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

Interest Rate Drop: A Golden Opportunity for Homebuyers & Sellers in Calgary.

Great news for the real estate market! The Bank of Canada has officially reduced its policy rate by 25 basis points to 3%, making homeownership more affordable and creating a surge of opportunities for both buyers and sellers.

This marks a major shift after months of high interest rates, bringing renewed confidence to the market. Whether you’re looking to buy your dream home or sell at the best price, this could be the moment you’ve been waiting for.

What This Rate Drop Means for You

Lower Mortgage Rates = Lower Monthly Payments

• With a reduced interest rate, home loans are cheaper than before, making it easier to afford the home you love.

• Even a small drop in interest rates can save you thousands of dollars over the life of your mortgage.

Bigger Buying Power

• You can now qualify for a larger mortgage, allowing you to explore bigger homes or better neighborhoods.

• More choices mean less compromise—find a home that truly fits your needs!

More Demand = More Market Activity

• Lower interest rates attract more buyers, creating a lively, competitive real estate market.

• Sellers benefit from quicker sales and higher offers as demand increases.

Why NOW is the Best Time to Buy or Sell.

For Buyers: The Smartest Move You Can Make

Lock in a Lower Rate Before It’s Gone!

• Rates can fluctuate, and banks may adjust mortgage terms at any time. Act now to secure the best possible rate!

Afford More Home for Your Money

• With lower borrowing costs, you can upgrade to a bigger home, better location, or higher-end finishes.

Beat Future Price Hikes

• As more buyers enter the market, home prices are expected to rise.

• Buying now ensures you get in before competition drives prices higher.

Stronger Market Conditions

• Calgary’s real estate market is predicted to grow in 2025, making this a prime time to invest in property.

For Sellers: A Market Built for Success

More Buyers = Faster & More Competitive Offers

• Lower interest rates mean more buyers qualify for mortgages, increasing demand for homes like yours.

Maximize Your Selling Price

• More competition among buyers can lead to multiple offers—potentially selling your home above asking price.

Sell Quickly & Smoothly

• Well-priced homes are moving within days—don’t miss out on this active market.

Don’t Wait—This Window Won’t Stay Open Forever.

• The next Bank of Canada rate decision is in March, meaning things could change. Acting now eliminates uncertainty and ensures you get the best deal.

• More buyers are entering the market every day—be ahead of the crowd.

Let’s Make It Happen—Together.

I’m not just a realtor—I’m your trusted guide in this fast-moving market. Whether you're looking to buy, sell, or invest, I’m here to help you make the smartest move.

Call or text me - let’s talk about how you can take advantage of this opportunity today.

Calgary Housing Market Remains Resilient: 2025 CREB Forecast

The Calgary Real Estate Board (CREB) has unveiled its 2025 housing market forecast, and the outlook is nothing short of exciting! Despite global uncertainties and a slight slowdown in migration, Calgary’s housing market is poised to remain a strong and vibrant hub for real estate activity. Let’s dive into the highlights and explore what makes 2025 a promising year for buyers, sellers, and investors alike.

1. A Strong Market with Balanced Conditions

• Over 26,000 sales forecasted: Calgary is set to experience another year of robust housing activity, reflecting ongoing confidence in the market.

• Balanced market dynamics: For the first time in years, Calgary’s housing market is transitioning into a more balanced state, offering stability for buyers and sellers alike.

• Moderate price growth: Prices are expected to rise by a manageable 3% annually, ensuring sustainable growth without pricing out potential buyers.

2. A Surge in New Construction and Expanding Rental Options

• Record-breaking new home builds: In 2024, Calgary saw an unprecedented surge in new home construction, with rentals making up over 20% of new builds—double the usual rate.

• 9,000 rental units added: Purpose-built rentals have reshaped Calgary’s housing landscape, providing much-needed options for renters.

• 7,000 units under construction: The construction boom continues, ensuring a steady flow of housing supply into 2025.

• Rental vacancy rate at 4.8%: While vacancies have slightly increased, it’s a positive sign for renters seeking choice and affordability in newer buildings.

3. Population Growth Driving Demand

• Projected population growth of 3.1%: While lower than the 5.6% seen in 2024, Calgary’s growth remains exceptional, driven by strong interprovincial migration.

• Migration trends stabilizing: Federal immigration adjustments are moderating international migration, but Alberta continues to attract newcomers thanks to its strong economy and opportunities.

• Diverse demographic appeal: Calgary’s thriving job market, vibrant culture, and family-friendly communities make it a top choice for people of all ages.

4. Economic Considerations and Opportunities

• Tariff uncertainty: CREB highlights potential risks from global tariffs, which could affect employment and consumer confidence. However, Calgary’s resilience and adaptability remain key.

• Energy sector stability: If the energy sector receives tariff exemptions, it could bolster Alberta’s economy, driving job growth and housing activity.

• Balanced supply and demand: While more housing supply is entering the market, it aligns with Calgary’s steady demand, ensuring a stable outlook.

5. Opportunities for Buyers and Sellers in 2025

For Buyers:

• More choices than ever: With increasing inventory, you have access to a wide range of homes to suit every lifestyle and budget.

• Balanced conditions: Less competition means more room for negotiation and careful decision-making.

• Affordability and accessibility: Moderate price growth ensures Calgary’s market remains accessible for first-time buyers.

For Sellers:

• High demand persists: Calgary’s growing population and strong economy continue to fuel demand for quality homes.

• Strategic marketing is key: Staging your home and leveraging professional marketing strategies can make all the difference in a competitive market.

• Steady price appreciation: Selling in 2025 allows you to capitalize on sustained price growth without the volatility of previous years.

6. What CREB’s Chief Economist Says

Ann-Marie Lurie, CREB’s chief economist, shares her insights:

• “While the market is expected to be more balanced than in recent years, significant economic risks — such as potential tariffs — could impact activity. However, Calgary’s fundamentals remain strong.”

• Lurie also noted the importance of ongoing housing supply growth, which will keep Calgary’s market accessible and dynamic.

Why 2025 is the Year to Act

• Buyers: Don’t miss the chance to explore Calgary’s diverse housing options with less competition and more negotiating power.

• Sellers: Take advantage of a stable market and strong demand to achieve your real estate goals.

• Investors: With rental growth and balanced conditions, Calgary offers promising opportunities for long-term returns.
  

Let’s Achieve Your Real Estate Goals Together

Calgary’s 2025 real estate market is full of potential, and I’m here to help you make the most of it. Whether you’re buying, selling, or investing, my expertise and local knowledge will guide you every step of the way.

Feel free to reach out with any questions or to start planning your next real estate move. Let’s make 2025 your best year yet in Calgary’s housing market.

Calgary’s Real Estate Market in 2025: What Buyers and Sellers Need to Know About Property Value Increases

Calgary’s real estate market has been on the rise, and 2025 is shaping up to be an exciting year for both buyers and sellers. According to the latest property assessment data from the City of Calgary, the value of residential properties has seen significant increases over the past year. If you’re thinking about buying or selling a home in Calgary, understanding these changes is key to making the best decisions in this growing market.

Single-Family Homes Are Worth 14% More

Single-family homes (detached houses) in Calgary have increased in value by 14% compared to 2024. The median price of a single-family home has risen to $697,000, up from $610,000 in 2024.

Why Is This Happening?

• High Demand: Calgary continues to see strong demand for single-family homes. As the city grows, many people are looking for more space and prefer detached homes.

• Low Inventory: There aren’t enough homes on the market to meet the demand, so prices naturally go up.

• Strong Economy: Calgary’s stable economy and population growth further drive the demand for homes.

What This Means for Sellers

If you own a single-family home, this price increase is great news. The current market conditions make it a prime time to sell your home at a higher price. However, remember that the market can be competitive, so pricing your home right and presenting it well will give you the best chance of a quick sale.

What This Means for Buyers

For buyers, this increase in property values means you may need to adjust your budget or expectations. Homes are more expensive than last year, but there are still great opportunities to find your dream home. Working with a real estate agent can help you navigate the market and find a property that fits your needs and budget.

Condo Prices Have Jumped by 22%

Condominiums in Calgary have seen an even bigger increase in value—up by 22% compared to 2024. The median price for a condo in Calgary is now $359,000, up from $295,000 last year. This increase reflects a growing demand for condo living, especially in Calgary’s downtown and surrounding areas.

Why Are Condos Becoming More Popular?

• Affordability: Condos are often more affordable than single-family homes, making them a great option for first-time buyers or those looking to downsize.

• Low Maintenance: Many buyers prefer condos because they require less maintenance than houses, which is ideal for busy professionals or retirees.

• Location: Condos are often located closer to amenities like public transit, shopping centers, and entertainment, making them attractive to buyers looking for convenience.

What This Means for Sellers

If you own a condo, now is a great time to sell. Prices have risen significantly, and with more people interested in buying condos, you may be able to sell for a great price. However, competition may be high in areas with many available condos, so it’s important to make sure your condo stands out with excellent presentation.

What This Means for Buyers

For buyers, condos remain a more affordable option compared to single-family homes, but they are also increasing in price rapidly. This means you’ll need to be proactive and move quickly if you see a condo that fits your needs and budget. Having a good realtor on your side can help you stay ahead of the competition and make an informed decision.

So, What Does This All Mean for You?

Whether you’re thinking about buying or selling a property in Calgary, here’s a quick summary of what’s happening in the market:

• For Sellers: If you own a home or condo, now may be a great time to sell. Property values are up, so you could sell your home for a higher price than last year.

• For Buyers: Prices are higher than in 2024, but the market still offers opportunities. Be ready to act quickly, and consider all options, including condos, which have also seen strong price increases.

How to Navigate the Calgary Market in 2025

The key to success in the current market is having the right guidance. Whether you’re buying or selling, working with a knowledgeable realtor who understands Calgary’s market trends can make all the difference.

I’m here to help you understand the market, find the best properties, and negotiate the best deals. If you’re ready to explore your options, feel free to reach out—I’m here to guide you through every step of the process, whether you’re buying your first home or selling your current property.

Calgary, Chestermere, and Surrounding Areas Real Estate Market Overview: Key Insights for 2024

As 2024 draws to a close, Calgary and its surrounding communities, including Chestermere, have experienced another strong year of real estate growth. This blog provides a detailed, easy-to-follow breakdown of the key trends, pricing, and market conditions that defined the year. Whether you’re a buyer or seller, here’s what you need to know about the Calgary real estate market in 2024.

1. Calgary Real Estate Market Highlights for 2024

• Sales Performance:

  • A total of 1,322 sales were recorded in December, marking a slight 3% decline compared to 2023.

  • However, this figure was nearly 20% higher than long-term trends, indicating sustained market activity.

  • Sales in 2024 were nearly equal to those of last year, with higher-priced homes seeing gains that offset lower-priced homes' pullbacks due to limited supply.

• Inventory Levels:

  • December ended with 2,989 units available, showing a significant improvement from the previous year.

  • While still below long-term trends, inventory levels were much higher than last year, thanks to increased new listings and rental choices.

• Price Trends:

  • Home prices stabilized in the second half of the year after sharp increases in spring 2024.

  • Overall, benchmark prices increased by 7% in 2024, with some property types seeing higher growth.

2. Detached Homes in Calgary

• Sales Growth:

  • Detached home sales were particularly strong for properties priced over $600,000, due to easing lending rates.

  • Inventory improved within city limits, although conditions varied across districts.

• Price Growth:

  • Detached home prices increased by 11% on average in 2024, with the North East and East districts seeing the highest price growth (above 10%).

  • Much of the price increase occurred during spring when supply was exceptionally low.

3. Semi-Detached Homes

• Market Shifts:

  • With limited supply in detached homes, many buyers turned to semi-detached properties.

  • Sales increased by 5% in 2024, and new listings helped balance the market by the fourth quarter.

• Price Trends:

  • The annual benchmark price for semi-detached homes rose by 11%, averaging $669,042.

  • Price growth was most significant in the North East and East districts, where increases exceeded 15%.

4. TownHomes

• Sales Insights:

  • Row home sales reached 4,647 units, a 2% increase compared to last year.

  • Sales were supported by an 18% rise in new listings, which provided more options for buyers.

• Price Increase:

  • The benchmark price for row homes rose by 14% across Calgary.

  • Significant price growth was seen in the North East and East districts, where prices grew by over 20%.

5. Apartment Condominiums

• Sales Activity:

  • Apartment sales slowed by 4% compared to last year, but with 7,568 transactions, it still marked the second-highest year on record.

  • More new listings helped shift the market toward more balanced conditions in the second half of the year.

• Price Growth:

  • Despite some late-year price adjustments, the annual benchmark price for apartments rose by 15%.

  • The North East, East, and South districts saw price growth of over 20%.

6. Regional Insights: Airdrie, Cochrane, Okotoks, and Chestermere

• Airdrie:

  • Sales in Airdrie reached 1,951 units in 2024, a 4% increase from 2023.

  • Improved inventory levels in the second half of the year helped balance the market, easing price pressure.

  • The average benchmark price rose by 8%, with the most significant growth in higher-density homes.

• Cochrane:

  • Cochrane favored sellers for most of the year, but by the last quarter, new listings improved inventory levels.

  • The benchmark price for homes in Cochrane rose by 9%, averaging $565,808.

• Okotoks:

  • Okotoks saw new listings rise by 16%, contributing to nearly 8% growth in sales.

  • Tight market conditions pushed benchmark prices up by 8%, with the most significant price increases for semi-detached and row-style homes.

• Chestermere:

  • Chestermere, located just east of Calgary, experienced steady demand throughout 2024.

  • The market saw an increase in new listings, helping balance supply and demand, and pushing prices in line with Calgary’s broader market trends.

  • Although Chestermere offers a quieter lifestyle than Calgary, it remains a popular choice for buyers looking for access to the city and a suburban environment.

7. Looking Ahead: 2025 Outlook

• Supply and Demand:

  • Supply will continue to be a critical factor in 2025. The market’s direction will depend on the types of properties being listed and how demand holds up amid potential economic changes.

• Market Forecast:

  • CREB® will release its 2025 forecast report on January 21, offering insights into the potential risks and expectations for the market in the coming year.

Final Thoughts:

The Calgary real estate market in 2024 was defined by strong sales and price growth, driven by increasing inventory, population growth, and shifting demand across various property types. Whether you’re looking at detached homes, semi-detached properties, row homes, or condos, there were opportunities across all sectors. Chestermere also saw consistent demand, making it an attractive alternative for those seeking a quieter lifestyle with easy access to Calgary. As we head into 2025, the market will continue to evolve, making it important for both buyers and sellers to stay informed and prepared for the changing conditions.

Feel Free to Reach Out

If you have any questions or need guidance, don’t hesitate to get in touch. I’m here to help you navigate the Calgary real estate market and make informed decisions with confidence.

Why People Are Moving to Calgary: Real Estate Opportunities You Don’t Want to Miss in 2025

Calgary’s real estate market is on fire, and it’s no surprise why. With a surge of people moving from across Canada, the city is booming with opportunities for homebuyers, sellers, and investors alike. If you're thinking about making a move, now is the perfect time to take advantage of Calgary’s growing population and thriving real estate market. Here’s why people are flocking to Calgary, and how you can seize the real estate opportunities that come with it in 2025.

1. Why Are People Moving to Calgary?

Economic Boom: Calgary’s economy is thriving, with key industries such as energy, technology, and construction offering numerous job opportunities. Many people are relocating to Calgary to benefit from these growing sectors.

Affordable Living: Compared to cities like Toronto and Vancouver, Calgary offers a much more affordable cost of living—especially when it comes to real estate. This affordability makes it an attractive place for those looking to own a home without breaking the bank.

High Quality of Life: From stunning natural landscapes to a vibrant community life, Calgary offers a wealth of recreational activities and a family-friendly environment that draws people looking for a better lifestyle.

Lower Taxes & Incentives: With lower taxes and government incentives, Alberta is financially appealing for both individuals and businesses, making it an attractive destination for people to relocate.

2. Where Are People Coming From?

The population influx to Calgary is substantial, with the majority of newcomers coming from:

• Ontario: Around 42% of people moving to Calgary are from Ontario, seeking better job prospects and affordable living.

• British Columbia: About 30% of new residents hail from British Columbia, where high real estate prices are pushing people to look elsewhere.

• Other Provinces: The remaining 28% are relocating from various other provinces, showing just how wide-reaching the attraction to Calgary is.

3. How Calgary’s Population Growth is Shaping the Real Estate Market

As more people move to Calgary, the demand for both homes and rental properties is skyrocketing. This demand is driving up home prices, increasing competition, and reducing available inventory. With fewer homes on the market, properties are selling faster, and rental demand is strong as many newcomers choose to rent first before buying.

4. Real Estate Opportunities for Buyers

Rising Home Prices: The influx of people moving to Calgary is pushing home prices higher. Buyers looking to purchase in 2025 should act fast to secure properties before prices rise further.

Limited Inventory: With fewer homes available, buyers need to be prepared to make competitive offers. Multiple offer situations are becoming more common, so moving quickly is key.

Interest Rates: While interest rates are still relatively low, they may rise in the coming months. Buyers should act now to lock in favorable rates while they last.

Popular Neighbourhoods: Calgary boasts a wide variety of neighbourhoods that are in high demand. With so many attractive areas to choose from, buyers should act quickly if they have their eye on a particular location.

5. Real Estate Opportunities for Sellers in 2025

Seller’s Market: With the growing demand and limited inventory, sellers are in a prime position. Homes are selling faster, and many are receiving multiple offers, which leads to higher sale prices.

High Return on Investment: As home prices continue to rise, sellers can expect significant returns if they list their properties in 2025. It’s a great time to take advantage of the competitive market.

6. What Investors Should Know

Rising Rental Demand: With more people moving to Calgary, the demand for rental properties is increasing. Whether you're looking to invest in long-term rentals or short-term properties, now is a great time to capitalize on this demand.

Capital Appreciation: As the population grows and home prices rise, investors can expect to see strong capital appreciation. Calgary continues to be a prime location for real estate investment.

7. What Buyers, Sellers, and Investors Should Do in 2025

• Buyers: Be ready to act quickly, make competitive offers, and explore various neighborhoods to find the best deals.

• Sellers: Take advantage of the strong demand and favorable market conditions to list your property for top dollar.

• Investors: Focus on high-demand areas and emerging neighborhoods for long-term growth and high rental returns.

8. Best Neighborhoods to Watch in 2025

• Downtown Core: Neighborhoods like Beltline, Killarney, and Marda Loop will remain highly sought-after due to their central location and amenities.

• Suburban Areas: Areas like Airdrie, Chestermere, and Cochrane offer more affordable housing options for buyers and investors.

• Emerging Communities: Neighborhoods such as Seton and Symons Valley will continue to grow, making them prime spots for long-term investment.

9. Final Thoughts

With a growing population, a thriving economy, and a high quality of life, Calgary’s real estate market is poised for another prosperous year in 2025. Whether you’re a buyer looking to get into the market, a seller hoping to take advantage of rising prices, or an investor seeking long-term opportunities, now is the time to act.

Calgary’s real estate market is full of potential, and those ready to make a move will find plenty of opportunities in this exciting, fast-growing city.

Seize the opportunity today! Whether you’re buying, selling, or investing, Calgary’s thriving real estate market is waiting for you to make your move.

Feel Free to Reach Out if you have any questions or need guidance. I’m here to help you navigate the Calgary real estate market and make confident, informed decisions. Don’t hesitate to get in touch.

As of December 15, 2024, new regulations have been introduced to make homeownership more accessible in Canada, including Calgary, Alberta. These changes specifically focus on adjusting the minimum down payment requirements based on the property’s purchase price. Whether you’re buying your first home or upgrading, understanding these new requirements is crucial for planning your next move. Here’s a detailed breakdown of the current down payment rules:

Minimum Down Payment Requirements:

• Homes Priced Up to $500,000:
For homes priced at $500,000 or less, the minimum down payment is 5% of the purchase price.
Example: If you’re purchasing a home for $500,000, your minimum down payment would be $25,000.

• Homes Priced Between $500,001 and $1,499,999:
For homes in this price range, the minimum down payment is calculated by taking 5% of the first $500,000 and then 10% of the remaining amount above $500,000.
Example: If you’re buying a $700,000 home:

• 5% of $500,000 = $25,000

• 10% of $200,000 = $20,000
  Total Minimum Down Payment: $25,000 + $20,000 = $45,000

• Homes Priced at $1,500,000 or More:
For homes above $1.5 million, the minimum down payment is 20% of the purchase price.
Example: For a $1,500,000 home, the minimum down payment is $300,000.

Key Changes Effective December 15, 2024:

• Increased Price Cap for Insured Mortgages:
The maximum property value eligible for mortgage insurance has increased from $1 million to $1.5 million. This change means buyers can now make lower down payments on higher-priced homes, allowing more flexibility when purchasing homes that are priced closer to the $1.5 million mark.

• Extended Amortization Periods:
As of December 15, first-time homebuyers and purchasers of newly built homes can now opt for a longer mortgage amortization period of up to 30 years. This extension helps reduce monthly payments, making it easier for buyers to manage their finances while still investing in a new home.

Additional Considerations:

• Mortgage Loan Insurance:
If your down payment is less than 20%, mortgage loan insurance will be required. These premiums are added to your mortgage and vary based on the amount of your down payment. Be sure to factor this into your total mortgage costs when planning.

• First-Time Home Buyer Incentives:
If you're a first-time homebuyer, take advantage of programs like the enhanced Home Buyers’ Plan, which allows you to withdraw up to $60,000 from your RRSPs to help fund your down payment. This is a valuable tool for first-time buyers looking to minimize their initial costs.

Final Thoughts:

The updated minimum down payment requirements are designed to make homeownership more achievable, even as housing prices continue to rise. Whether you are a first-time buyer or looking to upgrade, understanding these changes is crucial for making informed decisions. These adjustments give buyers more flexibility, especially for those purchasing higher-priced homes.

For more detailed information and the latest updates, visit the Government of Canada’s Mortgage and Housing Information or consult with a mortgage professional to get personalized advice.

If you have any questions, don’t hesitate to reach out – I’m here to guide you every step of the way.

Exciting News for Calgary Homebuyers: 30-Year Mortgage Amortization Now Available!

Great news for Calgary homebuyers! Starting December 15, 2024, first-time buyers and those purchasing newly constructed homes can benefit from the newly introduced 30-Year Mortgage Amortization. This policy aims to make homeownership more accessible and affordable for many.

Who is Eligible for the 30-Year Amortization?

• First-Time Buyers: Those purchasing their first home or who haven’t owned one in the past four years.

• New Home Buyers: Applicable to individuals buying newly constructed homes.

• Mortgage Insurance: Buyers with less than 20% down payment qualify if their mortgage is insured.

Key Benefits

• Lower Monthly Payments: Reduced payments give you more financial flexibility.

• Increased Affordability: Afford a larger home or a better location in Calgary.

• Flexibility for First-Time Buyers: Easier and less stressful transition to homeownership.

• Financial Freedom: Free up funds for other priorities while building equity.

How Does It Work?

The 30-year amortization extends the mortgage term, spreading payments over a longer period.

Example: For a $500,000 home with a 20% down payment:

• 25-Year Term: Higher monthly payments.

• 30-Year Term: Lower payments, making homeownership more manageable.

Things to Keep in Mind

• Total Interest Costs: A longer amortization may result in higher interest paid over time. However, early payments can offset this.

• Long-Term Planning: Consider your financial and personal goals to ensure this option aligns with your needs.

• Market Demand: This change may increase demand for homes, potentially affecting prices. Acting sooner could be advantageous.

Additional Flexibility: Pay Off Your Mortgage Faster

While the 30-year term offers smaller monthly payments, you can choose to pay off your mortgage early through prepayment options. Many lenders allow extra payments or lump-sum contributions, helping you save on interest and shorten the mortgage term without penalties.

Why This is a Game-Changer

The 30-Year Mortgage Amortization offers:

• Affordability: Lower monthly payments make homeownership more achievable.

• Purchasing Power: Access to better home options.

• Flexibility: Ideal for first-time buyers and those balancing their budgets.

• Early Payment Options: The ability to pay off your mortgage faster gives you control over your financial future.

Final Thoughts

This new policy is a fantastic opportunity for Calgary homebuyers, especially first-time buyers and those looking for newly built homes. With options to pay off your mortgage early, you can enjoy both immediate affordability and long-term financial benefits.

Feel Free to Reach Out

If you have any questions or need guidance, don’t hesitate to get in touch. I’m here to help you navigate the Calgary real estate market and make informed decisions with confidence.

Winter Isn’t the Season to Buy? Think Again!

For years, many have believed that winter is the worst time to buy a home. The chilly weather, shorter days, and holiday distractions seem like reasons enough to wait until spring or summer. But here’s the truth: winter can actually be the best time to buy a home in Calgary. Let’s debunk this myth and explore why this season could offer you a golden opportunity in the real estate market.

Less Competition = Better Opportunities

While most buyers flock to the market in the warmer months, winter sees fewer people hunting for homes. This drop in competition means you won’t be caught up in bidding wars. With less demand, you have the advantage to negotiate better terms and potentially get a lower price. In fact, fewer buyers mean less pressure, and you can take your time to find the right home for you.

Motivated Sellers Want to Close Deals

People who list their homes during winter often have urgent reasons for selling, such as job relocations, family moves, or financial changes. These motivated sellers may be more flexible with pricing and willing to negotiate on terms, which could result in a better deal for you. In Calgary, this gives you the chance to snag a home that might otherwise be off the market in busier seasons.

Great Deals and Incentives from Builders

If you’re looking at new construction or pre-construction homes, winter can be a fantastic time to buy. Builders often offer attractive deals and incentives to help move inventory during the slower season. These could include price reductions, upgrades, or other perks that aren’t available in peak buying seasons. Plus, with fewer buyers in the market, builders are often more willing to personalize homes to your taste.

See the Property’s True Winter Performance

Winter gives you a unique opportunity to assess a home’s performance during the colder months. How does the heating system function? Is the insulation up to standard? Is the property properly maintained, especially when it comes to snow removal? With Calgary’s winter weather, these details can make or break your home-buying decision.

Better Mortgage Rates and More Time to Close

While interest rates are always a crucial factor, winter may provide more stable or even favorable borrowing conditions. Some financial institutions might offer promotions or better rates during this time to encourage activity in a quieter market. Additionally, with fewer transactions in progress, lenders may have more time to focus on your application, leading to a smoother process.

Prepare for the Spring Rush

Buying in winter also puts you ahead of the game for the spring market. You can close the deal and settle into your new home before the busy season begins. This means fewer moves during the chaotic months of spring, giving you more time to get comfortable in your new space.

Why the “Winter Slump” Myth Still Exists

The myth that winter is a bad time to buy stems from outdated notions that the market is slow or that homes are less desirable. But in reality, these factors just shift the market dynamics in your favor. Winter buyers are often more serious, and sellers are looking to close deals quickly. This creates a win-win situation where you can get a great property at a better price.

Tips for Winter Homebuyers:

• Work with a Realtor: A local expert can help you navigate the unique challenges of winter buying and identify opportunities others might miss.

• Be Patient and Flexible: Winter markets are quieter, but that means you have more time to make thoughtful decisions. Sellers may also be more willing to negotiate if you show interest without rushing.

• Bundle Up: Don’t let the cold weather deter you. Touring homes during winter gives you a chance to see how a property handles the season’s challenges.

Final Thoughts

Winter in Calgary offers serious advantages for buyers, from motivated sellers and fewer competitors to great deals and incentives. So, if you’ve been waiting for the right time to buy, the winter months may just be the perfect opportunity to make your move. The Brilliant Realty team is still selling 1 home every 24 hours, even in winter.

Ready to find your dream home? Contact me today and let’s make it happen this season.

Interest Rate Drop: What It Means for You

The Bank of Canada has reduced its key interest rate from 3.75% to 3.25% as of December 11, 2024. This is an exciting change, especially for those in the housing market or looking to manage their finances. Here’s how this affects you:

Benefits for Homebuyers

• Lower Monthly Payments: Reduced rates mean smaller mortgage payments, leaving you with more money in your pocket.

• Increased Purchasing Power: You can qualify for a larger loan amount while staying within your budget.

• First-Time Buyers Win: Easier affordability makes it a great time to step into homeownership.

Benefits for Homeowners

• Refinancing Options: Save money by renegotiating your mortgage for lower interest rates.

• Variable Rate Advantage: If you have a variable-rate mortgage, your payments could drop automatically.

• Home Equity Potential: Lower rates can help increase demand and value for your property.

Benefits for Investors

• Cheaper Financing: Investing in real estate becomes more affordable with reduced borrowing costs.

• Improved Cash Flow: Lower interest rates on loans mean better returns on your rental income.

• Market Opportunities: More buyers entering the market could boost demand and competition.

Additional Benefits

• Debt Management: Lower rates can reduce interest on lines of credit and personal loans, making it easier to pay off debt.

• Boost to the Economy: Increased activity in the housing and spending sectors helps stabilize the economy.

• More Options for Buyers: With improved affordability, you have more choices to find the perfect home.

What Should You Do Next?

• Check Your Mortgage: Review your current mortgage terms to see if you can benefit from refinancing.

• Get Pre-Approved: If you’re planning to buy, get pre-approved now to lock in these lower rates.

• Act Quickly: With more people likely entering the market, it’s a great time to take advantage of opportunities before demand rises.

This rate drop creates exciting possibilities, whether you’re buying, selling, or investing. Contact me today for personalized advice on how to make the most of these changes. Let’s turn this into a step toward your real estate goals!

For more information, feel free to contact me.

November 2024 Housing Market Update: Key Insights

As winter approaches, Calgary's housing market is aligning with seasonal trends, showing a cooling in activity compared to the fall months. Here's a detailed look at the November 2024 housing market:

1. Overall Market Trends

Sales:

• 1,797 sales in November, matching last year’s figures and 20% above long-term averages.

• Growth observed in detached, semi-detached, and row homes, while apartment sales declined.

Inventory:

• 4,352 units available, a significant increase from last year’s 3,000 units.

• Despite the improvement, supply levels remain below long-term trends.

Prices:

• Residential benchmark price: $587,900, marking a 4% year-over-year increase.

• Price growth has slowed due to increased supply and heightened demand for affordable housing options.

2. Market by Property Type

Detached Homes:

• Sales growth primarily in homes priced above $600,000, while lower price ranges faced supply challenges.

• Benchmark price: $750,100, a 7% rise compared to last year.

• Market conditions favorable for sellers below $700,000, while higher price ranges are more balanced.

Semi-Detached Homes:

• 173 sales in November, contributing to a 5% year-to-date increase.

• Benchmark price: $675,100, up 8% from last year.

• Seller's market conditions, particularly for homes under $700,000.

Row Homes:

• Sales increased by 3% year-to-date, reflecting strong demand for affordability.

• Benchmark price: $454,200, a 7% increase year-over-year.

• Tight market conditions with just two months of supply. Price increases are slowing compared to earlier in the year.

Apartment Condominiums:

• 429 sales in November, lower than last year but 47% above long-term trends.

• Benchmark price: $337,800, a 9% year-over-year increase.

• Rising supply is easing price pressures, particularly for units priced between $300,000 and $500,000.

3. Regional Market Highlights

Airdrie:

• Supply: 344 units, returning to pre-2020 levels.

• Benchmark price: $543,300, a 4% increase year-over-year.

• Apartment-style homes saw the most significant price growth at 16%.

Cochrane:

• Record-high November sales, with strong activity in detached homes.

• Benchmark price: $568,600, a 4% rise from last year.

• Inventory remains tight, even with an increase in new listings.

Okotoks:

• Limited new listings (47) but strong sales (52) kept inventory constrained.

• Benchmark price: $624,000, up 6% year-over-year.

• Row homes recorded the most significant price gains.

Final Thoughts

This November housing market update showcases the latest trends shaping Calgary’s real estate market. Whether you’re looking to buy, sell, or invest, staying informed is essential to making the right moves.