Calgary Real Estate Market Update- February 2025

MARKET UPDATE FOR CALGARY REAL ESTATE IN OCTOBER 2024

We have been surprised by the energy and rush of activity on both sides of the business in the last couple of weeks.

As you can see from the table, all major property types except apartments are in a technical heavy seller's market, and all price ranges up to $500k with condo fees and $1.5m without.

We do not regularly hear that tariff uncertainty is causing buyers to delay or sellers to rush their homes to market.

We find that listings are selling less commonly in multiple offer situations than last year, and that those multiples are less hectic (fewer buyers per listing), so the shortage certainly isn't what it was.

We price (& reprice) homes often (for example, Breanna's upcoming listings), and we always see the recent price trend in the particular market subset. Generally, prices had been flat or falling 0-0.5% a month in Q4 of last year, but have been appreciating again for the last 1-2 months.

Falling interest rates are an appropriate medicine for the market right now, but there's the possibility that they will supercharge our market as pent-up demand is released.

The future is harder to know than ever, but change may be starting to benefit Alberta real estate more than hurt it.

Outlook: - Apartments - flat (see last month's report - Townhome - appreciation, sometimes strong but location-specific (think city centre) - Detached & semi-detached - appreciation across the board - Luxury & particularly semi-luxury - gathering strength (interest rates)

Next month we will likely be marking Calgary as "seller's market" again, as sentiment in the market appears to match the stats, which have been in seller's market territory the whole time.

Readers who rarely read the Fort McMurray section may be interested in it this month.