Calgary home sales slip in June as migration pullback dampens demand

Calgary's resale housing market continued to cool in June, with the Calgary Real Estate Board (CREB) recording 2,197 transactions. That's down 3.8% from the same month last year and just below the long-term June average.

The citywide residential benchmark price fell 2.1% year-over-year to $572,500, as slowing population growth reshapes demand across nearly every property type.

"The easing of demand for resale homes does not come as a surprise given the recent decline in migration, which is impacting both rental and ownership demand for higher-density homes," said Ann-Marie Lurie, chief economist at the Calgary Real Estate Board.

Government of Alberta data cited by Lurie shows a modest net provincial population increase of roughly 5,000 people between October and January, a marked deceleration from earlier boom-era growth, with international migration contracting.

Statistics Canada's Q4 2025 demographic estimates corroborate the trend, placing Alberta's net interprovincial gain at 3,684 people in that quarter, down from 4,993 a year earlier.

Brokers tracking signs of strain in Calgary's housing market say the data aligns with conditions they have been observing on the ground since late 2025.

Apartment sector bearing the heaviest load

The sharpest deterioration is concentrated in the apartment condominium segment. June benchmark prices for apartment-style units fell nearly 9% year-over-year to $299,000, with months of supply sitting at approximately five months and a sales-to-new-listings ratio of 45%, both firmly in buyer's market territory.

Year-to-date apartment sales are down 27%, compounding a 28% decline recorded between 2024 and 2025. Row-style properties have also struggled, with the benchmark price dropping 5.5% year-over-year to $424,100 and year-to-date sales off close to 16%.

Detached market holds firmer — but price remains decisive

Calgary's detached segment offered relative stability in June, with the benchmark price easing just 1.4% year-over-year to $750,500.

Roughly three months of supply kept conditions broadly balanced across the city, and Calgary's detached home sales showed signs of tightening earlier this year, a divergence from the broader market that has persisted into summer. Semi-detached benchmark prices edged 0.2% higher year-over-year to $694,600.

New listings fell 7.7% year-over-year to 3,899 in June, while total inventory declined 2.1% to 6,799 units. The pullback in new supply pushed the sales-to-new-listings ratio to 56%, slowing the pace of inventory accumulation.

Regional markets reflect the same two-speed dynamic

Conditions in Calgary's surrounding communities broadly mirror the city's divergence by property type, with higher-density supply weighing more heavily on some centres than others.

In Airdrie, year-to-date sales are down 14% compared with 2025, and rising inventory pushed months of supply above four months in June.

The unadjusted benchmark price was $516,900 in June, up slightly from the previous month but nearly 4% below a year earlier, with larger declines recorded in higher-density property types.

CREB noted that increased competition from neighbouring new home markets has compounded resale pressure in the area.

Cochrane presented a more resilient picture. Year-to-date sales of 569 units were marginally ahead of last year's pace, and the sales-to-new-listings ratio remained above 60% in June.

Inventory eased slightly to 323 units, keeping months of supply just above three months. The benchmark price of $580,200 was less than 2% below year-earlier levels, with five consecutive months of monthly price gains reflecting the impact of comparatively tighter supply.

Okotoks showed the tightest conditions of the three satellite communities. With 89 new listings and 70 sales in June, the sales-to-new-listings ratio reached 79%, halting any further inventory accumulation.

Supply remains below long-term trends, particularly for detached homes, which has helped keep pricing stable despite broader softening across the region. The unadjusted benchmark of $618,600 was less than 2% below last June.

CMP

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