Calgary Real Estate Market Update: Buyer Activity Picks Up in August

The Calgary real estate market is showing some encouraging signs as we move through the second half of August.

The biggest thing I'm watching right now isn't one dramatic week or one particular price range. It's the follow-through.

Buyer showing activity jumped 8% last week and then increased another 2% this week. Sales also moved 6% higher after two softer weeks, while new listings fell 12% week over week.

None of that suggests the market is suddenly taking off. What it does suggest is that demand has strengthened while the pace of new supply has eased. That's a combination worth paying attention to.

Buyer activity is holding up

One strong week of showings can be noise. Two consecutive weeks are more interesting.

After the initial 8% increase in showing activity, buyers didn't disappear the following week. Activity increased another 2%.

Across Alberta, showing activity is also moving closer to 2024 levels and is currently running ahead of 2022 and 2025, although still well below the much stronger activity seen in 2023.

To me, that's an encouraging sign after a quieter start to the summer. Buyers are still active, but we're not seeing the kind of demand that would suggest an overheated market.

Sales are beginning to respond

Showings matter because they can give us an early indication of where buyer demand is heading.

This week, sales gave us some confirmation.

After two softer weeks, sales increased 6% week over week. No individual price range clearly took over, which is actually consistent with the balanced conditions we've been seeing.

Different price points will have stronger and weaker weeks, and the higher end in particular can produce large percentage swings because there are fewer transactions and showings.

That's why I care much more about the overall trend than any single weekly number.

New listing growth cooled

The other important piece is supply.

After a larger increase the previous week, new listings fell 12% week over week.

Fresh inventory is still coming onto the market, but it didn't continue accelerating at the same pace.

When buyer activity and sales improve while new supply moderates, it helps keep the relationship between supply and demand more balanced.

What this means for sellers

For sellers, improving buyer activity is a positive sign, but it doesn't mean every property will sell quickly or that pricing no longer matters.

Buyers still have choices, which makes positioning a property properly from the beginning important.

The homes that are priced appropriately, presented well and marketed effectively are going to be in a better position to capture the buyers who are active.

If you're considering selling, I wouldn't make the decision based on one week's numbers. I'd look closely at what's happening in your specific neighbourhood, property type and price range.

What this means for buyers

For buyers, the market still appears to offer opportunities to be patient and selective.

Demand has improved, so well-priced properties can still attract attention. But overall conditions don't suggest buyers need to panic or chase every listing.

The important part is understanding the competition for the specific property you're considering. Calgary isn't one single market. Conditions can look very different depending on the neighbourhood, price point and type of home.

The bigger picture

There are also some broader economic signals worth watching.

According to the latest information shared by ATB, Canadian inflation moved back to 3% in July from 2.8% in June, although higher gasoline prices were a major contributor.

Excluding gasoline, inflation was considerably softer at 2.2%. Shelter inflation also slowed to 1.3% year over year, while rent inflation eased to 2.5%.

For real estate, those underlying housing cost numbers are worth watching alongside future Bank of Canada decisions.

My take

I'm encouraged by what we're seeing, but I wouldn't overreact to it.

Buyer activity has held onto its recent gains, sales are beginning to respond, and new supply didn't continue accelerating this week.

That's a healthier combination than simply seeing one number spike.

For buyers and sellers, the bigger takeaway is that the market remains nuanced. Your strategy should be based on what's happening with your specific property, neighbourhood and price range, not just a headline about Calgary as a whole.

If you're thinking about buying or selling and want to understand what these numbers actually mean for your situation, feel free to reach out. I'm always happy to walk through the market with you without any pressure.