A new report from Royal LePage suggests that although the real estate market will still see prices rise in 2025, things are starting to settle down.
In the 2025 market survey forecast, the real estate company analyzed trends and price data to provide an update and outlook on Canada’s housing market.
In Calgary, the aggregate price of a home in the fourth quarter of 2025 is forecast to increase 4% year over year to $728,104. During the same period, the median price of a single-family detached property is expected to rise 4.5% to $836,000, while the median price of a condominium is forecast to increase 2% to $278,154.
Experts at Royal LePage say the real estate market in Calgary was busier than most in 2024; however, it has reached a point where conditions appear to be stabilizing. Inventory has gone from extreme lows to levels not seen in nearly two years; however, supply remains limited relative to the demand.
“We anticipate that 2025 will bring another robust market. However, it will be more balanced in certain housing styles and price points,” said Corinne Lyall, broker and owner of Royal LePage Benchmark.
“In the fourth quarter, inventory has increased in the higher-end of the single-family segment, while fewer listings in the lower rungs of the detached market have come online. Looking to next year, we anticipate that this trend will continue – supply will grow in all areas, with the exception of the lower end of the detached market, placing upward price pressure on this category.”
The report added that many Calgarians are also looking to Edmonton for cheaper real estate, which, in turn, is forecasting prices there to spike in 2025.
Lyall added that much of the price gains Calgary will see in 2025 will be supported by growth in the residential attached and townhome segment, which will attract first-time buyers given these property types’ relative affordability and size. The city may also continue to see younger buyers searching in other communities and cities beyond Calgary, where both home and rental prices can be less expensive.
Nationally, the report stated that the aggregate price of a home in Canada is forecast to increase 6% year-over-year to $856,692 by the fourth quarter of 2025.