Calgary Real Estate Market Update

Balanced conditions take pressure off prices

A boost in new listings this month relative to sales caused April inventories to rise to 5,876 units. Although this is more than double the number reported last year, last year’s supply was exceptionally low, and current inventory levels are consistent with what we typically see in April. April sales reached 2,236 units—22 per cent below last year’s levels but in line with long-term trends.

“Economic uncertainty has weighed on home sales in our market, but levels are still outpacing activity reported during the challenging economic climate experienced prior to the pandemic,” said Ann-Marie Lurie, Chief Economist at CREB®. “This, in part, is related to our market's situation before the recent shocks. Previous gains in migration, relatively stable employment levels, lower lending rates, and better supply choice compared to last year’s ultra-low levels have likely prevented a more significant pullback in sales and have kept home prices relatively stable.”

The rise in inventory levels helped the market shift to balanced conditions with nearly three months of supply. However, conditions vary depending on price range and property type. Lower-priced detached and semi-detached properties continue to struggle with insufficient supply, while row and apartment-style homes are seeing more broad-based shifts to balanced conditions.

The additional supply has helped relieve the pressure on home prices following the steep gains reported over the past several years. Benchmark prices for each property type have remained relatively stable compared to last month. However, compared to last year, detached and semi-detached prices are over two per cent higher than last year's levels, while apartment and row-style home prices have remained relatively unchanged.

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

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Special Holidays - May

Upcoming Events in Calgary - May 2025

• Calgary International Beerfest: May 2, 3

• Servus Calgary Marathon Race Weekend: May 24, 25

• Day Out with Thomas at Heritage Park: May 3, 4, 10, and 11

• FascinAsian Film Festival: May 1-4

• Puppets and Planes: Mother's Day at The Hangar: May 11

• Mother's Day Gin-Making Classes – Bottles & Blooms: May 11

• 'Wonder-Foal' Mother's Day Brunch: May 11

• Reminiscing in Tempo - DJD: Until May 11

• The InglewooDIY Festival: May 11-25

• Otafest: May 16-18

• Royal Canadian International Circus Calgary: may 23 - June 1

• Spring Local: A Small Business Market: May 24

Special Mentions

I have had the pleasure to be on the volunteer committee for the Decidedly Jazz Danceworks Black and White ball - 40th anniversary. If you are looking for the party of the year, a fun evening out or a way to treat your clients, please respond to this email.

Article of the Month

Here's What You Need to Know About Down Payments and CMHC in Alberta

Did you know? The average age of a first-time homebuyer in Canada is now 36 years old, reflecting the growing financial challenges younger buyers face in today’s market. In fact, more than 40% of first-time buyers are over the age of 35. Whether you’re just starting your homeownership journey or finally ready to make the leap, understanding down payment rules and CMHC insurance is essential—especially here in Alberta, where opportunities still exist for well-prepared buyers.

Let’s break down what you need to know in 2025.

💰 Minimum Down Payment Rules in Alberta

How much you need to put down depends on the home’s purchase price:

$500,000 or less: Minimum 5% down

$500,000–$999,999:

5% on the first $500,000, and

10% on the portion above that

(Example: For a $700,000 home, the minimum down payment is $45,000)

$1,000,000 or more: 20% minimum (CMHC insurance is not available for homes over $1M)

📥 Where Can My Down Payment Come From?

These sources are allowed:

Savings (TFSA, high-interest savings, etc.)

RRSPs via the Home Buyers’ Plan (up to $60,000 per person)

A gift from an immediate family member

Proceeds from selling a previous home

Not allowed: Borrowed funds or credit card cash advances (unless you're putting down at least 20% and meet lender criteria).

🛡️ What Is CMHC Mortgage Insurance?

If your down payment is less than 20%, you're required to get mortgage default insurance—often called CMHC insurance.

This insurance:

Protects lenders if you stop making payments

Allows you to buy a home with as little as 5% down

Is paid as a one-time premium and added to your mortgage

📊 CMHC Premiums (2024 Rates)

Down Payment Premium Rate

5% – 9.99% - 4.00% of mortgage amount

10% – 14.99% - 3.10%

15% – 19.99% - 2.80%

20%+ Not required

💡 Pro Tips for First-Time Buyers

Get pre-approved early—this helps you understand your price range.

Consider topping up your down payment to reduce your CMHC premium.

Use tools like the First-Time Home Buyer Incentive or RRSP Home Buyers’ Plan to help with costs.

Ready to make your move?

Whether you're 25 or 45, buying your first home is a big step—but you don’t have to take it alone. I’m here to walk you through your financing options, explain the fine print, and connect you with trusted mortgage professionals to make the process as smooth as possible.

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