Calgary Real Estate Blog

Calgary Housing Market Update – February 2026

Detached homes tighten while apartments face growing supply

Calgary’s housing market continues to move in different directions depending on property type.

In February, detached and semi-detached homes remained the tightest segments of the market, with less than three months of supply. Row homes moved closer to balanced conditions. Meanwhile, apartment-style condominiums continue to face oversupply, keeping conditions firmly in buyers’ territory.

Citywide, the market remains relatively balanced overall, with three months of supply and a sales-to-new-listings ratio of 55 per cent. Inventory reached 4,822 units, with row and apartment homes accounting for more than half of all available listings. Sales totalled 1,526 units — down 11 per cent from last year — largely due to a pullback in row and apartment sales.

Key Trends by Property Type

Detached Homes
The detached market remains steady, particularly in higher price ranges. Homes priced under $700,000 continue to face limited supply. The benchmark price rose to $734,300, up over one per cent from January but still three per cent below last year. Conditions vary by district, with tighter supply in the West and more inventory pressure in the North East.

Semi-Detached Homes
This segment tightened further, with just 2.4 months of supply — the lowest of all property types. The benchmark price increased to $682,200, up two per cent month-over-month and roughly in line with last year.

Row Homes
Row homes moved toward more balanced conditions, with supply easing to just over three months. The benchmark price reached $423,600, consistent with seasonal trends but five per cent lower than last year. Some districts, particularly the North East and East, are seeing larger price adjustments.

Apartment Condominiums
Apartments continue to face excess supply. With 1,580 units in inventory and more than four months of supply, buyers have significant choice. The benchmark price fell to $298,600, nearly one per cent lower than January and over nine per cent below last year. Supply levels vary widely by district, with the North East experiencing the greatest pressure.

Why This Is Happening

Record housing starts last year — particularly apartment construction, with nearly 18,000 units currently underway — are increasing supply at a time when migration levels have slowed. While many of these units are intended as rentals, they are also impacting the condo resale market.

Lower-density homes, especially detached properties under $700,000, continue to struggle with limited supply, helping support prices in those segments.

Surrounding Communities

• Airdrie: Balanced conditions with prices at $512,200, about five per cent below last year.

• Cochrane: Market shifting toward balance; benchmark at $553,500, down three per cent year-over-year.

• Okotoks: Tighter conditions persist; benchmark at $612,300, up two per cent from January and similar to last year.

What This Means to You

If You’re Buying:

• Detached and semi-detached homes: Expect continued competition, particularly under $700,000. Well-priced homes may move quickly.

• Row homes: Conditions are balanced — offering reasonable negotiating room without extreme competition.

• Apartments: Buyers have strong leverage. More choice and softer prices create opportunities for negotiation.

If You’re Selling:

• Detached and semi-detached: Strategic pricing remains critical, but tighter supply is working in your favour — especially in stronger districts.

• Row homes: Proper pricing and presentation matter as inventory grows.

• Apartments: Expect longer selling times and increased competition. Pricing accurately from the start is essential in a buyer’s market.

Overall, Calgary’s market isn’t slowing across the board — it’s segmenting. Success in 2026 will depend on understanding your specific property type, price range, and location.

If you’re thinking about buying or selling, having a strategy tailored to your segment of the market is more important than ever.

Reeves & Associates eXp Realty

587.200.2728

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