Understanding Tariffs and Their Impact on Calgary’s Real Estate Market: An In-Depth Guide

As a realtor, my goal is to provide valuable insights into the factors that impact Calgary’s real estate market. One significant factor currently influencing the housing market is the implementation of tariffs. Tariffs, or taxes on imported goods, can directly affect the cost of materials used in home construction, renovation, and furnishing.

In this guide, I’ll break down what tariffs are, how they impact the real estate market, and what buyers and sellers need to know to navigate these changes effectively.

What Are Tariffs and Why Do They Matter?

Tariffs are taxes imposed by governments on imported goods. They are designed to protect domestic industries by making foreign goods more expensive, encouraging local purchases. However, tariffs can also increase costs across industries, including real estate, by raising the prices of materials and products used in homebuilding and renovation.

How Do Tariffs Affect Homebuyers and Homeowners?

When tariffs are applied to construction and home improvement materials, the cost of those goods rises. This can lead to:

• Higher home prices due to increased building costs.

• More expensive renovations and repairs.

• Reduced new home construction, which can limit market inventory.

Let’s explore the key materials impacted and how this affects Calgary’s real estate market.

Impact of Tariffs on Construction Materials and Appliances

1. Lumber and Wood Products

Lumber is essential in home construction, from framing to flooring and cabinetry. Tariffs on softwood lumber exports have driven up prices, increasing home construction costs by thousands of dollars. Builders may absorb these costs, reducing their margins, or pass them onto buyers in the form of higher home prices.

2. Steel and Aluminum

Steel and aluminum are crucial for structural components, siding, roofing, and windows. Tariffs on these materials lead to higher prices, making both construction and home appliances more expensive. Items such as refrigerators, washers, and dryers see price hikes when raw material costs rise.

3. Concrete, Glass, and Paint

Tariffs also impact essential materials like concrete (for foundations and driveways), glass (for windows and doors), and paint. Increased costs in these areas make both new builds and renovations more expensive for homeowners and buyers.

How Tariffs Impact Calgary's Real Estate Market

For Homebuyers:

• Higher Prices for New Homes: Rising construction costs force builders to raise home prices. Waiting to buy could mean paying more in the future.

• More Expensive Renovations: If you're buying a home that requires upgrades, material costs could increase your renovation budget.

• Limited Inventory: Builders may slow or delay projects due to higher costs, reducing new home availability and increasing demand for existing homes.

For Homeowners Considering Selling:

• Increased Demand for Existing Homes: As new home prices rise, more buyers may turn to resale properties, driving up demand.

• Short-Term Opportunity: Selling now could allow you to capitalize on higher demand before rising costs affect affordability.

• Potential Market Shifts: Delaying a sale may lead to fewer buyers in the market as affordability decreases due to rising material and mortgage costs.

Why Acting Now Can Be Advantageous

For Buyers:

• Lock in current home prices before further cost increases.

• Avoid rising mortgage rates and potential affordability challenges.

• Secure a property while inventory remains available.

For Sellers:

• Take advantage of higher demand while new home prices push buyers toward resale properties.

• Maximize your home’s value before potential market slowdowns.

Key Takeaways

1. Tariffs on materials like lumber, steel, and appliances increase construction and renovation costs.

2. Higher material costs drive up new home prices and renovation expenses.

3. Rising costs may shift demand to existing homes, benefiting sellers.

4. Acting sooner can help buyers avoid higher prices and limited choices.

Final Thoughts

The impact of tariffs on construction materials is a key factor shaping Calgary’s real estate market. Buyers should consider acting before costs rise further, while sellers may benefit from increased demand for resale homes. Staying informed and proactive is crucial in navigating these changes.

Disclaimer: This guide is for informational purposes only and does not constitute legal or financial advice. The impact of tariffs on Calgary’s real estate market can vary based on individual circumstances, and it’s important to consult with a professional to understand how these changes may affect your specific situation.

If you need guidance or have questions I’m here to help. Contact me today.

Calgary Real Estate Market Update – February 2025

Welcome to your detailed breakdown of Calgary’s housing market for February 2025! Whether you're a first-time homebuyer, seasoned investor, or just curious about the market, this blog will help you understand what’s happening in Calgary real estate — in simple, easy-to-follow language.

How is the Calgary Real Estate Market Doing in February 2025?

Calgary’s housing market is showing positive growth with stable prices and more homes available compared to last year. This means if you're thinking of buying or selling, now is a great time to explore your options.

According to the Calgary Real Estate Board (CREB), 1,923 homes were sold in February 2025. That's more than what we usually see this time of year — proving that Calgary’s real estate market is still strong despite all the changes happening in the economy.

More Homes Available for Buyers

One of the biggest changes this month is that there are more homes available compared to last year. Calgary now has 4,325 homes listed for sale — that’s 76% more homes than last February!

What does this mean for you?

• If you're a buyer, you have more options to choose from.

• If you're a seller, it's still a great time because buyers are actively looking.

The average time it would take to sell all the homes available (called “months of supply”) is 2.4 months — which means Calgary is in a balanced market where neither buyers nor sellers have a big advantage.

Calgary Housing Prices – What Are Homes Selling For?

Calgary’s home prices are steady and rising slowly — which is a good sign! The average price for all types of homes is $587,600 — about 1% higher than last year.

Here's how prices look for different types of homes:

• Detached Homes: $771,400 (+5.5%) – Popular for families with more space.

• Semi-Detached Homes (Duplexes): $693,200 (+7.2%) – Great middle option with fast price growth.

• Townhouses: $453,900 (+3.1%) – Affordable and perfect for first-time buyers.

• Apartments/Condos: $338,100 (+4.2%) – Best option for budget-friendly living or investors.

What’s Happening in Calgary’s Neighbouring Cities?

Calgary isn’t the only place seeing positive trends — nearby towns are also growing:

• Airdrie: $541,200 (+1.9%) – Popular for families.

• Cochrane: $580,400 (+5.3%) – Offers scenic living.

• Okotoks: $570,700 (+1.4%) – Great community lifestyle.

• Chestermere: $705,200 (+2.1%) – Known for lakeside living and family-friendly neighborhoods.

Commercial Real Estate in Calgary – What's New?

Calgary’s commercial real estate market is seeing steady demand as businesses grow and new opportunities emerge. The biggest trends right now include:

• Retail Spaces: Small stores, cafes, and restaurants are seeing high demand, especially in busy neighborhoods.

• Warehouses: With more businesses needing storage and distribution spaces, warehouses are becoming a top investment choice.

• Office Spaces: Downtown Calgary and industrial areas are seeing consistent demand for office spaces, especially those offering flexible layouts.

If you're considering investing in commercial real estate, now is a great time to explore your options. Whether you're looking to lease, buy, or invest, I can help you navigate the market and find the right property.

Final Thoughts – Is Now a Good Time to Buy or Sell in Calgary?

Absolutely! Calgary’s market is offering balanced opportunities for both buyers and sellers right now.

If you're thinking of buying, there are more homes available than last year — giving you better choices. If you're selling, home prices are stable and still rising slowly, which means you can get a great value for your property.

Whether you're buying your first home, upgrading, or investing in commercial real estate, I’m here to help guide you through every step of the process.

Let’s Connect!

I’m Salman Bhojani — your Calgary Residential & Commercial Realtor. If you're curious about the market or have any questions, feel free to reach out to me.

Disclosure

All the information provided in this blog is based on the most recent market data available from the Calgary Real Estate Board (CREB) and is intended for informational purposes only. Market conditions can change, and it's always best to consult with a professional realtor for the latest updates and personalized advice.

Carbon Monoxide: The Silent Killer – A Comprehensive Guide to Keeping Your Home & Family Safe 🏠💡

A recent tragic incident in Calgary’s southeast serves as a stark reminder of the hidden dangers of carbon monoxide (CO). A woman lost her life, and a child was hospitalized after exposure to CO from a malfunctioning furnace. The home lacked a functioning CO detector, a simple device that could have saved their lives. Let’s make sure your home is protected by understanding this invisible threat and taking the necessary precautions.

What Is Carbon Monoxide? Why Is It So Dangerous? ⚠️

Carbon monoxide (CO) is a colorless, odorless, tasteless gas that can accumulate inside your home without warning. It is produced when fuels like natural gas, propane, oil, wood, or charcoal are not fully burned. Common sources of CO include:

• Furnaces

• Gas stoves

• Fireplaces

• Water heaters

• Running vehicles in enclosed spaces (e.g., a garage)

Why is CO dangerous?
CO interferes with the blood’s ability to carry oxygen to vital organs, such as the brain and heart. Even small amounts can be harmful, especially if you’re exposed over time. Early symptoms of CO poisoning include:

• Headaches 🤕

• Dizziness 🌀

• Nausea 🤢

• Confusion 🧠

• Chest pain 💔

• Loss of consciousness 😴

The Danger: Prolonged exposure can lead to severe health issues like brain damage, coma, or even death. The symptoms often resemble those of the flu, food poisoning, or general fatigue, so it’s easy to overlook the problem until it's too late.

How to Protect Your Home & Family 🌟

Good news! Protecting your family from CO is possible with these simple, life-saving steps.

1. Install Carbon Monoxide Detectors 🚨

CO detectors are the most effective way to alert you to high levels of CO in your home. These devices save lives by providing an early warning when CO is present.

• Where to install: Place detectors on every level of your home, particularly near sleeping areas and in basements. Since CO is lighter than air, it tends to rise—so place detectors on the ceiling.

• Testing & Maintenance: Test detectors at least once a month by pressing the test button. Replace the batteries yearly or sooner if the low-battery alarm sounds. Detectors have a shelf life of 5-7 years, so check the expiration date and replace them if needed.

2. Maintain Your Furnace & Other Appliances 🔧

Regular maintenance of your furnace and other fuel-burning appliances is key to preventing CO leaks, as these are the most common sources of CO in the home.

• Annual Inspections: Have a professional inspect your furnace, fireplace, water heater, and other gas-powered appliances each year. Technicians can identify problems like rusted components, malfunctioning parts, or incomplete combustion that may lead to CO production.

• Keep Vents and Chimneys Clear: Ensure that your furnace vents, chimneys, and exhaust ducts are clean and clear to allow CO to escape safely. Blocked vents or dirty chimneys are common causes of CO buildup.

3. Never Run Engines Indoors 🚗

Many people unknowingly put themselves at risk by running vehicles or generators indoors, where CO can accumulate quickly.

• Vehicles: Never leave your car or truck running in an enclosed garage, even if the door is open. Exhaust from vehicles can produce dangerous CO levels, which can seep into your home if the garage is attached.

• Generators & Grills: Always use gas-powered generators, charcoal grills, and kerosene heaters outside in well-ventilated areas. Never use these indoors, as they can quickly produce harmful CO.

4. Recognize the Signs of a CO Leak 🚨

Recognizing the early signs of a CO leak could save your life. Watch for the following symptoms:

• Early Symptoms of Exposure: Headaches, dizziness, nausea, or confusion, especially indoors. If symptoms improve when you step outside, it’s a red flag that CO may be present.

• Physical Indicators: Yellow or brown stains around gas appliances, soot buildup around fireplaces, or rusty ventilation systems could indicate incomplete combustion, which can lead to CO leaks.

If you notice these symptoms or signs, leave the house immediately and call 911. Do not attempt to locate the source of the leak yourself.

What to Do If Your CO Alarm Goes Off 🚨

If your CO detector sounds an alarm, act quickly:

1. Evacuate the house immediately: Get everyone, including pets, out of the house. Don’t try to locate the leak yourself.

2. Call for help: Dial 911 and report a possible CO leak. Also, contact your gas utility company to report the issue.

3. Do not re-enter: Wait for emergency responders to confirm it’s safe to return. Even if the alarm stops, CO may still be present, so never assume the danger is over.

Additional Tips to Stay Safe 🛑

• Ventilate your home: Keep windows and doors open to allow fresh air in, especially when using gas appliances.

• Keep your garage door open: If you need to warm up your car in winter, always open the garage door to allow exhaust to escape.

• Install a fresh air intake for your furnace: This helps prevent backdrafts and ensures a constant flow of air to your furnace, reducing the risk of CO buildup.

Final Thoughts: Stay Safe & Secure 🛑💙

This tragedy reminds us how easily CO poisoning can occur—and how simple steps can prevent it. Installing CO detectors, maintaining your appliances, and staying vigilant about air quality can save lives.

Remember, carbon monoxide may be the “silent killer,” but with the right precautions, you can keep your home and family safe.

If you need more information about home safety or reliable furnace inspectors in Calgary, I’m here to help. Your home should be a safe haven, and I’m committed to ensuring it stays that way.

Stay safe and stay warm! 🌟

Why Now is the Perfect Time to Buy or Sell in Calgary – Don’t Wait Until Summer.

While many people think summer is the best time to buy or sell a home, the Calgary real estate market offers incredible opportunities right now. Acting sooner rather than later can provide significant advantages for both buyers and sellers. Here's why waiting until summer could cost you, and why now is the ideal time to make your move.

For Buyers: Why Acting Now Could Save You Thousands

1. Less Competition, More Opportunities

With fewer buyers in the market, you can avoid bidding wars and secure your dream home at a better price.

Example: In 2023, homes bought in early spring sold for 3-5% less than those purchased during peak summer months.

2. More Room for Negotiation

Sellers are often more willing to negotiate in the early spring, which means you could score a better deal—whether it's a lower price or additional perks like closing costs and upgrades.

3. Lock in Lower Mortgage Rates

Mortgage rates can rise, so locking in a favorable rate now could save you thousands over the life of your mortgage. Waiting could lead to higher monthly payments as rates climb.

4. Better Selection of Homes

Spring listings often feature quality homes before the summer flood of properties. You’ll have more options without the pressure of high competition.

5. Faster, Smoother Transactions

With fewer people involved, including lenders, inspectors, and lawyers, you can expect quicker approvals and a smoother, faster closing process.

6. Avoid the Summer Price Hike

Historically, home prices rise in the summer due to increased demand. Buying now locks in a better price before the market heats up.

Example: Calgary home prices rose by 6% from April to August in 2023, meaning early buyers saved thousands.

7. Easier Moving Conditions

Spring offers moderate weather for an easier move—no extreme heat, plus better availability for movers and contractors.

8. Get a Jump on the Best Properties

The best homes sell fast. Waiting could mean losing out on a perfect fit. Acting now gives you a competitive edge in securing your ideal home.

For Sellers: Why Listing Now Could Maximize Your Home’s Value

1. Stand Out with Less Competition

With fewer homes on the market, your listing will stand out to serious buyers.

Example: In 2023, homes listed in early spring sold 30% faster than those listed in summer.

2. Serious, Motivated Buyers

Buyers in early spring are typically pre-approved and ready to make quick decisions to lock in favorable rates before they rise.

3. Higher Offers, Faster Sales

With limited inventory, buyers are more willing to pay close to asking price to avoid competition.

Example: Spring sellers in 2023 received offers 3-7% higher than those who listed in mid-summer.

4. A Smoother, Faster Process

Fewer delays are expected when lenders, appraisers, and inspectors are less overwhelmed, leading to a quicker closing process with fewer complications.

5. Control Your Timing

Listing now gives you more time and flexibility to find your next home, without the rush of summer's competitive market.

6. More Online Exposure

Buyers often start their search months ahead, so listings in spring typically receive more online views and engagement than those launched in summer.

7. Maximize Your Home’s Value

Homes listed in early spring benefit from less competition and higher buyer demand, allowing you to sell for a better price before the market becomes saturated with new listings.

Example: In 2023, sellers who listed in April received offers closer to their asking price and sold faster than those who waited until summer.

8. Take Advantage of Spring Curb Appeal

Spring brings fresh landscaping and natural light, making your home more inviting and enhancing its curb appeal.

Final Thoughts: The Time to Move is Now.

The Calgary real estate market is brimming with opportunity right now. Whether you’re a buyer looking to score a great deal or a seller wanting to maximize your home’s value, waiting until summer may not be your best option.

📞 Ready to make your move? Let’s chat today! Reach out, and I’ll guide you through the process with confidence and care.

Calgary Real Estate Market Update: January Brings Hope, Balance, and Opportunities for 2025

As we step into 2025, Calgary's real estate market has shown a significant shift toward balance. After three years of tight supply and intense competition, January saw a rise in inventory levels that could reshape the market in the coming months. This blog will dive into all the important details, helping you understand how these changes can benefit both buyers and sellers. Let's explore the numbers, trends, and future outlook!

1. January Sees Major Inventory Boost: A New Dawn for Buyers and Sellers

Inventory levels in Calgary's real estate market rose dramatically in January, reaching 3,639 units. This marks a 70% increase compared to January 2024. While it’s still below the usual 4,000+ units that Calgary typically sees this time of year, this jump indicates a move towards healthier, more balanced market conditions.

Key Takeaways:

• More Choices for Buyers: With more inventory on the market, buyers will have a broader selection of properties, reducing the frustration of bidding wars.

• A Calmer Market: A balanced market means less pressure on prices, creating more reasonable and sustainable conditions for both buyers and sellers.

• Growth Across Property Types: All property types saw increases in inventory, but apartment-style condominiums experienced some of the largest gains.

2. Balanced Market in Sight: Price Growth Slows, Stability Takes Over

Ann-Marie Lurie, Chief Economist at CREB®, states that supply levels are expected to improve throughout 2025, contributing to slower price growth and more balanced market conditions. This means that Calgary may be entering a phase of stability, where neither buyers nor sellers will face extreme pressure.

However, it's important to note that not all property types are experiencing equal shifts in supply:

• Detached, Semi-Detached, and Row Homes: These properties continue to see tight conditions, especially in higher-demand areas.

• Apartment Condominiums: There's a growing excess supply, especially for higher-priced units, creating opportunities for buyers in this sector.

3. Months of Supply: Still Low, But Improving—A Key Metric for Buyers and Sellers

In January, the months of supply reached 2.5 months citywide. While this is an improvement from the one month of supply reported last year, it’s still considered low for a winter month. Understanding this metric is crucial for both buyers and sellers:

• What is ‘Months of Supply’? It measures how long it would take for current inventory to sell at the current sales pace. The lower the months of supply, the tighter the market.

• Variation Across Property Types:

  • Semi-Detached Properties: These properties are still in high demand, with less than 2 months of supply.

  • Apartment Condos: On the other hand, these properties are seeing up to 3.5 months of supply, which is a sign that buyers have more options, especially in higher price ranges.

Why It Matters for You:

• For Buyers: A higher months of supply for condos means you have more time and negotiating power, especially if you're looking for a condo.

• For Sellers: If you own a semi-detached or detached home, you may still face strong demand, but balancing your expectations and being patient with price negotiations will be key.

4. Price Stability: A Steady Outlook with Subtle Growth

The total residential benchmark price in January was $583,000, reflecting a relatively stable market compared to the end of 2024, and a nearly 3% increase from January 2024.

However, it's essential to note that price growth has varied across districts, which means opportunities for buyers and sellers alike:

Detached Homes: Rising Above $600,000

• New Listings: 1,228 units in January, a 29% increase from last year.

• Sales: 674 units, slowing but still in line with long-term trends.

• Inventory: 1,448 units, still 27% below typical January levels.

• Benchmark Price: $750,800, reflecting a 7% increase from last year.

What This Means: While prices are climbing for detached homes, the rise in new listings is helping balance the supply-demand equation. This makes for a competitive but still manageable market for both buyers and sellers.

Semi-Detached Homes: More Listings, Price Stability

• Benchmark Price: $673,600, up 8% from last year.

• The semi-detached sector has seen some improvement in sales, helping stabilize inventory levels. While some areas of Calgary see slightly higher months of supply, prices have remained relatively stable.

Key Insight: Semi-detached homes are becoming a more viable option as new listings increase and inventory levels improve.

Row Homes: Consistent Growth Despite Shifting Conditions

• Sales: Row homes experienced 2% growth in 2024, the second-highest total on record.

• New Listings: A 18% increase in new listings, primarily for homes priced above $400,000.

• Benchmark Price: Row homes saw a 14% price increase year-over-year, though conditions are starting to ease thanks to improved supply levels.

Opportunities for Buyers: Row homes in Calgary are becoming a more attractive option, especially in districts outside the City Centre, where prices are more reasonable.

Apartment Condominiums: A Buyer’s Market in the Making

• Benchmark Price: $444,900, showing nearly a 5% increase from last year.

• Inventory Boost: The rise in new listings compared to sales has pushed inventory levels to more long-term norms.

Buyer Opportunity: Apartment condos, especially in higher price ranges, are seeing growing supply, providing a window of opportunity for buyers to negotiate better deals, particularly in markets like the North East district, where monthly price adjustments have already started.

5. Regional Market Highlights: Airdrie, Cochrane, and Okotoks

Let’s look at some key areas outside of Calgary that are also seeing positive changes in the market:

Airdrie: Inventory and Prices on the Rise

• Benchmark Price: $537,300, up nearly 4% from last year.

• Months of Supply: Now above 2 months, a significant improvement from previous years where supply was limited to under 2 months.

• Opportunity: With increased supply, Airdrie offers a balanced market where buyers and sellers can both thrive.

Cochrane: A Steady and Growing Market

• Benchmark Price: $565,900, up 5% from last year.

• Inventory Levels: Improved compared to past years, with above 2 months of supply.

• Opportunity: Cochrane’s market is starting to see more inventory, giving buyers a chance to find the perfect home without the intense competition that previously existed.

Okotoks: A High-Demand Market

• Benchmark Price: $614,900, a slight increase over last month and up nearly 5% from last year.

• Supply: Still relatively low, with only 68 units available in January.

• Opportunity: Okotoks is still a seller’s market, but with improved inventory, buyers can expect less pressure compared to previous years.

What’s Next for the Calgary Market? The Year Ahead

The market is heading into a more balanced, stable phase, with greater opportunities for both buyers and sellers. The increase in inventory levels across all property types, coupled with moderate price growth, offers a more optimistic outlook for 2025.

For Buyers: This is an excellent time to explore the market with more options and less competition. You’ll find opportunities in both detached homes and apartments, especially as higher-priced condos face more supply.

For Sellers: While there is still demand for properties, especially in the detached and semi-detached sectors, balancing price expectations and being patient with negotiations is key to ensuring a successful sale.

Let’s work together to navigate this exciting market and find the perfect property for you! Whether you're buying or selling, 2025 is shaping up to be a year of opportunities.

Final Thoughts The Calgary real estate market is in the midst of a positive transformation. The combination of increased supply, price stability, and more balanced conditions makes this a fantastic time to engage with the market. Reach out today, and let’s make your real estate goals a reality this year.

Feel free to reach out to me directly. Let’s make your real estate goals a reality