A recent report by HouseSigma reveals that Calgary's resale real estate market is experiencing a notable shift, with a growing number of homes selling at or below their list price. In April, data from the realty firm indicated that 77 per cent of homes sold at or under the asking price, compared to 70 per cent during the same period in 2025 and just 40 per cent in April 2024.
Price Corrections Across Housing Types
The median home sale price in Calgary remained relatively stable year over year at approximately $600,000. However, when broken down by housing type, all categories saw declines. Detached homes experienced a two per cent drop to a median of $715,000. Attached homes, including semi-detached and townhomes, fell three per cent to $485,000. Condominium apartments saw the largest decrease, with median prices down nearly seven per cent to $302,000.
Raj Sandhu, a realtor with HouseSigma in Calgary, attributes these trends to a price correction that has been unfolding. He notes that more buyers have entered the market in recent weeks, encouraged by increased inventory and a perceived stabilization in pricing.
Buyer-Friendly Conditions
One of the key indicators of a shifting market is the proportion of homes selling at or below list price. In Northeast Calgary, over 90 per cent of sales occurred at or under the asking price, while Chestermere led outlying communities with a similar rate. Sandhu describes the current environment as a favorable time for buyers to enter the market.
New home builders are also contributing to buyer-friendly conditions by offering significant discounts and incentives. These include GST rebates for first-time buyers and additional perks such as free air conditioning installations. Such measures are helping to attract purchasers who might otherwise be hesitant.
Economic Factors at Play
Realtor Tim Jones of Empowered Real Estate in Calgary highlights the mixed economic factors influencing the market. Global volatility, including the war in Iran, has created both challenges and opportunities. On one hand, inflationary pressures have pushed fixed-rate mortgages higher in recent weeks. On the other, rising oil prices have bolstered the Alberta economy, though many Calgarians remain cautious about the longevity of this boom.
Jones advises buyers to focus on their long-term financial capacity rather than short-term market fluctuations. For first-time buyers, he recommends weighing the pros and cons of renting versus ownership and considering how much principal will be paid down over a five- to ten-year period.
Advice for Sellers
For sellers, the current market demands a more price-sensitive approach. Sandhu warns against overpricing, as homes listed at higher levels are likely to sit on the market longer. In past years, high competition and low supply often led to homes selling above list price, but today's most desirable properties are those priced competitively. Sandhu advises sellers to price their homes accordingly to achieve a faster sale.
