Overview: Spring 2026 Opens with Tightening Supply and Improving Absorption
March 2026 arrived with the clearest signs yet that Calgary's spring market is engaging. According to the CREB monthly statistics released April 1, 2026, total residential sales reached 1,881, up sharply from February's 1,526 on a seasonal basis, though still 12.76 percent below March 2025. New listings climbed to 3,409 as sellers entered the market in anticipation of spring demand, and active inventory reached 5,395 units, a 4.7 percent increase year over year. Despite the larger pool of available listings, the months of supply improved to 2.87, down from February's 3.16, driven by a meaningful uptick in buyer activity across the detached and semi-detached segments.
The March data reinforces the split market story that has defined Calgary real estate since mid-2025. The detached segment tightened to just 2.22 months of supply, approaching conditions associated with a seller's market, while the semi-detached segment sits at 2.49 months, similarly competitive. Row homes improved to 2.98 months, returning below the balanced market threshold for the first time since late 2025. Apartments, however, moved slightly in the wrong direction to 4.62 months from February's 4.58, suggesting the inventory overhang in that segment has not been resolved by the spring seasonal lift. The divergence between property types remains as pronounced as at any point in the current correction cycle.
The total benchmark price reached $565,600, up from February's $560,500, a month-over-month gain that reflects improving conditions in the upper segments. Days on market improved meaningfully to 35 from 42, and the sale-to-list ratio reached 98.16 percent, the strongest reading in several months and a clear signal that buyers in the detached and semi-detached categories are competing in earnest.
March 2026 Calgary by the numbers: 1,881 sales, 3,409 new listings, 5,395 active listings, 2.87 months of supply, and a total residential benchmark price of $565,600.
March 2026 Sales and Listings Activity
The seasonal jump from 1,526 sales in February to 1,881 in March is consistent with Calgary's typical spring activation pattern. The more telling figure is the year-over-year comparison: March 2026 sales are 12.76 percent below March 2025, which was itself a strong spring month. This comparison illustrates the broader softening in transaction volumes that has accompanied the correction in prices, as some buyers continue to wait on the sidelines and the pool of motivated sellers has not fully matched available buyer appetite at current price levels.
New listings at 3,409 represent a significant spring surge from February's 2,766, as anticipated. The resulting active inventory of 5,395 units is the highest March inventory level in recent years, yet the improved sale-to-list ratio of 98.16 percent and reduced days on market of 35 confirm that the incremental supply is being absorbed more efficiently than it was through the winter months. The market's ability to process higher listing volumes while improving its absorption metrics is a constructive sign for the spring season.
The district-level story within these aggregate numbers is important. The West and South districts are processing inventory quickly, with detached listings receiving strong buyer attention and in some communities, multiple offers. The North East and East are moving more slowly, where apartment and row inventory continues to accumulate relative to buyer interest. The 35-day average days on market is a city-wide blend of very fast detached sales and slower apartment absorption, and those two realities should not be conflated by either buyers or sellers making decisions in this market.
Gold dashed line marks the 4-month buyer's market threshold. Source: CREB Monthly Statistics, March 2026.
Calgary Home Prices by Property Type in March 2026
The March total benchmark of $565,600 continues a modest recovery trend from January's $554,400 and February's $560,500, driven by month-over-month price gains across all four property types. The year-over-year figure of minus 4.18 percent is the lens through which most of the market analysis is framed, but the month-over-month trend tells a secondary story: the spring market is providing some seasonal price support in the segments where supply is tightest. Whether that support persists into April and May will depend on whether buyer volumes continue to improve relative to the pace of new listings entering the market.
Source: CREB Monthly Statistics, March 2026
Detached Homes
Detached homes entered the spring market in March 2026 with the strongest supply conditions of any property type and an improving price trend. The benchmark of $741,300 is up from $734,300 in February, continuing a month-over-month recovery that began in January. With just 2.22 months of supply, the detached segment is firmly in balanced-to-tight territory, and some communities in the West and South are tighter still. Year over year the detached benchmark is down 3.3 percent, but the month-over-month trajectory and supply conditions suggest the annual gap may begin to narrow if spring buyer activity holds. For sellers of well-positioned detached homes, March is the beginning of the most advantageous listing window of 2026.
Semi-Detached Homes
The semi-detached segment continues to be the most price-resilient property type in Calgary's market, with a March 2026 benchmark of $686,100, up from $682,200 in February. At 2.49 months of supply, semi-detached homes have effectively exited buyer's market conditions and returned to balance. The year-over-year decline of just 0.85 percent is the smallest among all property types, and given the improving monthly trend, the semi-detached benchmark is on a trajectory where year-over-year gains become possible before the end of spring 2026 if current demand patterns continue. Semi-detached homes in established communities with good transit and amenity access are performing particularly well relative to the broader market.
Row Homes and Townhouses
March 2026 brought a notable milestone for the row home segment: for the first time since late 2025, row homes fell back below the four-month supply threshold, reaching 2.98 months. The benchmark of $423,900 is a marginal improvement over February's $423,600, and the year-over-year decline moderated to 6.20 percent. These are early signals that the row home correction may be finding a floor as spring buyers prioritize affordability and attached-home living. Row homes represent some of the best value in Calgary's current market for buyers who want more square footage and outdoor space than an apartment but cannot stretch to the detached price point. The current window of 2.98 months of supply is the most favourable buyer-side condition in this segment in months, and that window may narrow as spring activity picks up further.
Apartment Condominiums
The apartment segment delivered a mixed signal in March 2026. On the price side, the benchmark ticked back above $300,000 to $300,300, reversing February's brief dip below that threshold. Month over month, this is a marginal improvement, but on a year-over-year basis, apartments remain the most under-pressure property type at minus 9.27 percent. More concerning for the near-term outlook is the supply reading: apartments moved slightly in the wrong direction in March, to 4.62 months from February's 4.58, despite the spring seasonal lift in sales. The spring market has not yet resolved the structural inventory overhang in this segment. For apartment buyers, March conditions remain the most favourable of any property type in Calgary, with over four months of supply and motivated sellers who have been waiting through a long correction. For sellers, pricing aggressively and presenting impeccably remains the only reliable path to a result.
Source: CREB Monthly Statistics, March 2026
The Calgary apartment benchmark returned to $300,300 in March 2026 after briefly dipping below the $300,000 mark in February. Despite the modest monthly recovery, apartments remain in buyer's market territory with 4.62 months of supply and a 9.27 percent year-over-year price decline, making this the most buyer-favourable property type in the city heading into spring.
Calgary Real Estate Prices by District in March 2026
The district picture in March 2026 continues to be defined by a wide spread between the West end of the city and the North East. The West district, which briefly posted a year-over-year gain in February, returned to a marginal minus 0.2 percent in March but remains by far the best-performing district in the city. At the other end of the spectrum, the North East recorded minus 8.2 percent year over year, driven by the apartment-heavy inventory profile of that area. Four districts, West, North West, City Centre, and South, all posted annual declines below the four percent threshold, while three districts, South East, North East, and East, exceeded that level.
Source: CREB Monthly Statistics, March 2026. Total residential benchmark, all property types combined.
West District: Nearly Flat and the City's Strongest Performer
The West district returned to a marginal minus 0.2 percent year-over-year total benchmark decline in March 2026, after briefly posting a positive reading in February. This fractional movement makes the West the strongest-performing district in the city for the third consecutive month. The West's performance is anchored by its detached market, where constrained supply, consistent demand from established-income buyers, and limited new development create an environment where prices are highly resistant to broader market pressure. Detached homes in the West are seeing some of the lowest days on market in Calgary and the highest sale-to-list ratios among any product type in any district.
South: Outperforming the City Average
The South district posted a minus 2.6 percent year-over-year total benchmark decline in March, the second-best district result behind the West. The South's performance reflects both a strong detached market and a more moderate apartment correction relative to the North East and East. High volumes of buyer activity in established south Calgary communities, particularly in the detached segment, have kept absorption rates healthy. For buyers targeting affordably priced detached homes, the South continues to offer more selection than the West while still maintaining relatively competitive conditions.
North West and City Centre: Modest Declines in a Healthy Range
The North West posted minus 3.8 percent year over year in March and City Centre recorded minus 3.9 percent. Both districts sit just below the minus four percent threshold, making them part of the better-performing half of Calgary's district landscape. The North West benefits from a diverse mix of detached, semi-detached, and row product, and communities with strong amenity and transit access continue to hold value better than the district average. City Centre's result reflects improving buyer interest in downtown-adjacent condominium product, where some bottom-fishing activity is beginning to show up in the data and providing modest price support in a segment that has been under sustained pressure.
South East: Above-Average Correction Continues
South East's 5.7 percent year-over-year total benchmark decline in March places it squarely in the more deeply corrected group of districts. The South East has a significant volume of row and apartment inventory, and new construction alternatives in some communities maintain competitive pressure on resale pricing. Detached buyers in the South East can find more value relative to the West and North West while still accessing many of the same amenities, making this district one of the better propositions for buyers who have detached space requirements but a constrained budget. For row and apartment buyers, the South East offers genuine selection and negotiating room.
North East and East: Deepest Declines Persist
The North East recorded minus 8.2 percent year over year, the steepest district decline in Calgary for March 2026, and the East posted minus 5.1 percent. Both districts' apartment-heavy inventory profiles make them the most sensitive to the ongoing softening in that property type. The North East in particular has a large proportion of apartment and attached product in both the newer and established segments, and the combination of high inventory and relatively price-sensitive buyers has sustained the correction in that area. For buyers who prioritize affordability over location specifics, these districts offer the widest range of sub-$350,000 product options in the city, including both apartment and row home inventory at price points that are well below the Calgary benchmark.
What March 2026 Data Means for Calgary Buyers
For detached home buyers, March 2026 is the most competitive market environment since spring 2025. With 2.22 months of supply and a sale-to-list ratio approaching 98.2 percent, the detached segment has effectively exited the buyer-friendly conditions that characterized much of the correction period. Buyers who were planning to purchase a detached home in 2026 and have not yet acted should understand that the window of low competition has narrowed considerably. If you have your financing arranged and clear property criteria, waiting for a further price reduction in the detached segment is unlikely to be rewarded. The risk now runs in the other direction: waiting could mean competing against more buyers for fewer listings as the spring season progresses.
For apartment buyers, the March data continues to support a patient and opportunistic approach. The 4.62 months of supply and 9.27 percent year-over-year price decline confirm that apartments remain firmly in buyer's market territory, and the slight worsening in supply from February to March suggests the spring seasonal lift has not yet resolved the inventory overhang. The $300,300 benchmark means that sub-$300,000 apartments are still widely available when you account for the spread below the median. If you are buying an apartment in Calgary in March 2026, you have time, selection, and leverage. The most important thing you can do is ensure you are comparing current sales, not 2024 or 2025 prices, when making your offer.
Row home buyers occupy a genuinely interesting position in March. The return to below four months of supply, at 2.98, is a meaningful shift from January's 4.22 months, suggesting that row home buyers have returned to this segment in numbers. If you are targeting a specific row home community, March may be among the last months where you can negotiate meaningfully below asking price before competition intensifies further into spring. The $423,900 benchmark still represents roughly a six percent discount from year-ago levels, which is a real financial advantage for buyers who can move confidently now.
What March 2026 Data Means for Calgary Sellers
Detached and semi-detached sellers entering the market in March and April 2026 are doing so in the most supportive selling conditions in over a year. Month-over-month price gains, improving days on market, and rising sale-to-list ratios all point to a market that is rewarding well-priced, well-presented listings with competitive results. If you have been holding off listing your detached or semi-detached property, the spring window is open now and is likely to remain favourable through the peak April to June period. Price your home relative to current comparables, and you should achieve a result that reflects the improving demand environment.
Row home sellers should take the March supply improvement as a constructive signal. The tightening from 4.22 months in January to 2.98 months in March means more buyers are competing for available row product. If you are listing a row home that is in good condition and priced accurately for today's market, there is a genuine path to a solid result in the spring period. Sellers who have been waiting for this improvement to materialize before listing may want to act in April while the supply tightening is still recent and buyer urgency has not yet peaked and receded.
Apartment sellers continue to face the most challenging conditions of any property type. The slight worsening in apartment months of supply from February to March, despite the seasonal lift in buyer activity, is a concerning signal. The spring season has not yet translated into meaningful improvement in the apartment segment's supply-demand balance. If you need to sell an apartment in 2026, the spring season offers better buyer activity than winter, but you should price for today's market, not for where you expect prices to go. A proactive pricing decision made now is better than a reactive one made in June when your listing has accumulated days on market and the stronger segment of spring is behind you.
Outlook: Spring Market Trajectory into April and May
The March data sets up what could be a genuinely bifurcated spring season in Calgary real estate. The detached and semi-detached segments are entering April in the best supply conditions since spring 2025, with improving absorption metrics and month-over-month price gains. If buyer activity accelerates as expected through April and May, the detached segment may begin to post year-over-year benchmark gains before the end of the second quarter. That would be a significant milestone after the sustained correction period that began in mid-2025.
The apartment segment's trajectory into spring is more uncertain. The fact that apartment months of supply worsened slightly from February to March, despite higher overall sales volumes, suggests the incremental spring buyer activity is being disproportionately captured by the detached and semi-detached segments. Apartments need a sustained improvement in absorption, likely driven by either a meaningful rate reduction from the Bank of Canada or a significant pullback in new listing supply, to shift supply conditions in that segment. Watch the April apartments months of supply figure closely. If it fails to improve below four months despite peak spring activity, it would signal a deeper structural issue that will not be resolved by seasonal factors alone.
The broader economic context remains the most important variable. If the Bank of Canada follows through with anticipated rate reductions in spring, the affordability improvement in the apartment and row segments could generate a genuine inflection in buyer demand for those property types. A 50 basis point reduction in the policy rate translates to a meaningful monthly payment reduction on a $300,000 mortgage, which is precisely the price range where payment sensitivity is highest among Calgary's apartment buyer pool. Any rate catalyst between now and June could compress the timeline for recovery in the high-density segments considerably.
Data sourced from CREB Monthly Statistics Package, City of Calgary, March 2026. Released April 1, 2026.
