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Calgary’s rapid population growth in recent years has helped drive strong demand for housing, but the resale market is now showing signs of moving toward more balanced conditions.
A recent analysis of population trends and housing activity found that Calgary experienced one of the highest population growth rates among major Canadian markets between 2023 and 2025, increasing by about 9 per cent. However, as the pace of growth begins to slow, pressure on the resale market has also eased.
The city’s sales-to-new-listings ratio, a key measure of housing demand compared with available supply, suggests a more balanced environment. A ratio in the mid-50 per cent range generally indicates that neither buyers nor sellers have a major advantage, marking a shift away from the highly competitive conditions seen in previous years.
Experts say the change reflects a return to more typical market conditions after a period of unusually strong demand and limited inventory. Increased housing supply, combined with steadier demand, has created more opportunities for buyers, particularly those entering the market for the first time.
Lower prices in some areas and improved negotiating power are helping attract more first-time buyers. However, conditions vary widely by neighbourhood and property type. Single-family homes in more affordable price ranges remain in high demand and limited supply, while condos and townhomes are seeing more available inventory, giving buyers additional choices.
Overall, Calgary’s housing market is transitioning from a period of rapid growth and intense competition toward a more stable environment, with different segments experiencing different levels of demand.