Calgary has been one of Canada's strongest housing markets over the past two years. Driven by strong interprovincial migration from Ontario and BC, robust employment in energy and tech, and relatively affordable prices compared to Vancouver and Toronto, Calgary's real estate market has significantly outperformed most of the country since 2022.
In 2025, the average home price sits around $600,000 — still roughly half the cost of Toronto and significantly below Vancouver. That affordability advantage, combined with Alberta's no provincial income tax environment, continues to attract buyers from across Canada.
| Property Type | Average Price (2025) | Year-over-Year |
|---|---|---|
| Single-Family Detached | $740,000 | +6.8% |
| Semi-Detached | $590,000 | +5.2% |
| Row/Townhouse | $430,000 | +7.1% |
| Apartment/Condo | $320,000 | +4.9% |
| All Types (Average) | $600,000 | +6.2% |
Calgary's condo market has been a standout performer — with the $320,000 average well below what a condo costs in Toronto or Vancouver, it attracts first-time buyers and investors seeking better yield. Row homes (townhouses) have seen particularly strong demand as buyers seek ground-oriented housing without the premium of a detached home.
Inventory remains tight in Calgary despite increased building activity. New construction has ramped up but has not fully offset the surge in demand from interprovincial migrants. In early 2025, months of supply for detached homes sits near 1.5–2.0 months — firmly seller's market territory.
| Metric | 2022 | 2023 | 2025 |
|---|---|---|---|
| Active Listings (Detached) | 2,100 | 2,800 | 2,200 |
| Avg Days on Market | 19 | 28 | 24 |
| Months of Inventory | 1.2 | 2.1 | 1.8 |
| Sale-to-List Ratio | 102% | 99% | 101% |
Multiple offer situations are still common on well-priced detached homes in Calgary's inner-city communities and northwest/southwest quadrants. Buyers in these areas should be prepared to compete.
| Area | Avg Detached Price | Character |
|---|---|---|
| Inner City (Inglewood, Ramsay) | $850,000 | Infill, high demand |
| Southwest (Signal Hill, Aspen) | $780,000 | Established, family |
| Northwest (Tuscany, Nolan Hill) | $680,000 | Newer suburbs |
| Northeast (Saddle Ridge, Taradale) | $540,000 | High growth, diverse |
| Southeast (Mahogany, Auburn Bay) | $660,000 | Lake communities |
| Airdrie (adjacent city) | $510,000 | Commuter, affordable |
Calgary's population growth has been exceptional. Alberta as a province attracted record interprovincial migration in 2022–2024, with much of it flowing into Calgary. Key drivers include:
Calgary stands out for affordability relative to income, especially compared to Toronto and Vancouver:
This affordability differential is a primary reason why Calgary continues to attract buyers from other provinces, and why local first-time buyers have more accessible entry points than in most major Canadian cities.
Calgary has seen a construction boom to meet demand. New housing starts in the Calgary Census Metropolitan Area are running well above the 10-year average. The city's relatively efficient planning and approval processes allow faster supply response than cities like Toronto or Vancouver, which is helping moderate price growth in outer communities even as inner-city prices remain elevated.
Calgary is expected to remain one of Canada's best-performing real estate markets through 2025. Price growth of 5–8% is forecast as demand continues to outpace supply in desirable segments. The detached and townhouse segments are expected to lead gains, while condos — though strong — may see slightly moderated growth as more units come to market.
Risks to the outlook include an oil price downturn affecting employment and a potential slowdown in interprovincial migration if other provinces' affordability improves significantly.
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Open KOHO Free — Code 45ET55JSYAYes, for detached and townhouse properties, Calgary remains broadly a seller's market with under 2 months of inventory in most segments.
Yes. Calgary prices are up approximately 6% year-over-year, making it one of Canada's best-performing markets in 2025.
No. Alberta does not have a provincial land transfer tax, which saves buyers thousands compared to buying in Ontario or BC.