The Calgary condo market has gained significant attention in recent years, with rising demand for condos for sale, increasing inventory, and shifting price trends. Whether you’re looking for Calgary condos for sale, a penthouse for sale in Calgary, or townhouses for sale in Calgary, understanding the market’s performance compared to other major Canadian cities like Vancouver and Toronto can help you make an informed decision.
In this blog, we’ll dive into the Calgary condo market trends over the past three years, compare them to Vancouver and Toronto’s condo markets, and discuss what this means for buyers, sellers, and investors.
Calgary Condo Market: Steady Growth & Increasing Demand
Calgary’s condo market has seen a consistent upward trend over the past three years, fueled by a combination of affordability, strong economic growth, and increasing population migration. Unlike Toronto and Vancouver, where sky-high prices have led to a slowdown in sales, Calgary condos for sale remain more affordable while still experiencing strong appreciation.
Calgary Condo Prices & Inventory Trends
- As of early 2025, inventory levels for condos in Calgary rose by 70% compared to the previous year.
- The benchmark price for apartment-style condos reached $346,500, reflecting a 16% year-over-year increase.
- In August 2024, new listings for Calgary condos for sale hit a record high, providing more options for buyers.
Despite increased inventory, demand remains high, especially for downtown Calgary condos for sale and luxury condos for sale. This suggests that while more condos are entering the market, strong buyer interest is keeping prices stable or rising.
What does this mean for buyers?
If you’re looking for a condo for sale in Calgary, now is a great time to enter the market before prices rise further. New condos for sale in Calgary continue to attract both first-time buyers and investors.
How Does Calgary Compare to Vancouver’s Condo Market?
Vancouver’s condo market has been facing a slowdown, with prices showing signs of stagnation. While Metro Vancouver’s benchmark home price in early 2025 was $1,173,000, apartment condo prices declined by 1.7% year-over-year to $748,100.
Key Differences Between Calgary & Vancouver Condos:
| Market | Average Condo Price (2025) | Year-over-Year Change | Market Trend |
|---|---|---|---|
| Calgary | $346,500 | +16% | Growth & demand |
| Vancouver | $748,100 | -1.7% | Price decline |
Why is Vancouver’s condo market slowing?
- High interest rates are making it harder for buyers to afford mortgages.
- Investor uncertainty has reduced the number of pre-construction condo sales.
- Affordability concerns have pushed buyers to other cities like Calgary, where prices are more reasonable.
If you’re considering a luxury condo for sale in Vancouver, it may be wise to wait for further price adjustments or consider the Calgary market, where luxury condos and penthouses for sale in Calgary offer better value for money.
Toronto’s Condo Market: A Stalled Growth Story
Toronto’s real estate market, particularly its condo sector, has faced challenges due to rising interest rates, stalled new developments, and investor uncertainty.
Toronto Condo Market Snapshot (2024-2025)
- Condo sales in Toronto have slowed, with fewer new developments breaking ground.
- Many investors are waiting on the sidelines due to high borrowing costs.
- Housing supply concerns remain, with fewer new condos for sale entering the market.
In October 2024, reports showed that proposed condominium project sales in Toronto were at historically low levels, affecting future supply.
For buyers and investors looking for townhouses for sale in Calgary or condos for sale near me, Calgary presents a more attractive, stable alternative compared to Toronto.
Why Calgary’s Condo Market is More Attractive for Buyers & Investors
1. Affordability Compared to Vancouver & Toronto
Even though Calgary’s condo prices are rising, they remain far more affordable than those in Vancouver and Toronto. Whether you’re looking for a condo for sale in Calgary or a penthouse for sale in Calgary, you’ll get more space and better amenities for a lower price.
2. Increasing Inventory Means More Choices
Unlike Toronto and Vancouver, where limited inventory is a challenge, Calgary’s new condo developments are expanding the market. Buyers looking for new condos for sale in Calgary or Calgary townhouses for sale have more choices than ever before.
3. Strong Economic Growth & Job Opportunities
Calgary’s strong job market and economic opportunities are attracting more people, fueling the demand for downtown Calgary condos for sale and luxury condos for sale in Calgary.
4. A More Balanced Market
Calgary’s condo market offers a balanced environment where both buyers and sellers can benefit. Unlike the unpredictable price fluctuations in Toronto and Vancouver, Calgary provides a steady market with long-term growth potential.
Final Thoughts: Is Now the Right Time to Buy a Condo in Calgary?
If you’re looking for Calgary condos for sale, now is a great time to buy before prices rise further. Whether you’re interested in a condo for sale in Calgary, townhouses for sale in Calgary, or downtown Calgary condos for sale, the market offers strong opportunities for both first-time buyers and investors.
Thinking of Buying or Investing in a Calgary Condo?
📢 Explore the best condos for sale in Calgary! Contact me today at MyRealtorGill.com for personalized real estate advice and listings that match your needs.
