The Calgary Real Estate Board says home sales in the western Canadian city fell 9% year-over-year in August as high inventory levels continue to impact the market.
The real estate board announced that 1,989 homes were sold in Calgary during August compared with 2,182 sales made in August 2024.
There were 3,478 new listings on the market in August, down 1.7% from a year earlier as the city’s inventory grew 48.2% to 6,661 homes for sale.
The board says improved supply has “changed the dynamics of the Calgary market” by driving price declines, with the residential benchmark price falling 4.1% year-over-year to $577,200.
But the Calgary Real Estate Board said that recent price declines “have not offset all the gains that have occurred over the past several years.”
The most significant price declines have been for row houses and apartments, which have seen the largest gains in inventory levels.
In contrast, detached and semi-detached homes have seen modest price growth in some neighbourhoods of Calgary.
Canada’s housing market has struggled in recent years with high interest rates, a slowing domestic economy, and uncertainty caused by trade policies in the neighbouring U.S.
