Trends Differ Based on Property Type
Calgary’s housing market continued to show diverging trends in March 2026, with conditions varying significantly depending on property type. While overall activity picked up as we moved into the spring market, the underlying story remains one of imbalance between low-density and high-density housing segments.
Inventory levels followed typical seasonal patterns and increased month-over-month. However, compared to long-term trends, supply remains well above average for row and apartment-style homes, while detached housing continues to face limited inventory. This reflects last year’s construction trends, where apartment starts surged while detached construction slowed.
In March, Calgary recorded 1,881 sales, an improvement from February but still 13 percent lower than last year and below long-term averages. Much of this decline is tied to softer demand in the apartment sector, where increased supply and slower migration are spreading demand across more options. Meanwhile, detached home sales also remain below typical levels, largely due to limited supply in several districts.
According to CREB Chief Economist Ann-Marie Lurie, while headline numbers suggest a balanced market, a deeper look reveals a split market: tighter conditions for detached homes and buyer-favouring conditions in the apartment segment. This dynamic continues to support price growth in low-density housing while placing downward pressure on condo prices.
Overall Pricing Trends
The total residential benchmark price reached $565,600 in March, up nearly one percent from February, reflecting typical seasonal gains. However, prices remain over four percent lower than last year.
After the first quarter:
Detached and semi-detached homes showed stable to modest price growth
Apartment condominiums continued to decline, dropping an additional three percent compared to Q4 2025
Detached Homes
Detached homes continue to experience the tightest market conditions across all property types.
While overall inventory is similar to last year, supply remains tight in many districts:
Less than two months of supply in the North West, West, South, South East, and East
More balanced conditions in the City Centre and North
Higher supply pressure in the North East
The benchmark price reached $741,300, down three percent from last year’s peak but showing quarterly gains in several areas, particularly the West, City Centre, and South districts.
Semi-Detached Homes
Semi-detached homes remained relatively balanced, with improved sales and stable inventory levels.
Prices edged slightly higher month-over-month and are only one percent below last year’s levels. By the end of Q1, most districts saw price gains, though year-over-year prices remain lower in many areas outside of the City Centre, North West, and West.
Row Homes
Row home activity continued to soften compared to last year, with supply rising relative to demand.
Inventory: 960 units (25 percent above long-term trends)
Months of supply: Nearly 3 months
Benchmark price: $423,900
While overall conditions remain relatively balanced, some districts—particularly the North East—are trending toward buyer’s market conditions. Prices are over six percent lower than last year, though they have stabilized compared to the previous quarter.
Apartment Condominiums
Apartment-style homes continue to face the greatest supply pressure in the market.
Inventory: 1,774 units (near record highs for March)
Sales-to-new-listings ratio: ~40 percent
Months of supply: Nearly 5 months
The benchmark price was $300,300, slightly higher than February but still over nine percent lower than last year. Prices have declined across all districts, with the largest drops in the South and North districts.
After the first quarter, apartment prices have declined nearly three percent compared to late 2025, reflecting ongoing oversupply.
Regional Market Highlights
Airdrie
Conditions remain balanced with about three months of supply. Prices are stabilizing but remain over five percent lower than last year at $512,800.
Cochrane
Inventory is rising, keeping conditions balanced. Prices showed seasonal gains but remain four percent lower year-over-year at $561,200.
Okotoks
Inventory remains limited, with just over two months of supply. Prices rose month-over-month to $618,100, though still slightly below last year.
Market Outlook
March highlights a two-speed market in Calgary:
Detached and semi-detached homes remain supply-constrained and relatively stable
Row homes are balanced but softening in some districts
Apartment condominiums continue to face oversupply and downward price pressure
As we move deeper into the spring market, price trends will likely continue to diverge by property type. Buyers will find the most opportunities in higher-density segments, while sellers of detached homes—especially in lower price ranges—may continue to benefit from tighter supply.
