Calgary Real Estate Market Update

Supply growth weighs on home prices

Thanks to gains mostly occurring in the newer communities, inventory levels in July were 6,917 units, reaching levels not seen since prior to the pandemic and higher than long-term trends. While supply has improved across all property types and all districts, the largest gains are occurring in the areas where there has been new community growth.

The additional supply has weighed on home prices in some parts of the city. The total residential benchmark price in Calgary has trended down over the past several months and is currently four per cent below last year’s peak price reported in June 2024.

“Price declines are not occurring across all property types in all locations of the city, and even where there have been declines, it has not erased all the gains made over the past several years,” said Ann-Marie Lurie, Chief Economist at CREB®. “The steepest price declines have occurred for apartment and row style homes, mostly in the North East and North districts, which coincides with significant gains in new supply.”

The rise in supply occurred as sales continued to slow and new listings improved. In July, there were 2,099 sales, a 12 per cent decline over last year, while new listings reached 3,911 units, an over eight per cent increase over last year. In addition to the persistent economic uncertainty due to tariffs, sales and new listings were impacted by no further reductions in lending rates and added competition from the new home market. Apartment-style homes are reporting the highest months of supply with over four months, while both detached and semi-detached homes are seeing conditions remain relatively balanced at just three months of supply.

For a community specific statistical report, please connect with me.

Special Holidays - August 2025

Upcoming Events in Calgary

There are ALWAYS endless things to do in the great city of Calgary. Here is a short list of upcoming events.

• Calgary International Blues Festival: July 31 - August 3

• Taste of Calgary: July 31 & August 1, 2, 3, 4, 5

• BUMP FESTIVAL: August 1-18

• Calgary Fringe Festival: August 1-9

• Chasing Summer Music Festival: August 2-3

• Granary Road's Family Fun Fair: August 2-3

• Tour de Bowness Race and Street Festival: August 2-4

• Heritage Park: Free Live Music in the Plaza: August 6, 13, 20, 27

• Calgary Dragon Boat Race & Festival: August 8-10

• Alberta on the Plate 2025: August 8-17 

• Inglewood Night Market: August 8

• Marda Gras: August 10

• Rogers Charity Classic: August 11-17

• GlobalFest: August 14-23

• Country Thunder: August 15-17

• Carifest 2025: August 15-17

• Expo Latino: August 16

• Chinatown Street Festival: August 16-17

• The Great Outdoors Comedy Festival: August 22-24

• ReggaeFest Calgary: August 29

• Calgary Pride Parade & Festival: August 30-31

Current Listings

Article of the Month

Selling Your Home with a Hail Insurance Claim in Calgary: What You Need to Know

Hailstorms in Calgary are a fact of life and so are the insurance claims that follow. If you're planning to sell your home while an open hail damage claim is still in progress, you’re not alone. Many homeowners find themselves in this exact situation, especially during our infamous hail-prone seasons.

But while listing a home under these circumstances is absolutely possible, there are some important pitfalls to avoid and smart strategies to consider to ensure a smooth transaction.

The Hail Claim Dilemma: Repairs vs. Cash Payouts

After a hailstorm, your insurance provider may offer:

• A cash settlement/payout (which you can keep and use as you wish), or

• The option to proceed with approved contractors to complete the work (roof, siding, gutters, etc.).

If you’re planning to sell your home, it's critical to think ahead before accepting a payout and closing the claim without doing the work.

Why It Matters to Buyers and Lenders

Many buyers in Calgary are understandably cautious about homes with outstanding damage or unfinished repairs, especially when it comes to big-ticket exterior items like the roof or siding. But more importantly, lenders may not approve a mortgage under these conditions. Here’s why:

• Lenders often require the home to be fully insurable and in good condition before they’ll fund a buyer’s mortgage.

• If the repairs haven’t been completed or if you've accepted a cash payout and didn’t use it for repairs. It could jeopardize the sale entirely.

• In some cases, the lender might approve financing only after the work is done and inspected, which can delay or collapse the deal if not handled properly.

Your Best Options as a Seller

Here are a few strategic paths to consider if you have an active hail claim and are preparing to sell your home:

✅ Option 1: Complete the Repairs Before Listing

This is often the safest and cleanest route.

• Ensures buyers (and their lenders) have no concerns about condition or insurance.

• Protects the sale from potential delays or fall-throughs.

• May increase your home’s value and curb appeal with fresh siding, a new roof, or updated gutters.

Tip: Work with reputable contractors approved by your insurance provider and keep records of all completed work.

✅ Option 2: Assign the Insurance Claim to the Buyer

This can be a good solution if you're upfront and structured about it.

• The claim is legally transferred to the buyer at possession.

• The buyer is responsible for completing the repairs and receives the insurance funds directly.

Important:

• The buyer’s lender must agree to this, and not all will.

• A detailed Holdback Agreement is often required. This is where a portion (or all) of the insurance payout is held in trust until the work is completed after possession.

• This requires the assistance of a real estate lawyer and clear communication between all parties.

Avoid This Mistake: Taking the Payout and Not Disclosing It

• If you accept the insurance money and don’t complete the repairs or worse, don’t disclose the damage, you could face legal and financial consequences after the sale.

• Transparency is not only ethical, it’s a legal requirement under Alberta real estate law.

Final Thoughts: Plan Early and Disclose Honestly

If you're navigating a hail claim and preparing to sell:

• Speak with your REALTOR® early to develop a listing and negotiation strategy that works with your situation.

• Consult your insurance provider to understand your claim options.

• Work with a real estate lawyer if transferring the claim or creating a holdback is being considered.

• Disclose everything to buyers to build trust and avoid surprises.

Selling a home with a hail insurance claim may add a layer of complexity, but with the right team and strategy, it can be done smoothly and successfully.

Need guidance? 

I’m happy to walk you through your specific situation, connect you with legal and insurance professionals, and ensure your next steps are clear and well-managed.

Proud Sponsor for Legacy Place Society

Legacy Place Society exists to build family resiliency and legacies to withstand the unique challenges faced by Law Enforcement, Emergency Medical / Fire Fighter Services, 911 Dispatchers, Veterans and Military Personnel. The very nature of daily work within these professions can create emotional and physical havoc and the vicarious trauma, ptsd, operational or occupational stress injuries and the psychological and physiological demands of the profession can become major stressors on the individual and their family.

Know anyone looking to buy or sell? Get in touch!