Calgary and Area Real Estate Report, May, 2026
As Calgary’s housing market progresses through May 2026, the latest data released by the Calgary Real Estate Board for April 2026 indicates that market conditions continue to normalize across most property segments. Seasonal spring activity has supported a modest increase in sales compared with March, while inventory growth has continued to provide buyers with greater selection and more balanced negotiating conditions.
Detached and semi-detached homes remain the strongest performing segments, though supply levels have improved modestly compared with earlier in the year. Months of supply in April measured 2.38 for detached properties and 2.71 for semi-detached homes, both still below balanced market conditions. Row housing continued to trend toward equilibrium at 3.25 months of supply, while apartment style homes remained the loosest category at 4.89 months of supply, reflecting continued inventory growth and softer pricing.
Overall, Calgary’s market is transitioning further away from the highly competitive conditions experienced during the tightest phases of the previous cycle. While well priced detached homes continue to attract steady demand, higher density segments are offering buyers more flexibility and negotiating power.
City of Calgary Highlights
Sales, Listings and Inventory
Total residential sales in Calgary reached 2,045 units in April 2026, down 10 percent from April 2025 but up modestly from March levels as seasonal activity increased. New listings totalled 3,762 units, while active inventory rose to 5,982 homes, representing an 8 percent increase year over year. The sales to new listings ratio measured 54 percent, while months of supply rose to 2.92 months.
CREB noted that inventory growth continues to be concentrated primarily in row and apartment style housing. Detached inventory remains below long term historical averages in several districts, particularly in mid priced family oriented neighbourhoods. This imbalance is continuing to create differing market conditions depending on product type and location.
Benchmark Prices by Segment
The unadjusted benchmark price for total residential properties in Calgary reached $569,800 in April 2026. This represented a slight monthly increase from March, though prices remained 3.8 percent below April 2025 levels.
Detached benchmark prices rose to $746,900, down 2.4 percent year over year. Semi detached homes recorded a benchmark price of $689,700, reflecting a modest annual decline of less than one percent. Row housing benchmark prices measured $426,800, down 5.5 percent from last year, while apartment style homes fell to $298,900, representing an annual decline of 9.4 percent.
Detached and semi detached homes continue to demonstrate the greatest pricing resilience, supported by tighter supply and more stable demand. Apartment style properties remain under the most pressure due to elevated inventory levels and increased competition among sellers.
Regional Market Overview
Airdrie
Airdrie continued to operate under balanced conditions in April 2026. Sales totalled 142 units while new listings reached 268 units. Active inventory increased to 472 homes, resulting in 3.32 months of supply. The benchmark price measured $515,900, down 5.1 percent year over year.
The increase in available inventory is continuing to improve buyer choice and reduce urgency in the market. Sellers remain active, though pricing sensitivity has increased compared with the highly competitive conditions seen previously.
Cochrane
Cochrane recorded 96 sales in April, while new listings increased to 191 units. Inventory levels rose to 328 homes, pushing months of supply to 3.42 months. The benchmark price reached $565,400, down 3.1 percent compared with April 2025.
Supply growth continues to outpace sales activity, contributing to softer pricing trends. However, overall market conditions remain relatively stable and consistent with more normalized seasonal activity patterns.
Okotoks
Okotoks remained among the tighter surrounding markets in April 2026. Sales reached 57 units, with 101 new listings and inventory levels of 124 homes. Months of supply measured 2.18, continuing to reflect stronger absorption than many neighbouring communities. The benchmark price was $622,700, down just 1.2 percent year over year.
The relative stability in Okotoks reflects continued demand combined with comparatively limited inventory. Conditions remain favourable for sellers, particularly in desirable family oriented price ranges.
Market Trends and Outlook
According to CREB, April data continues to reflect a market that is increasingly segmented by housing type and location. Detached inventory remains relatively constrained in several city districts, while apartment and row housing inventory has expanded beyond long term averages.
District level trends also continue to vary considerably. In April, benchmark price changes ranged from relatively stable performance in the West and North West districts to more pronounced declines in portions of the North East and East sectors, where inventory growth has been strongest.
As Calgary moves deeper into the spring market, overall conditions appear increasingly balanced. Buyers are benefiting from improved inventory and reduced competition compared with recent years, while sellers in lower density categories continue to benefit from comparatively supportive conditions where supply remains limited.
Strategic Insights
For Sellers
Sellers of detached and semi detached homes continue to operate from a position of relative strength, particularly when properties are priced appropriately and located in districts with tighter inventory conditions. These segments remain the most resilient in terms of pricing and absorption.
Sellers of row and apartment style homes should anticipate increased competition and more price sensitive buyers. Strategic pricing, strong presentation, and effective marketing remain especially important in categories where inventory levels are elevated and negotiating leverage has shifted toward buyers.
For Buyers
Buyers continue to benefit from greater selection across much of the Calgary market, particularly within apartment and row housing segments. Higher inventory levels and softer pricing conditions in these categories may create stronger opportunities for negotiation.
Buyers targeting detached homes should still expect more competitive conditions in select neighbourhoods and price ranges where supply remains below historical averages. However, overall market pressure remains significantly lower than during prior periods of extreme scarcity, allowing buyers more time and flexibility in their decision making process.
Market Update from Your Partners at Mortgage Connection
Calgary and area feels different this month.
There is a renewed energy in the market that simply was not there through the winter. Buyers are back out viewing properties, conversations are picking up again, and overall activity has noticeably improved across many parts of the city.
What stands out most right now is just how localized the market has become.
Some neighbourhoods are seeing price adjustments followed almost immediately by strong activity and fast sales. Other areas are still moving more slowly. We have heard from many clients about listings that sat quietly for months with very little interest, only to suddenly attract multiple offers once the timing and pricing aligned.
It is a strong reminder that momentum can shift faster than people expect, and that preparation matters far more than trying to perfectly time the market.
For buyers who are still weighing their options, mortgage rates remain an important conversation. Fixed rates experienced some upward pressure earlier this spring as bond yields increased, although conditions have stabilized somewhat in recent weeks. In this environment, having a pre approval in place is incredibly valuable. It gives buyers confidence, clarity around budget, and the ability to act quickly when the right opportunity appears.
That is where planning early makes a real difference.
We are also continuing to have productive conversations with homeowners around refinancing strategies. For many clients with accumulated equity, there may be opportunities to improve monthly cash flow, consolidate higher interest debt, renovate, invest, or position themselves for a future purchase. The right strategy depends entirely on individual goals, but there are meaningful options available in today’s market that are worth exploring.
Most importantly, we continue to remind clients that real estate remains a long term wealth building tool.
Paying down principal, building equity over time, and using leverage strategically continues to be one of the most consistent ways Canadians create financial stability and long term wealth. Market headlines may change month to month, but those fundamentals remain remarkably consistent.
As always, if you would like to discuss your options, review the current market, or simply explore what may make sense for your next step, we are always happy to have the conversation.