It’s the question I’m being asked more than any other right now: Are we at the bottom yet? And my honest answer is this—we’re getting close, but not across the board.
Calgary’s real estate market is no longer moving as one. It’s fractured by property type, by supply pressure, and by buyer confidence. And if you’re trying to decide whether to buy, sell, or invest, understanding those differences matters more than timing the headline.
Let’s start with apartment condos, because that’s where the pressure still lives. Supply remains at record highs, with active listings sitting well above historical norms. On top of that, thousands of new purpose-built rental units are about to enter the market. Add CMHC MLI Select projects into the pipeline, and renters suddenly have choices.
When renters have leverage, rents soften. And when rents soften, investors step back. That pullback reduces condo demand even further, creating a feedback loop that continues to pressure prices. In simple terms, the condo market is still adjusting, and unless demand shifts meaningfully, prices may continue to slide.
But here’s where the story changes.
Detached homes and duplexes feel different. In these segments, the correction appears largely priced in. Buyers are still cautious, yes, but they’re active. Well-located, well-priced homes are selling. Not impulsively. Not emotionally. But intentionally. This segment has found a level where buyers and sellers are finally speaking the same language again.
This is what a healthier market looks like. Fewer bidding wars, more rational negotiations, and pricing that reflects fundamentals—not fear or FOMO.
For buyers, this means opportunity—if you’re focused on the right product. For sellers, it means strategy matters more than ever. And for investors, it’s a reminder that not all “deals” are created equal.
We’re close to the bottom. But where you land depends entirely on what you’re buying—and why.
If you want help navigating that decision with clarity instead of noise, that’s exactly what I do.
