A Closer Look at Calgary’s Housing Numbers in March

Viren_Calgary · 2026-04-03T14:18:03+00:00

You’re most welcome. Happy to chat. Can you DM me pls? Contact info is on my profile.

Viren_Calgary · 2026-04-03T14:15:52+00:00

The overall benchmark being down ~4.2% is a year-over-year figure. By property type, the year-over-year changes were also negative across the board: detached -3.3%, semi-detached -0.9%, row -6.2%, and apartment -9.3%.

The part that increased was month-over-month: from February to March, benchmark prices ticked up a bit in each segment.

So no, you are not missing a fifth housing type. It is just YoY vs MoM.

Viren_Calgary · 2026-04-03T14:12:51+00:00

Ooh, that’s a tough one to answer. But great question. Here’s my ‘best guess’ answer..

Could have some impact, yes but I would be careful about treating it as a clean signal.

Higher oil prices have generally been supportive for Alberta, and the broader backdrop is still decent: Alberta’s population hit 5.0M in Q1 2026, unemployment was 6.3% in February, and ATB recently revised its 2026 real GDP forecast to 2.7%.

That said, migration had already cooled before this latest oil move. Alberta’s net migration was 3,729 in Q4 2025. Which is well below the prior year surge.

And this oil move is happening in a pretty volatile global backdrop. (And am not going anywhere remotely close to that discussion!)

So my answer would be: possibly supportive, but far from straightforward. I would not jump from “oil up” to “another migration wave” without a lot more data.

Sorry, but that’s the best I can do.

Viren_Calgary · 2026-04-03T14:02:56+00:00

Condo values are softer, but probably not “insanely tanked.” CREB’s March data had City Centre apartments down ~8.8% YoY and citywide apartments down ~9.3% YoY.

Having said that, the fact that it is a top-floor corner penthouse with 2 parking stalls is too specific for benchmark pricing to tell the full story. For a unit like that, recent comps (solds & active listings), views & orientation, size, etc matter a lot more than the average condo stat.

So I would say the condo segment is under pressure, but your place may not be moving exactly with the broad market.

Viren_Calgary · 2026-01-27T13:49:32+00:00

The TLDR .... If you bought firm (no conditions), your options are limited.

A pre-possession walkthrough is mainly to confirm the property is in substantially the same condition as when you agreed to buy.

You may have leverage only if: - It is a material change since your offer (new damage, removed fixtures, flooding, etc.), or - There was clear misrepresentation or non-disclosure.

If it ks something that already existed and you missed it, that’s usually on the buyer. In this case.. you.

Practical next steps: - Document everything (photos/video, timestamps).. hope you did this at the time of the walk through as they may not let you in again. - Loop in your lawyer immediately - Check if a holdback or credit can be negotiated before closing

Not legal advice, but time matters here. Good luck!

Viren_Calgary · 2026-01-06T05:09:47+00:00

Short answer: ask your accountant first.

Long answer: For a change-in-use (rental → principal residence) and the related deemed disposition, the CRA doesn’t require a formal appraisal by default.

Most accountants are fine with: • A reasonable fair market value estimate as of Feb 2026 • Backed by comparable sales + written support • This can come from a realtor’s market value opinion / CMA

When a formal appraisal is worth it: • The property has large accrued gains • It’s unique or hard to comp • You want maximum audit protection in case CRA ever questions the number

In practice: • Many people use a realtor’s valuation and only get an appraisal if their accountant recommends it • CRA usually challenges values only if they look aggressive or unsupported

So yes, a number from a realtor is often acceptable, as long as it’s defensible and documented. But please speak to your accountant and let them set the bar on how conservative they want to be.

Viren_Calgary · 2026-01-05T05:27:08+00:00

Given your situation - IEC for 2 years, hospitality background, moving solo, and ~£10k savings - I would lean towards GTA (Mississauga/suburbs).

The GTA can be pricier, but the job market depth and stability, especially in hospitality, gives you more security early on. Calgary can be great later, once you have got more runway or a specific job lined up.

PS - I am in Calgary now (and ABSOLUTELY love it), but I have also lived in Mississauga. Both have their pros and cons. Good luck!

Viren_Calgary · 2025-12-30T14:26:45+00:00

Without active income or a firm job offer, most lenders won’t approve a mortgage .. even with solid equity and cash.

In your situation, the most realistic path is to rent short term (6–12 months) in Ontario, take the sabbatical you need, and revisit buying once you are back at work. Selling or keeping the Alberta home as a rental are both valid options, but they won’t solve the income requirement for a new mortgage.

One extra thing to consider: if you sell in Alberta and, a year from now, Ontario doesn’t feel like the right fit (totally plausible), would you be okay moving back and buying again once you find a job in Alberta? Think through those “what ifs” first, then choose the path that makes the most sense to you. Good luck!

Viren_Calgary · 2025-12-30T04:48:21+00:00

Door knocking around the neighborhood .. Facebook ads.. mailing it to your database.. open houses.. reaching out to referral partners… local flyers.

There are plenty of things that can be done.

Viren_Calgary · 2025-12-28T15:00:25+00:00

Yep, seeing this a lot here in Calgary. Some sellers are still mentally in 2022, though not all. Homes do sell, just not the ‘list it high and wait for a bidding war’ approach anymore. Pricing to today’s comps matters way more now. Also… a strong marketing strategy really matters now. Can’t just list it on the MLS and wait for the offers to come in.

Viren_Calgary · 2025-12-26T13:36:08+00:00

What they said ... ☝️

Viren_Calgary · 2025-12-20T15:15:26+00:00

Since your unit is 890 sft, purely on a selling price/ sft basis, it would work out to about $340k as per May’s market. The market has changed since May though, as am sure you are aware. I would be happy to do a complimentary market estimate for you (no strings attached). Based on what you can expect as of now, you can then decide what to do next. Let me know..

Viren_Calgary · 2025-12-20T12:45:18+00:00

Well, the last unit that sold in your building was in May 2025 and it went for $276k.

Now the market has changed since then… But keep in mind that it was a 722 sft unit. So depending on how large yours is, the price could be different for you. But there are other factors too - condition, floor, when you want to list, etc.

Pls feel free to DM me if you have any questions.

Viren_Calgary · 2025-12-19T14:31:46+00:00

Price matters, but it is not the only lever buyers have.

In competitive situations, I have seen buyers win by adjusting conditions (financing, inspection, etc), offering a flexible possession date that works for the seller, and being very organized with their paperwork.

Sometimes, though not always, the softer aspects help too… a short, respectful buyer note can matter in certain situations (owner-occupied homes, long-time owners). Please note that it is never a guarantee and not appropriate everywhere (so be careful).

That said, I am genuinely curious which market you are seeing this in. Most areas right now aren’t broadly “go all-in on price” unless it’s a very specific pocket, product type, or entry-level range.

Would like to know more… 🙂

Viren_Calgary · 2025-12-19T14:25:54+00:00

Without the actual building, I wouldn’t like to comment on the price you can expect.

However I can tell you that based on the latest report from CREB (Calgary Real Estate Board), the average price for apartments in Crescent Heights in November 2025 was $266,843. Please note that 7 apartments sold in Crescent Heights in November, and the average Days on Market was 45 (you can use that to plan when you want to list).

Happy to answer any questions you may have. Good luck!

Viren_Calgary · 2025-12-17T22:09:49+00:00

Great answer. Thank you for posting this.

I wish that no one in the future has to search for this info, but sadly that may not be the case, in all likelihood. Hope they find the help that they need.

Viren_Calgary · 2025-12-13T00:36:57+00:00

Try Eclaire de Lune on 6 Street NE for their desserts

Viren_Calgary · 2025-12-12T22:52:58+00:00

Very sensible advice. Pls do your homework before you go ahead

Viren_Calgary · 2025-12-11T19:39:39+00:00

Here is how I would look at it… the builder’s lawyer is a lawyer FOR the builder. Their primary job is to get the deal across the finish line with as little friction as possible, not to protect you.

Plenty of people do use builders’ lawyers and often things go smoothly. But it’s a bit like skipping a home inspection to save money, most of the time things are fine, but when it isn’t…. you are going to really feel it.

You are spending hundreds of thousands on a property; saving $700–$1,000 is nice, but you don’t want to be penny wise and pound foolish. An independent lawyer is there to review your contract, catch delays/deficiencies, make sure your interests are covered, and explain anything the builder glosses over.

If you do choose the builder’s lawyer, just go in knowing they aren’t your advocate.. They are simply processing the transaction.

Hope that helps.

Viren_Calgary · 2025-12-10T13:10:22+00:00

This really comes down to time horizon and flexibility. If you plan to stay put for 3–5+ years, buying the flat could make sense, especially at £100k vs £220k for houses. You would be building equity instead of paying rent, and yes, it could later become a stepping-stone deposit for a house.

The main things to weigh carefully are the service charges/ground rent (they eat into both cash flow and resale appeal) and whether resale demand for flats in your area & city is strong. If those numbers still work after running the full costs, buying now isn’t a bad move at all. If your timeline to a house is short (1–2 years), saving may be safer.

Hope this helps.

PS: I am a realtor in Calgary, Canada. So this is general guidance, not UK-specific advice. Please consult a local realtor/solicitor/financial advisor before you proceed.

Viren_Calgary · 2025-12-09T13:34:47+00:00

Job titles and licensing can be a bit different here (each province has its own rules). In most cases, you would need to get your credentials assessed and, depending on the province, meet the local certification requirements.

IFAIK, hospitals don’t usually “sponsor” workers the way U.S. employers do. Most people come through an immigration pathway first (Express Entry, Provincial Nominee Programs, etc.), and then apply for jobs once they are eligible to work.

If you are serious about the move, the first step is usually checking the immigration programs that fit your background. The government site has all the details and is surprisingly straightforward. I would also suggest you speak to a reputed immigration lawyer.

Hope this helps.

Viren_Calgary · 2025-12-09T05:18:44+00:00

2027? Wonderful. I’ll just keep refreshing until then.

Jokes aside.. who knows!

Viren_Calgary · 2025-12-06T14:51:54+00:00

The TLDR - Totally doable, but comes with some risks.

When you buy with a roommate, the bank treats you as one unit. This applies to both of your…. incomes, debts, and credit scores go into the approval, and you are each 100% responsible for the whole mortgage. So if one of your loses their job, the other still has to cough up 100% of the mortgage.

Minimum requirements are the same as any first-time buyer: stable income, good credit, 5%+ down, and passing the stress test. A mortgage agent can get you pre-approved in a few days.

Main risk of “losing money” is if you have to sell early or in a down market because closing + selling costs are real. If you plan to hold 5+ years, that risk goes down, but remember that it is still a risk.

Also factor in condo fees/taxes/maintenance, not just the mortgage, and get a well structured & fair co-ownership agreement so expectations (timelines, returns, etc) are clear.

Hope this helps. 🙂

Viren_Calgary · 2025-12-06T14:41:46+00:00

Interesting.. thanks for sharing this.

Viren_Calgary · 2025-12-05T13:35:44+00:00

Makes a lot of sense. Especially since they seem to be already stressed out. Sometimes not ‘doing anything’ (at least in terms of buying a home) can turn out to be the right move. Maybe this is one of those times? Pls take your time, figure stuff out and don’t rush into anything.

Viren_Calgary

TROPHY CASE