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Calgary’s Market Shift – The End of Overbidding Era
The Calgary real estate landscape has undergone a notable transformation this summer, and the implications for both buyers and sellers are significant. According to recent analysis from the Calgary Herald, the frenzy of overbidding that characterized our market for much of the past few years has largely evaporated.
A Market Finding Its Balance
Joel Schlesinger, writing for the Calgary Herald, reports on compelling new data from online real estate platform Wahi that examined Calgary market activity from July through September. The findings reveal a dramatic shift: median bids in all but one community fell below list price during this period.
The sole exception? Chinook Park, where the median bid came in at exactly $1 over list. However, as Schlesinger notes, only five transactions occurred in that community over the three-month period, hardly a robust sample size to indicate any real trend.
The New Reality Across Calgary Neighborhoods
What’s particularly interesting is how this shift has manifested across different price points and neighborhoods. A handful of communities, West Hillhurst, Maple Ridge, and Garrison Woods, saw essentially flat bidding, with offers landing within $1,000 of list price. But most neighborhoods experienced substantial gaps between asking and selling prices.
The luxury market saw some of the most significant adjustments. In Rosedale, where the median price hit $1.655 million, homes sold for a median of $90,000 below list. Elbow Park, with its median price around $1.75 million, experienced the second-largest median underbid at $55,000.
But here’s what caught my attention: this isn’t just a luxury market phenomenon. Rideau Park, with a much more accessible median price of $395,000, recorded the third-highest median underbid in Calgary at $50,000. This tells us something important. The market recalibration is happening across all price segments.
What This Means for You
Wahi’s economist Ryan McLaughlin offers an insightful interpretation of this data, noting that “Calgary is moving toward a better balance between buyers and sellers.” He observes that sellers now face increased competition and need to price more strategically to generate buyer interest.
For my buyer clients, this represents a welcome change. You now have genuine negotiating power, particularly in higher-priced neighborhoods. The days of throwing caution to the wind with aggressive over-asking offers have passed, at least for now.
For sellers, this doesn’t signal doom and gloom. It signals the need for strategy. Proper pricing from the outset is more critical than ever. The market will find the right price point, but overpricing in hopes of capturing desperate buyers is no longer a viable strategy.
Looking Ahead
This market evolution actually represents a return to healthier real estate fundamentals. When buyers have room to negotiate and sellers must price competitively, we create conditions for sustainable, rational transactions rather than emotion-driven bidding wars.
Whether you’re looking to buy or sell in Calgary’s luxury market or considering a move elsewhere in the city, understanding these dynamics is essential to making informed decisions. The market hasn’t collapsed by any means.
If you’re considering a move in Calgary’s current market, I’d be happy to discuss how these trends specifically impact your situation and goals.
Source: “Overbidding on properties falls off over summer” by Joel Schlesinger, Calgary Herald
Calgary Set to Lead Canadian Real Estate Market in 2026
Great news for Calgary’s real estate market! A recent report from PwC Canada, completed in partnership with the Urban Land Institute, has identified our city as Canada’s top real estate market heading into 2026. As someone deeply invested in Calgary’s housing landscape, I’m excited to share what this means for buyers, sellers, and investors in our community.
Why Calgary Stands Out
While much of Canada’s real estate sector faces a transitionary period, Calgary is positioned as “a standout” according to the report. The reasons are clear and compelling:
- Strong economic fundamentals that continue to attract businesses and workers
- Record-breaking housing construction over the past three years
- Robust population growth that shows no signs of slowing
- Policy agility that allows our market to respond quickly to changing conditions
Richard Joy, executive director of ULI Toronto, noted in the report: “Calgary remains a standout, with policy agility and supply delivery driving momentum.” This recognition from industry leaders in other markets speaks volumes about where Calgary is headed.
The Broader Canadian Context
To understand Calgary’s advantage, it’s important to look at what’s happening across the country. In Toronto and Vancouver, there’s a significant shift occurring. Developers are pivoting from condos to rental properties. As Joy explains, “the condo reset is steering capital to rental, including asset classes like student housing.”
This transition reflects a broader recalibration in Canada’s real estate landscape. Fred Cassano, partner and national real estate leader at PwC Canada, describes it as “a pivotal moment” where policy momentum is building and collaboration across industries is creating new opportunities.
What This Means for Calgary
For local buyers and investors, Calgary’s position as the top market presents several opportunities:
For Homebuyers: Strong construction activity means more inventory and choice, even as demand remains healthy. Our market offers better affordability compared to Toronto and Vancouver while maintaining strong growth prospects.
For Investors: The combination of economic strength, population growth, and supply delivery creates conditions for sustainable appreciation rather than speculative bubbles.
For Developers: Calgary’s “policy agility”, our city’s ability to adapt regulations and processes, makes it easier to bring projects to market compared to more constrained markets.
Emerging Trends to Watch
The PwC report highlights several trends that will shape real estate in 2026:
Modular and Prefabricated Housing
There’s growing momentum behind factory-built homes as a solution to housing supply challenges. Both federal and provincial governments are backing this approach with significant financing. While the report notes that modular housing is “no silver bullet,” it represents an important tool in addressing housing needs.
Alternative Financing
With traditional bank lending more constrained, private capital sources like real estate investment trusts and private debt are filling the gap. This shift is unlocking opportunities in specialized sectors like student housing and medical offices.
Medical Offices and Storage
As our population ages and cities densify, demand for medical offices and storage facilities is expected to grow, sectors that savvy investors should keep on their radar.
The Bottom Line
Calgary’s real estate market isn’t just surviving the transition affecting much of Canadian real estate, we’re thriving. Our combination of economic strength, smart policy, and robust construction activity positions us for sustained success in 2026 and beyond.
Whether you’re looking to buy your first home, upgrade to something larger, or explore investment opportunities, Calgary offers a rare combination: a dynamic, growing market with better affordability than most major Canadian cities.
As Cassano notes, addressing construction challenges and “embracing new approaches and partnerships” gives us “a tremendous opportunity to build the spaces our communities need and unlock growth throughout the market.” Here in Calgary, we’re doing exactly that.
If you’re considering making a move in Calgary’s real estate market, now is an excellent time to explore your options. The fundamentals are strong, and the momentum is building.
Source: Calgary Herald / Postmedia – “Calgary to be Canada’s top real estate market amid transitionary 2026, report says” by Ben Cousins, November 13, 2025
Calgary Real Estate Market Update: November 2025 – Opportunities in a Shifting Landscape
The Calgary real estate market continues to evolve, presenting distinct opportunities for both buyers and sellers as we move through the final quarter of 2025. The latest data from the Calgary Real Estate Board (CREB®), released November 3rd, reveals a market in transition and one that rewards strategic thinking and informed decision-making.
Market Overview: A Return to Balance
October’s statistics indicate a recalibration toward more balanced market conditions. Inventory levels moderated to 6,471 units, with 1,885 sales recorded during the month. This resulted in a months of supply metric of three-and-a-half months, down from four months in September. This shift represents a healthy middle ground between the extreme seller’s market conditions of recent years and the prolonged buyer’s market Calgary experienced from 2015 to 2019.
Year-to-date sales totaled 20,082 units, representing a decline of nearly 16 percent compared to last year. However, this figure aligns well with longer-term historical trends, suggesting a normalization rather than a concerning downturn. As CREB®’s Chief Economist Ann-Marie Lurie notes, “Improved rental supply and easing rents have slowed ownership demand for apartment- and row-style homes. It is also these segments of the market that have seen October inventories reach a record high for the month.”
The Opportunity Landscape by Property Type
Detached Homes: Balanced Conditions Create Win-Win Scenarios
The detached home market presents perhaps the most balanced opportunities for both buyers and sellers. With 1,012 sales in October and inventory at 2,913 units, the market sits at just under three months of supply, a textbook definition of equilibrium.
For Sellers: Despite year-over-year price adjustments bringing the benchmark to $744,400 (down one percent from last year), year-to-date prices remain over one percent higher than 2024 levels. Quality properties in desirable locations continue to command strong attention. The City Centre district, in particular, has shown resilience with year-over-year gains of nearly two percent.
For Buyers: The current environment offers improved selection without the intense competition that characterized previous years. While prices have moderated slightly, buyers benefit from more time to conduct due diligence and negotiate favorable terms. Strategic buyers focusing on districts with temporary softness, such as the North East (down over five percent year-over-year), may find exceptional value.
Semi-Detached Properties: Stability and Value
Semi-detached homes have demonstrated remarkable stability, with the October benchmark price of $683,100 sitting nearly one percent higher than last year and over three percent higher year-to-date. With 186 sales and 613 units in inventory, the market maintains over three months of supply.
For Sellers: The sustained price growth in this segment reflects continued strong demand for this property type. Sellers can price confidently while benefiting from reduced competition compared to the height of the market.
For Buyers: This segment offers an attractive middle ground between detached homes and multi-family properties, with prices that have held their value while offering more choices than in previous years.
Row and Apartment Condominiums: Prime Buyer Opportunities
The multi-family segments present the most significant opportunities for strategic buyers and investors. Row properties recorded 275 sales in October, with inventory at a record high of 1,054 units, 32 percent above long-term averages. The benchmark price of $431,200 represents a nearly six percent decline from last year.
Similarly, apartment condominiums face buyer’s market conditions with 1,891 units in inventory and a benchmark price of $318,200, down nearly seven percent year-over-year.
For Buyers and Investors: These conditions create exceptional entry points for first-time homebuyers seeking affordability and investors looking for cash-flow positive properties. The improved rental supply mentioned by Ann-Marie Lurie suggests rental rates have stabilized, potentially offering attractive yields for investors who can secure properties at current pricing levels. The North East and South East districts, showing four percent year-to-date declines, warrant particular attention from value-focused buyers.
For Sellers: While the current environment requires realistic pricing strategies, motivated sellers who price appropriately for current conditions can still achieve successful transactions. The key lies in recognizing that buyers now have choices and positioning your property competitively within that landscape.
Regional Market Opportunities
The surrounding communities offer distinct opportunities as well:
Airdrie presents value-focused opportunities with the benchmark price at $520,400, down nearly five percent from last year. With over four months of supply, buyers have negotiating leverage while sellers must be strategic with pricing.
Cochrane shows strength with year-to-date prices up nearly four percent to $585,200. The stable months of supply around four months creates opportunities for both parties to transact on reasonable terms.
Okotoks maintains tight inventory conditions despite recent improvements, with the benchmark price holding steady at $618,600. This stability makes it attractive for sellers while the improving inventory provides buyers with more options than in previous months.
Strategic Considerations Moving Forward
The total unadjusted residential benchmark price of $568,000 represents a decline of nearly one percent from last month and over four percent from last year. However, this adjustment brings pricing more in line with economic fundamentals and long-term sustainability.
For buyers, the current market offers the best selection and negotiating conditions in several years. Patient, well-qualified buyers who can act decisively when the right opportunity presents itself stand to benefit significantly from current conditions.
For sellers, success requires understanding that a balanced market demands competitive pricing and property preparation. Those who adapt to current conditions rather than hoping for a return to previous peak pricing will find ready buyers and successful outcomes.
Conclusion
The Calgary real estate market of November 2025 is neither a dramatic boom nor a concerning bust. It is a market of opportunity for those who understand its nuances. Whether you’re a first-time buyer seeking entry into homeownership, a seller ready to make your next move, or an investor seeking value, the current landscape offers pathways to success.
The key lies in working with knowledgeable real estate professionals who understand the distinct dynamics of each property type and district, and who can help you navigate this evolving market with confidence and strategic insight.
Source: Calgary Real Estate Board (CREB®) Monthly Statistics, November 3, 2025
Calgary Real Estate Investment Outlook: What Winter 2025-2026 Holds for Investors
As we head into the winter months, Calgary’s real estate market is showing signs of maturation after several years of rapid growth. For investors wondering where opportunities lie in the coming season, a recent comprehensive analysis from Canadian Real Estate Wealth by Joanna Gerber provides valuable insights into the shifting landscape.
A Market Finding Its Balance
Calgary’s housing market has transitioned from the breakneck appreciation of recent years into a more measured, balanced environment. The city’s residential benchmark price stands at $572,800 as of September 2025, reflecting a modest 4% decline year-over-year. However, this tells only part of the story. The broader Calgary Region benchmark sits at $613,900, down just 2.8%, suggesting surrounding areas have maintained greater stability.
What’s particularly noteworthy is Calgary’s relative resilience compared to national trends. While the national MLS® Home Price Index dropped 3.4% year-over-year, Calgary’s decline has been more modest, signaling underlying strength in key market segments.
Strategic Focus: Cash Flow Over Speculation
Jesse Davies of Century 21, an experienced investment realtor featured in Gerber’s article, emphasizes a critical shift in strategy for the current market: “For investors, this environment calls for selectivity and disciplined consideration rather than more speculative strategies.”
The focus has moved decisively toward cash flow generation rather than betting on appreciation. Value-focused rental assets, mid-market single-family homes near transit corridors, and small multifamily buildings in established or emerging locations represent the strongest opportunities.
Rental Market Dynamics: More Choice, More Strategy Required
The rental landscape has shifted dramatically. Calgary’s rental vacancy rate jumped from 1.4% in 2023 to 4.6% in 2024, with projections suggesting it could approach 6% in 2025 as new supply continues entering the market.
This increased supply means tenants have more options, and rent growth has cooled considerably. However, demand remains robust in strategic locations such as neighborhoods close to transit, universities, hospitals, and employment centers continue to command stable rents and quick lease-ups.
Where the Opportunities Are
Inner-City Winners
Areas like Beltline, Mission, Inglewood, Bridgeland, and Kensington continue demonstrating resilience thanks to walkability, established amenities, and limited room for new construction. Well-managed condominiums in these neighborhoods should maintain value and potentially see modest gains.
Suburban Stability
Established southwest communities such as Evergreen, Shawnessy, and the mature sections of Mahogany appeal to families and long-term residents, a demographic less sensitive to short-term economic fluctuations. These areas offer stable cash flow potential for rental houses and duplexes.
Satellite City Considerations
The picture is more nuanced in surrounding communities. Cochrane’s benchmark price showed slight year-over-year growth at $589,100, while Airdrie experienced a 4% decline to $531,100. This divergence highlights the importance of understanding local fundamentals rather than making broad assumptions about satellite markets.
Property Types to Prioritize
Davies notes that small multi-unit residential properties, fourplexes, low-rise buildings, and well-located townhome clusters, are positioned to outperform this winter. These assets offer operational scale with flexibility and avoid the oversupply challenges facing large new towers.
Detached and semi-detached homes in mature communities also present relatively safe entry points, benefiting from steady family-oriented demand and limited new construction in established areas.
Conversely, high-rise condos in peripheral or heavily developed districts face headwinds from rising inventory, longer market times, and increased buyer incentives.
The Winter Advantage
Calgary’s real estate market traditionally slows during winter months, creating opportunities for patient, well-capitalized investors. As inventory builds in certain segments, motivated sellers are becoming more flexible, potentially allowing acquisitions below mid-2025 valuations.
The Bottom Line
Calgary is entering winter 2025-2026 as a more balanced market that rewards strategy over speculation. Success will depend on:
- Disciplined execution focused on properties with strong fundamentals
- Location selectivity prioritizing established or transit-oriented neighborhoods
- Comprehensive due diligence including realistic rent assumptions and assessment of nearby competition
- Long-term perspective with patience to weather short-term fluctuations
For investors with the right approach, this market environment presents genuine opportunities to acquire quality assets at fair valuations while positioning for Calgary’s next growth cycle.
Source: Gerber, J. (2024, October 24). Calgary Real Estate Investment Forecast for Winter 2025–2026. Canadian Real Estate Wealth.
