Stampede/Summer Timing Has NOT Changed… BUT Real Estate has!
One of my favourite real estate stories is from when I first got licensed.
I got my licence on July 2, 2015 and was eager to jump right in!!! At the time, John Hripko looked at me and basically said, “Don’t bother coming in until September!”
And honestly? Back then, he wasn’t wrong.
If you can believe it, there was a time in Calgary when many REALTORS® could practically take Stampede and a good chunk of the summer off!!!!! Buyers were travelling, sellers waited until fall and the market slowed right down. Fast forward to today and that’s simply not the reality anymore. I am sure you have seen many many memes of agents on holidays working!!!!!
It all changed in 2020…….with Covid. My business had stalled completely from March 2020 till approx. June 2020 when the spring market started late! Or so we thought……
Fun Fact – it has NOT slowed down since!
Calgary has grown. More people are relocating here from across Canada, inventory moves faster and buyers are active year-round. Sure, Stampede still impacts showing activity and people disappear to cabins, golf courses and vacations for a few weeks, but real estate doesn’t stop!!!
In fact, some of my busiest summers have happened when everyone assumed nobody was looking! Last year – I negotiated 4 deals on one hot summer July day!!!!!!
That’s why I always tell clients not to make decisions based solely on the season. The right buyer doesn’t care if it’s July or November. If the home is priced properly and marketed effectively, it can absolutely sell during the summer months. In fact, many of the MOST serious buyers are shopping during the summer – because they want to be settled BEFORE school starts, before hockey season begins, or (don’t hate me) before another Calgary winter arrives….
What Is Happening In Calgary’s Market Right Now?
The Calgary market has become much more balanced than what we have experienced over the last few years. Inventory has increased significantly, giving buyers more choice and more negotiating power than they had during the frenzy of 2023 and 2024. Inventory in Calgary is sitting around 6,700 homes, while sales are down approximately 16% compared to the same time last year.
Not all property types are behaving the same way though!
Detached homes in desirable areas continue to perform well, while apartment-style condos are experiencing the most competition. Apartment condo prices are approximately 9% lower than they were last year as inventory remains elevated.
What About Interest Rates?
The good news? Interest rates are dramatically lower than they were at their peak.
The Bank of Canada recently held its overnight rate at 2.25%, providing some stability for buyers who were waiting for certainty before making a move.
Many buyers who were sitting on the sidelines are slowly re-entering the market because they feel more comfortable with today’s financing environment.
Summer Holidays Can Create Opportunity
Many sellers worry that vacations will hurt their chances of selling. Sometimes the opposite happens! When fewer homes hit the market because people are travelling, buyers have fewer options to choose from. Less competition can actually help your home stand out!!!
My Advice?
Don’t try to time the market.
BUY when your life says it’s the right time.
SELL when your life says it’s the right time.
The best real estate decisions are usually based on your GOALS, not the calendar.
Yes, people are on holidays.
Yes, Stampede is coming.
Yes, inventory is higher than it was a year ago.
But real estate is still happening every single day across Calgary!
The buyers are out there.
The opportunities are out there.
Sometimes you just need the right strategy to find them.
If you’re thinking about buying, selling, or simply wondering what your options are, I’d be happy to chat….even during Stampede week 😉