Calgary Real Estate Market Report: May 2026 Stats and Analysis

Overview: Supply Builds as Sales Pull Back from Last Year's Pace

Calgary's housing market entered the peak spring season of 2026 with a clear shift underway. According to the CREB monthly statistics package released June 1, 2026, total residential sales in May reached 2,162 units, a 15.5 percent decline compared to May 2025. New listings also eased, falling 12.7 percent year over year to 4,226, but not quickly enough to offset the slower sales pace. The result: inventory climbed to 6,752 active listings, just 0.1 percent above May 2025, and the months of supply rose to 3.12 city-wide.

"The shift in supply is being felt in the market. More supply choice in the new and rental markets has created a more competitive environment for potential buyers. At the same time, concerns over rising cost of living and slower migration are also weighing on consumers," said Ann-Marie Lurie, Chief Economist at CREB. "While this has caused the overall resale market to shift to a balanced state, the supply pressure is having a more prevalent impact for apartment-style units, where conditions are favouring the buyer. This is also impacting price movements, with apartment prices continuing to trend down and other property types reporting a seasonal lift over the winter months."

The headline benchmark price for total residential properties reached $570,500 in May, up modestly from April's $568,800 but 3.0 percent below May 2025. That monthly uptick reflects seasonal strength in the detached segment, which has driven most of the price recovery since January. Underneath that headline number, however, the apartment condominium market continues to soften, sitting 9.1 percent below year-ago levels with more than five months of supply city-wide.

May 2026 Sales and Listings Activity

May's 2,162 sales were nearly identical to April's 2,104 units, suggesting that demand has stabilized rather than continued to fall. However, the year-over-year comparison remains challenging: May 2025 recorded 2,559 sales, making this month's result 15.5 percent weaker on an annual basis. Year to date through May, total sales sit at 8,900 units, 12 percent below the same period in 2025. The sales-to-new-listings ratio fell to 51 percent in May, just inside the balanced territory threshold and the lowest level recorded this year.

Days on market averaged 34 days in May, up from 32 days in May 2025, confirming that buyers are taking more time to evaluate options. The average sale-to-list price ratio came in at 98.27 percent, compared to 98.58 percent a year ago. Sellers are still achieving close to asking price, but the negotiating leverage that defined the 2021 to 2024 period has meaningfully shifted. The most competitive segments remain detached homes in the West and South districts, where months of supply are still well below two months.

Year-to-date inventory is running approximately 7 percent above the same period in 2025, which explains much of the downward pressure on prices. More choice is reducing urgency, and buyers in several segments now have time to be selective. The market has not tipped into a broad buyer's market, but the balance of power has clearly shifted away from sellers in the attached and apartment categories.

Calgary Home Prices by Property Type in May 2026

The total residential benchmark price of $570,500 in May represents a gentle upward drift from January's $554,400, but remains 3 percent below where the market stood a year ago. The monthly improvement reflects seasonal strength, particularly in the detached segment. On a seasonally adjusted basis, CREB notes that total residential prices have been relatively stable, with detached gains offsetting continued softening in the apartment category.

Detached Homes

The detached segment remains the most resilient corner of the Calgary market. With 1,192 sales in May against 2,916 units of inventory, the months of supply held at 2.45, well inside balanced territory. The benchmark price reached $747,800, a 2.4 percent year-over-year decline but a 0.32 percent gain over April. Since January, the detached benchmark has climbed from $724,000 to $747,800, reflecting ongoing seasonal demand. The West district led on price at $1,005,200, while the detached market in the South district posted the strongest absorption rate at 64.5 percent sales to new listings.

Year-over-year price changes for detached homes ranged from a modest 0.2 percent decline in the West to a 7.0 percent drop in the North East. Districts with tight supply, particularly the West at 1.77 months and the South at 1.85 months, continue to support prices for well-priced detached properties. Despite the annual decline, detached homes remain the most defensible segment for sellers willing to price accurately.

Semi-Detached Homes

Semi-detached properties recorded 217 sales in May, down 15 percent year over year, with 593 units of active inventory and 2.73 months of supply. The benchmark price of $691,100 reflects a 1.0 percent year-over-year decline, making this the most price-stable segment in the city on an annual basis. Month over month, the semi-detached benchmark edged up 0.13 percent from April. The South East district was the standout, with an 83 percent sales-to-new-listings ratio and just 1.6 months of supply, indicating competitive conditions for semi-detached buyers in that quadrant.

Row Homes and Townhouses

Row home sales fell 23 percent year over year to 350 units in May, with 1,173 active listings and 3.35 months of supply. The benchmark price of $422,300 is down 6.4 percent from May 2025, reflecting the growing inventory in this category. Row homes saw an increase in months of supply of 37 percent compared to last year, which is the second-largest supply shift after apartments. The North district is the most challenging sub-market for row homes at 8.7 percent below year-ago prices, while the West sits at just 3.1 months of supply with more modest price adjustments of 3.9 percent below last year.

Apartment Condominiums

The apartment condominium market is where Calgary's most significant correction is concentrated. With 403 sales in May against 2,070 active listings, months of supply reached 5.14, more than 40 percent above May 2025 levels and well into buyer's market territory. The benchmark price of $300,400 is 9.1 percent below May 2025 and continues to track lower on a year-over-year basis, even as some monthly stability has emerged. Since January, the apartment benchmark has oscillated in a narrow range between $298,600 and $301,400, suggesting the segment may be finding a near-term floor.

The North East apartment market is the weakest, with 7.94 months of supply and a 13 percent year-over-year price decline. The West apartment market is comparatively firm at 3.45 months of supply. Buyers shopping for a Calgary condo in May 2026 have meaningful selection and genuine negotiating leverage in most districts. The combination of elevated new supply, softening rental market conditions, and slower population growth continues to weigh on this segment.

Average Sale Prices by Property Type, May 2026

The benchmark price measures the typical home based on size and attributes, while the average sale price captures the full spread of transactions including luxury sales at the top end. In May 2026, the average sale price for all residential properties was $665,695, with detached homes pulling that figure up significantly. The gap between benchmark and average is widest in the detached category, where high-value sales in communities like Elbow Park, Aspen Woods, and the West district pull the average well above the median buyer's experience.

Calgary Real Estate Prices by District in May 2026

The district-level data for May 2026 reveals a city that is moving at different speeds depending on location. The West district continues to anchor the premium end of the market, while the North East and East districts are absorbing the most pronounced year-over-year price corrections. Understanding these distinctions is essential for both buyers comparing options and sellers setting expectations.

West District

The West district recorded a total residential benchmark price of $726,600 in May, the highest of any district, and the mildest annual decline at just 0.5 percent. Detached home inventory in the West sat at just 1.77 months of supply, with a 62 percent sales-to-new-listings ratio, making it the tightest segment in the city. The West detached benchmark price of $1,005,200 reflects the premium buyers pay for proximity to amenities in communities like Aspen Woods, Springbank Hill, and Strathcona Park. Sellers here remain in a relatively strong position relative to the broader market.

North West District

The North West posted a total residential benchmark price of $636,900, down 1.7 percent year over year. Detached inventory sits at just 2.01 months of supply with a detached benchmark of $799,000, down 1.1 percent annually. The North West semi-detached segment was one of the few to show positive annual price movement, up 2.0 percent to $692,300. Overall, the North West maintains a relatively stable profile given communities like Tuscany, Rocky Ridge, and Royal Oak, which attract family buyers who tend to hold properties through market cycles.

City Centre and South

The City Centre district reported a total residential benchmark of $568,800, down 3.4 percent year over year. The detached benchmark of $985,500 is down less than 1 percent annually, reflecting stable demand for inner city properties in communities like Hillhurst, Kensington, and Bridgeland. However, the City Centre apartment market is under pressure, with 5.42 months of supply and a benchmark price of $306,000 down 9.5 percent year over year. The South district held at $582,300, a 1.3 percent annual decline, with the detached market at 1.85 months of supply supporting relative price stability in communities like Mahogany and Legacy. South detached homes declined just 2.4 percent annually, showing reasonable resilience.

South East District

The South East recorded a total residential benchmark price of $556,200, down 3.9 percent year over year. Detached properties in the South East benchmark at $704,200, off 3.0 percent annually but with a positive monthly gain of 1.1 percent from April, the strongest month-over-month detached improvement of any district. The semi-detached South East market is among the most competitive in the city, with an 83 percent sales-to-new-listings ratio and just 1.6 months of supply, signalling genuine seller leverage for semi-detached product in communities like Cranston and Copperfield.

North East and East Districts

The North East and East districts continue to absorb the most significant year-over-year price corrections in the city. The North East total residential benchmark of $467,800 is down 7.5 percent from May 2025, with the detached market down 7.0 percent to $563,900 and apartment condominiums down 13 percent to $260,000 with 7.94 months of supply. The East district shows a 6.8 percent total decline to $400,800, with row homes under particular pressure at 19.67 months of supply, though that figure reflects a very thin market with just three row sales in May. These districts are where buyers have the most negotiating power in 2026, particularly for condominiums and attached properties in the sub-$500,000 range.

What May 2026 Data Means for Calgary Buyers

For buyers, May 2026 is the most favourable entry point since before the 2021 to 2023 surge. The overall market has shifted into balanced territory, which means conditional offers are being accepted again in most segments, due diligence periods are more widely honoured, and bidding wars are largely confined to the most desirable detached properties in tight-supply districts. If you are buying a detached home in the West or South, expect competition. If you are buying an apartment anywhere in the city, expect choice and room to negotiate.

The apartment condo segment deserves particular attention for buyers. The benchmark has fallen from around $330,000 in early 2025 to $300,400 in May 2026, and with 5.14 months of supply city-wide, inventory is not about to dry up quickly. This creates an opportunity to negotiate price, closing conditions, and inclusions. First-time buyers priced out of the detached market should look seriously at the apartment segment in the West and South East, where supply is more moderate and the product quality in newer builds is strong.

Rate sensitivity remains elevated. The buyers most active in the market are those who have secured solid pre-approvals and are buying with longer-term holding horizons in mind. The data does not support the view that Calgary is heading into a sharp downturn, but it equally does not support urgency-driven purchasing decisions. Take the time, do the inspections, and buy the right property at the right price rather than chasing the market.

What May 2026 Data Means for Calgary Sellers

For detached home sellers in the West, South, and North West, the market is still workable. Monthly prices moved higher in May, inventory remains below two months of supply in some pockets, and well-priced properties are still selling within 28 to 30 days on average. The key word is pricing: the era of listing 10 to 15 percent above comparable sales and finding a buyer is over. Homes priced at or just below market are selling. Homes priced aspirationally are sitting and accumulating days on market, which creates its own negotiating disadvantage.

For sellers of apartments and row homes, the conversation is harder. The benchmark has declined for twelve consecutive months on a year-over-year basis in the apartment category, and with 5.14 months of supply and more new inventory entering from purpose-built rental conversions and investor resales, there is no near-term catalyst to reverse this direction. Sellers in this segment who need to move should price competitively and consider absorbing some of the current market discount rather than testing buyer patience in a segment where they have many options.

Presentation and marketing remain critical regardless of property type. The days-on-market average has increased to 34 days overall, meaning buyers are taking their time. A property that photographs well, shows well, and has been properly prepared for market will still outperform a comparable unit that has not. The gap between the top of the market and the bottom is wider today than it has been in several years, and that gap is most visible in how quickly and how close to list price properties sell.

Outlook for Calgary Real Estate Summer 2026

The balance of evidence points to a stable-to-modestly-softening market through the summer. Sales activity has plateaued near the 2,100 to 2,200 range for two consecutive months, which suggests demand has found its near-term level. If new listings moderate in line with seasonal patterns heading into July and August, the months of supply could stabilize or even retrace slightly for the detached and semi-detached segments. The apartment market will remain the most challenged, with supply continuing to build from both resale and new construction sources.

CREB's observation about slower migration and rising cost-of-living pressures is important context. Calgary's dramatic population growth from 2020 to 2024 was the primary driver of the price surge, and any moderation in that trend flows directly into demand. If net interprovincial migration remains lower than peak levels through the rest of 2026, the market's recovery will be measured rather than sharp. The underlying fundamentals of the Calgary economy, including employment, energy sector activity, and infrastructure investment, remain supportive, but they are not sufficient on their own to re-ignite the kind of demand surge seen in prior years.

For both buyers and sellers, the summer of 2026 rewards preparation and precision. Buyers who have done their homework on price history and local supply levels will find genuine opportunity, particularly in the apartment and row home segments. Sellers who price accurately and invest in presentation will continue to transact. The window of extreme seller advantage has closed, and the market has settled into a more historically normal range of conditions that requires both parties to engage with realistic expectations.

Average Days on Market by Property Type, May 2026

How long homes are sitting before selling is one of the most direct signals of market pace. In May 2026, detached homes moved fastest at 28 days on average, reflecting the relative tightness in that segment. Apartments took the longest at 46 days, consistent with the elevated supply and buyer hesitancy in that category. All property types are taking longer to sell compared to May 2025, when the overall average was 32 days.

Data sourced from CREB Monthly Statistics Package, City of Calgary, May 2026. Released June 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, he helps buyers and sellers navigate one of Canada's most dynamic real estate markets.