More supply, slower sales, and a market that’s finding its new normal. Here’s what the numbers really mean for buyers and sellers right now.
Chris Marshall, Realtor• - June 1st 2026 - Source CREB•
The Big Picture: A Market in Transition
May 2026 confirmed what many Calgarians have been sensing: the frenzied sellers' market of recent years has given way to something more measured. With 2,162 residential sales, 16 per cent below last May, and inventory sitting at 6,752 units, the Calgary market has shifted to broadly balanced conditions, though the story differs considerably depending on what type of home you're buying or selling.
Both buyers and sellers are navigating new headwinds. On the demand side, cost-of-living pressures and slower population growth from migration are cooling buyer appetite. On the supply side, new construction and a busier rental market are giving prospective buyers more options than they had even a year ago. The result: sellers can no longer count on multiple offers by the weekend, and buyers have room to breathe, and negotiate.
The total residential benchmark price of $570,500 is up from January's $554,400, reflecting a typical seasonal lift through spring. Year-over-year, however, prices are three per cent lower than May 2025, a meaningful shift after years of rapid appreciation. When seasonally adjusted, prices have been relatively stable, with gains in detached homes largely offsetting declines in the apartment segment.
How Each Property Type Is Performing
Detached homes remain the most resilient segment. With just 2.45 months of supply, close to balanced, and prices that have recovered from $724,000 in January to $747,800 by May, the detached market continues to attract steady demand. Districts vary dramatically: the West end remains a sellers' market (1.77 months of supply, $1,005,200 benchmark), while North East Calgary is firmly in buyer territory (4.18 months, $563,900) with prices down nearly seven per cent year-over-year.
Semi-detached homes are also holding up relatively well. Prices are essentially flat year-over-year at $691,100, and inventory remains manageable. North West and West districts have actually seen record-high prices in 2026 YTD, a bright spot worth noting for buyers considering entry into those communities.
Row and townhouse homes are under more pressure. With 3.35 months of supply and a six per cent price decline year-over-year, this segment has more competition from both new construction and an elevated resale pool. The North East and East districts are feeling it most acutely, with price declines exceeding 10 per cent.
Apartment condominiums face the most challenging conditions. At 5.14 months of supply, well above balanced, and a benchmark price of $300,400 (down nine per cent from last May), this is firmly a buyers' market. Inventory is elevated across all districts, and prices have been trending down since early 2025. For buyers with flexibility, condos are presenting value opportunities that haven't existed in Calgary for several years.
District Spotlight: Where You Buy Matters
One of the most important takeaways from this month's data is just how much the Calgary market varies by district. The citywide average can be misleading, conditions in the West end and South districts look nothing like those in the North East or East. Here's a quick snapshot of total residential benchmark prices by district:
The West district's detached market at 1.77 months of supply tells a notably different story from the North East at 4.18 months. If you're a buyer weighing different neighbourhoods, understanding the local supply picture, not just the citywide headline, is critical to making a confident offer.
Beyond City Limits: The Regional Picture
Surrounding communities continue to attract buyers looking for more space and value relative to the city. Here's how the key regional markets performed in May 2026:
What Does This Mean for You?
Want to Know What This Means for Your Specific Situation?
Every buyer and seller's situation is unique. Whether you're eyeing a first home, moving up, or figuring out the right time to list, I'm here to help you navigate this market with confidence.
Contact Chris Marshall chris@chrismarshallrealtor.com | chrismarshallrealtor.com
RE/MAX House of Real Estate
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Data sourced from CREB® March 2026 Calgary Monthly Stats Package and CREB® March 2026 Regional Monthly Stats Package. The trademarks MLS®, Multiple Listing Service® and associated logos are owned by The Canadian Real Estate Association (CREA). Data deemed reliable but not guaranteed.
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