Freehold homes remain balanced, while apartment condominiums continue to favour buyers. The story remains one of two markets moving in different directions.
Detached homes are absorbing inventory well enough to keep prices broadly stable. Apartments, meanwhile, continue to face pressure from additional supply, giving buyers more choice and stronger negotiating power.
The chart below tells the story of how the freehold market (no condo fees) is gradually tightening. Since peaking around the turn of the year, freehold inventory has been steadily absorbed, while the median time it takes to sell a home has fallen from roughly 50 days to just over 20 days.
It's cliché, but well-priced homes are selling more quickly than they were just a few months ago.
Chart: Freehold Average Days on Market & Months of Inventory
One thing I've been hearing repeatedly from other REALTORS® is just how local this market has become. A well-prepared home can still attract multiple offers, while another only a few streets away may sit for weeks. Increasingly, success comes down to pricing, presentation, and understanding your particular pocket of the city.
One area that feels marginally calmer than it did a month ago is Calgary's luxury market. Activity above $1.5 million appears to have softened slightly. That may simply be the normal ebb and flow of a relatively small market, though easing geopolitical uncertainty may also be playing a role.
July Sneak Peek
As I write this on the morning of July 14, our cowboy hats are still out.
The early numbers suggest more of the same. Inventory has already fallen by 134 homes, while buyers have completed 761 firm sales against 1,225 new listings. In other words, inventory is already being absorbed rather than being built.
Luxury also continues to look healthy without becoming overheated, with 21 sales and 257 active listings above $1.5 million.
Stampede has just wrapped up. We normally keep an eye out for a small post-Stampede lift as families return to house hunting. So far, though, this year feels surprisingly steady. The market remains balanced, predictable, and remarkably consistent.