings: 127
• Net Inventory Change: Inventory Growing (+61)
• Today's Average Price: $572,886

Vibe Check: Today's average price of $572,886 is running $60,236 below the monthly average of $633,122. The action is happening in the entry-level and multi-family trenches—inventory is stacking up in the $500K-$600K range, and sellers are discovering their 2024 pricing expectations are extinct.

The Move: If you're buying an apartment condo or row home right now, you're holding the weapon. Sellers brought 127 new listings to the fight today, but only 66 homes moved. That's a 2-to-1 supply-to-demand ratio. Translation: Take your time. Make a tactical offer. The seller's leverage evaporated 61 units ago.

MONTHLY TRENDS

• Month-to-Date Sales: 611 (545 + 66)
• Month-to-Date New Listings: 1,219 (1,092 + 127)
• Total Active Inventory: 4,714

The Friction: February is 11 days deep, and new listings are crushing sales at a 2-to-1 ratio. The sales-to-new-listings ratio is sitting at 47%—that's buyer territory. Sellers are flooding the market with supply, but buyers are cherry-picking, not panic-bidding. Active inventory hit 4,714, the highest February level since 2020. Advantage: Buyers.

Tactical Advice for Sellers: If your property isn't the sharpest price on the block, you're just adding to the furniture. The market shifted—listings are outpacing sales by double. Price it right on Day 1, or prepare to watch your competition steal your buyer pool while your listing collects dust.

THE BIGGER PICTURE (YoY)

The Context: Calgary's inventory surged 21% year-over-year in January, hitting the highest levels since 2020. The city granted occupancy to a record 27,952 new homes in 2025—double the 10-year average—and that supply wave is crashing into the market right now. Apartment condos are sitting at over 5 months of supply, pushing benchmark prices down 7.4%-8% YoY. Row homes aren't far behind at 4.2 months, with prices off 5.2%-5.6% YoY. Detached homes remain the only seller-friendly battlefield at 2.7 months of supply, but even that armor is thinning. Mortgage rates dipped about five basis points recently, with three-year fixed rates seeing steeper drops—offering buyers a slight reprieve—but no major Bank of Canada rate cuts are on the horizon.

The Outlook: The double-digit appreciation party is over—Calgary is in full rebalancing mode, and the spring market is arriving with the highest inventory levels in three years. Buyers have choice, time, and pricing power. Sellers clinging to 2024 valuations are about to learn what "days on market" really means.

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