This is the question I'm getting more than any other right now. And the honest answer is that the right sequence depends almost entirely on what you're selling and what you're buying next. In a market where condos are sitting for months and detached homes are moving in 37 days, those two situations call for completely different strategies.
Why Property Type Changes Everything
A couple of years ago, this was a simpler conversation. The market was tight across the board, homes were selling fast regardless of type, and most people could reasonably buy first and trust that their current home would sell quickly behind them.
That's not the market we're in now. Airdrie's overall months of supply pushed above four in June — the first time that's happened in a spring or summer since before COVID. But that overall number hides a sharp split underneath it. Calgary-wide, detached homes sit at roughly 2.45 months of supply. Condos are sitting at about five months. Airdrie mirrors that pattern. Depending on what you own, you're in a completely different market from your neighbour.
That split is exactly why the buy-or-sell question needs a property-type answer, not a general one.
This is the scenario where I'm most direct with clients: sell first.
If you're in a condo or townhome, you're on the softer end of the market. Inventory is elevated, buyers have choices, and days on market can stretch. You don't want to be carrying a new mortgage on a detached home while your condo sits waiting for the right buyer.
Selling first gives you a firm number to work with — you know exactly what you net from the sale, which tells you exactly what you can spend on the next purchase. Yes, it might mean renting temporarily if the timing doesn't line up cleanly, but it's a much more controlled position than owning two properties in a market where your first one is moving slowly.
There's also something worth being honest about: if you're buying into the detached market — which is healthier and moving faster — going in without a conditional-on-sale clause can make your offer more competitive. But you can only do that with confidence if you've already sold. Going in firm on a detached purchase while your condo is still listed is a risk I wouldn't encourage most people to take right now.
A well-priced detached home in a good Airdrie neighbourhood is genuinely moving. Thirty-seven days on market isn't fast by 2022 standards, but it's predictable enough that you can work with it. If you've done your homework on pricing and your home shows well, you have a reasonable expectation of a sale within four to six weeks.
That predictability opens up a few options. Some clients choose to buy first — they find the home they want, make a subject-to-sale offer conditional on their current home selling, and manage both sides simultaneously. This approach has become more viable than it was in 2022, when sellers wouldn't look at a conditional offer. In the current balanced market, many sellers are open to a reasonable condition period.
Others prefer to list first, get a firm sale, then go hunting. The risk with this sequence in a detached-to-detached move is a temporary gap — either renting short-term or negotiating a longer possession on your sale while you find the right purchase. Neither is a disaster, but both require planning.
The key variable is your equity position. If you have significant equity and solid pre-approval, you have more runway. If you're stretched, selling first is always the more conservative path.
You're in the strongest position of anyone in this market. You're selling from the healthy end and buying into the buyer-friendly end. You can afford to be patient on both sides and be very selective about what you buy.
There's no urgency driving your purchase — you're moving toward a segment with plenty of inventory and real negotiating room. Take your time, look at multiple buildings, review the reserve fund studies, and negotiate on price or conditions. This is the scenario where buyers tend to do best, because they're not rushed on either side.
The Bridge Financing Option
Bridge financing is the tool that lets you buy before you sell — a short-term loan that covers the gap between the purchase of your new home and the proceeds from your current sale. Most lenders in Canada offer it, and it typically runs anywhere from a few weeks to three months.
It can be useful, but it comes with costs and conditions worth understanding before you rely on it. Potential risks include delays in closing the existing home sale, a lower-than-expected sale price, and higher interest costs if the bridge period extends. Lenders also generally require a firm sale on your current property before they'll issue bridge financing — which means you usually can't use it to buy speculatively while your home is still listed.
Bridge financing works best when both closing dates are confirmed and you just need to cover a gap of a few weeks. It's not a strategy for carrying two properties through a slow sale.
The Conditional Offer Approach
One option worth more consideration in this market than it got in previous years is making your purchase conditional on the sale of your current home. In 2022, sellers wouldn't entertain conditions. Today, many will.
A condition period of three to four weeks gives you time to list your home, generate activity, and get a firm offer before your purchase is locked in. It protects you on both sides. The trade-off is that sellers may counter with a shorter timeline or a first-right-of-refusal clause — meaning if another buyer comes along during your condition period, they can bump you out if you don't firm up.
Whether a conditional offer works depends on the specific property and the seller's situation. It's worth exploring as an option, but it's not a guarantee in every case.
One More Thing Worth Saying
Whatever sequence you choose, the pricing of your current home matters more right now than it has in years. Homes that sit for 45 days or more in a balanced market get stigmatized. Buyers start wondering what's wrong. A price reduction after six weeks generates less energy than a well-calibrated price on day one.
Getting that number right from the start is part of the strategy — not an afterthought.
Your property type and neighbourhood make a real difference to the right answer. A quick conversation with Andre about your specific situation usually makes the sequencing a lot clearer — before you do anything else.
Ask Andre