If you’ve been keeping an eye on the real estate market lately, you’ve probably noticed the shift. it’s not quite the same fast-paced, multiple-offer frenzy we saw a year or two ago. The reality is, right now is actually a pretty great time to buy a home… but it’s a tougher time to sell.

Let’s break down why.

July Numbers - Benchmark Prices:

• Total Residential: $582,900 (↓ 3.9% YoY)

• Detached: $761,800 (↓ 0.8% YoY)

• Semi-Detached: $697,500 (↓ 1.4% YoY)

• Row: $446,200 (↓ 3.9% YoY)

• Apartment: $329,600 (↓ 4.8% YoY)

• Sales: 2,099 (↓ 11.6% YoY)

• New Listings: 3,911 (↑ 8.5% YoY)

• Months of Supply: Apartments are sitting at almost 4mo, while detached and semi-detached hover around 2.5-3mo.

Why It’s a Good Time to Buy:

More Choice, Less Pressure
Buyers have a bigger selection of homes to choose from than they did during the ultra-competitive years. That means less “rush to offer” and more time to actually compare, negotiate, and find the right property.

Room to Negotiate
While prices in some areas are holding steady, sellers are more open to negotiating on price, possession dates, and even including extras.

Stabilizing Interest Rates
Rates aren’t at historic lows, but they’re not spiking like they were. Buyers who were waiting for some stability are finally getting it, and there’s also the potential for rate cuts later this year, which could make things even more attractive.

Why It’s Tougher to Sell:

Buyers Have More Power
With more inventory on the market, buyers can afford to be pickier. That means homes that aren’t priced right or don’t show well tend to sit longer.

Longer Days on Market
Gone are the days of selling in 24 hours with five offers. Properties are taking longer to move, which can be stressful for sellers with deadlines or tight timelines. On average the last few months, properties can sit on the market for up to 30+ days.

Price Adjustments Are Common
These days, sellers need to be realistic about pricing right from the start and sometimes that means adjusting downward if the home isn’t getting much traction. I know it’s tough when you remember your neighbour sold last year for $50,000 more over ask, but that was a completely different market than the one we’re in now.

Conclusion:

If you’re buying right now, you have more leverage than you’ve had in years, use it to your advantage. If you’re selling, success comes down to strategy: proper pricing, standout marketing, and making your home look its absolute best.

The market is always moving in cycles. Right now, it’s a buyer-friendly moment, but that can (and will) shift again. The key is to understand where things stand today and make your move accordingly.

If your home’s been sitting on the market with little to no action, it might be time to face a tough reality: the price could be too high and the interest has become to low.

Nobody wants to lower their asking price—but sometimes, it’s exactly what’s needed to get things moving. In today’s market, smart pricing is everything. Knowing when (and how) to make a price adjustment can be the difference between a smooth sale and a listing that just sits there.

So… how long should a home be on the market before you start thinking about a price drop? Let’s break it down.

Selling a Home in Calgary? You’re Still in a Good Spot

If you're looking to sell in Calgary, the good news is you're still in a relatively strong market. We’ve seen steady price growth over the last few years, mostly thanks to high buyer demand, low inventory, and a solid local economy.

That said, the market's always shifting. While there’s still not a ton of inventory, things like interest rate changes, economic uncertainty, and seasonal slowdowns have made things more balanced. For sellers, that just means keeping expectations in check is more important than ever.

Is Your Home Priced to Sell?

One of the most common pitfalls sellers fall into is overpricing.

You might love your home (understandably) and have seen neighbours cash out at big numbers—but the market sets the value, not emotions or past sales. And today’s buyers? They’re savvy. They’ve done their homework, scrolled the listings, and they know what’s worth what.

Pricing your home to sell doesn’t mean giving it away. It means positioning it competitively so it stands out and gets strong interest while still aiming for a great return.

Why Pricing Right Matters—Especially Early On:

The first 30 days on the market are your golden window. That’s when your home gets the most attention—online, in buyer alerts, and from agents looking for new options for their clients.

If your home doesn’t get any showings in the first two weeks—or people come through but don’t make offers—it’s usually a sign that the price isn’t hitting right.

Some sellers try to “test the market” with a high price, thinking buyers will just negotiate. But most of the time, that backfires. Overpriced listings get skipped over, and once a home goes stale, it’s hard to spark new interest—even after a price drop.

The better move? Price it right from the jump. That’s what creates buzz, traffic, and (often) stronger offers.

When Should You Rethink the Price?

If your home isn’t getting much love in the first 2 to 3 weeks, it’s time to take a closer look at the price.

Here’s a simple rule of thumb:

• No showings in the first week? You’re probably priced too high.

• Tons of showings but no offers? People are interested, but they’re not seeing enough value at your current price.

In either case, making an early adjustment—ideally within the first month—can give your listing a fresh boost. Done right, it can bring in new interest and even revive attention from buyers who may have passed the first time around.

Dropping the Price Doesn’t Mean Giving Up:

Making a price change doesn’t have to feel like you’re losing. A smart adjustment—backed by showing feedback, recent comparable sales, and good advice—can actually help you get back on track.

With the right timing and strategy, a price reduction can get your home back in front of serious buyers and help you close at a number you’re happy with.

Conclusion:

Calgary is still a strong market for sellers, but smart pricing is everything. If your home’s been sitting without much traction, don’t wait too long to reassess. The sooner you make the right move, the better your chances of attracting serious buyers—and getting the price you’re after.

Thinking about selling? I’d be happy to help. I’ll provide a free home evaluation, walk you through current market trends, and build a personalized strategy to price your home right from day one.

Shoot me a message anytime—let’s make your sale a smooth and successful one.

Whether you’re buying your first home or your fifth, the mortgage process can feel like a lot to take in. But here’s the thing: getting a mortgage doesn’t have to be complicated—especially if you take the time to get pre-approved before you start shopping.

In this post, let’s break down what mortgages and pre-approvals actually are, how they work and why getting pre-approved is the first move you can make when thinking about real estate.

What’s a Mortgage, Really?

A mortgage is simply a loan from a lender (usually a bank, credit union, or mortgage broker) that helps you buy a home. Most homebuyers need a mortgage unless they’re buying a property outright in cash (which sadly isn’t most of us).

You’ll pay back the loan over time—typically 25 or 30 years—with interest. Your payments will include:

• Principal: the amount you borrowed

• Interest: the cost of borrowing that money

• Property taxes and insurance may be rolled in too, depending on your lender

What Is a Mortgage Pre-Approval?

A mortgage pre-approval is kind of like getting a “green light” from a lender. It means a lender has looked at your finances—like your income, debt, credit score, and savings—and decided how much they’re likely willing to lend you.

You'll typically receive:

• A maximum purchase price

• An estimated monthly payment

• A locked-in interest rate (valid for 3 months)

Important: A pre-approval isn’t a guarantee. But it is a strong indicator of your budget and a big advantage when you’re ready to make an offer.

Why Should You Get Pre-Approved?

Here’s why you don’t want to skip this step:

1. You’ll know your budget. No guessing. No heartbreak falling in love with a home you can’t afford.

2. You’ll look serious to sellers. In competitive markets, a pre-approval letter can make your offer stand out.

3. You’ll spot red flags early. If your credit score or debt level is an issue, it’s better to know upfront so you can make a plan.

4. You can lock in your rate. If rates are climbing, pre-approval protects you from short-term increases while you shop.

Insured vs. Uninsured Mortgages: What’s the Difference?

This is a key concept most buyers aren’t familiar with—but it can affect your interest rate, the size of your down payment, and even which lenders will work with you.

Insured Mortgages

An insured mortgage means your loan is backed by mortgage default insurance. This type of mortgage is required if:

• Your down payment is less than 20%

• You’re buying a home under $1.5 million

The insurance protects the lender (not you) in case you default on the loan. The cost is added to your mortgage and paid off over time.

Pros:

• Lower interest rates

• Smaller down payment needed (as low as 5%)

Cons:

• You pay for mortgage insurance

• Insurance not available on homes over $1.5M

Uninsured Mortgages

An uninsured mortgage applies when:

• Your down payment is 20% or more

• You’re buying a home worth over $1.5 million

• You’re buying an investment property

These typically come with slightly higher interest rates and stricter qualification rules.

The Mortgage Stress Test: What You Need to Know

Whether your mortgage is insured or not, all borrowers in Canada must pass the mortgage stress test. It’s basically a way for lenders to make sure you could still afford your payments if interest rates were to rise.

Here’s how it works:

Lenders qualify you using the higher of:

• The Bank of Canada’s benchmark rate (currently 5.25%), or

• Your actual contract rate plus 2%

So even if your lender offers you a 4.89% mortgage, they’ll check whether you can afford payments at 6.89%.

Why this matters:

• It affects how much you can borrow

• It protects you from getting in over your head if rates go up

• It applies to everyone—not just first-time buyers

This is one of the main reasons people are sometimes pre-approved for less than they expected—so it's important to factor in the stress test when budgeting.

What’s new?

• You can now switch lenders at renewal without redoing the stress test

• High debt-to-income borrowers (over 4.5x your income)? OSFI’s (Office of the Superintendent of Financial Institutions) capping how many uninsured loans banks can give out. So you might have fewer options if you’re over-leveraged

What You Need for a Pre-Approval in Canada

Getting pre-approved is usually pretty quick and easy, getting the documents may take some time as you’ll need to provide:

• Proof of income (pay stubs, T4s, job letter, etc.)

• Details on your debts and monthly payments

• Info about your down payment (savings, RRSP, gift from family)

• Government-issued ID

• Consent for a credit check

Some lenders offer online pre-approvals that take just minutes. Others might want a phone call or in-person meeting.

Pro Tip: Work With a Mortgage Broker

Mortgage brokers work with multiple lenders and can help you shop for the best rates and terms. They’re especially helpful if:

• You’re self-employed

• You’ve had past credit issues

• You’re a newcomer to Canada

• You want to compare lenders without doing all the legwork yourself

Best of all? In most cases, their services are free—the lender pays them once your mortgage funds.

Final Thoughts: Don’t Shop Without One

In short: a pre-approval isn’t just helpful—it’s essential in today’s market. It gives you clarity, confidence, and a competitive edge when it’s time to write an offer.

And understanding the difference between insured vs. uninsured mortgages—and how the stress test affects your approval—is key to avoiding surprises down the line.

If you need a solid mortgage broker to walk you through the process or help get you pre-approved, I can recommend my preferred mortgage broker to help get you started!

When it comes time to sell your home, it’s natural to start thinking about renovations or upgrades. Maybe a new kitchen backsplash? Refinished floors? A full bathroom reno? But before you start swinging the hammer, it’s worth understanding that not all upgrades are created equal—especially when it comes to your return on investment (ROI).

Some renovations help generate more interest and make your listing pop online, while others can actually raise your home's market value. The sweet spot? Doing just enough to get buyers in the door and maximize your selling price.

Let’s break down the difference:

Upgrades That Attract Interest (But May Not Add Big Value)

These are the “wow” factors—the updates that photograph well and get buyers excited enough to book a showing. They may not drastically change your home’s appraised value, but they’re often the difference between multiple offers vs. sitting on the market.

1.     Fresh Paint (Especially in Neutral Tones)

• Cost-effective and makes the space feel clean and move-in ready.

• Doesn’t technically raise the appraised value but makes a great first impression.

2.     Light Fixtures & Hardware

• Swapping out dated lights, cabinet handles, and faucets modernizes a space instantly.

• These small touches help listings stand out online.

3.     Landscaping & Curb Appeal

• A tidy yard, trimmed hedges, and even a few planters can make buyers feel good before they step inside.

• Great for attracting foot traffic—first impressions matter.

4.     Minor Kitchen/Bath Updates

• Think: new faucet, cabinet paint, updated lighting.

• Full renos may not pay off, but refreshing these key rooms can go a long way.

Upgrades That Add Market Value

These are the upgrades that appraisers, inspectors, and savvy buyers look for—and are often willing to pay a premium for.

1.     Roof, Windows, and Furnace (Big Ticket Items)

• These aren’t glamorous, but they show the home is well-maintained.

• Buyers often factor the cost of replacement into their offer, so doing them ahead can protect your price.

2.     Kitchen & Bathroom Remodels (To a Point)

• Full remodels can boost value—but beware of over-improving for your area.

• The best ROI comes from mid-range updates that modernize without breaking the bank.

3.     Basement Development (If Unfinished)

• Adding livable square footage usually equals added value, especially in family-friendly areas.

• Make sure it’s done with permits and proper egress windows to count as legal space.

4.     Energy Efficiency Upgrades

• Think: upgraded insulation, new hot water tank, smart thermostat.

• Increasingly appealing to buyers—especially in colder climates—and can impact value.

Conclusion:

Before you invest in any major work, ask yourself:

“Will this help my home sell faster?”

“Will it increase the sale price?”

“Or both?”

If you're not sure, talk to a Real Estate Agent (👋 hi there!). A quick walkthrough can help prioritize what’s worth doing—and what’s best left alone. Sometimes, the best move is not renovating at all, especially in a hot market where homes are selling as-is.