Calgary’s housing market remains balanced overall, but the story changes significantly depending on the type of property.

Detached homes continue to hold up relatively well, while apartments are seeing higher inventory and more price pressure. Townhomes are also experiencing softer conditions compared with last year. For buyers and sellers, that means pricing and strategy need to be based on the specific property type, community and price range — not just the overall Calgary market.

Another factor is new housing supply. While construction starts have slowed, more previously started homes are now being completed, especially in the apartment sector. That additional supply could continue to create more choice for buyers and increase competition among sellers.

Interest rates also remain important. With the Bank of Canada holding its policy rate at 2.25%, buyers should focus on what they can comfortably afford today rather than waiting for the possibility of significantly lower rates.

Calgary City Council is also holding a public hearing today on several planning and land-use matters, including proposed changes that could affect future housing and redevelopment in different parts of the city. With recent zoning changes putting more emphasis back on property-specific land-use designations, buyers, sellers and investors should be careful not to assume redevelopment potential without first confirming the current zoning of a property.

The bottom line: Calgary is not one single housing market. Detached homes, townhomes and apartments are behaving differently, and local planning decisions could also influence future supply and redevelopment opportunities. Understanding those differences is key to making a smart real estate decision.

If you are thinking about buying or selling in Calgary and want to know what is happening in your specific community or property type, feel free to reach out.

Colin Morgan - Agent at Charles Real Estate Inc. 403.354.3318