August Calgary Housing Market Update

Calgary Housing Market Update – August 2026

As summer comes to a close, Calgary’s housing market continues to experience slower sales activity and fewer new listings compared with 2025 levels. In August, Calgary recorded 1,660 residential sales, down 16 per cent from last year, while 3,141 new listings came onto the market, nearly 10 per cent fewer than in August 2025.

The slowdown in sales has not been consistent across all price ranges. Homes priced above $1 million continued to record year-over-year gains, primarily driven by detached and semi-detached properties. Improved supply choice at the higher end has supported increased activity in this segment.

Calgary’s inventory eased compared with both July and August 2025, reaching 6,509 units in August. However, the pullback in sales pushed the overall months of supply to nearly four months. Market conditions continue to vary significantly by property type, with apartment-style homes experiencing nearly six months of supply compared with just over three months for detached homes.

The total residential benchmark price was $569,800, similar to the previous month and one per cent lower than August 2025.

Key Trends by Property Type

Detached Homes

• Detached home sales declined by 12 per cent in August to 875 units. Gains in higher-priced sales were not enough to offset the pullback in activity for homes priced below $1 million.
• New listings also declined compared with both July and August 2025, reaching 1,635 units. The steeper decline in sales compared with inventory levels supported a modest monthly gain in inventory and pushed months of supply to over three months.
• Market conditions continue to vary significantly depending on location and price range. Months of supply remained below three months in the North West, West, South and South East districts, while the North and North East districts had more than four months of supply.
• Pricing also varied across the city. The West and City Centre districts recorded year-over-year price gains of more than two per cent, while the North East experienced the steepest decline at more than six per cent.
• The August detached benchmark price was $744,300, similar to July and one per cent lower than last year.

Semi-Detached Homes

• Semi-detached sales eased in August, bringing year-to-date sales to 1,516 units, more than two per cent below last year's level.
• The decline in sales was not matched by new listings, causing the sales-to-new-listings ratio to fall to 56 per cent. While inventory eased slightly from July, it remained nearly five per cent higher than August 2025.
• The steeper monthly decline in sales compared with inventory pushed months of supply above three months, marking the first time this has occurred since January.
• Despite the change, market conditions remain relatively balanced and prices have remained stable. The August benchmark price was $690,500, similar to July and nearly one per cent higher than last year.
• Price gains in the City Centre, North West and West districts helped offset declines in other areas and contributed to the annual increase.

Row Homes

• Row home sales continued to ease compared with last year, contributing to a 15 per cent year-to-date decline.
• Additional new-home supply and increased rental product availability have contributed to some of the pullback in sales activity. Meanwhile, the decline in new listings has helped prevent further inventory growth.
• Months of supply remained near four months for the second consecutive month. Conditions varied across Calgary, with months of supply above four months in the City Centre, North East and North districts, while the West remained near three months.
• Prices continued to ease across all districts. The annual decline ranged from more than 12 per cent in the North East to just over one per cent in the North West.
• The August row home benchmark price was $415,200, down nearly one per cent from July and five per cent lower than August 2025.

Apartment Condominiums

• Apartment-style homes continue to experience the highest level of oversupply in Calgary, with nearly six months of resale supply.
• Increased rental supply is weighing on ownership demand from both first-time buyers and investors, slowing sales activity while supply levels remain elevated. Sales have declined by 26 per cent year-to-date.
• New listings have also declined enough to prevent further inventory growth, but not enough to move the market away from buyer-market conditions.
• Persistently high supply relative to demand has continued to weigh on apartment-style prices. The August benchmark price was $295,400, nearly one per cent lower than July and eight per cent lower than August 2025.
• Apartment prices peaked at $341,300 in August 2024 and are now nearly 13 per cent below that peak.

Surrounding Communities

Airdrie

• Sales continued to trend down in August, contributing to a 13 per cent year-to-date decline. New listings have also pulled back, declining seven per cent over the same period.
• The decline in new listings relative to sales has helped prevent further inventory gains and kept months of supply below four months.
• Despite these conditions, competition from other markets continues to weigh on resale prices. The August total residential benchmark price was $508,800, down one per cent from July and more than four per cent below August 2025.
• Higher-density apartment-style homes are experiencing steeper price declines.

Cochrane

• Cochrane saw improved sales activity in August, contributing to a year-to-date increase of more than five per cent. Much of the sales growth has been driven by semi-detached properties.
• New listings also improved compared with last year. August recorded 148 new listings and 94 sales, bringing the sales-to-new-listings ratio above 60 per cent.
• Inventory edged down compared with the previous month, while stronger sales relative to inventory brought months of supply back down to just over three months.
• Despite the improvement in activity, prices continued to ease. The August total residential benchmark price was nearly one per cent lower than July and two per cent below August 2025.

Okotoks

• Further declines in new listings likely limited sales activity in August, while the sales-to-new-listings ratio remained elevated at 81 per cent.
• The decline in listings contributed to a monthly pullback in inventory, keeping market conditions relatively tight at just over two months of supply.
• Okotoks has experienced lower-than-average supply levels since 2021. However, additional supply choice in competing markets is helping prevent further upward pressure on prices.
• The August total residential benchmark price was $608,400, more than one per cent lower than July and nearly two per cent below August 2025.

Chestermere

• Chestermere continued to experience an imbalance between sales and new listings. The pullback in sales outpaced the decline in new listings, causing the sales-to-new-listings ratio to fall below 30 per cent in August.
• This has contributed to elevated inventory levels. The combination of higher inventory and slower sales pushed months of supply to nine months in August.
• The increased supply relative to demand has continued to weigh on prices. The benchmark price declined from July and was more than one per cent below August 2025 levels.

What This Means to You

For Buyers

• Buyers continue to have greater supply choice in segments experiencing higher inventory, particularly apartment condominiums and some row-home markets. However, conditions vary considerably depending on property type, location and price range.
• Understanding the specific conditions of the market you are considering can help you identify opportunities and make informed purchasing decisions.

For Sellers

• Sellers should be aware that buyers have more options in several areas of Calgary's market. Accurate pricing, strong presentation and an effective marketing strategy remain important for attracting attention and competing with other available properties.
• Detached and semi-detached homes continue to experience relatively balanced conditions, although market conditions can differ significantly by location and price range.

For Investors

• Rental supply continues to influence ownership demand, particularly in the apartment condominium market. Investors should carefully consider current rental conditions, supply levels, purchase prices and long-term market potential when evaluating opportunities.

Looking Ahead

As Calgary moves into the fall market, both sales and new listings remain below 2025 levels, while overall market conditions continue to vary significantly across property types and locations.

Detached and semi-detached homes remain relatively balanced, while higher-density segments continue to experience elevated supply and greater price pressure.

With buyer demand, inventory levels, rental supply and competition from the new-home market continuing to influence Calgary's housing landscape, understanding the trends within each property type and community will remain important throughout the remainder of 2026.

Whether you're considering buying, selling or simply keeping an eye on Calgary's real estate market, staying informed about the latest numbers can help you make more confident decisions.

Source: CREB® August 2026 Housing Market Report.

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