Author: Conrad Aglah

As someone who tracks every angle of Calgary’s housing market—from new construction to investment properties—I’m always looking at what really drives affordability and supply. Recent analysis from our national housing agency highlights just how much development fees can impact the viability of new homes: reducing these fees could make about 14% more residential projects possible nationwide. The upside is especially pronounced for cities like Toronto and Vancouver, where eliminating charges could boost viable projects by around 10%. Notably, Toronto could potentially address half its stated housing supply need with such changes.

Here in Calgary, the numbers put things in perspective: development fees range from roughly $4,000 for a one-bedroom high-rise to about $9,000 for a detached home—well below Vancouver’s $20,000–$33,000 for similar units. Of course, these fees fund critical infrastructure—roads, sewers, administration—so the goal isn’t to drop them to zero, but to strike a balance that supports both community growth and attainable homeownership.

For families and buyers seeking larger, new homes, lower fees could help bring more options to the market, especially as the price gap between new builds and comparable resale homes continues to challenge many. I believe understanding these cost drivers is an essential step toward making smarter property decisions—whether you’re a first-time buyer, investor, or looking to move up. As always, I’m here to break down the numbers and help you see the bigger picture in Calgary’s evolving market.

There’s a common belief that cutting interest rates will solve Canada’s housing affordability issues—but the reality is more complex. Recent central bank research shows that while lower rates can spark a quick jump in home resales (with the full impact appearing 18 to 24 months later), new housing supply doesn’t catch up until roughly two years down the line. That lag means easier borrowing often boosts demand long before we see more homes built, which can actually push prices higher in the short term.

In my work as a REALTOR® and mortgage expert here in Calgary, I see firsthand how strong labour markets—like we have now—can make this effect even stronger. When people feel confident about their jobs and financing is accessible, buyers move fast. But for builders, the process is slower. Higher prices and cheaper financing do help make new projects viable, but construction, permitting, and planning (especially for multi-unit homes) are lengthy undertakings.

So while rate cuts may eventually encourage new supply, the delay means monetary policy alone isn’t a silver bullet for affordability. Smart property decisions require understanding both the immediate impacts and the long game—something I aim to break down in all my educational content and client strategies.

Here’s a quick breakdown of Calgary’s Mid-Q3 real estate trends—insights I find crucial for anyone considering a move, an investment, or a strategic shift in the property market. Sales activity slowed, with 1,660 transactions recorded—about 16% fewer than last year. The residential benchmark price eased to $570K, reflecting a subtle dip of nearly 1%. If you’re watching condos, you’ll note this segment drove much of the softening: apartment benchmarks settled at $295K (down 8% year over year), and row homes averaged $415K after a 5% annual decline. Detached homes held relatively steady, with benchmarks at $744K (off just 1%), while semi-detached properties saw a modest gain, now at $691K.

On the supply side, new listings were at 3,140—down 10% from last year—while total inventory inched down to 6,510 homes. What’s particularly interesting for buyers and investors: supply improved at the higher end of the market, while strong rental conditions have made some would-be buyers hit pause, especially at more affordable price points.

As always, I approach these numbers with a blend of data, financing strategy, and local experience. Whether you’re entering the market, repositioning your portfolio, or just keeping an eye on trends, understanding these shifts is key to smarter real estate decisions in Calgary.

We're seeing early signs of stabilization in Canada's rental market. Average asking rents have settled around $2,000 in early Q3—down about 4% year-over-year, but showing a slight increase of less than 1% month-over-month. This is actually the smallest annual dip since early Q1 2026. For nearly two years, rents declined on a yearly basis, but the last four months have brought steady, incremental gains after a prolonged low. That shift hints at seasonal momentum, likely boosted by back-to-school demand, and a market starting to find its footing.

Purpose-built rentals have shown the most resilience, with average rents down just 3% year-over-year and three-bedroom units holding steady. Condo apartments saw a sharper drop (about 6%), with houses and townhomes down 8%. Nationally, both apartment and condo rents are averaging close to $2,000, marginally up from late Q2. Toronto is especially interesting—rental listings are down 6% year-over-year and rents are edging toward positive territory.

The overall takeaway: we’re not seeing a full recovery yet, but signs point to stabilization. For those navigating decisions—whether you’re exploring your first investment property, planning a move, or simply trying to make sense of changing market dynamics—having a clear, data-driven perspective is essential. My approach always combines up-to-the-minute market analysis with tailored mortgage and investment strategies, so you can move forward with confidence, even as the landscape shifts.