The real estate market in Calgary seems to be entering cooler waters, with a new report detailing less intense bidding wars for prospective home buyers.
Zoocasa looked into the best markets in Canada to buy in before we hit 2025, and Calgary landed in the balanced market territory.
Analyzing which markets provide the best prospects based on the latest sales-to-new listings ratios according to the Canada Real Estate Association’s September 2024 data, Zoocasa used that ratio, which reflects the balance between supply and demand: a higher ratio signals a seller’s market, while a lower one suggests a buyer’s market.
Zoocasa stated in the report that Calgary is traditionally a balanced market; however, YYC did see a cooling trend, with its sales-to-new listings ratio dropping from 75% to 55%, providing more opportunities for buyers and less intense competition.
Our friends up in Edmonton, in contrast, saw an increase from 64% to 70%, reinforcing its position as a seller’s market where demand remains strong.
“According to the Calgary Real Estate Board’s latest October report, Calgary’s benchmark residential price is $592,500—a 4% increase from last year. This uptick accompanies a notable inventory increase of nearly 55% year over year, reflecting a shifting market,” Zoocasa added.
Zoocasa
When it comes to markets across Canada, out of the 25 regions Zoocasa analyzed, eight were buyer’s markets, 12 were seller’s markets, and six areas were balanced, allowing for more equal footing between buyers and sellers.