Have you been hearing whispers about Calgary’s condo market lately—oversupply, flat prices, and new rental rules—and wondered what it really means for buyers, sellers, and investors like you? You’re not alone. With so much happening in the world of real estate, condos are taking center stage in discussions across the city.

In this blog, I’ll break down what’s going on with the Calgary condo market—from the effects of oversupply to the ongoing pricing pressures and the latest rental rules every homeowner and investor needs to know. Stick with me until the end, and you’ll not only have a clearer picture of the market, but also know how to position yourself smartly—whether you’re buying, selling, or renting.

Why Calgary’s Condo Market Matters Right Now

Condominiums have always played a unique role in Calgary’s real estate scene. They’re more affordable than detached homes, attract first-time buyers, and offer low-maintenance living for retirees and busy professionals. But lately, the market has been caught in a tug-of-war between oversupply and demand.

And if you’re thinking—“Jai, why should I care if there’s oversupply?”—well, here’s why:

• Buyers get more options, but also need to be picky about long-term value.

• Sellers may face longer listing times and lower offers.

• Investors must juggle rental rule changes while chasing healthy returns.

Oversupply in Calgary’s Condo Market – What’s Going On?

Calgary has always had a love-hate relationship with condos. Back in the boom days of oil and gas, developers rushed to meet the city’s growing population with shiny new towers. Fast forward to today, and we’re left with a lingering oversupply of condos that just won’t go away overnight.

The Numbers Behind the Oversupply

While detached homes are flying off the market, condos tend to sit a little longer. According to recent market data:

• Condo inventory in Calgary is still higher compared to other housing types.

• Months of supply hover above balanced levels, creating downward pressure on prices.

• New condo projects are being announced cautiously, but existing stock keeps competition stiff.

This imbalance is what’s keeping sellers up at night and giving buyers the upper hand in negotiations.

Why the Oversupply Happened

It’s not rocket science—it’s a combination of factors:

• Economic downturns in energy slowed population growth.

• Developers built ahead of demand, anticipating faster recovery.

• Shift in buyer preference toward detached or semi-detached homes during COVID-19, when space became king.

Now, as the city continues to grow again, condos are slowly regaining traction—but that oversupply still lingers.

Pricing Pressures – The Good, the Bad, and the Ugly

Oversupply naturally brings with it pricing pressures. Sellers can’t ask for sky-high numbers when buyers have 10 other similar units to choose from.

What This Means for Buyers

If you’re a buyer, this is music to your ears. You get:

• Negotiating power – sellers are often more flexible.

• Better value – upgrades, parking stalls, or furniture may be thrown in to sweeten the deal.

• More choices – whether you want a downtown skyline view or a quieter suburban complex, options are plenty.

It’s a buyer’s buffet out there—but only if you know how to pick wisely.

What This Means for Sellers

On the flip side, sellers need to be realistic. Gone are the days of listing high and waiting for offers to roll in. Instead:

• Pricing needs to be competitive from the get-go.

• Presentation (think staging, decluttering, professional photography) is non-negotiable.

• Patience is key—condos simply take longer to sell right now.

My advice? Sellers shouldn’t despair. Yes, you may not get the dream price, but the market is moving. Well-priced, well-presented condos are still selling—just not overnight.

Rental Rules – A Game Changer for Investors

Here’s where things get really interesting. Alongside oversupply and pricing pressures, rental rules are shaking up Calgary’s condo scene.

What Are the Rental Rule Changes?

In recent years, Alberta’s condominium legislation has been updated to make it clearer what boards can and cannot do when it comes to rentals. While every condo board has its bylaws, the province has emphasized:

• Condo boards can’t outright ban rentals (unlike in some provinces).

• They can, however, impose restrictions—like minimum lease terms or requiring board approval.

• Short-term rentals (think Airbnb or VRBO) are a grey area—some boards allow them, others have cracked down hard.

Why This Matters for Investors

If you’re eyeing a condo as a rental property, you can’t just assume it’ll work for Airbnb cash flow or even long-term tenants without checking the bylaws. Always:

• Review the condo corporation’s rules carefully.

• Factor in rental restrictions before making an offer.

• Think long-term—if you’re banking on rent covering the mortgage, make sure it’s actually allowed.

The last thing you want is to buy a unit only to find out your “Airbnb empire” plans hit a legal brick wall.

The Calgary Factor – Why This City is Still Worth Betting On

Now, let’s zoom out for a moment. Yes, we’re talking oversupply, pricing pressures, and rental rules, but let’s not forget one important thing: this is Calgary.

• The city continues to attract newcomers thanks to affordability compared to Vancouver or Toronto.

• Job opportunities are diversifying beyond oil and gas, with tech and logistics gaining momentum.

• Lifestyle perks—mountain getaways, vibrant food scene, and friendly neighborhoods—keep Calgary appealing.

Even with condo challenges, Calgary remains one of Canada’s best bets for real estate investment.

Who Wins and Who Loses in This Market?

Buyers Win

They’ve got leverage, choices, and the potential to snag a long-term deal.

Sellers Need Strategy

Those who adapt quickly with sharp pricing and great presentation still find success.

Investors Must Be Smart

Condos can be excellent rental properties, but only if you’re clear on the rules and realistic about returns.

Practical Tips for Navigating Calgary’s Condo Market

Let me leave you with some actionable advice—because what’s a market update without a roadmap?

For Buyers:

• Don’t rush—shop around, compare, and negotiate.

• Look at condo fees carefully; they can make or break affordability.

• Consider resale potential—ask yourself, “Would I want to buy this unit in 5 years?”

For Sellers:

• Price competitively from day one.

• Invest in professional staging and marketing.

• Be flexible—whether it’s possession dates or negotiating on price.

For Investors:

• Always read the condo bylaws before making an offer.

• Consider long-term tenants over short-term rentals for stability.

• Crunch the numbers realistically—don’t assume overnight profits.

Looking Ahead – Where Does the Condo Market Go From Here?

Will Calgary’s condo oversupply magically disappear tomorrow? No. But the signs of improvement are there. Population growth is rebounding, and affordability is driving demand.

• Short-term outlook: Expect continued pricing pressures, but stable sales.

• Long-term outlook: As the city grows, condos will regain their spot as a go-to choice for buyers and renters.

The smart move? Stay informed, stay flexible, and remember that real estate is a marathon, not a sprint.

The Calgary condo market might be tricky right now, but it’s far from hopeless. Oversupply creates opportunities, pricing pressures reward savvy negotiators, and rental rules, while sometimes frustrating, also protect owners and tenants alike.

If you’ve made it this far, you now have a clear, honest, and practical understanding of what’s happening and how to navigate it. Whether you’re planning to buy, sell, or invest, remember—you don’t have to go at it alone.

As always, I’m here to help you cut through the noise and make smart real estate moves. So, if condos are on your radar, let’s talk—Jai Chaudhary Real Estate bring the market insights, you bring the coffee. Deal?