Calgary Real Estate Market Trends: Fall 2024

As we move into the fall of 2024, Calgary’s real estate market is once again evolving. Whether you’re looking to buy, sell, or invest, staying updated on these trends is crucial.

Having the guidance of the top Calgary realtor can significantly impact your ability to make informed decisions in this dynamic market.

1. Supply and Demand: Sellers’ Advantage

 

One of the most prominent trends this fall is the tightening of supply. Inventory levels have dipped, particularly in desirable neighborhoods like Aspen Woods, West Springs, and Altadore. This has led to increased competition among buyers, driving up prices in these hot spots. Families are still prioritizing space, meaning the demand for detached homes remains strong.

For homeowners considering selling, this limited supply offers an opportunity to maximize returns. Listing your property when the competition is low can lead to a faster sale and potentially a higher price. I recommend consulting with a top Calgary realtor to ensure your home is presented in the best light, hitting the market at the right time.

 

2. Tips for Sellers in Fall 2024

1. Stage Your Home for Fall – Creating a warm, inviting atmosphere is key as the cooler weather sets in. Consider cozy touches like neutral-toned throws, soft lighting, and autumnal accents in your home. These elements make potential buyers feel at home the moment they step inside.
2. Optimize Curb Appeal – Calgary’s fall weather can be unpredictable, but maintaining your exterior is critical. Clean up the yard, rake leaves, and add simple seasonal plants or décor. A well-kept exterior can boost your home’s appeal even before buyers walk in the door.
3. Price Strategically – With rising interest rates impacting buyers’ budgets, pricing your home competitively is essential. You don’t want to scare off potential buyers by overpricing, but with the right strategy, you can still achieve a favourable return. An experienced Calgary realtor can help analyze comparable homes and market trends to ensure your pricing aligns with the current conditions.

3. Interest Rates and Affordability

 

The rise in interest rates throughout 2023 and into 2024 has begun to impact affordability for many buyers, particularly in the mid-range market. While this trend may cool demand slightly, especially among first-time homebuyers, the luxury segment remains strong. Higher-end buyers are less affected by interest rates, maintaining a steady demand for luxury homes in areas like Springbank Hill and Britannia.

If you’re thinking about selling a higher-end property, now might be the right time to act. There is still significant demand for well-maintained luxury homes, and buyers in this category tend to be less sensitive to the fluctuations in interest rates.

 

4. Buyer Preferences Shifting

 

Post-pandemic preferences have continued to shape buyer behaviour this fall. Many families are prioritizing space and outdoor living, leading to increased demand in suburban areas like Airdrie, Cochrane, and Okotoks. These areas offer more affordable options compared to the inner city, with ample outdoor space and access to nature.

On the other hand, the condo market in Calgary’s core is slowly rebounding. Young professionals and retirees are drawn back to urban living, with walkable neighbourhoods like Beltline and Mission seeing increased interest. If you’re selling a condo, highlighting nearby amenities and low-maintenance living can be a big selling point. A top Calgary realtor can ensure that your condo stands out in this competitive market.

 

 

5. The Investor’s Market

Calgary continues to be an attractive destination for real estate investors, thanks to a growing population and a stable economy driven by tech and energy sectors. Rental demand remains high, making it an excellent time to consider selling a rental property or investing in one. Neighborhoods like Inglewood and Bridgeland offer strong potential for long-term appreciation and rental income.

If you’re thinking of selling an investment property, I recommend working with an experienced realtor who understands both the selling and rental market dynamics in Calgary.

 

6. Final Thoughts

The fall of 2024 presents a unique window for both buyers and sellers in Calgary’s real estate market. Low inventory levels, shifting buyer preferences, and rising interest rates are all factors that can affect your real estate decisions. If you’re thinking about selling, now might be the perfect time to capitalize on high demand and low supply. As always, having the guidance of a top Calgary realtor can help you navigate these trends and ensure you achieve the best possible outcome.

 

If you have any questions or need assistance with your next move, feel free to reach out. I’d be happy to guide you through Calgary’s ever-changing real estate market.