Overall, the greater Calgary region has balanced market conditions that favour neither the buyer nor seller. Prices have stabilized and in many cases there is some early spring upward pressure. Notably in the limited supply category of detached homes for sale under $700,000 within Calgary or a short commute of the city. The one market segment that has an oversupply is apartments within Calgary itself. This is largely due to the sear number of recent new construction completions plus the 18,000+ apartment units that are under construction - many of which are slated to be rentals. Not all market segments and areas within our region are experiencing the same supply and demand influences. Areas to the south of Calgary are seeing relative strong demand while Airdrie and NE Calgary are experiencing the largest drop in price and rise in inventory. This maybe due to the sharp drop in net migration to these areas domestically and internationally perhaps because our government is no longer advertising that “Alberta is Calling”. For those that live in the Greater Calgary region, we know we live in a very desirable safe place vs most other places in the world. We are so fortunate to live were we do.
