The Calgary Real Estate Board says home sales in February fell 19.3 per cent from last year but remained above typical levels for the month, as inventory levels continued to grow substantially.
The board says 1,721 homes changed hands last month, down from 2,132 a year ago, as the residential benchmark price rose to $587,600.
That was around one per cent higher than price levels seen in February 2024 and relatively stable compared to those reported at the end of last year.
There were 2,830 new listings on the market in February, up 4.4 per cent from a year earlier, as the city’s inventory reached 4,145 homes for sale.
Inventory was 75.6 per cent higher than in February 2024, the second straight month of large year-over-year supply gains, driven by substantial growth in apartments and townhouses priced under $500,000 up for sale.
The board’s president and CEO Alan Tennant says the seller’s market of the past two or three years is easing off, causing the pace of price growth to slow down.
Dreaming of owning a lavish new home?
Here are the city’s five most expensive already-constructed residential homes for sale as of March 3, 2025, according to Realtor.ca:
$8.8 million mansion in Crescent Heights
A newly listed home for sale in the community of Crescent Heights features a domed skylight that evokes the Frank Lloyd Wright–designed Guggenheim Museum in New York, N.Y.
Perched on Crescent Road and showcasing an expansive view of downtown Calgary, the home is 6,930 square feet.
It was built in 2004 and features four above-grade bedrooms (six in total) and seven bathrooms.
The listing describes the mansion as one of the most remarkable properties in Calgary.
“Designed with entertaining in mind, the grand foyer welcomes you with a striking Guggenheim-inspired glass dome ceiling, a gourmet kitchen complete with a sitting library (that) serves as a central hub, while the formal dining area and living room offer uninterrupted views, enhancing the home’s sense of openness and sophistication.”
The home also features a media room, gym and heated three-car garage.
Located at 102 Crescent Road N.W., the home has been listed for nine days.
$8.75M Montreal House in Upper Mount Royal
Built in 2015 by Calgary architect Jeremy Sturgess, “Montreal House” sits in the community of Lower Mount Royal.
The 4,062-square-foot mansion has five bedrooms, three of which are above grade, four bathrooms and an urban courtyard.
Outside the steel-frame home, 18 cantilevered beams provide shade from the sun for the west-facing windows.
“The house’s layout maximizes privacy with east-facing bedrooms that greet the morning sun, and a screened entry set back from the street,” states the listing.
The two-storey home is located at 1308 Montreal Avenue S.W.
The home has been listed on Realtor.ca for 255 days.
$7.25M Eagle Ridge bungalow
This gated home in Eagle Ridge sits on a sprawling double lot.
Built in 1971, the home has four above-grade bedrooms and one below grade, plus seven bathrooms.
“Once you step inside past the hand-chiselled walnut doors, you are greeted by a grand foyer that sets the tone for the splendor that awaits,” states the listing.
“The main rooms are nothing short of magnificent, boasting expansive dimensions and exquisite finishes.”
The home may be of interest to culinary enthusiasts due to its walk-in cooler, gas cooktop, double ovens and commercial-grade appliances.
“Whether you’re hosting a grand gala or preparing an intimate meal for loved ones, this culinary haven is sure to impress.”
The bungalow is located at 40 Eagle Ridge Place S.W.
It has been listed on Realtor.ca for 152 days.
$7M Upper Mount Royal mansion
Built in 2009, this Upper Mount Royal mansion features a swim-in-place lap pool with underwater treadmill, an elevator, a heated driveway and a theatre.
The home, described by the listing as private and secure, overlooks Cartier Park.
“This exceptional residence, seamlessly combines style and sophistication and luxurious amenities,” states the listing.
“The welcoming front entrance leads to a dramatic free-standing staircase, ascending to the main floor’s spacious living room, boasting sweeping views and a double-sided gas fireplace shared with a cozy family room.”
The home is 5,289 square feet with four bedrooms and six bathrooms.
The garage has room for five cars and includes a rotating platform and a Tesla electric charger.
Not only is the driveway heated, but so are the front stairs and the walkway.
The three-storey home is located at 2906 Marquette Street S.W.
It has been listed on Realtor.ca for 61 days.
$6.3M Bel-Aire bungalow
This Bel-Aire bungalow was built in 1972 and is more than 4,000 square feet.
It comes with three bedrooms (and three below grade) plus seven bathrooms and two partial baths.
According to the listing, the main level of the home offers a blend of “elegance and comfort,” featuring a spa-quality en suite bathroom.
In the basement, there’s a wine cellar and a theatre.
The single-storey home is located at 1020 Bel-Aire Drive S.W.
It has been listed on Realtor.ca for 220 days.
- With files from The Canadian Press
