Calgary’s Market Is More Balanced, But Property Type Matters

Calgary’s housing market continued to move toward more balanced conditions in April 2026, but the story is different depending on the property type.

According to CREB®, April sales reached 2,104 units, which is down about 6% compared to April 2025. New listings came in at 3,829, while inventory rose to 5,973 units. The months of supply sat just under three months, which generally points to a more balanced market overall.

The benchmark price for all residential properties in Calgary was $568,800 in April 2026. That is up from March, which is normal heading into the spring market, but still about 3% lower than the same time last year.

The important part is that Calgary is not moving as one single market. Detached homes, semi-detached homes, row homes, and apartment-style condos are all behaving differently.

Detached homes are still seeing tighter conditions in some areas of the city. Inventory remains below long-term trends, and months of supply stayed just over two months. The benchmark price for detached homes reached $745,400 in April. Some districts, including the North West, West, and South, remained tighter, while the North East saw more buyer-favourable conditions.

Semi-detached homes also saw price growth month over month, with the benchmark price reaching $690,000. Conditions remain relatively balanced, though location continues to matter. Some districts are seeing stronger price support, while others with higher supply are seeing softer conditions.

Row homes are sitting in a more balanced range overall, with nearly three months of supply. However, higher inventory compared to last year has created more variation across the city. Some areas are adjusting more than others, especially where supply has increased faster than demand.

Apartment-style condos are where buyers currently have the most negotiating power. Inventory rose to 1,920 units in April, and months of supply moved above four months. The benchmark price for apartments was $301,400, which is slightly higher than March but nearly 9% lower than April 2025.

For buyers, this means there is more choice than there was during the tighter market conditions of the past few years. The best opportunities may be in property types or districts where supply has increased, especially apartment-style condos.

For sellers, this does not mean the market is bad. It means pricing strategy matters more. Homes that are priced properly, presented well, and positioned correctly can still move well, especially in areas where supply remains limited. But sellers cannot rely on the same urgency that existed during stronger seller’s market conditions.

In the surrounding markets, Airdrie, Cochrane, and Okotoks also showed more balanced conditions. Airdrie’s benchmark price reached $516,700, Cochrane reached $569,200, and Okotoks reached $627,600. Each market is moving a little differently, but the overall theme is the same: buyers have more room to breathe, and sellers need to be more strategic.

The biggest takeaway from April is that Calgary has shifted away from the intense seller’s market conditions we saw when demand was moving faster than supply. The market is not frozen, and it is not crashing. It is becoming more selective.

For buyers, this is a chance to slow down, compare options, and make a more confident decision.

For sellers, this is the time to price with precision, prepare the property properly, and work with the market instead of chasing it.

Source: CREB® April 2026 Housing Market Report.