Ryan Hawkins - Calgary Realtor

The Calgary condo market that existed a year ago doesn't look the same today.

The data shows a clear shift.

Between 2021 and 2024, Calgary condo prices jumped about 31%. But by late 2025, prices dropped about 7% across the city. Some areas are down closer to 11%.

Here's what's happening at the same time:

All those buildings that got approved during the boom years are finishing now. More condos are hitting the market right when prices are falling.

Active inventory is up about 20% compared to last year. Sales are down about 28%.

Rents are also dropping. Down about $264 compared to last year. That changes the math for a lot of people.

The result? More units available, fewer transactions happening, and prices adjusting to match.

This isn't a crash. It's a correction. And understanding what's driving it matters whether you own a condo, know someone who does, or you're just trying to make sense of Calgary's housing market right now.

I put together a full breakdown that covers:

Why this is happening now
Which areas are seeing the biggest changes
What the data shows about supply, demand, and pricing
How this compares to what happened between 2014-2019