Calgary Housing Market Report

Calgary housing market overview

• The average home price in Calgary was $609,058 — a 16.51% year-over-year increase.
• The median home price in Calgary was $556,500 — a 14.27% year-over-year increase.
• The benchmark home price in Calgary was $601,800 — a 6.33% year-over-year increase.
• The average detached home price increased 13.68% year-over-year to $804,811
• The average apartment price increased 14.13% year-over-year to $353,805
• The average semi-detached home price increased 12.72% year-over-year to $658,408
• The average row home price increased 11.14% year-over-year to $465,418

Table of contents

• Average Home Price Trends
• Important Market Metrics
• Historical Home Prices
• Home Price by Property Type

Average home price trends

The average home price across all property types in Calgary was $609,058. Home prices have increased 16.51% year-over-year compared to the average home price of $522,750 the prior year. The average home price across all property types saw a 0.4% month-over-month increased from the average home price of $606,657 the prior month. Here is how the average home price has changed across property types.

Read More: Toronto (GTA) Home Prices

Important Market Metrics

Sales

Total sales in Calgary were 2186 which is a -19.51% decrease from 2716 sales the prior year. Here is how the sales are broken down by property type:

• Detached: 1026 — a -14% Y/Y decrease
• Apartment: 604 — a -30.81% Y/Y decrease
• Semi-Detached: 172 — a -12.24% Y/Y decrease
• Row: 384 — a -15.42% Y/Y decrease

Inventory

The housing inventory this month is 2.05 months which is up from 1.75 months of inventory the prior month and 1.2 months the prior year.

Listings

Calgary had total new listings of 3536 which is a 13.01% Y/Y increase and -1.89% M/M decrease.

Sales-to-new-Listings Ratio

The sales-to-new listing ratio is an important metric as it helps us to understand the balance of supply and demand in the housing market which helps determine who has the majority of negotiating power in the housing market. The sales-to-new-listings ratio (SNLR) in Calgary was 61.82% in August 2024. The SNLR indicates a sellers market market with a SNLR ratio that is above 60%.

Home prices in Calgary

All property types

Single-family detached home prices in Calgary

Apartment prices in Calgary

Semi-detached home prices in Calgary

Row apartment prices in Calgary

Home prices across regions

Airdrie home prices

• Average home price: $559,900
• Median home price: $557,378
• Benchmark home price: $553,300

The average home price in Airdrie is $559,900 which is a 10.06% Y/Y increase or 6.65% Y/Y increase. Home sales in Airdrie were 172 which is a -15.69% Y/Y decrease. There is currently home inventory of 310 which is 1.8 months of inventory. The SNLR ratio in Airdrie is 71.07% which indiates a buyers market with a SNLR below 40%.

Chestermere home prices

• Average home price: $660,000
• Median home price: $674,423
• Benchmark home price: $703,200

The average home price in Chestermere is $660,000 which is a 29.74% Y/Y increase or -8.33% Y/Y decrease. Home sales in Chestermere were 71 which is a -65.2% Y/Y decrease. There is currently home inventory of 176 which is 2.48 months of inventory. The SNLR ratio in Chestermere is 0.582 which indiates a buyers market with a SNLR below 40%.

Rocky View home prices

• Average home price: $650,000
• Median home price: $890,877
• Benchmark home price: $648,700

The average home price in Rocky View is $650,000 which is a 27.78% Y/Y increase or -1.88% Y/Y decrease. Home sales in Rocky View were 149 which is a -26.96% Y/Y decrease. There is currently home inventory of 419 which is 2.81 months of inventory. The SNLR ratio in Rocky View is 0.6712 which indiates a buyers market with a SNLR below 40%.

Foothills home prices

• Average home price: $652,950
• Median home price: $736,187
• Benchmark home price: $640,100

The average home price in Foothills is $652,950 which is a 28.36% Y/Y increase or 4.06% Y/Y increase. Home sales in Foothills were 148 which is a -27.45% Y/Y decrease. There is currently home inventory of 267 which is 1.8 months of inventory. The SNLR ratio in Foothills is 0.7872 which indiates a buyers market with a SNLR below 40%.

Mountain View home prices

• Average home price: $479,100
• Median home price: $544,774
• Benchmark home price: $468,000

The average home price in Mountain View is $479,100 which is a -5.82% Y/Y decrease or 10.14% Y/Y increase. Home sales in Mountain View were 53 which is a -74.02% Y/Y decrease. There is currently home inventory of 148 which is 2.79 months of inventory. The SNLR ratio in Mountain View is 0.6543 which indiates a buyers market with a SNLR below 40%.

Kneehill home prices

• Average home price: $362,500
• Median home price: $368,990
• Benchmark home price: $260,500

The average home price in Kneehill is $362,500 which is a -28.74% Y/Y decrease or 19.05% Y/Y increase. Home sales in Kneehill were 10 which is a -95.1% Y/Y decrease. There is currently home inventory of 41 which is 4.1 months of inventory. The SNLR ratio in Kneehill is 0.4348 which indiates a buyers market with a SNLR below 40%.

Wheatland home prices

• Average home price: $445,100
• Median home price: $484,500
• Benchmark home price: $450,300

The average home price in Wheatland is $445,100 which is a -12.5% Y/Y decrease or -20.66% Y/Y decrease. Home sales in Wheatland were 40 which is a -80.39% Y/Y decrease. There is currently home inventory of 91 which is 2.28 months of inventory. The SNLR ratio in Wheatland is 0.8511 which indiates a buyers market with a SNLR below 40%.

Willow Creek home prices

• Average home price: $370,000
• Median home price: $389,330
• Benchmark home price: $332,300

The average home price in Willow Creek is $370,000 which is a -27.27% Y/Y decrease or 2.78% Y/Y increase. Home sales in Willow Creek were 37 which is a -81.86% Y/Y decrease. There is currently home inventory of 60 which is 1.62 months of inventory. The SNLR ratio in Willow Creek is 0.9487 which indiates a buyers market with a SNLR below 40%.

Vulcan home prices

• Average home price: $236,000
• Median home price: $312,759
• Benchmark home price: $335,400

The average home price in Vulcan is $236,000 which is a -53.61% Y/Y decrease or -3.67% Y/Y decrease. Home sales in Vulcan were 17 which is a -91.67% Y/Y decrease. There is currently home inventory of 37 which is 2.18 months of inventory. The SNLR ratio in Vulcan is 1.4167 which indiates a buyers market with a SNLR below 40%.

Bighorn home prices

• Average home price: $1,067,500
• Median home price: $1,337,046
• Benchmark home price: $1,056,700

The average home price in Bighorn is $1,067,500 which is a 109.85% Y/Y increase or -1.09% Y/Y decrease. Home sales in Bighorn were 32 which is a -84.31% Y/Y decrease. There is currently home inventory of 164 which is 5.13 months of inventory. The SNLR ratio in Bighorn is 0.4706 which indiates a buyers market with a SNLR below 40%.

Canada Housing Markets

See the housing markets in Canada broken down at a national, provincial and city level with the following reports

• Canada housing market report
• Calgary housing market report
• Edmonton housing market report
• Hamilton housing market report
• Markham housing market report
• Ontario housing market report
• Ottawa housing market report
• Toronto housing market report
• Vancouver housing market report
• Waterloo housing market report

source: CREB; CREB