Calgary Real Estate 2026: A Balanced Market with Segment-Specific Dynamics

Calgary real estate 2026 reflects a market in structural transition. After multiple years of supply compression and accelerated price growth, current conditions indicate normalization. Inventory levels have expanded, absorption has moderated, and price performance varies meaningfully by housing type.

The defining characteristic of 2026 is balance.

Rather than broad upward momentum, the market is now shaped by supply distribution, segment performance, and local absorption patterns.

Calgary Real Estate 2026 Market Overview

According to January 2026 reporting from the Calgary Real Estate Board (CREB®):

• Total residential sales: 1,234 (down approximately 14.8% year-over-year)

• Active listings: 4,391 (up approximately 20.6% year-over-year)

• Months of supply: 3.56 (up from 2.51 last year)

• Sales-to-new-listings ratio: 44% (balanced range)

• Benchmark price (all residential): $554,400 (down approximately 4.7% year-over-year)

• Average price: $618,270 (up approximately 2.2% year-over-year)

• Days on market: 53 (up from 41)

A sales-to-new-listings ratio between 40% and 60% is generally associated with balanced market conditions. At 44%, Calgary real estate 2026 no longer reflects the supply-constrained environment observed during 2023 and early 2024.

Calgary Real Estate 2026 by Property Type

Detached Homes

Benchmark price: $724,000 Year-over-year change: approximately -3.4% Months of supply: roughly 2.7

Detached housing demonstrates comparatively lower supply pressure relative to higher-density categories.

Semi-Detached Homes

Benchmark price: $667,000 Year-over-year change: approximately -1% Months of supply: roughly 3.5

This segment reflects near-equilibrium absorption patterns.

Row Housing

Benchmark price: $420,800 Year-over-year change: approximately -5.2% Months of supply: roughly 4.2

Row housing shows moderate supply expansion and slower turnover relative to detached formats.

Apartment / Condominium Segment

Benchmark price: $301,200 Year-over-year change: approximately -7.8% Months of supply: roughly 5.3

The apartment segment reflects the most pronounced adjustment in Calgary real estate 2026. Increased resale listings and construction completions are contributing to extended marketing timelines and moderated pricing.

Economic Drivers

Interest Rate Environment

The Bank of Canada policy rate sits at 2.25% (January 2026). Rate stability has reduced volatility, but borrowing costs remain materially higher than the ultra-low-rate period of 2020–2022.

Affordability continues to influence first-time buyer participation and investor leverage.

Construction and Supply Pipeline

Approximately 26,000 housing units remain under construction in Calgary, with significant concentration in apartment-style formats. As completions continue through 2026 and into 2027, competitive pressure in higher-density segments is expected to persist.

This structural supply expansion explains much of the pricing moderation in Calgary real estate.

For Buyers

1. Negotiation leverage has improved. Longer days on market and higher inventory allow for conditional offers and comparative analysis.

2. Detached supply remains relatively constrained. Competition persists in desirable neighbourhoods and mid-market price bands.

3. Condominiums present potential entry opportunities. Increased supply provides choice and pricing flexibility, but due diligence remains essential.

For Sellers

1. Accurate pricing is decisive. Overpricing results in extended days on market and greater probability of price reductions.

2. Presentation and documentation matter more. Especially in competitive condo and row segments.

3. Neighbourhood performance varies. City-wide averages are less meaningful than hyper-local absorption data.

Investor Outlook

CREB’s 2026 forecast suggests:

• Overall residential pricing expected to remain relatively stable, with slight projected decline.

• Detached housing near flat performance.

• Semi-detached modest growth.

• Apartment-style housing facing continued downward pressure.

CMHC data also indicates rising vacancy rates compared to prior tightening cycles, reducing upward rent pressure.

Calgary Real Estate 2026 Outlook

Forecast projections suggest relatively modest overall price movement in 2026, with variation by property type. Detached and semi-detached categories are projected to remain comparatively stable, while apartment-style housing may continue to experience pricing pressure under elevated supply conditions.

Vacancy data from CMHC indicates higher availability relative to recent tightening cycles, contributing to moderation in rent growth expectations.

These conditions point to a differentiated and supply-sensitive housing environment.

Frequently Asked Questions:

Is Calgary real estate declining in 2026?

Benchmark pricing has softened modestly year-over-year, particularly in apartments and row housing. However, detached and semi-detached homes remain comparatively stable. The market is balanced, not collapsing.

Is 2026 a good time to buy in Calgary?

Balanced conditions and increased inventory provide more negotiating flexibility, particularly in higher-density segments. Buyers should focus on neighbourhood-level data and affordability analysis.

Are Calgary home prices expected to rise in 2026?

Forecasts suggest modest overall movement, with detached homes near flat and apartments potentially facing continued pressure.

How is the rental market affecting Calgary real estate 2026?

Rising vacancy rates compared to recent years reduce upward rent pressure, influencing investor underwriting and condo segment performance.

What property type is most stable in Calgary real estate 2026?

Detached housing currently shows the strongest relative stability in both pricing and absorption.

Final Analysis

Calgary real estate 2026 is characterized by balance, supply distribution, and segment differentiation. The market no longer exhibits uniform upward pressure, nor does it show evidence of broad structural decline.

Pricing outcomes are increasingly influenced by housing type, neighbourhood fundamentals, and inventory levels.

Balanced markets tend to reward careful evaluation of data rather than reliance on generalized trends.

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