If you’re a first-time homebuyer contemplating buying a home in Calgary right now, the market likely feels different from what it did even just a few years ago. 

Between 2022 and 2024, rapid price growth, combined with bidding wars and limited inventory, pushed many entry-level buyers to the sidelines.

In 2026, however, conditions have shifted. Inventory has expanded, urgency has cooled, and negotiation dynamics have changed. Along with that, new government and builder incentives are helping reduce the initial burden of purchasing a new home. 

That does not mean homes are suddenly inexpensive; rather, sellers’ leverage in past years has normalized as more options have become available, potentially giving first-time buyers more negotiation power. 

In this month’s blog, we break down what that shift actually means and where first-time buyers may have more room to operate than they realize.

What Does a Balanced Market Mean for First-Time Buyers?

Simply put, a balanced market is one in which supply and demand are better aligned. Sellers no longer dictate terms unilaterally, so buyers are not forced into immediate, competitive decisions with other would-be buyers.

For first-time buyers, that translates into structural breathing room:

• More listings within entry-level price bands

• Fewer multiple-offer situations

• Greater ability to include financing and inspection conditions

• More time to evaluate neighbourhoods and property types

Generally speaking, balanced markets do not mean dramatic price corrections. But they do reduce pressure, which improves decision quality and increases negotiating power, giving first-time buyers more confidence and security in their choices.

How Inventory Expansion Is Reshaping the Entry-Level Landscape

For many potential first-time buyers who felt boxed out of the detached and semi-detached market segments, Calgary’s current supply dynamics are particularly relevant today.

During the peak of the market a few years ago, there were periods when fewer than 30 detached homes were available under $500,000. Today, there are approximately 145 homes in that price range. 

To be clear, inventory growth does not guarantee falling prices. It reduces urgency and increases optionality. So, it’s not that home prices have “come down” substantially, but there are more choices in lower price ranges where there simply wasn’t selection before, and prices are stabilizing. 

In other words, increased entry-level inventory creates access to more affordable homes that simply did not exist during tighter cycles. 

Why New Construction Is Back in the Conversation

It’s essential to note that the recent inventory expansion is not being driven exclusively by resale activity.

Over the past two years, Calgary experienced one of the strongest construction cycles in recent history. According to CMHC housing starts data, in 2025 alone, the city recorded more than 26,000 housing starts. Many of those projects are now nearing completion and will move into active inventory in 2026. 

Additionally, government incentives such as GST rebates on qualifying new builds, combined with builder incentives in a more competitive environment, are increasing the appeal of new construction. For some buyers, the decision is no longer between renting and resale. It is rent versus purchasing a brand-new home at a comparable monthly cost.

This combination of stabilized pricing, expanded resale inventory, and new supply coming online is creating opportunities for prepared buyers who were previously sidelined by limited options.

It is important to separate leverage and increased choice from ease and affordability. Even in a city like Calgary, where benchmark prices are lower than in Toronto or Vancouver, affordability remains a meaningful constraint.

Why Leverage and Choice Do Not Mean Affordability Is Easy

When considering a first-time home purchase, it is important to distinguish between leverage and increased choice, and between ease and affordability. Even in a city like Calgary, where benchmark prices are lower than in Toronto or Vancouver, affordability remains a meaningful constraint.

Interest rates, qualification stress tests, and down payment requirements demand disciplined planning. More inventory and negotiation power do not eliminate financial responsibility.

Before acting, first-time buyers should carefully evaluate:

• Whether their monthly carrying costs remain comfortable after accounting for property taxes, insurance, utilities, and maintenance

• How their mortgage payment performs under higher rate scenarios

• Whether they will maintain adequate emergency reserves after closing

• The true cash required beyond the down payment, including legal fees, inspections, and adjustments

• If their minimum time horizon in the property is ideally four to five years or longer

• The long-term resale prospects of the specific property type and neighbourhood

Property Segment Differences Matter More Than Ever

Calgary’s recent inventory expansion is not evenly distributed across all segments. Higher-density housing, particularly condos and some rowhome districts, has experienced more meaningful supply growth than detached and semi-detached homes.

This imbalance in supply has led to larger price corrections in certain condo segments than in detached and semi-detached homes. For many first-time buyers, lower price points and increased negotiation flexibility make condos feel like an accessible entry strategy. And for some buyers, they can be.

However, first-time buyers should approach these segments with a clear understanding of long-term performance patterns. 

Historically, in Calgary, land-based properties such as detached and semi-detached homes have demonstrated stronger long-term resilience, while condo inventory has expanded more quickly during active construction cycles, thereby moderating price appreciation.

This does not mean condos are inappropriate by default. But it does mean buyers should avoid treating them as a guaranteed stepping stone to future detached home ownership, even in the long term.

First-time buyers considering a condo should enter with a longer time horizon, realistic appreciation expectations, and a clear understanding that short- or long-term gains have not historically been supported in higher-supply segments.

Final Thoughts: Structural Opportunity, Not Speculation

We should remember, Calgary’s 2026 market is not distressed; it’s normalizing. 

For first-time buyers who felt boxed out during tighter cycles, increased inventory and reduced competition create structural breathing room. That breathing room allows for negotiation, due diligence, and strategic entry.

The opportunity is not about predicting price spikes or market bottoms. It is about recognizing when pressure eases enough to make rational decisions aligned with your long-term goals and financial position.

If you are considering your first purchase, we can walk through your numbers, preferred property types, and time horizon together. 

The goal is not urgency. It is clarity.

Whether you’re upsizing, downsizing, or relocating, one of the most significant questions we help clients answer is: Should I buy my new home first, or sell my current home before shopping the market?

With over 25 years of combined experience navigating Calgary’s dynamic real estate landscape, we can confidently say that there’s no one-size-fits-all approach. Instead, the right decision comes down to each client’s financial position, timelines, needs, risk tolerance, and — most importantly — the current market conditions.

Let’s walk through the pros and cons of each strategy to help you determine which might be the best fit for your situation.

Buy First, Then Sell - When It Works

A buy-first strategy often makes sense in tight markets, where competition is high, inventory is low, and finding the right home takes time.

Benefits of buying first:

• You only move once. Buying first allows you to avoid the disruption and cost of temporary housing between transactions.

• You have time to find the right property. Without the pressure of an imminent possession date, you can focus on finding a home that truly meets your needs.

• You can use the “Sale of Buyer’s Home” (SOBH) condition. This lets you make an offer that’s conditional on the sale of your current home, giving you valuable breathing room between buying and selling.

Despite the benefits of buy-first strategies, there are some drawbacks to consider:

• Mortgage qualification is key. You'll need to be pre-approved for financing without a firm sale on your current home—something not every buyer can qualify for.

• Budget uncertainty. Without knowing precisely what your current home will sell for, it’s harder to set a confident budget for your next purchase.

• Potential for double mortgage payments. If your home doesn’t sell promptly, you may be juggling dual mortgage payments, adding stress and urgency to reduce your list price for a quicker sale.

• SOBH condition offers can be less attractive to sellers. These are seen as riskier by sellers and typically include a 48- to 72-hour “escape clause,” allowing sellers to accept stronger backup offers. In competitive markets, this condition can reduce your negotiating power.

Sell first, Then buy - Playing it Safe

Selling your home first is typically the more conservative approach, especially in buyer-heavy markets where homes can take longer to sell and new listings are more abundant.

Benefits of selling first:

• You know your exact budget. With a firm sale, you’ll know how much you can spend, helping you shop with confidence and clarity.

• Stronger position. Offers without sale conditions are more attractive to sellers, giving you an edge in negotiations.

• Reduced financial risk. No double mortgage payments, and less likelihood of buyer’s remorse from making a rushed decision under pressure.

As with buy-first strategies, sell-first approaches also come with drawbacks we like homebuyers to be aware of before choosing a strategy that’s right for them:

• Timing pressures. Even if you ask for a longer possession (60–90 days is typical), when you sell your home, there’s still a risk you won’t find the right home in time.

• Temporary housing may be needed. If the perfect home doesn’t appear within your time frame, you might need to bridge the gap with a short-term rental or Airbnb. It’s good to have a backup plan in place before you sell, along with an estimate of how much temporary housing will impact your overall budget.

• You may feel rushed. The pressure of a deadline can lead buyers to compromise on essentials, such as location, home size, or features, sometimes resulting in regrets.

Our Advice: Let the Market Guide You

At TB Real Estate Team, our guiding philosophy is generally: Do the more complicated transaction first.
If current market conditions make it harder to find a home, consider buying first and preparing your existing property for a smooth sale.

If your inventory is high and you anticipate that your home may take longer to sell, then consider selling first. You’ll have more options and be in a stronger position when it comes time to buy.

Remember, there’s no “right” answer, only the right strategy for you, depending on your situation and circumstances.
If you’re unsure, we’re here to help. With decades of experience in both hot and balanced markets, we’ll walk you through your options, connect you with trusted mortgage advisors, and create a plan that protects your finances — and your peace of mind.

Reach out to start the conversation.

As the Calgary real estate market shifts toward more balanced conditions, where supply and demand are more even and prices remain relatively stable, it’s increasingly essential that sellers go the extra mile to stand out in the minds of potential buyers.

Fortunately, you don’t need to invest in major renovations to make your home more appealing. By focusing on strategic upgrades and smart presentation, you can maximize your home’s value and attract serious buyers.

Here are some strategies to help you get your home market-ready and make a lasting impression.

Maximize ROI with smart upgrades

Think of selling a home like selling a car.

You wouldn’t replace the engine or repaint the entire body before selling. Instead, you’d ensure it’s spotless and appears well-maintained by having it detailed and fixing minor deficiencies like a cracked windshield or burned-out headlight.

The same logic applies to your home: focus on cost-effective improvements that maximize value without over-investing in areas that may not provide a strong return.

Paint touch-ups

Paint is one of the most affordable yet impactful upgrades. If you have darker walls, consider transitioning to Alabaster paint colour from Sherwin Williams for a warm and welcoming feel or Snowbound for a cooler, modern tone.

Flooring Repairs or Replacement

If your floors are worn or outdated, refinishing hardwood is an excellent option. Interestingly, the cost of refinishing hardwood is often comparable to installing mid-grade luxury vinyl plank (LVP), which is a highly durable and stylish choice that’s popular with families and pet owners.

Kitchen Upgrades

The kitchen is a major selling point, and small changes can make a big difference. If painting isn’t feasible, consider swapping outdated hardware for neutral, modern options that can provide a quick refresh.

Lighting

Lighting is like the jewelry of your home and plays a crucial role in its ambiance. Swapping outdated fixtures for modern designs adds elegance without a significant investment. Affordable lighting fixtures from Amazon can give your home extra charm, and replacing outdated dome lights with LED disc lights is an easy upgrade that makes a big impact.

Create a showhome feel to attract buyers

Buyers want to envision living in their new home — not stepping into someone else’s old home. Creating a clean, neutral, and hotel-like environment, similar to what you might do if you were renting your home on AirBnb, helps potential buyers visualize their future in the space.

Deep clean 

A thorough cleaning can dramatically improve your home's presentation. Clean interior appliances and cabinet interiors, dust lighting fixtures and all surfaces to create a fresh, inviting feel.

Declutter and pre-pack 

Removing excess items helps buyers envision themselves in the space. Decluttering or pre-packing personal items enables you to prepare for your move and offers a clean slate for potential buyers to picture themselves in the home.

Neutral design and decor

Replace personalized photos with neutral artwork to appeal to a broader audience. Crisp bedding, white towels, and fresh linens create that welcoming, hotel-like feel.

Boost curb appeal for a memorable first impression

It’s easy to focus your attention on the inside of your home and forget buyers form their first impression the second they pull up to the driveway.

This is especially important in Calgary’s spring real estate market, when buyers see homes as the snow is melting and imagine how they’ll use or enjoy outdoor spaces in the summer.

Do a spring clean-up

A tidy yard makes a strong first impression. Raking leaves, trimming bushes, and freshening garden beds can make your home feel inviting before buyers even step inside.

Stage Outdoor Spaces

If you have outdoor seating or standout features, consider adding potted plants or fresh cushions to showcase your outdoor space’s potential. Also, ensure fences, railings, and exterior lights are clean and in good repair.

Final thoughts

As Calgary’s real estate market shifts to balanced conditions, sellers must focus on strategic improvements to attract buyers.

By investing in minor repairs, creating a clean and inviting atmosphere, and enhancing your home’s curb appeal, you can make your property stand out and secure the best possible sale price.

If you're preparing to sell, partnering with an experienced real estate professional can provide the guidance you need to navigate Calgary's evolving market with confidence.

Don’t hesitate to contact our team for advice and help getting started!

Finding the right school for your children is one of the most important decisions you’ll make as a parent and can significantly influence where you choose to live.

As a family-friendly city recently ranked by the Economist Group as one of the world’s most desirable places to live based on high scores in health care, safety, and education, Calgary offers a variety of top-tier schools, including public, private, and charter institutions. Each option provides unique advantages depending on your family’s educational and real estate priorities.

Whether you’re moving to Calgary, relocating within the city, or looking to be closer to a specific school, this guide will help you navigate your options and make the best choice for your family.

Understanding Calgary’s School Options

Here in Calgary, we’re fortunate to benefit from multiple schooling options, which, though potentially overwhelming to newcomers or first-time school parents, provide valuable and diverse choices for families.

Public Schools

Calgary’s public school system is known for its strong academics and program variety. Public school eligibility is typically determined by catchment areas, which define geographical boundaries for enrolment.

While all public schools are managed by the Calgary Board of Education (CBE), it’s essential to note that differences exist between schools depending on the school’s administration and values, teachers, and parent and community involvement.

 Additionally, parents may also apply for specialized public schools outside their designated catchment areas, including:

French/Spanish Immersion – Bilingual programs available from elementary school onward.
Alternative Programs – Focus areas such as arts, science, or Montessori-inspired learning.
International Baccalaureate (IB) & Advanced Placement (AP – Rigorous academic programs designed to prepare students for university.

Catholic Schools

Managed by the Calgary Catholic School District (CCSD), Catholic schools provide families the option to pursue a faith-based education with high academic standards. CCSD schools offer enriched learning opportunities, including Advanced Placement (AP) courses.

While, like the CBE, they accept students from outside attendance areas, priority is given to Catholic students and those living within designated boundaries.

Charter Schools

Calgary is also home to several charter schools, which are publicly funded but independently run by non-profit organizations and are not religion-based.

While they follow Alberta’s provincial curriculum, charter schools have greater autonomy in teaching methods and educational philosophies. Unlike most public schools, charter schools generally accept students from anywhere in the city and are a more affordable alternative to private education.

Private Schools

Calgary’s many private schools offer a tailored educational experience, often featuring smaller class sizes, specialized curriculums, and unique teaching methodologies. While private school enrolment is not dependent on location, tuition costs and admission requirements vary.

Considering Your Family’s Preferences and Needs

Choosing the right school goes beyond academics—it impacts your daily routine, where you may choose to live, and long-term family goals.

For example, if you feel strongly about your child attending a high-ranking public school, being able to walk to and from school, and building friendships in your local community, then deciding what area to buy a home in will be significant. In this case, you should sufficiently research public schools as part of your home search process. Also, remember that homes in desirable public school catchment areas often have higher property values and strong resale potential.

 Alternatively, if your child will attend a private or charter school, the quality of the neighbourhood's public schools may be less of a factor in your decision. You may instead focus on home size, amenities, and commuting distance to your chosen school.

Other factors we advise all families to consider include:

Commute times – Will your child’s daily school commute be manageable?
Future flexibility – Are you prepared for possible school changes as your child grows?
Multiple children – Will all your children attend the same type of school, or will you need options for different educational needs?

Do Your Due Diligence

Balancing your housing needs with your child’s education can feel overwhelming. But when you have a clear understanding of Calgary’s school system and your family’s needs, you can make an informed decision while avoiding some common pitfalls.

Double-Check Before You Buy

Never assume buying a home in an area guarantees admission to a specific school. Even with public schools, always verify your child’s eligibility with your school of choice. Conversely, if there’s an alternative public school you want your child to attend, you may not need to live in the area for them to go there.

If possible, try things on for size

When making a move, not everyone has the luxury of time. But if you’re moving to Calgary from another city and have the option to rent before buying, this can help you ensure a school or neighbourhood you’ve researched is right for your family before committing to buying there.

On the other, if you’re contemplating moving closer to a desired charter or private school to reduce commute times, consider giving your child a year or two there to ensure the school is a fit.

 If you’re moving within the city to be close to a specific school, schedule a meeting with the principal and tour the school.

Plan for the Future

Children’s educational needs—and family real estate needs—can evolve over time. Avoid overextending financially just to live near a specific school, especially when good alternative options exist.

Be mindful of compromising on home features, location, and long-term resale value when deciding to send your child to a charter or private school they’ve yet to attend.

In Summary

Moving with children involves many decisions, and school choices play a significant role in where you choose to live. By understanding Calgary’s school system and aligning your home search with your family’s priorities, you can make a confident and informed decision.

If you need expert real estate advice tailored to your family’s educational needs,

School Resources

Here are some school resources and links to schools with notable reputations in each above-mentioned category. Please keep in mind this list is not exhaustive and that rankings change from year to year.

Popular Public Elementary Schools

Sunalta School (Community: Sunalta – SW Calgary): Known for its exceptional academic programs and focus on holistic learning, Sunalta School is highly regarded for fostering a supportive and enriching environment for elementary students.

Auburn Bay School (Community: Auburn Bay – SE Calgary): Located in the family-friendly community of Auburn Bay, this school provides a vibrant atmosphere that emphasizes student engagement and community involvement.

Brentwood School (Community: Brentwood – NW Calgary): With a strong focus on academic excellence and community values, Brentwood School offers a nurturing and dynamic environment for young learners.

Chris Akkerman School (Community: Marlborough – NE Calgary): Located in Marlborough, Chris Akkerman School is renowned for its academic programs and dedication to creating an inclusive and supportive learning environment.
Popular Catholic Elementary Schools.

St. Joan of Arc School (Community: West Springs – SW Calgary): A well-loved K-9 school in West Springs, known for its close-knit community and nurturing environment, with a strong focus on academic and spiritual growth.

St. Isabella School (Community: Auburn Bay – SE Calgary): Located in Auburn Bay, St. Isabella is known for its strong academic and faith-based education, creating a supportive, value-centered environment for elementary students.

St. Luke School (Community: Brentwood – NW Calgary): Situated in Brentwood, St. Luke School is celebrated for its academic programs, active parent community, and supportive learning environment for younger children.

St. Rita School (Community: Rundle – NE Calgary): Found in the northeast community of Rundle, St. Rita School is known for its dedicated staff and strong focus on values-based education, creating a supportive and nurturing atmosphere.

Popular Charter Schools

Westmount Charter School (Community: University Heights – NW Calgary): Specializes in meeting the needs of gifted learners from Kindergarten through Grade 12, offering an enriched curriculum.

Foundations for the Future Charter Academy (FFCA) (Multiple Campuses): Provides a traditional learning environment with a focus on academic excellence and character development, serving students from Kindergarten to Grade 12.

Calgary Arts Academy (Community: Glenbrook – SW Calgary): An innovative public charter school that engages children through arts immersion to become confident learners and spirited citizens.

Connect Charter School (Community: Lakeview – SW Calgary): Focuses on inquiry-based learning, integrating technology and outdoor education for students in grades 4-9.

Popular Private Schools

Strathcona-Tweedsmuir School (Community: Okotoks – South of Calgary): An independent K-12 school offering the full International Baccalaureate (IB) program, emphasizing academic excellence and character development.

West Island College (Community: Acadia – SE Calgary): A co-educational private school for grades 7-12, known for its rigorous academic programs and leadership development opportunities.

Webber Academy (Community: Aspen Woods – SW Calgary): Serving Junior Kindergarten to Grade 12, Webber Academy focuses on academic achievement and personal growth within a supportive environment.

School Rankings & Reviews

Fraser Institute School Rankings – Annual rankings of Alberta schools.
Alberta Education - Find a School – Official school search tool.
Our Kids - Calgary Private Schools – Private school directory.

Purchasing a brand-new home is always an exciting prospect. And, as many new home development projects started in 2022-23 reach completion this year, buying a newly built home is likely top-of-mind for many Calgary buyers in 2025.

Yet, while the chance to start afresh in a new home equipped with the latest design technologies and new home warranty coverage has undeniable allure, like any significant decision, it’s essential to consider all the available information and determine whether it’s the right choice for you.

In this month’s blog, we’ve outlined the pros and cons of buying new and highlighted an alternative option if you’re keen to get the best of both worlds.

Nothing like that new home feel

There’s no question that nothing beats the joy of moving into a new home that’s truly your own, ready to be filled with memories.

Buying new means you can select or build a home that’s exactly what you or your family wants or needs and customize design features to your tastes and preferences.

But that’s not all. Here are some of the other advantages of buying new:

1. Modern design and finishings : New homes feature contemporary designs, open floor plans and trending finishes that enhance modern lifestyle and resale appeal.

2. Energy Efficiency : Modern building codes require new homes to meet higher energy efficiency standards. Features like better insulation, energy-efficient windows, potential options for solar panels, and high-efficiency appliances can reduce utility costs and environmental impact.

3. Low Maintenance Costs : From a brand-new roof and appliances to your HVAC system, maintenance costs are minimal in the early years of new home ownership.

4. Warranty Protection : New homes come with builder warranties that cover structural defects, major building systems, and even appliances for a specified period. These warranties provide a significant financial safety net and peace of mind.

5. Smart Home Technology : Many home builders outfit their homes with the latest smart home features, including programmable thermostats, security systems, and energy monitoring tools that make everyday life easier.

The grass isn’t all greener

Despite the many advantages, buying a brand-new home isn’t without considerations and compromises. First, brand-new homes typically come with a premium price tag, where buyers pay more simply for the prestige of buying new.

Secondly, even if you’re not discerning about the home builder you use, the neighbourhood you choose, and what is included in your contract, many of the aforementioned pluses of buying a new home can have their downsides.

Here are some essential items to consider if you’re thinking of buying new:

1. Unproven systems & Warranty Issues: While new systems and appliances are under warranty, plumbing, electrical and HVAC systems have not been tested through regular use. Issues may arise after the warranty expires, or builders may deem specific problems are not covered by the under warranty, leaving homeowners with unexpected costs.

2. Quality of Construction: A new home’s walls may look shiny and new, but it’s hard to see the quality behind the walls. Low barriers to entry for boutique home builders in Calgary and the desire to produce low-cost homes can lead to quality control issues. When buying new, it’s essential to do your homework and find a builder with a quality reputation that you trust.

3. Construction Delays: If you’re purchasing a home still under construction, delays due to weather, supply chain issues, or labour shortages are not uncommon and can postpone your move-in date.

4. Neighbourhood Development: In new developments, neighbourhoods may take years to mature fully. Early buyers may have to deal with ongoing construction and incomplete amenities, such as a lack of schools or sparse landscaping.

5. Additional Expenses :New homes may not include essential features like landscaping, window treatments, or additional appliances such as washer/dryer and air conditioning. These extra costs can add up quickly.

6. Limited Character or Modern Design Features that Become Outdated: New homes may lack the charm and character of older properties. They can sometimes feel uniform, especially in planned developments with similar designs. Additionally, many new design trends fall out of style quickly, adversely affecting resale value. So, opting for more timeless design features may be worth considering.

Get the best of both worlds

Suppose you want to reap the benefits of a design-forward home without the extra costs. By buying a home that is just a few years old, you can save on the premium price, shop for a property with modern design features and a layout that appeals to your taste, and sidestep many of the downsides of buying brand new.

In newer homes on the resale market, heating and mechanical systems have been used regularly, so any initial issues have probably already been repaired. Any underlying damage would be more visible and more likely to be revealed during a home inspection.

You can also shop for a home where the previous owners have already paid for and installed upgrades such as air conditioning, window coverings and landscaping.

Plus, you’ll be able to move into a new neighbourhood with finished construction and more amenities, along with green spaces, trees, and foliage that have had time to grow.

Summary

Buying a brand-new home offers many benefits, from modern designs to lower maintenance costs. However, the higher price tag and potential for hidden challenges mean it’s not the ideal choice for everyone.

Consider your priorities: Do you value energy efficiency and customizability, or do you prefer a resale home's charm and established character? By carefully weighing the pros and cons, you can make an informed decision that aligns with your lifestyle and financial goals.

Don't hesitate to reach out if you’re ready to explore new construction homes or need guidance navigating the process.

Your dream home might be just a blueprint away!

The past year was another dynamic one for Calgary real estate.

Marked by continued price growth, persistent supply challenges among lower-priced homes, and the long-awaited shift toward more balanced market conditions, home buyers and sellers saw a little bit of everything.

With 2024 drawing to a close and many of our clients asking what they can expect in Calgary real estate this coming year, in this month’s blog, we reflected on a few key trends that shaped Calgary’s real estate market this year and developments that may impact what the future holds for 2025.

Strong out of the gates but a slower, steadier finish

Following in the footsteps of 2023, the Calgary real estate market got off to a hot start in 2024, with prices rising steadily during the first few months of the year. February, March, and April were the busiest months for transactions and price growth, with high demand continuing to drive competition and multiple-offer scenarios.

However, in a surprising twist that came as a shock to many Realtors and industry experts (us included), the much-anticipated decline in Government of Canada interest rates did not lead to the predicted surge in buyer demand — as would-be buyers behaved more cautiously than expected, likely due to economic uncertainties or higher price points in specific market segments.

The resulting transition towards more balanced market conditions throughout the second half of the year was among 2024’s most significant developments; where homes were previously in multiple offers, we began to see many sell below listing price or even make price adjustments.

It’s also worth noting that rental rates — which soared in tandem with housing demand the past two years — were trending downwards. The average Calgary rental rate was down 5.5% year-over-year from 2023.

The tale of two markets

Even though the overall market trended toward more balanced conditions from August to December, many market segments continued to lean heavily toward sellers — with specific conditions varying greatly depending on home type and price point.
While the supply of homes priced over $700,000 has steadily increased month-over-month, easing conditions for buyers shopping at higher price points, lower-priced homes — especially semi-detached and detached — remained comparatively scarce when coupled with the high demand for more affordable housing options.
Additionally, many home builders focused on keeping new townhomes and condos as rentals—a strategy influenced by favourable lending rules—exacerbating the limited availability in this segment.
As of November 2024, the Calgary Real Estate Board’s (CREB) monthly market report highlighted ongoing supply shortages for lower-priced homes.

Looking ahead to 2025

What does all of this mean for 2025? Great question. It’s essential to remember that every forecast, even the most well-researched, is speculative and subject to change based on real-time market trends and current events.

That said, several developments from 2024 are likely to bear relevant impacts on housing supply and demand heading into 2025:

1. Land Rezoning - It will take time to determine the long-term impacts of 2024’s blanket rezoning land use re-designations. Still, we are seeing an uptick in development permits submitted in Calgary neighbourhoods previously zoned R1. Despite the contentious nature of the city’s rezoning, they should increase the supply of rowhouses and townhomes throughout 2025 in neighbourhoods that were previously single-family home communities.

2. New Construction - More homebuilders are leaning into townhome developments. Although concerns about oversupply and profitability linger for rentals, some are exploring the market gap for townhomes for sale, driven by sustained demand for affordable ownership options.

3. Speculative Investment - During the red-hot market in 2022, many speculative investors from out-of-province invested in pre-construction projects, betting they would dramatically increase in value by completion time, a gamble that was successful in Ontario and BC. With many of these projects finishing soon and in 2025 and not having increased in value as anticipated, many investors will be looking to sell to cut losses or put units up for rental, increasing supply to the housing or rental markets.

4. Immigration Slowdown - Following two years of record migration, Calgary is expected to see a continued slowdown in international and interprovincial migration, which could ease demand in both rental and housing markets and further contribute to the stabilization of supply and demand.

Final thoughts

Taking into account factors likely to impact supply and demand, leading industry experts are predicting the Calgary real estate market will likely see a more modest price growth of between 1-3% in 2025.

Though anti-climatic news for potential sellers and some Realtors, the continuing trend towards more balanced market conditions brings a much-needed reprieve for buyers and is generally good for the city as a whole, as the 7-10% year-over-year price growth we saw in 2022/23 is not sustainable.

Following two or three record-setting years of price appreciation, a return to comparatively stable conditions will be a tough adjustment, but there are still plenty of encouraging reasons to be optimistic about Calgary’s future growth:

• Lower housing prices with higher average incomes when compared with other major cities

• The lowest tax rate in Canada

• An entrepreneurial spirit and economic diversification, in addition to a robust oil and gas industry

• A young and educated population

• Renewed government investment in public projects and infrastructure

For all these reasons, Calgary remains an exciting place to live and invest in. As we head into 2025, the focus on balance, sustainability, and community growth promises a stable and prosperous future for the city.
Whether you’re a buyer, seller, or investor, Calgary’s long-term potential makes it a city worth watching, and 2025 could see favourable buying opportunities for investors and home buyers.
Have more questions? Send us an email or give us a call. We’d be happy to chat with you.

Conventional wisdom has always been that spring is the ideal time to list your home for sale in Calgary. The leaves are budding, the snow is melting, and the seasonally driven spring real estate market brings an influx of buyers looking for their dream homes.

That said, not all sellers have the luxury of time when listing their property for sale, and there are pros and cons to listing at any time of year.

As the seasons change again here in Calgary, we’ve put together some essential things to consider if you’re contemplating selling your home this winter or spring.

Why wait for spring to sprung?

Spring is notoriously the busiest time of year for Calgary real estate. Why?

Well, as in many cities with colder and longer winters, the warmer spring weather and extended daylight hours, combined with the lull between the busy Christmas season and upcoming summer holidays, make this an ideal time of year for buyers to move and enter the market in full force.

What this means is that sellers listing in the spring generally enjoy high demand, coupled with increased competition to fuel more offers and drive up the home's sale price.

Additionally, curb appeal is greatest this time of year, with lawns turning green, gardens beginning to bloom, and more sunlight for evening showings. So, selling when your home’s exterior naturally looks its best can attract more interest and potentially create more value among competing buyers.

Winter shouldn’t always get the cold shoulder

Despite the advantages of the spring market, the reality is that many sellers may not have the advantage of time, or their circumstances may not permit them to wait several months to list their homes for sale.

The good news is that while these sellers may sacrifice on increased curb appeal and higher market demand, there are still some pros to selling in winter:

While the spring market brings more buyers, it also brings more inventory, which means it can be challenging for your home to stand out. In the winter, homes that are well-staged to feel warm and inviting can offer a cozy appeal while facing less competition from other sellers.

Additionally, fewer buyers are casually looking for homes or just perusing the market in the winter. Buyers in the winter market often need to move more quickly due to changes in jobs, relocations, or other time-sensitive reasons. These factors can make them more driven and motivated to submit strong offers to close a deal.

Sellers who list their homes in the winter will also enjoy a slower-paced market, without the same pressure to act quickly or respond to offers or risk losing to competing listings.

Which season is best for you?

No matter the seasonal trends, at TB Real Estate Team, we always counsel clients to consider their circumstances over the strategy of trying to time the markets.

If your mortgage renewal date, financial realities, or personal circumstances will allow you to wait a few months to list in the spring — it certainly might be worth considering, especially for families with school-age children hoping to move between the end of the school year and the start of the next.

At the same time, changes in jobs, financial situations, or family demands may well outweigh any potential of delaying the sale of your home to a later date in time.

Another aspect to consider is the unprecedented conditions in the Calgary real estate market over the past two years, as seasonal slowdowns and market upticks have been far less pronounced due to historically low housing inventory levels.

This comparative easing of seasonal booms and busts has been especially true for homes priced under the $700,000 mark, where demand is still outpacing supply — meaning that sellers in this price point have enjoyed a seller’s market throughout the year.

In summary

Deciding whether to list in the winter or spring can make a significant difference when selling a home in the Calgary real estate market. Both offer unique opportunities, and each has advantages and challenges to consider as you prepare to sell your home.

If listing in winter, focus on creating a cozy and well-maintained atmosphere inside your home while ensuring snow removal and exterior maintenance to maximize curb appeal and highlight cold weather pluses like energy-efficient windows or sound heating systems and fireplaces.

If listing in spring, be prepared to act decisively, accommodate more casual buyers, and navigate a busier market.

As with any real estate decision, above all else, it’s best to consult with an experienced professional you trust and then make an informed decision that works for you and your family based on your circumstances.

Still have questions? Send us an email or give us a call. We’d be happy to chat with you.

Selling a home can often be a straightforward experience, especially when working with a seasoned Realtor® who can help streamline the process.

But when it’s a tenant-occupied property, the dynamics can change. Whether you’re a landlord with multiple properties or a first-time investor, selling a tenant-occupied property in Alberta requires careful planning, legal understanding, and clear, well-documented communication with all stakeholders.

As real estate investors, we’ve compiled a step-by-step guide based on much of our own experience to help you navigate the complexities while ensuring a smooth transaction for you and your tenants.

1. Weigh the pros and cons of selling with or without tenants

The first point we counsel home buyers to consider is whether or not they will sell “with tenants.” In other words, will you wait until the lease expires before selling the home, or will you list the property with tenants in place?
Selling a property where the buyer assumes the tenants gives you the advantage of listing your property on the market whenever you like — regardless of lease terms. It can also be attractive to potential investors, as they’re purchasing an asset from which they can earn rental income immediately. The drawback here is that you're limiting your target market to investors and excluding buyers looking for a personal residence.
Some investors also prefer to vet or select tenants through their own processes. Showing a property while tenants live in the home can also be challenging, especially if they aren’t motivated to present the house in the best light.
Selling a vacant home is easier to stage, offers more flexibility for showings, and appeals to a broader buyer pool. Still, you’ll need to give the required notice, navigate the tenant transition and consider the gap in rental income if the sale takes time.

2. Making a decision

If you’ve weighed the pros and cons but are still struggling to decide whether to sell with tenants, consider the following:

1. How easy is your tenant to interact with? Will they cooperate with showings? Do you believe they’ll commit to leaving the property during the showing? If they have pets, how will their pets be managed?

2. Are any major repairs needed that will increase the property's saleability? Forgoing repairs because the property is tenant-occupied can leave money on the table or even impact the likelihood of a sale.

3. Will the property be tidy for showings or left as a mess? As noted above, tenants do not have the same financial incentives as owners to ensure a home is shown in the best possible light.

In other words, if you plan to list a property while it is tenant-occupied, you’ll want to ensure your tenant is cooperative and willing to keep it tidy for showings and that no major repairs are needed.

If these factors are not in place, it might be in your best interest to wait until lease terms are up and sell the property vacant to increase the likelihood of selling at a fair or great price.

3. Know the laws

Regardless of what you might have written into your lease, it’s crucial to understand that in Alberta, tenants have rights protected by the Residential Tenancies Act (RTA). These rights will often supersede any other exceptions or clauses, even if they’re put in writing.
Before communicating with your tenants about selling the property, knowing the legal requirements specific to your situation is essential to avoid potential misunderstandings or difficulties in communication.
When considering tenancy laws, there are generally three key points to consider:

• Tenants' Right to Stay - If the property is sold, the tenant generally has the right to stay until the end of their lease. The new owner cannot terminate the lease agreement unless the lease permits or both parties mutually agree.

• Proper Notice - If you have a fixed-term lease and your tenants intend to stay for the full term and want to sell the property vacant, you must wait for the lease to expire before selling. If the lease is periodic (e.g. month-to-month), Alberta law requires a minimum of three calendar months' notice if the new buyer plans to occupy the property themselves.

• Showings - Tenants must be given at least 24 hours written notice before a showing. All showings must be conducted between 8 a.m. and 8 p.m., and tenants can refuse entry under certain circumstances (such as illness).

4. Establish open communication

Once you’ve decided to sell, and you have an idea as to whether or not you will sell “with tenants,” we suggest having an open and honest conversation with your tenants as early as possible.

Not only does this build trust, but it can also make the process smoother. Your tenants may have concerns about how the sale will affect them, and being upfront can help alleviate their worries and positively impact communication throughout the process.

Some landlords may even offer additional incentives to tenants to cooperate during the sale, such as rent reductions during the showing period or covering moving costs if they decide to exit the lease and leave early.

If pursuing these options, they should always be well-documented, put in writing, and formally agreed upon by both parties.

5. Go with the pros

When selling a tenant-owned property, it’s important to work with a real estate agent who has experience selling or owning investment properties — ideally both.

An experienced agent will be familiar with local market conditions and the specific challenges of managing showings, legalities, negotiations, and closing deals with tenants in place.

They can also help position the property to attract buyers looking for investment properties with existing tenants or help highlight other features such as rental income potential, solid tenant history, and property condition.

At TB Real Estate Team, we also work collaboratively with the best real estate lawyers to ensure you comply with Alberta’s tenancy laws throughout the process.

Summary

Selling a tenant-occupied property in Calgary can be complex, but it can be done smoothly with the right approach. Understanding tenant rights, keeping communication open, and working with professionals who know the market are key to ensuring a successful sale.Whether you sell with tenants in place or wait for the lease to end, there are opportunities to attract the right buyer and complete the sale on favourable terms.
If you’re interested in selling a tenant-occupied property or have questions about anything you’ve read here, don’t hesitate to reach out.