CREB®’s May report, released June 1, 2026, confirmed that Calgary’s resale market has shifted to balanced conditions overall, with the pressure concentrated in apartments.
Calgary apartment benchmark price: 2026 vs 2025
May 2026 at a glance
| City of Calgary, all homes | May 2025 | May 2026 | Change |
|---|---|---|---|
| Sales | 2,559 | 2,162 | −15.5% |
| New listings | 4,840 | 4,226 | −12.7% |
| Homes for sale (inventory) | 6,744 | 6,752 | +0.1% |
| Months of supply | 2.64 | 3.12 | +18.2% |
| Sales-to-new-listings ratio | 53% | 51% | −2 pts |
| Benchmark price | $588,300 | $570,500 | −3.0% |
| Average days on market | 32 | 34 | +2 days |
Sales of 2,162 were 16% lower than last May and similar to April. New listings fell 13%, not enough to offset weaker sales, so the sales-to-new-listings ratio eased to 51%. Inventory reached 6,752 homes, in line with last May but 11% above long-term trends. Detached inventory, by contrast, was 3% below both last year and long-term trends.
“More supply choice in the new and rental markets has created a more competitive environment for potential buyers,” said CREB’s Chief Economist Ann-Marie Lurie, adding that cost-of-living concerns and slower migration are also weighing on consumers.
By type of home
| Type of home | Sales | Benchmark price | vs. May 2025 | Months of supply |
|---|---|---|---|---|
| Detached | 1,192 | $747,800 | −2.4% | 2.5 |
| Semi-detached | 217 | $691,100 | −1.0% | 2.7 |
| Row | 350 | $422,300 | −6.4% | 3.4 |
| Apartment | 403 | $300,400 | −9.1% | 5.1 |
- Detached: the price rose from $724,000 in January to $747,800 in May. Year-to-date sales slowed 4%, but rose for homes under $600,000 and over $1.5 million. Conditions ranged from a seller’s market in the West to a buyer’s market in the North East (−7% y/y).
- Semi-detached: $691,100, up from $667,000 in January; new record-high prices in the North West and West this year.
- Row: $422,300, over 6% below last year; year-to-date sales down 16%.
- Apartment: 403 sales against 961 new listings, more than five months of supply and a price of $300,400, 9% lower than last May. Year-to-date sales fell nearly 28%.
Spring prices: a seasonal lift, not a turnaround
Unadjusted prices usually rise in spring, and 2026 followed that pattern: the total benchmark climbed from $554,400 in January to $570,500 in May. Most of the gain came from detached homes. Apartment prices are still below January. CREB says that once seasonality is removed, total prices have been relatively stable, because detached gains have offset apartment declines.
Detached: seller’s market in the West, buyer’s market in the North East
Detached new listings reached 2,195 against 1,192 sales, a 54% ratio, lower than in the previous three months. Supply was 2.45 months city-wide, but only 1.77 in the West and 1.85 in the South, compared with 4.18 in the North East. Year over year, the West benchmark of $1,005,200 was almost unchanged (−0.2%), while the North East ($563,900) and East ($489,100) were both about 7% lower.
Row homes
Row home benchmark price by district, change from May 2025
The 350 row sales met 695 new listings, a 50% ratio, and supply rose above three months. The largest annual declines were in the North East and East, over 10%; the West had the smallest at nearly 4%. Prices have still risen since January.
Apartments
With 403 sales against 961 new listings, apartment inventory stayed high and supply pushed above five months. Year-to-date sales fell nearly 28%. Prices have declined in every district, with declines of more than 10% in the North East, North and East.
What it means
- For buyers: this spring gives you much more choice than the last few springs. In condos, use the time to compare buildings and fees; in detached homes on the west side, expect competition.
- For sellers: the seasonal price lift helps, but buyers are cautious about the cost of living. Price to recent sales rather than to hopes for further gains.
- For move-up buyers: selling a condo and buying a detached home has become harder as the price gap widened. Get a realistic value for your condo before committing to a purchase.
- For investors: with rents easing and condo prices falling, base decisions on today’s numbers, not on the rent increases of 2023 and 2024.
