Balanced Market Holds as Apartment Supply Keeps Pressure on Prices

Detached and semi-detached homes remain Calgary's most resilient segments, with benchmark prices of $747,800 (-2.4% YoY) and $691,100 (-1.0% YoY) holding up far better than row (-6.4%) and apartment condos (-9.1%), which continue to soften under heavier supply.

Active inventory climbed 13.2% month-over-month to 6,760 units, 11% above long-term norms for May, driven mainly by apartment and row-style supply — while sales (2,162) only edged up 2.8%, pushing the sales-to-new-listings ratio down to 51% from 55% in April.

Apartment condominiums are firmly in buyer's territory: with a 42% sales-to-new-listings ratio and months of supply pushing above five, the $300,400 benchmark price is now below January 2026 levels and 9% lower than a year ago.

Conditions vary sharply by district — the West is posting record-high semi-detached prices, while the North East is seeing the steepest declines, with detached prices down 7% year-over-year and row/apartment prices off more than 10%.

Among surrounding markets, Cochrane continues to outperform with sales above both last year and long-term averages, lifting its benchmark price 1.3% to $576,400, while Airdrie (-5% YoY) and Okotoks ($618,900, down for a second straight month) are cooling alongside the broader region.

Despite the wave of new supply, well-priced homes are still moving fast: median days on market held steady at 34, almost unchanged from April's 35.