Calgary Condo Market: Buyer's Paradise

0:00Calgary's condo market is cooling off fast thanks to a wave of new construction flooding the city. Prices for apartments and condos are dropping as supply outpaces demand, with inventory hitting 1,774 units in. March, almost matching the 2008 financial crisis peak. A ton of rental projects and developments are popping up everywhere, creating more choices for buyers and renters alike. This shift has been building for months and shows no signs of slowing into spring. Experts like the Calgary Real Estate Board's chief economist are calling its softer conditions for condos sales while local realtors see a clear, buyers market. Folks are taking longer to snag deals. Properties lingering double or triple the time from last year, and many are opting to rent instead as rate-stip, with all the new purpose-built units and office conversions. Price drops hit hardest in the northeast and southeast, where fresh builds are concentrated compared to milder adjustments in the city center, northwest and south.

1:00This buyer's paradise for condos should stick around through the rest of this year and into 2027, so if you're eyeing a deal, now's the time to strategize your move. Stay informed with Calgary News today, AI-powered updates.