Is It a Good Time to Buy a House in Calgary in 2025? | Insights by Diane Richardson

Is It a Good Time to Buy a House in Calgary in 2025?

Insights for Different Age Groups: Young Adults, Families, and Retirees

Calgary, known for its robust economy, stunning natural landscapes, and dynamic cultural scene, remains a top choice for homebuyers. Whether 2025 is the right time to buy depends on market trends, personal finances, and life stage. Let’s explore the Calgary housing market and provide tailored insights for young adults, families, and retirees.

Calgary Real Estate Market Overview (2025)

The forecast for the Calgary real estate market in 2025 looks promising! According to a recent report by PwC and the Urban Land Institute, Calgary has been named the top real estate market to watch in Canada for 2025. Here are some key points:

Strong Growth Prospects

Calgary is expected to see significant opportunities for both single-family and multi-family residences. The city's growing technology sector is diversifying the economy and encouraging population growth, which is projected to boost the city's GDP by 2.5% in 2025.

Rising Rents and Sales Prices

Despite the fastest-growing residential construction costs among major Canadian real estate markets, rising rents and sales prices have helped residents maintain their margins.

Conversion Projects

The city has allocated $52.5 million to encourage developers to convert vacant office spaces into residential buildings, with 11 conversion projects already approved.

Affordability Concerns

Housing affordability remains a nationwide issue, and Alberta's lack of rent control means average asking rent In Calgary, apartment and Condo rents fell 4.7% annually in October 2024 to an average of $1,995

Market Recovery

The Canadian Real Estate Association (CREA) forecasts a modest recovery in national home sales for 2025, with a 6.6% increase in home sales expected. This recovery is largely due to recent interest rate cuts by the Bank of Canada.

Sources

• PwC Emerging Trends in Real Estate 2025
• Urban Land Institute
• Canadian Real Estate Association (CREA)
• In-migration from other provinces supports sustained demand for housing.

Interest Rates

• Interest rates are moderate, making homeownership appealing compared to renting.
• Potential interest rate hikes later in 2025 could affect mortgage affordability.

Key Considerations for Buying a Home

For Young Adults (Aged 20-35)

Why 2025 Could Be a Good Time:

• Stable job market with growing opportunities in tech and renewable energy sectors.
• Affordable condos and starter homes compared to cities like Toronto or Vancouver.

Best Locations:

• Downtown Calgary: Proximity to employment hubs and amenities.
• Beltline: Vibrant urban lifestyle with affordable condos.
• Bridgeland-Riverside: Trendy, community-focused neighborhood.

For Families (Aged 36-50)

Why 2025 Could Be a Good Time:

• Family-friendly neighborhoods with access to top-rated schools and green spaces.
• Stable property values ideal for long-term investment.

Best Locations:

• Arbour Lake: Recreational lake access and excellent schools.
• Signal Hill: Suburban charm with parks and shopping centers.
• Mahogany: Modern homes with a private lake and strong community spirit.

For Seniors and Retirees (Aged 50+)

Why 2025 Could Be a Good Time:

• Abundance of downsizing options, including bungalows and luxury condos.
• Low property taxes and proximity to healthcare facilities make Calgary ideal for retirees.

Best Locations:

• Aspen Woods: Upscale, quiet community with luxury housing.
• Springbank Hill: Scenic views and peaceful surroundings.
• Lake Bonavista: Lakefront living with a strong community vibe.

Challenges to Consider

• Rising Costs: Construction material and labor shortages may push up home prices.
• Interest Rate Risks: Potential rate hikes could increase mortgage payments.
• Inventory Constraints: Limited supply in popular neighborhoods can lead to competitive bidding.

Final Thoughts

Whether 2025 is the right time to buy a home in Calgary depends on your financial readiness, lifestyle needs, and long-term goals. Calgary's strong economy, diverse housing options, and family-friendly communities make it a top destination for homebuyers.

Takeaway Tips:

• Assess your financial health and readiness for homeownership.
• Research neighborhoods that align with your lifestyle and priorities.
• Lock in favorable mortgage rates early to save on long-term costs.
• Work with a trusted realtor for expert guidance and market insights.

For more insights on Calgary real estate or personalized advice, contact Diane Richardson at 403-397-3706 
















All information herein deemed reliable, but not guaranteed.Copyright © 2024, Diane Richardson, all rights reserved.