Calgary recorded 1,234 residential sales in January, a 15% decline compared with last year. While this may sound steep, it aligns with typical seasonal patterns, as January is traditionally slower following the December holiday period. The decline was most pronounced in high-density homes, such as row houses and apartments, reflecting buyer caution in segments where supply is increasing.

“Potential buyers for high-density homes were more hesitant to return to the market in January, as increased supply across the market has reduced the sense of urgency,” said Ann-Marie Lurie, CREB®’s Chief Economist.

Sales vs. Listings

Sellers were quick to bring new listings to market, pushing the sales-to-new-listings ratio down to 44%—a reflection of the larger number of options available, particularly in apartments and row-style homes. Overall, this is not unusual for January, as both buyers and sellers weigh their options ahead of the spring market.

Inventory rose to 4,391 units, the highest January level since 2020, with row and apartment homes seeing the largest increases. This has created a range in months of supply:

• Detached homes: under 3 months

• Apartment-style units: 5 months

The market is showing stable conditions for detached and semi-detached homes, but high-density properties continue to face downward pressure on prices due to oversupply.

Property Type Breakdown

Detached Homes

• Sales: 657

• New listings: 1,243

• Inventory: 1,753 units

• Sales-to-new-listings ratio: 53%

• Benchmark price: $724,000 (down ~3% YoY)

Detached homes remain relatively balanced, with less than three months of supply. Price declines are modest and vary by district, with some areas holding steady while others, like the North East, saw larger pullbacks. Insight: For buyers, detached homes may offer stable opportunities, while sellers may need strategic pricing in areas seeing sharper declines.

Semi-Detached Homes

• Sales: 118

• New listings: 251

• Months of supply: 3.5

• Benchmark price: $667,000 (down ~1% YoY)

Semi-detached homes continue to show balance, though increased supply is contributing to more stable pricing. Growth in new listings outpaced sales, signaling a market where buyers have choices but competition is still manageable.

Row Homes

• Sales: 186 (down ~25% YoY)

• Months of supply: 4+

• Benchmark price: $567,000 (down 5% YoY)

Row homes are facing high inventory levels, particularly in oversupplied districts like the North East and East. Despite stable month-to-month prices, year-over-year declines indicate ongoing pressure, making this a buyer-friendly segment.

Apartment Condominiums

• Sales: 273

• New listings: 787

• Months of supply: 5+

• Benchmark price: $301,200 (down 8% YoY)

Apartment-style units continue to experience high inventory and weaker demand, pushing prices lower. Buyers can find opportunities, but sellers in this segment may face challenges without competitive pricing.

Regional Insights

Airdrie: Sales remain strong at 106 units, but inventory is creeping higher, keeping months of supply just above three months. Prices are modestly up month-over-month but down 5% YoY, reflecting last year’s pullbacks.

Cochrane: New listings hit a January record at 149, but sales are slow at 54 units. With five months of supply, benchmark prices have dropped slightly to $550,800. Insight: Oversupply is giving buyers more leverage in Cochrane.

Okotoks: Inventory remains tight at 79 units with a sales-to-new-listings ratio of 63%. Prices are stable at $599,500, slightly lower than last year. Insight: Low inventory keeps this market competitive, especially for detached homes.

What This Means for Buyers and Sellers

• Buyers: High-density homes (apartments and row homes) offer more choices and negotiating power due to oversupply. Detached and semi-detached homes remain balanced but may require timely action in desirable areas.

• Sellers: Pricing strategy is key, especially in oversupplied segments. Detached homes are holding value better, while apartments and row homes may need realistic pricing to attract buyers.

• Overall: January reflects a cautious start to 2026, with inventory rising but pricing stabilizing in most sectors. As spring approaches, the market is likely to see increased activity, particularly in detached and semi-detached homes.

This update is based on the January 2026 Calgary market statistics released by the Calgary Real Estate Board (CREB®), reflecting key trends in sales, inventory, pricing and supply going into the new year. If you’re wondering how these shifts impact your buying power or what they mean for selling your home in your community, we’re here to help. Whether it’s understanding how current conditions affect your list price or what opportunities exist for buyers with today’s increased inventory, contact us for personalized insight and strategic advice tailored to your goals in 2026.

Read the CREB Now Blog Here: https://www.creb.com/News/CREBNow/2026/February/January_2026_Stats/

Click here to view CREB’S full City of Calgary monthly stats package.

Click here to view CREB’S full Calgary region monthly stats package.

As the Calgary real estate market moves through the summer months, we’re starting to see a shift—particularly due to a significant increase in supply. According to the latest CREBNow market update, July 2025 saw the city reach 6,917 active listings, a level of inventory not seen since before the pandemic and well above long-term trends. Much of this growth has been concentrated in newer communities, which is directly influencing pricing and buyer activity across all property types.

Market Trends at a Glance

• Total Sales (July): 2,099 (↓12% YoY)

• New Listings: 3,911 (↑8% YoY)

• Citywide Benchmark Price: Down 4% from June 2024 peak

• Apartments & Row Homes: Experiencing the steepest price declines

• Detached & Semi-Detached Homes: More balanced conditions

• Inventory Levels: Highest since 2021 for some property types

Chief Economist Ann-Marie Lurie noted, “Price declines are not occurring across all property types in all locations of the city, and even where there have been declines, it has not erased all the gains made over the past several years.”

Let’s break it down by property type and region:

Detached Homes

• Benchmark Price: $761,800 (↓<1% YoY)

• Months of Supply: 3 (up for the first time since 2020)

Sales slowed to 1,031 units in July, with inventory growth outpacing demand. While most areas saw a balanced market, the North East had over four months of supply and the largest price declines (↓5%). In contrast, City Centre detached homes saw nearly a 2% increase in pricing.

Semi-Detached Homes

• Benchmark Price: $697,500 (↑1% YoY)

• Months of Supply: 3 (first time since 2021)

While sales declined 11% year-to-date, inventories improved. Prices held steady overall, with the City Centre seeing the highest gains (↑3%), and the North East, East, and North districts showing slight declines.

Row Homes

• Benchmark Price: ↓4% YoY

• Months of Supply: Over 3

Inventory continues to rise, particularly in the North East, where supply nears five months. While prices have declined recently, they remain relatively stable on a year-to-date basis, with some gains in the South, North West, and City Centre.

Apartment-Style Condominiums

• Benchmark Price: $329,600 (↓1% MoM, ↓5% YoY)

• Months of Supply: 4+ (highest since 2021)

Apartment units are currently experiencing the greatest pricing pressure. Increased competition from new construction and rising rental vacancies are weighing on the resale condo market. However, price declines are mostly concentrated in the North East, North, South East, and East, with other areas showing more resilience.

Surrounding Markets

Airdrie

• Benchmark Price: $532,800 (↓4% YoY)

• Inventory is up to its highest July level since 2018, resulting in over 3 months of supply. Despite the drop, prices year-to-date remain relatively stable.

Cochrane

• Benchmark Price: $590,000 (↑2% YoY, ↑4% YTD)

• Sales have softened slightly, but remain strong compared to long-term trends. A record number of July listings pushed inventory higher, slightly impacting pricing.

Okotoks

• Benchmark Price: $628,500 (↑2% YTD)

• Still one of the tighter markets, with just over 2 months of supply and strong sales-to-new-listings ratio (71%). Prices remain higher than last year despite a slight monthly dip.

What Does This Mean for Buyers and Sellers?

The increase in inventory across Calgary—particularly in the apartment and row home sectors—has shifted the dynamics from a seller-favoured market to one that’s more balanced or even tilted toward buyers in some areas. Sellers should be mindful of increased competition and price sensitivity, especially in newer or higher-density developments.

For buyers, this is an opportunity to explore more options and negotiate with greater confidence—especially in the condo market where selection and value are improving.

Source: CREBNow
Click here to read the full July 2025 Calgary & Region Market Stats report.

Click here to view the full City of Calgary monthly stats package.

Click here to view the full Calgary region monthly stats package.