Cranston Real Estate Community Reviews

""

Resale inventory levels in the city were up 18.6 per cent year-to-date in October, rising to 1,871 units as new supply continues to enter the market. Housing starts are at record levels in the city, with nearly 21,000 reported between January and September in Calgary by CMHC. The vast majority of new construction has been purpose-built rentals, with just 28 per cent designated as condominium and no single-detached product underway. Given current market conditions, a significant number of those condominiums may be diverted into the rental pool in the future. The surge in rental supply has placed upward pressure on vacancy rates and subsequently, downward pressure on monthly rental rates. With even more inventory coming online, prospective homebuyers have adopted a wait-and-see approach. As a result, back-to-back interest rate cuts in September and October did little to draw buyers back into the condo market. Employment and affordability concerns While in-migration into the city during the pandemic years brought population levels to new highs, many newcomers—particularly younger arrivals—entered the market without employment secured. Unemployment rose to 7.9 per cent in October, as the number of full-time jobs remained well off peak levels. Residential investment has cooled in the city, with investors sitting on the sidelines. Rising costs, both for businesses and households, continue to weigh on affordability and consumer confidence. For cost-conscious consumers trying to keep monthly expenses to a minimum, condominium maintenance fees remain a sticking point, even with more accessible entry-level pricing. Pockets of strength across the city A number of neighbourhoods and price points bucked the downward trend, including homebuying activity in the upper end of the market. Twenty-four condominium apartments sold between $850,000 and $949,000—marking a 33-per-cent increase over year-ago levels. Sales between $1.3 million and $1.499 million rose more than 37 per cent, with 11 properties changing hands year to date, compared to eight in 2024. Growth was also evident across several communities. In the northeast, Cityscape and Pineridge reported year-to-date increases in condominium apartment sales, as did Douglasdale/Glen and Mahogany in the southeast. Bowness and Greenwood/Greenbrier posted gains in the northwest, while Carrington, Huntington Hill and Livingston advanced in the north. In the south, neighbourhoods including Cedarbrae, Chinook Park, Walden and Wolf Willow also posted stronger activity, while Aspen Woods and Currie Barrack reported increases in Calgary’s west end. Alberta’s economy is one of the strongest in the country in terms of GDP growth, with a favourable outlook for 2026. The energy-heavy province continues to benefit from limited exposure to US tariffs. Oil production remains a pillar of economic strength, bolstered by the Trans Mountain Expansion project, according to an October 2025 Royal Bank Insights report. Healthy consumer spending and solid housing activity further support the province’s performance. Rising unemployment remains the primary drag, one that is expected to ease in 2026. Overall, the resilient economic backdrop positions the market for improved homebuying activity in the year ahead. Absorption of existing apartment stock should help steady average prices in 2026 and support a more balanced condominium market.