Calgary Real Estate Market Report: August 2026 Stats and Analysis

Overview: Sales Slow Further as Apartment Supply Correction Approaches Six Months

Calgary's August 2026 housing market recorded 1,660 sales, a 16.4 percent year-over-year decline from August 2025's 1,986. The pullback is consistent with trends throughout most of 2026 and reflects a market where activity in the lower price ranges has not recovered at the pace seen in higher-priced segments. Notably, homes priced above $1,000,000 posted year-over-year sales gains in August, driven primarily by detached and semi-detached properties where improved supply at that price point has brought previously hesitant buyers back into the market. New listings also fell, declining 9.7 percent year over year to 3,141, keeping overall inventory at 6,509 units, down 2.3 percent from August 2025.

"While sales growth in the upper end of the market was possible thanks to improved supply choice, it also reflects longer-term confidence in our market, as some buyers are not shying away from taking advantage of the available supply," said Ann-Marie Lurie, Chief Economist at the Calgary Real Estate Board (CREB). "Meanwhile, we have not seen the same pickup in activity in the lower price ranges, as favourable rental conditions are slowing the transition to ownership."

With sales pulling back more than inventory in August, the months of supply edged to 3.92, approaching four months overall. The headline figure again masks deep divergence by property type: detached homes sit at 3.39 months while apartments have risen to nearly six months of supply, firmly in buyer's market territory. The total residential benchmark price in August was $569,800, essentially unchanged from July and 1.1 percent below August 2025's $576,000. Semi-detached is the only property type posting positive annual price growth, while the apartment segment continues to bear the brunt of a supply-driven correction that has pushed prices nearly 13 percent below their peak.

August 2026 Sales and Listings Activity

The 1,660 sales recorded in August represent the softest month of 2026 by volume, consistent with typical late-summer seasonal patterns, but the 16.4 percent year-over-year decline is steeper than the seasonal norm. The sales-to-new-listings ratio came in at 52.85 percent, down from July's 57.3 percent, reflecting that buyers have continued to pull back at a faster pace than sellers are withdrawing listings. Despite this, inventory fell slightly from July's 6,628 units to 6,509, suggesting the market is not accumulating excess supply at a rapid rate. Days on market averaged 41 days, compared with 38 days in August 2025, a modest increase that confirms buyers are taking more time to evaluate options across all product types.

The sale-to-list price ratio came in at 97.53 percent in August, a slight retreat from July's 97.69 percent but still indicating sellers are achieving close to asking price on a blended basis. This ratio varies considerably by segment: detached sellers in the West and City Centre continue to operate in conditions closer to seller's market dynamics, while apartment sellers in the North East and East districts face meaningful price negotiation. The YTD sale-to-list ratio of 97.97 percent confirms that the broader market, while softer than 2025, is not in freefall.

On a year-to-date basis through August, total residential sales are 14,649, down 11.1 percent from 16,478 at the same point in 2025. New listings of 27,375 are down 9.45 percent year over year. The consistent pullback on both sides of the ledger is keeping inventory from spiking, but the faster retreat in sales means months of supply continues to drift upward on a cumulative basis. The YTD months of supply of 3.23 is 15.5 percent above the same figure in 2025, reflecting an ongoing but gradual shift toward more buyer-favourable conditions across most segments.

Calgary Home Prices by Property Type in August 2026

The total residential benchmark of $569,800 is essentially flat from July's $569,200 and 1.1 percent below the same month last year. Within that modest headline figure, the divergence between property types is the real story. Semi-detached homes are the standout, posting the only annual price gain among all property types. Detached values remain relatively anchored despite the sales slowdown, while row homes and apartments continue to face downward pressure from elevated supply relative to demand. The apartment segment in particular has now seen its benchmark fall nearly 13 percent from the all-time peak in August 2024.

Detached Homes

Detached sales of 875 declined 12 percent year over year in August, though the segment remains the most resilient of the four property types. New listings fell 6.4 percent year over year to 1,635, and months of supply reached 3.39, well within balanced territory. The benchmark price of $744,300 is essentially unchanged from July's $743,900 and 1.1 percent below August 2025. District conditions vary considerably: the West district detached benchmark of $992,500 is up 2.78 percent year over year, and City Centre detached at $995,700 is up 2.24 percent. At the other end of the spectrum, North East detached prices sit at $560,500, down 6.44 percent annually, reflecting the ongoing affordability pressure and higher-density composition of that district. Overall, detached sellers in the West, City Centre, South, and South East are in a more favourable position heading into fall, while North and North East detached owners face a more competitive environment.

Semi-Detached Homes

Semi-detached is the standout segment of August 2026, posting the only positive annual benchmark price change of any property type. The benchmark of $690,500 is essentially unchanged from July's $691,000 and up 0.98 percent from August 2025's $683,800. With 3.30 months of supply and a sales-to-new-listings ratio of 55.63 percent, the segment sits in balanced territory. Inventory edged up 4.91 percent year over year to 555 units, the first meaningful annual inventory increase for semi-detached in 2026, and this has contributed to the easing in sales. Price gains in the City Centre (benchmark $965,700, up 2.09% year over year), North West ($680,600, up 2.12%), and West ($824,000, up 1.43%) have offset pullbacks in other areas, allowing the segment to hold its overall annual gain. Semi-detached sellers have the best relative positioning of any property type entering the fall market.

Row Homes and Townhouses

Row home sales fell 16 percent year over year to 284 in August, contributing to a year-to-date decline of 15.35 percent. Months of supply reached 3.85, the second consecutive month near four months, as new rental product and additional new-home supply continue to weigh on demand. The benchmark price of $415,200 is down 0.79 percent from July and 5.44 percent from August 2025. The range of annual declines by district is notable: North East row homes are down 12.22 percent year over year, East row homes down 12.34 percent, and City Centre row homes down 3.29 percent. The North West remains the most resilient row district, with prices down just 1.20 percent year over year. New listings for row homes fell 6.65 percent year over year to 505, a supportive trend that, if sustained, will help prevent further inventory accumulation in a segment that is already approaching balanced-to-buyer conditions.

Apartment Condominiums

Apartment condominiums remain the most challenged segment in the Calgary market. With 5.68 months of resale supply, prices continue to adjust downward as more rental product and new condominium completions compete for a smaller pool of ownership buyers. In August, sales fell 26 percent year over year to 333 units, the steepest annual sales decline of any property type for the month. The benchmark price of $295,400 is down 0.74 percent from July and 8.18 percent from August 2025's $321,700. To provide further context, the apartment benchmark peaked at $341,300 in August 2024 and now sits 13.5 percent below that peak. The City Centre apartment benchmark of $303,500 is down 7.53 percent year over year, while North East apartments at $251,900 are down 12.11 percent. The supply pipeline for new apartment-style units continues to exert pressure on both the resale and rental markets, and a meaningful price recovery is unlikely until that pipeline slows materially.

Calgary Real Estate Prices by District in August 2026

The district breakdown for August 2026 shows only two areas posting positive annual benchmark appreciation: West at plus 1.6 percent and City Centre at plus 1.1 percent. Every other district recorded year-over-year declines, ranging from a modest 0.9 percent in the North West to a sharp 6.5 percent in the North East. As throughout 2026, the composition of each district's housing stock determines its performance: districts with a high share of apartment-style homes face the largest corrections, while those dominated by detached and semi-detached product hold their values considerably better.

West District

The West district remains the strongest performer in Calgary's August market, with total residential benchmark appreciation of 1.6 percent year over year to $719,200. Detached homes in the West reached $992,500, up 2.78 percent annually, the largest annual detached price gain of any district in Calgary. With just 2.34 months of supply for detached homes and a strong sales-to-new-listings ratio of 61.59 percent, the West operates in seller-friendly conditions unlike anywhere else in the city. Communities including Aspen Woods, Springbank Hill, Cougar Ridge, and Coach Hill continue to draw buyers who prioritize large lots, proximity to top-ranked schools, and quick access to the mountains. Sellers in the West have the most favourable positioning of any district entering the fall 2026 market, and buyers targeting detached product here should expect limited negotiating room on well-priced properties.

North West District

The North West district posted a total residential benchmark of $627,400, down 0.9 percent year over year, the smallest annual decline outside the two positive districts. Detached homes in the North West sit at $781,500, down 1.30 percent from August 2025, a modest correction in a district that had posted strong gains through 2024. With 2.62 months of supply for detached homes, the North West detached sub-market remains close to balanced. The district's apartment segment is a different story: North West apartment prices are down 8.29 percent year over year to $283,300, with 4.59 months of supply pulling the district's overall benchmark toward negative territory. Communities like Edgemont, Hamptons, and Tuscany offer buyers a wide range of price points. Buyers focused on the North West's detached and semi-detached product will find a more competitive environment than in the denser Eastern districts.

City Centre and South

The City Centre recorded a total residential benchmark of $580,000, up 1.1 percent year over year, the second positive district in August alongside the West. Detached homes in the City Centre reached $995,700, up 2.24 percent from August 2025, supported by continued demand for inner-city infill properties in communities such as Hillhurst, Inglewood, and Ramsay. Semi-detached in the City Centre also stands out, with a benchmark of $965,700, up 2.09 percent year over year, reflecting sustained interest in inner-city attached product. City Centre apartments, at $303,500 and down 7.53 percent year over year, remain under pressure from the oversupply of new rental and ownership product downtown and in the Beltline. The South district posted a benchmark of $573,500, down 1.2 percent year over year, with detached at $715,200 and 2.97 months of supply. The South remains a tight market for detached product, with communities including Legacy, Silverado, and Mahogany drawing consistent buyer demand.

South East District

The South East recorded a total residential benchmark of $556,700, down 1.9 percent year over year. Detached homes in the South East sit at $703,600, down 1.70 percent annually, with 2.99 months of supply, essentially at the lower bound of balanced territory. Semi-detached in the South East is a notable sub-market strength, with the sales-to-new-listings ratio reaching 85.29 percent and a benchmark of $509,400. Row homes in the South East tell a different story, with prices down 6.24 percent to $423,700 and 3.16 months of supply. The district spans a wide range of communities from established McKenzie Towne and Copperfield to newer developments further east, and buyers here will find better value in the detached and semi-detached segments than in the row and apartment categories. The South East's overall modest annual decline reflects a relatively well-balanced market for lower-density product.

North East and East Districts

The North East is the weakest performing district in August 2026, with a total residential benchmark of $464,200, down 6.5 percent year over year, the steepest annual decline of any district in Calgary. Detached homes in the North East sit at $560,500, down 6.44 percent annually, and the district carries 5.36 months of detached supply, the highest detached months of supply of any district. Apartment homes in the North East have fallen 12.11 percent year over year to $251,900, with 9.69 months of supply, putting apartment sellers in an extremely challenging position. Row homes in the North East are down 12.22 percent to $331,100. The North district, while not included in the chart's 8-bar display, recorded a benchmark of $526,600, down 3.9 percent year over year, with North detached at $647,400 and 4.10 months of supply. The East district posted a benchmark of $398,600, down 3.5 percent annually, with detached at $489,500 down 3.11 percent. For buyers with affordability as the primary constraint and a long time horizon, the North, North East, and East districts represent the most accessible entry points in Calgary and the potential for meaningful recovery once the supply overhang clears.

What August 2026 Data Means for Calgary Buyers

August's report is a mixed signal for buyers. The pullback in sales to 1,660, down 16.4 percent year over year, reflects hesitancy across the market, particularly in the lower-price tiers that have been most affected by strong rental alternatives. However, the inventory picture is supportive in two ways: overall active listings fell year over year despite the slower sales pace, and the pullback in new listings (down 9.7 percent year over year) signals that sellers are not flooding the market. The result is that while months of supply drifted to 3.92, the upward momentum in supply is limited rather than accelerating. Buyers who have been waiting for conditions to worsen materially before entering the detached or semi-detached segment may find that the window closes faster than expected, particularly if new listing restraint continues into the fall.

Property type and district selection remain the most consequential variables for buyers in August's market. The detached segment is operating near balanced conditions city-wide at 3.39 months of supply, with the West and City Centre well below that figure. In those two districts, waiting for a better deal on detached product has costs: months of supply are near two to three months, prices are rising annually, and competing buyers remain active. In the apartment segment, the calculus is different. At 5.68 months of supply and prices down 8.18 percent year over year, apartment buyers have genuine leverage. City-wide, apartment sellers are adjusting expectations, and the most motivated sellers in the North East and East districts have cut prices meaningfully from 2024 levels. Buyers with the ability to tolerate a longer hold period can acquire apartments at or near cyclical lows across several districts.

For buyers financing a purchase, the sale-to-list ratio of 97.53 percent city-wide confirms that presenting dramatically below asking on detached homes will rarely succeed. In the apartment segment, particularly in North East and East sub-markets where the ratio has compressed further, there is real room to negotiate both price and conditions. Buyers who obtain pre-approval before entering negotiations will be better positioned to move quickly in the detached and semi-detached segments where well-priced homes are generating multiple-offer situations. Working with an agent who tracks daily absorption rates and active inventory by sub-district will provide the competitive intelligence needed to navigate a market with this level of internal divergence.

What August 2026 Data Means for Calgary Sellers

Detached and semi-detached sellers in August have cause for measured optimism. The detached benchmark of $744,300 is holding within a narrow range and has not posted the accelerating declines seen in the apartment segment. Semi-detached sellers are in the most enviable position: the only property type with positive annual price growth, 3.30 months of supply, and a sales-to-new-listings ratio that confirms steady buyer interest. Sellers in the West and City Centre districts are operating in conditions that remain more favorable than the headline city-wide figures suggest, and both districts posted annual price gains in August. For sellers in these areas who have been on the fence about timing, August data does not argue for waiting: conditions are unlikely to improve materially before year-end given the seasonal slowdown that typically arrives in October and November.

For sellers in the North, North West, and North East, the picture is more nuanced. The North East detached segment is under the most pressure of any quadrant at 5.36 months of supply. Sellers in this district who need to transact should price based on current comparable sales data rather than 2024 or early 2025 benchmarks. The 41-day average days on market across the city reinforces that overpriced properties will sit and accumulate days that weaken final negotiating outcomes. The 97.53 percent sale-to-list ratio applies to correctly priced listings; properties priced above market will land significantly below that ratio after price reductions and extended time on market. A competitively priced listing in any district will always outperform a listing that starts high and chases the market down.

Apartment condo sellers face the most difficult environment in this market cycle. At $295,400 for the city-wide benchmark, prices are 8.18 percent below last year and 13.5 percent below the August 2024 peak. Sellers at this price point must recognize that the pool of owner-occupier buyers is reduced by strong rental alternatives, and that investor demand has softened alongside price appreciation expectations. The path to a successful sale for apartment owners is aggressive, data-driven pricing, exceptional presentation, and a realistic timeline. Sellers who price to today's market, not the market of 18 months ago, will generate the best outcomes available in these conditions.

Calgary Market Outlook: Fall and Winter 2026

The most constructive long-term signal in August's report is that the overall inventory level fell year over year despite weaker sales. This is the mechanism by which corrections stabilize: supply does not accumulate indefinitely, and sellers eventually reduce new listing activity in response to softening prices. The detached segment is showing clearer signs of this stabilization than any other property type. With months of supply at 3.39 for detached and the annual benchmark decline holding at just 1.09 percent, the fundamentals for detached recovery are building even if the exact timing of the turn is uncertain. Semi-detached, already posting a positive annual price change, may be the leading indicator for what the detached market will look like in another two to four quarters.

The apartment segment will take longer to rebalance. Favourable rental conditions are keeping prospective first-time buyers in the rental market rather than transitioning to ownership, and the continued delivery of new apartment-style units from the substantial under-construction pipeline maintains supply pressure in the near term. CREB's economist commentary points to the departure from previous international migration levels as a key demand constraint for higher-density ownership product. If interprovincial migration to Alberta strengthens in response to relative affordability and employment opportunities, that incremental demand would arrive at a point when new starts are already declining, which would be meaningfully constructive for apartments. That scenario remains possible but is not the base case for the remainder of 2026.

The fall market of 2026 will bring the usual seasonal reduction in new listings and a more focused pool of buyers. For detached and semi-detached sellers who list in September and October with correct pricing, the reduction in competing inventory can partially offset the seasonal demand slowdown. For apartment buyers, fall represents a continuation of a favourable entry window that has been open since early 2026. The broader narrative remains one of a market in transition: the correction that started in high-density segments is maturing toward a floor, even as the exact timing of stabilization varies district by district and product type by product type. The data supports selective action for buyers and careful, informed preparation for sellers at every price point.

Data sourced from CREB Monthly Statistics Package, City of Calgary, August 2026. Released September 1, 2026.

Atinder Shoker

Real Estate Agent, Shoker Real Estate

Atinder Shoker is a Calgary real estate agent specializing in inner-city infill properties, new construction, and investment acquisitions. With deep expertise in the YYC market and a track record of off-market transactions, he helps buyers and sellers navigate one of Canada's most dynamic real estate markets.