Calgary Real Estate Blog

Calgary Housing Market Update – May 2026

Calgary’s housing market continued to shift toward balanced conditions in May, as rising inventory and slower sales activity provided buyers with more options across most property types. While overall market conditions remain stable, significant differences continue to exist between detached homes and apartment-style properties, with detached homes remaining relatively strong and condominiums increasingly favouring buyers.

May recorded 2,162 sales, down 16 per cent from last year, as higher inventory levels and softer demand continue to move the market away from the highly competitive conditions experienced in recent years. Although new listings eased compared to last year, inventory levels remained elevated, giving buyers greater choice and reducing the urgency that characterized the market during the peak migration-driven demand cycle.

Inventory reached 6,752 units in May, matching levels seen last year but sitting 11 per cent above long-term trends for the month. Much of the inventory growth has been concentrated in apartment and row-style homes, contributing to more balanced conditions across Calgary. Overall months of supply remain near three months, a level generally considered balanced.

The benchmark price rose to $570,500, reflecting typical seasonal gains compared to April. However, prices remain approximately three per cent below levels reported one year ago. Price performance continues to vary significantly depending on property type and location.

Key Trends by Property Type

Detached Homes

Detached homes remain the strongest segment of Calgary’s housing market, with approximately two and a half months of supply. Inventory levels continue to sit below long-term trends, helping support price stability. The benchmark price rose to $747,800, with conditions ranging from a seller’s market in the West district to a buyer’s market in the North East district.

Semi-Detached Homes

Semi-detached homes continue to hold steady in balanced market conditions, with months of supply sitting just under three months. The benchmark price reached $691,100, bringing values close to last year's levels. Several districts continue to report price gains, with record-high prices seen this year in the North West and West districts.

Row Homes

Row homes remain relatively balanced overall, with inventory levels increasing and months of supply rising above three months. The benchmark price reached $422,300, reflecting gains from earlier this year but remaining over six per cent below last year's level. The North East and East districts continue to experience the most pricing pressure.

Apartment Condominiums

Apartment-style homes continue to favour buyers, with elevated inventory levels and more than five months of supply. Pricing remains under pressure, with the benchmark price declining to $300,400, approximately nine per cent below last year's level. The largest price declines continue to occur in the North East, North, and East districts.

Surrounding Communities

Airdrie: Balanced conditions continue, with benchmark prices at $515,000, still approximately five per cent below last year's levels.

Cochrane: Strong sales activity has helped support price growth, with benchmark prices rising to $576,400, though still slightly below last year.

Okotoks: Market conditions remain relatively tight, with benchmark prices at $618,900. While prices have softened compared to last year, inventory levels remain below long-term trends.

What This Means to You

If You’re Buying

• Detached homes: Limited supply in some districts means competition can still be strong.

• Row homes: Balanced conditions offer greater flexibility and negotiating opportunities.

• Apartments: Buyers continue to have the most leverage, with elevated inventory and softer pricing.

• Overall, increased inventory levels mean more choice than buyers have seen in recent years.

If You’re Selling

• Detached homes: Remain the strongest segment, particularly in higher-demand districts.

• Semi-detached and row homes: Balanced conditions mean pricing and presentation remain important.

• Apartments: Increased competition requires strategic pricing and strong marketing to stand out.

• Sellers who understand current local market conditions will be best positioned for success.

If You’re Investing

• Apartment and condominium segments may present opportunities due to higher inventory levels and recent price adjustments.

• Detached homes remain a relatively stable segment, though they typically require a higher initial investment.

• Market conditions continue to vary significantly by property type and location, making careful property selection essential.

Overall, Calgary's housing market remains balanced in 2026, with opportunities available for buyers, sellers, and investors alike. Understanding how your specific property type fits within today's market conditions is key to making informed real estate decisions.

Source: CREB May 2026 Housing Market Report

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