Balanced Conditions in the City, Except for Apartment-Style Units
Calgary’s housing market continued its seasonal transition into spring, with both sales and inventory rising compared to March. While overall activity picked up, the market continues to show clear differences depending on property type.
In April, Calgary recorded 2,104 sales, a six percent decline compared to last year, reflecting a broader shift away from the strong demand seen during the peak migration years. At the same time, 3,829 new listings came onto the market, keeping the sales-to-new-listings ratio at 55 percent and supporting a modest increase in inventory.
Total inventory reached 5,973 units, slightly higher than last year. Overall, the market remains relatively balanced, with just under three months of supply. However, this balance masks a divide between segments, ranging from tight conditions in detached homes to buyer-favouring conditions in the apartment condominium market.
According to CREB Chief Economist Ann-Marie Lurie, improved supply across all housing types has reduced urgency among buyers, helping shift the market away from seller-dominated conditions. However, limited inventory in the detached segment continues to contrast sharply with elevated supply in the apartment market.
Overall Pricing Trends
The total residential benchmark price rose to $568,800 in April, up from March due to typical seasonal gains heading into the spring market.
Despite this monthly increase, prices remain three percent lower than last year, with the most significant declines occurring in apartment-style homes, where prices are down nearly nine percent year-over-year.
Lower-density housing, including detached and semi-detached homes, has shown more stability, with only modest year-over-year declines.
Detached Homes
Detached homes remain the tightest segment of Calgary’s housing market.
Sales: 1,095
New listings: 1,863
Inventory: 2,468 units
Months of supply: Just over 2 months
Inventory levels remain below both last year and long-term trends, continuing to support prices. The benchmark price rose to $745,400, with year-over-year declines easing to under three percent.
Market conditions vary across districts:
Seller’s market conditions persist in the North West, West, and South, where supply is especially tight
Buyer conditions are emerging in the North East, where higher supply is weighing on prices
Semi-Detached Homes
Semi-detached homes continue to show balanced conditions, supported by steady supply and demand.
Benchmark price: $690,000
Prices increased month-over-month and are now only slightly below last year’s levels
Price trends vary by location:
Gains were seen in most districts
Declines persist in the North East and East, where supply is higher
Year-to-date, prices have improved in the City Centre, North West, and West districts, supported by tighter conditions.
Row Homes
Row homes remain in balanced territory, though supply has increased compared to last year.
Sales-to-new-listings ratio: ~51 percent
Months of supply: Nearly 3 months
While overall conditions are stable, significant differences exist across districts:
The North East continues to experience the highest supply levels and the largest price declines, exceeding 11 percent year-to-date
The West district has seen the smallest price adjustments, with declines under two percent
Apartment Condominiums
Apartment-style homes continue to face the greatest supply pressure.
Inventory: 1,920 units
Supply: Over 4 months
Inventory: 27 percent above long-term trends
Despite a slight improvement in the sales-to-new-listings ratio, supply remains elevated, keeping conditions in buyer’s market territory.
The benchmark price reached $301,400, slightly higher than March, but still nearly nine percent lower than last year.
Price declines are widespread:
Largest drops in the North East, East, North, and South East
Some stabilization in the North West, South East, and West districts
Regional Market Highlights
Airdrie
Balanced conditions persist with just over three months of supply. The benchmark price rose to $516,700, up month-over-month but still over five percent lower than last year.
Cochrane
Stronger sales and fewer new listings tightened conditions slightly. The benchmark price increased to $569,200, though still more than three percent below last year.
Okotoks
Inventory remains limited, keeping conditions relatively tight. The benchmark price reached $627,600, up from March and in line with last year.
Market Outlook
April reinforces the theme seen throughout early 2026: a split market in Calgary.
Detached and semi-detached homes remain supply-constrained and relatively stable
Row homes are balanced but showing signs of softness in some districts
Apartment condominiums continue to face elevated supply and downward price pressure
As we move deeper into the spring market, buyers will find the most opportunities in higher-density housing, while sellers of detached homes—especially in tighter price ranges—continue to benefit from limited supply.