Calgary Real Estate Market Update (February 2026)

If you are trying to make sense of the Calgary housing market right now, you might feel like you are getting mixed signals. Are we in a buyer's market or a seller's market? The short answer: It depends entirely on what you are trying to buy or sell. February 2026 data shows a fascinating divide in Calgary. While the detached and semi-detached home markets are tightening up, apartment-style condos are seeing an influx of excess supply. Overall, citywide conditions are sitting relatively balanced with about three months of supply, but a closer look reveals a highly segmented market.

Here is your comprehensive breakdown of the Calgary real estate market for February 2026, and what it means for your next move.

The Big Picture: Why is the Market Splitting?

Currently, the total residential benchmark price sits at $560,500—up 1% from January, but down 4% compared to this time last year. Sales declined by 11% year-over-year (with 1,526 total sales), largely due to a sharp pullback in the condo and row sectors.

According to CREB®’s Chief Economist, Ann-Marie Lurie, this divergence is being driven by two main factors:

1. Slowing Migration: Fewer people are moving into the province compared to the peaks of the last couple of years.

2. A Construction Boom: Calgary reported record-high housing starts last year. There are nearly 18,000 apartment units currently under construction. Even though many are slated for the rental market, this massive wave of inventory is heavily impacting condo ownership demand. 

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Property Type Breakdown

Detached Homes: Tight Inventory Under $700k

The detached market is holding strong, particularly for homes priced below $700,000, where buyers are struggling against limited inventory.

• Benchmark Price: $734,300 (+1% month-over-month, -3% year-over-year)

• Months of Supply: Just under 3 months (Balanced/Seller's Market territory)

• Market Nuance: Location matters. The West district is highly competitive with less than two months of supply, while the North East is dealing with excess inventory, keeping prices flat.

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Semi-Detached: The Tightest Market in the City

If you are selling a semi-detached home, you are currently holding the best hand in the market. This segment saw the lowest supply levels across all property types.

• Benchmark Price: $682,200 (+2% month-over-month, flat year-over-year)

• Months of Supply: 2.4 months

• Market Nuance: Strong seasonal demand and low inventory are driving monthly price gains, especially in the City Centre, North West, and West districts.

Row / Townhomes: Returning to Balance

After a surge of new listings in January, the row house market has settled back into balanced territory, providing a middle ground for buyers and sellers.

• Benchmark Price: $423,600 (Up from January, but -5% year-over-year)

• Months of Supply: Just over 3 months

• Market Nuance: Price trends vary wildly by neighborhood. While the North East and East have seen year-over-year price declines over 10%, the West and City Centre have held their value almost entirely.

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Apartment Condos: A Buyer’s Market

With high supply and slower sales, apartment-style properties are heavily favoring buyers right now. Condos represent a significant portion of the city's 4,822 active inventory units.

• Benchmark Price: $298,600 (-1% month-over-month, -9% year-over-year)

• Months of Supply: Well over 4 months (reaching up to 11 months in the North East!)

• Market Nuance: The persistently high supply is weighing heavily on prices. Buyers looking in the North East, East, and South East districts have maximum leverage, as these areas have seen year-over-year price drops exceeding 10%.

Watch other related Blog: Find the best deal in Downtown Calgary

What This Means For You

For Buyers: If you are looking for an apartment condo, this is your moment. You have the luxury of time, abundant choices, and strong negotiating power. However, if you are shopping for a detached home—especially under $700,000—you need to have your financing in order and be prepared to act quickly when the right property hits the market.

For Sellers: Pricing strategy is everything right now. If you are selling a detached or semi-detached home in a high-demand district (like the West or City Centre), you are in a great position to capture seasonal gains. If you are selling a condo, you must be priced competitively and ensure your home shows flawlessly to stand out in a crowded market.

Navigating a segmented market requires expert, localized strategy. Contact us today to find out exactly what your specific property is worth, or to build a tailored plan for your home search!

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Ready to find out where your home stands in today’s shifting market? > Whether you are living in a highly competitive semi-detached home or looking to strategically price your downtown condo, knowing your current market value is the first step. Click here to get your free, no-obligation home valuation today!