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Housing Price Report: Calgary Market Report – Q3 2025

Today, Royal LePage® released its Q3 2025 House Price Survey. Below are highlights from the report for the Calgary, Alberta, housing market.

  • In Calgary, the aggregate[1] home price remained flat, decreasing just 0.6% year over year to $694,200 in Q3 2025, and dipped 0.3% from Q2 2025.
  • The median price of a single-family detached home increased 1.1% year over year to $808,300.
  • The median price of a condominium decreased 3.0% year over year to $265,900.
  • Royal LePage is forecasting that the aggregate price of a home in Calgary will increase 1.5% in the fourth quarter of 2025, compared to the same quarter last year. The previous forecast has been revised down modestly to reflect current market conditions.

October 15, 2025 – “Calgary’s housing market is showing signs of moderation this fall, with activity easing compared to last year’s exceptionally strong performance. Still, sales volumes are strong compared to long-term averages,” said Corinne Lyall, broker and owner, Royal LePage Benchmark. “Prices have remained mostly flat, with only a modest uptick from the previous quarter, and conditions overall reflect a move towards a healthier, balanced market, leaning slightly in favour of sellers. Single-family detached homes remain competitive, while the condominium segment has shifted more firmly toward buyers, as supply builds and investor demand softens.”

Lyall noted that recent interest rate cuts have improved consumer confidence, though they have had little impact on pricing so far.

“Lower borrowing costs have been a welcome relief for those with variable-rate mortgages or upcoming renewals. First-time buyer activity has held steady, while sellers are beginning to adjust their expectations, recognizing that today’s market is very different from what we experienced in 2023 and 2024. Buyers, meanwhile, are taking advantage of increased choice and approaching the market at a more deliberate pace,” added Lyall. “Looking ahead, I expect steady balanced activity through the fall market.”

Nationally, the aggregate price of a home in Canada recorded virtually no change in the third quarter of 2025, increasing just 0.1 per cent year over year to $816,500. However, on a quarter-over-quarter basis, the national aggregate home price posted a decline of 1.2 per cent, driven by depreciation in many major markets across the country over the summer.

“Canada’s housing market is shifting toward balance, as easing prices, rising listings and renewed rate cuts improve affordability across most regions,” said Phil Soper, president and CEO, Royal LePage. “For the first time in years, buyers – especially in previously supply-strapped markets – have real choice and negotiating power. With confidence returning and further rate reductions expected into early 2026, we anticipate noticeably stronger activity by the spring.”

Following a slower-than-usual start to the year, home sales picked up late in the spring and have consistently increased over the last five months, according to the Canadian Real Estate Association (CREA).[2]

“Affordability is improving and the economic backdrop remains remarkably stable, yet consumer confidence is lagging,” said Soper. “Many buyers remain hesitant – some worried about broader economic uncertainty, others waiting to see if prices dip a little further before stepping in.”

The Royal LePage National House Price Composite is compiled from proprietary property data nationally and regionally in 64 of the nation’s largest real estate markets. When broken out by housing type, the national median price of a single-family detached home increased 1.2 per cent year over year to $860,600, while the median price of a condominium decreased 1.6 per cent to $580,700. On a quarter-over-quarter basis, the median price of a single-family detached home and a condominium declined 1.1 and 1.9 per cent, respectively. Price data, which includes both resale and new build, is provided by RPS Real Property Solutions, a leading Canadian real estate valuation company.

Compared to the peak of pandemic pricing in the spring of 2022, national home prices have come down by approximately five per cent, driven by depreciation in the urban centres of Toronto and Vancouver, where prices are currently sitting more than 12 per cent below the peak. Meanwhile, home prices have continued to appreciate in Quebec, the Prairies and Atlantic Canada.

“Buyer sentiment is being influenced by a complex mix of economic and psychological factors,” said Soper. “Despite materially improved affordability in major cities, many Canadians – particularly younger ones – remain cautious amid high post-pandemic living costs, perceived job uncertainty, and general unease about our economic prospects. It’s understandable that some are waiting before making such a significant purchase.”

Royal LePage is forecasting that the aggregate price of a home in Canada will increase 1.0 per cent in the fourth quarter of 2025, compared to the same quarter last year. The previous forecast has been revised down to reflect price depreciation across Ontario and British Columbia, and slowing growth in other major markets. 

Royal LePage House Price Survey Chart: rlp.ca/house-prices-Q3-2025  
Royal LePage Forecast Chart: rlp.ca/market-forecast-Q3-2025   

 

[1] Aggregate prices are calculated using a weighted average of the median values of all housing types collected. Data is provided by RPS Real Property Solutions and includes both resale and new build.

[2] Canadian Home Sales Post Best August in Four Years, September 15, 2025