The Calgary real estate market continues to move toward more balanced conditions this spring, but the story really depends on what type of property you’re looking at.
Overall sales in April were down about six per cent compared to last year, which honestly isn’t all that surprising. Over the past few years we saw incredibly aggressive demand driven largely by rapid migration into Alberta, low inventory, and buyers feeling pressure to make quick decisions. That urgency has started to settle down a bit as inventory slowly improves across most segments of the market.
What I’m seeing right now is a market that feels much more measured. Buyers are taking their time again. They’re comparing options, negotiating harder, and being more selective overall. In many ways, this is starting to feel like a healthier and more balanced market than what we experienced over the past couple of years.
That said, not all property types are behaving the same way.
Detached homes are still holding relatively strong, especially in areas like the North West, West Calgary, and parts of the South where inventory remains tight. In those areas, we’re still seeing seller-favoured conditions with less than two months of supply available. Benchmark pricing for detached homes sits around $745,400, and while prices have softened slightly from last year, the declines have been fairly modest overall.
On the flip side, apartment-style condos are telling a very different story.
Inventory in the condo market continues to rise and buyers now have significantly more choice than they did a year ago. With over four months of supply in some areas, conditions are clearly favouring buyers. Condo benchmark prices are down nearly nine per cent year over year, with the steepest declines occurring in the North East, East, North, and South East districts.
Row homes and semi-detached properties are sitting somewhere in the middle. Most of these segments are behaving in a relatively balanced way overall, although location still matters tremendously. Some communities are seeing stable pricing while others continue to adjust downward depending on inventory levels and buyer demand.
One thing I continue to remind clients is this: Calgary is no longer moving as one single market. We’re seeing very different conditions depending on the quadrant, community, and property type. A detached home in West Calgary can still feel highly competitive, while certain condo segments are giving buyers far more leverage and negotiating power. As we move deeper into spring, I think the biggest shift compared to the past few years is psychology. Buyers simply don’t feel the same pressure to rush. More inventory has created more breathing room, and that naturally changes negotiating dynamics.
For sellers, pricing and positioning matter more than ever right now. Buyers are still active, but they’re far less forgiving when a property feels overpriced compared to competing options. For buyers, there may finally be some opportunity returning to parts of the market that felt almost impossible to navigate not that long ago.
As always, if you’re curious about what’s happening specifically in your community or property type, feel free to reach out anytime.
Tyler