The Calgary Real Estate Board (CREB) has released its statistics for February, and the data reveals a market that is moving in two very different directions. While we are seeing tighter conditions and competitive bidding in the detached sector, the apartment and condo market is facing a significant oversupply.
If you are looking for a deep dive into the numbers to understand exactly what is happening in your segment of the market, here is the full breakdown.
The Citywide Overview
Overall, Calgary’s market is relatively balanced, sitting at three months of supply with a sales-to-new-listings ratio of 55%. However, looking at the citywide averages hides the volatility between different property types.
Total Sales: 1,526 units (an 11% decline compared to last February).
Total Inventory: 4,822 units (condos and row homes now make up more than half of all inventory).
Benchmark Price: $560,500 (1% higher than January, but 4% lower than last year).
Ann-Marie Lurie, CREB’s Chief Economist, points to a clash between migration and construction as a key driver:
“Slowing migration levels are coming at a time when supply for apartment-style homes is rising. Calgary reported record high starts last year, mostly due to gains in apartment starts where there are nearly 18,000 units currently under construction. While a large share of the units is targeted for rental, this also impacts condo ownership markets.”
1. Detached Homes: The Tightest Sector
Benchmark Price: $734,300
Trend: +1% Month-over-Month | -3% Year-over-Year
Months of Supply: Just under 3 months
The detached market remains the most resilient sector, particularly for homes priced below $700,000, where supply is critically low. While the citywide picture looks balanced, the experience depends heavily on where you are looking.
West District: Reported the tightest conditions in the city with less than two months of supply.
North East District: Struggled with excess supply, preventing price improvements.
Price Recovery: The only districts to report gains both month-over-month and year-over-year were the City Centre and the West.
2. Semi-Detached: High Demand, Low Supply
Benchmark Price: $682,200
Trend: +2% Month-over-Month | Comparable to last year
Months of Supply: 2.4 months (The lowest of all property types)
With sales reaching 175 units and the sales-to-new-listings ratio hitting 69%, this segment is seeing the most pressure. Tighter conditions early in the year are supporting price gains in the City Centre, North West, and West, though these gains were offset by declines in the North East, South, and East districts.
3. Row / Townhomes: Returning to Balance
Benchmark Price: $423,600
Trend: In line with seasonal expectations | -5% Year-over-Year
Months of Supply: Just over 3 months
After a surge of listings in January, the pace slowed in February. With 270 sales and 491 new listings, the market stabilized. However, prices are still down 5% from last year, with the steepest declines (over 10%) occurring in the North East and East districts. Conversely, prices in the West and City Centre are holding steady, sitting only slightly lower than last year’s levels.
4. Apartment Condominiums: A Buyer’s Market
Benchmark Price: $298,600
Trend: -1% Month-over-Month | -9% Year-over-Year
Months of Supply: Over 4 months
This sector is dealing with significant excess supply. Despite a pullback in new listings, the sales-to-new-listings ratio remained low at 46%. Inventory has climbed to 1,580 units.
District Variance: Supply ranges from extreme highs in the North East (>11 months of supply) to tighter conditions in the South (<4 months of supply).
Price Impact: The high supply is weighing on prices across the board, with the North East, East, and South East seeing price declines surpassing 10%.
Regional Market Watch: Beyond Calgary
The "bedroom communities" surrounding Calgary are also seeing unique shifts:
Okotoks (The Tightest Market)
Benchmark Price: $612,300 (+2% vs Jan)
Status: Inventory remains well below long-term trends with under three months of supply.
Takeaway: Tight conditions are driving price gains that are stronger than what we typically see this early in the year.
Cochrane (Balanced)
Benchmark Price: $553,500
Status: Balanced conditions with three months of supply.
Takeaway: Sales gains helped offset new listings, preventing a glut of inventory. Prices are slightly up from January but remain ~3% lower than last year.
Airdrie (Competitive)
Benchmark Price: $512,200
Status: Balanced conditions with just over three months of supply.
Takeaway: Inventory is pushing above long-term trends due to competition from the new home sector. Prices remain ~5% lower than last year.
If you are looking to buy or sell in this shifting market, having the right data is critical. Whether you are looking at a detached home or a condo, the strategy changes completely. Reach out today to discuss how these stats impact your home’s value!
Read the CREB Now Blog Here: https://www.creb.com/News/CREBNow/2026/March/February_2026_Stats/
Click here to view the full City of Calgary monthly stats package.
Click here to view the full Calgary region monthly stats package.
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