Resale demand softens in both Calgary and Edmonton as inventory builds and days on market lengthen

THREAT · Builders & Developers · Resale market

The July resale numbers for Alberta’s two metros point the same direction. In Calgary, CREB data showed row/townhouse sales down 22.9% and apartment sales down 19.8% year over year, with benchmark prices off 6.1% and 8.4% respectively and days on market up roughly 20%. CREB chief economist Ann-Marie Lurie pointed to competition from brand-new communities, particularly in the north. In Edmonton, the REALTORS® Association of Edmonton reported 2,535 July sales, down 11% year over year, with inventory up 17.9% and average days on market stretching to 39 from 33. Board chair Darlene Reid said the combination is “a strong indicator that demand is subsiding.”

Separately, Rentals.ca’s August report has Calgary asking rents down 4.5% and Edmonton down 3.6% year over year, which dampens the investor bid for new multi-family product.

What it means: Builders selling attached and multi-family product are now competing against a deeper, cheaper resale pool and softer rents. Winning in this environment means making the case for new over resale explicitly — warranty, energy performance, resilience features, and move-in incentives — rather than relying on scarcity.