Calgary and Area Real Estate Report, March, 2026
Executive Summary
As Calgary’s housing market moves into March 2026, the most recent data released by the Calgary Real Estate Board for February 2026 confirms that the market continues its transition toward balanced conditions. Sales activity remains below last year’s levels, while inventory continues to rise across several property segments. This increase in supply has expanded options for buyers and eased some of the competitive pressure seen during previous years.
Market conditions vary notably by housing type. Detached and semi-detached homes remain comparatively tight, with months of supply below three months. Row housing is experiencing more balanced conditions, while apartment-style homes continue to face elevated inventory levels and softer demand. Overall, these dynamics are contributing to more moderate pricing trends across the Calgary market.
City of Calgary Highlights
Sales, Listings and Inventory
Total residential sales in February 2026 reached 1,526 units, representing an approximately eleven percent decline compared with February of last year. New listings totalled 2,766 units, and active inventory rose to 4,822 homes. Inventory levels are roughly sixteen percent higher than one year earlier, reflecting continued increases in available supply.
The sales-to-new-listings ratio was approximately 55 percent, while overall months of supply reached just over three months. These indicators confirm that the Calgary market is currently operating within balanced conditions, with neither buyers nor sellers holding a clear advantage. Higher inventory levels are providing buyers with greater selection while also contributing to more moderate price movement across several property types.
Benchmark Prices by Segment
The unadjusted benchmark price for total residential properties in Calgary was $560,500 in February 2026. This represents a decline of roughly four percent compared with February 2025, though prices increased modestly on a monthly basis from January levels.
Price trends continue to differ across property types.
The detached benchmark price reached $734,300, approximately three percent lower year-over-year. Semi-detached homes recorded a benchmark price of $682,200, remaining relatively stable compared with last year. Row housing benchmark prices declined to $423,600, reflecting a year-over-year decrease of about five percent. Apartment benchmark prices fell to $298,600, down roughly nine percent compared with February 2025.
Detached and semi-detached homes continue to demonstrate stronger price stability, supported by relatively tighter supply levels. In contrast, elevated inventory in the apartment and row segments is contributing to ongoing downward pressure on prices in those categories.
Regional Market Overview
Airdrie
Airdrie reported balanced conditions in February 2026. Sales and new listings totalled 122 and 236 units respectively, resulting in a sales-to-new-listings ratio of approximately 52 percent. Inventory levels increased modestly and months of supply remained just above three months.
The benchmark price in Airdrie was $512,200, similar to the previous month but roughly five percent lower than levels recorded one year earlier. Increased competition from new construction and rising supply across the region continue to influence pricing trends.
Cochrane
Cochrane experienced improving balance during February as stronger sales helped absorb new listings entering the market. With 91 sales and 154 new listings, the sales-to-new-listings ratio rose to approximately 59 percent.
Months of supply remained close to three months, reflecting stable conditions. The benchmark price in Cochrane was $553,500, slightly higher than January but approximately three percent lower compared with February of last year.
Okotoks
Okotoks continues to experience tighter market conditions compared with many surrounding communities. While sales slowed relative to new listings during February, overall inventory levels remain below long-term averages.
Months of supply remained under three months, indicating relatively strong absorption. The benchmark price reached $612,300 in February, representing a modest monthly increase and remaining generally consistent with levels reported one year earlier.
Market Trends and Outlook
According to the Calgary Real Estate Board, current market conditions reflect a broader normalization following several years of exceptionally tight supply. Inventory levels have risen significantly, particularly in apartment-style properties where new construction and increased listings are expanding available supply.
Detached and semi-detached homes remain more constrained, particularly within lower price ranges where supply continues to lag demand. Meanwhile, the growing inventory of apartment units, combined with a large number of housing starts in recent years, is contributing to softer pricing within the condominium sector.
Citywide conditions remain balanced with approximately three months of supply, suggesting that the market is stabilizing as Calgary enters the spring buying season.
Strategic Insights
For Sellers
Sellers of detached and semi-detached homes can still benefit from relatively stable conditions, particularly when pricing aligns closely with current benchmark values and comparable sales. Homes within more affordable price ranges continue to attract consistent demand.
Sellers of row and apartment-style properties should anticipate increased competition due to higher inventory levels. Strategic pricing, strong presentation, and realistic expectations regarding marketing timelines will remain important factors for success in these segments.
For Buyers
Buyers are benefiting from a noticeable improvement in selection across most property types. Increased inventory has reduced some of the urgency that characterized the market in previous years and has created additional negotiating flexibility in certain segments.
Apartment and row housing buyers may find the most opportunity as inventory remains elevated. Detached homes that are appropriately priced continue to sell relatively efficiently, particularly in neighbourhoods where supply remains limited.
This analysis is based on the February 2026 Calgary and Area housing statistics released by the Calgary Real Estate Board.
Market Update from Your Partners at Mortgage Connection
February was an active month across Alberta’s housing market. Properties are continuing to move, buyers are entering the market with confidence, and homes that are priced appropriately are trading efficiently. Inventory has improved modestly compared with conditions seen toward the end of 2025, which is contributing to healthier and more balanced market dynamics. Demand remains strong, particularly within the $500,000 to $900,000 price range where a significant portion of buyer activity is concentrated.
Detached homes continue to perform well throughout the province, supported by consistent demand from both local buyers and those relocating to Alberta. Strategic listings that align closely with current market values are achieving strong results and maintaining reasonable marketing timelines.
Mortgage Renewal Landscape
A major national theme shaping the Canadian housing market in 2026 is the volume of upcoming mortgage renewals. It is estimated that approximately 1.15 million mortgages across Canada will come up for renewal this year. Many of these loans were originally secured during historically low interest rate periods, meaning a large number of borrowers will now face significantly different financing conditions.
This shift is driving important conversations around restructuring, refinancing, equity utilization, and long-term financial planning. Waiting until a mortgage maturity date approaches is rarely the most effective strategy. Instead, early review and proactive planning can create meaningful options for homeowners.
For suitable clients, refinancing strategies are increasingly being explored. Preparing home equity in advance can position homeowners to respond strategically to potential buying opportunities, while also allowing real estate partners to assist clients in leveraging market conditions effectively.
Economic and Population Trends
Alberta continues to benefit from strong population growth, steady employment conditions, and sustained interprovincial migration. These factors remain fundamental drivers of housing demand throughout the province. Buyers relocating from other regions of Canada continue to view Alberta as an attractive market due to its relative affordability and economic opportunity.
Current market activity does not indicate distress or instability. Rather, the province is experiencing a period of normalization following several years of exceptionally tight supply and rapid price acceleration. More balanced conditions are supporting healthier transaction volumes and more sustainable pricing trends.
Strategic Considerations
For Industry Partners
Mortgage renewals represent a significant opportunity for proactive client engagement throughout 2026. Early conversations around refinancing, restructuring, and equity planning allow professionals to help clients position themselves strategically for both stability and potential acquisition opportunities.
For Homeowners and Buyers
Individuals with mortgages renewing in 2026 should begin reviewing their options well in advance of their renewal date. Early preparation provides greater flexibility and can allow homeowners to align financing decisions with broader real estate goals.
If you or someone you know has a mortgage renewal approaching this year, now is an ideal time to begin that conversation. Early planning ensures that, where appropriate, clients are positioned to take advantage of opportunities that may arise in the current market environment.