Calgary home sales declined in May, largely due to a steep drop in apartment-condominium transactions.

Sales in the sector fell 36.2% to 579 units from 907 a year earlier, pushing overall residential sales down 17% compared to May 2024, said the Calgary Real Estate Board in its monthly report.

Despite the sharp year-over-year decline, the 2,568 homes sold in May 2025 exceeded long-term May averages by 11% and improved on April’s numbers.

Prices were mixed across property types, according to CREB. The total residential unadjusted benchmark price dipped slightly month-over-month to $589,900, which is more than 2% below the level from May 2024. Prices for detached and semi-detached homes remained stable and above 2025 values, while apartment and row-home prices recorded modest monthly declines. Condo prices in May fell to $335,300—down from April and more than 1% lower than in May 2024.

“Compared to last year, easing sales and rising inventories are consistent trends across many cities, as uncertainty continues to weigh on housing demand,” said Ann-Marie Lurie, Chief Economist at CREB. “However, prior to the economic uncertainty, Calgary was dealing with seller-market conditions, and the recent pullbacks in sales and inventory have helped shift us toward balanced conditions taking the pressure off prices.

Calgary’s situation differs from some other larger cities, where their housing markets were struggling due to the increased economic uncertainty, she added.