Here's how much Calgary housing prices are expected to increase by the end of 2025

Real estate sale signage is shown on a street in Oakville, Ont., west of Toronto, on Thursday, Nov.7, 2024. (THE CANADIAN PRESS/Richard Buchan)

Calgary’s real estate prices are expected to continue to increase next year, according to a recent market forecast.

The aggregated price of a home in Calgary is forecast to rise four per cent to $728,104 – up from an estimated $700,100 – by the fourth quarter of 2025, according to Royal LePage’s 2025 Market Survey Forecast.

Corinne Lyall, broker and owner of Royal LePage Benchmark, said that after a busy year in 2024, the market has begun to stabilize.

“Inventory has risen from extreme lows to levels not seen in nearly two years, although supply remains limited relative to the steady stream of demand,” Lyall said in a Thursday press release.

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“We anticipate that 2025 will bring another robust market. However, it will be more balanced in certain housing styles and price points.”

For detached single-family homes, prices are expected to increase slightly more, up 4.5 per cent to $836,000 – up from an estimated $800,000 in the fourth quarter of 2024.

Condominiums are also forecast to see a modest two per cent increase to $278,154 by the end of 2025 – up from $272,700 currently.

“In the fourth quarter, inventory has increased in the higher-end of the single-family segment, while fewer listings in the lower rungs of the detached market have come online,” Lyall said.

“Looking to next year, we anticipate that this trend will continue – supply will grow in all areas, with the exception of the lower end of the detached market, placing upward price pressure on this category,” Lyall said.

Among the major markets included in the survey, aggregated housing prices in Calgary are tied for some of the lowest increases at four per cent, along with Greater Vancouver, Ottawa, Halifax and Winnipeg.

Calgary landed with the fourth highest home prices among the cities surveyed.

The full list of forecasted aggregated prices and their increases by Q4 2025 includes:

• Greater Vancouver Area: $1,271,712, +4.0 per cent;
• Greater Toronto Area: $1,225,770, +5.0 per cent;
• Ottawa: $803,712, +4.0 per cent;
• Calgary: $728,104, +4.0 per cent;
• Greater Montreal Area: $655,082, +6.5 per cent;
• Halifax: $532,064, +4.0 per cent
• Edmonton: $494,860, +9.0 per cent;
• Quebec City: $442,113, +11.0 per cent;
• Regina: $432,247, +9.0 per cent; and
• Winnipeg: $417,040, +4.0 per cent.

The survey suggests that the increases will be supported by growth in the residential attached and townhome house types, due to the attractiveness to first-time buyers due to their relative affordability and size.

However, younger buyers may continue to search for homes in communities outside of Calgary, where prices can be less expensive.

“We have witnessed an improvement in consumer confidence over the last six months, as interest rates have come down. With borrowing costs likely to continue declining through the first half of 2025, we expect this will bring more buyers to the market,” said Lyall.

“Increased borrowing power will also prompt some sellers to list their homes, allowing them to upgrade their living space and opening up inventory in the entry-level segment.”

Across the country, Royal LePage is forecasting a national increase of six per cent year-over-year – up to $856,692.

The report notes, however, the changeover to the incoming Trump administration in the United States and a possible federal election in Canada could alter the state of the housing market.

“While these impacts may take time to unfold, they could eventually affect consumer confidence and market dynamics on both sides of the border,” said Phil Soper, president and chief executive officer of Royal LePage.