Calgary Real Estate Market Update May 2026: Apartment Prices Ease as Inventory Remains High

The Calgary real estate market continued to shift in May 2026, with more inventory giving buyers additional options, especially in the apartment condo and row home segments.

According to the Calgary Real Estate Board, total inventory reached 6,752 units in May, which is similar to last year but still 11% higher than long-term trends for this time of year. The increase is mainly coming from apartment-style condos and row homes, while detached home inventory remains tighter.

Sales also slowed in May, with 2,162 sales, down 16% compared to May 2025. New listings also declined by 13% year-over-year, but sales slowed at a faster pace, which helped push the market toward more balanced conditions.

For buyers, this means there is more choice than we saw in the past few years. For sellers, pricing strategy is becoming more important, especially in the condo and townhouse market.

Calgary’s Overall Market Is More Balanced

The sales-to-new-listings ratio in May was 51%, which is a sign of a more balanced market overall. However, not every property type is moving the same way.

Detached homes had about 2.5 months of supply, which is still relatively balanced and supportive of stable prices. Apartment condos had more than five months of supply, creating more buyer-friendly conditions.

The total residential benchmark price in Calgary was $570,500 in May 2026. This is higher than January’s benchmark price of $554,400, but still about 3% lower than May 2025.

The main reason prices are holding better overall is because detached homes have improved since the beginning of the year, while apartment condo prices have continued to soften.

Detached Homes Remain More Stable

Detached homes continue to be one of the stronger parts of Calgary’s resale market.

In May, there were 1,192 detached sales and 2,195 new listings, giving this segment a sales-to-new-listings ratio of 54%. Inventory increased slightly from the previous month, but detached supply was still 3% lower than last year.

The detached benchmark price reached $747,800 in May, up from $724,000 in January.

This shows that detached homes are still seeing some price support, especially in areas where supply remains limited. That being said, conditions vary by district. The West district remains stronger, while the North East district is seeing more price pressure.

For homeowners thinking about selling a detached home in Calgary, the market is still active, but buyers are becoming more selective. Presentation, pricing, and strong marketing are very important right now.

Start browsing the latest Calgary detached home listings today, or get expert guidance on how to buy a home in Calgary with confidence.

Semi-Detached Homes See Modest Price Improvement

The semi-detached market also remained relatively balanced in May.

There were 217 sales and 375 new listings, creating a sales-to-new-listings ratio of 58%. Months of supply stayed just under three months.

The benchmark price for semi-detached homes reached $691,100, up from $667,000 in January. However, prices are still about 1% lower than May 2025.

The North West and West districts have performed well, with year-to-date record-high prices reported in those areas. This shows that location continues to play a big role in pricing.

Row Home Inventory Continues to Build

The row home market slowed in May after stronger activity in April.

There were 350 sales and 695 new listings, bringing the sales-to-new-listings ratio down to 50%. Months of supply moved above three months, giving buyers more options than they had during the very tight market of previous years.

The benchmark price for row homes was $422,300 in May. Prices have improved from the beginning of the year, but they remain more than 6% lower than last year.

The biggest year-over-year price declines were in the North East and East districts, where prices dropped by more than 10%. The West district saw the smallest decline.

For buyers looking for better affordability, row homes may offer more opportunity compared to detached homes. For sellers, it is important to understand the competition in your area before listing.

Apartment Condo Prices Continue to Ease

Apartment condos are facing the most pressure in Calgary’s current market.

In May, there were 403 apartment sales and 961 new listings, causing the sales-to-new-listings ratio to drop to 42%. Months of supply moved above five months, which creates conditions that are more favourable for buyers.

The apartment benchmark price was $300,400 in May, lower than January and 9% below May 2025.

This price softening is being driven by higher supply, more options in the rental market, and added competition from new construction. Buyers now have more choices, and sellers need to be very careful with pricing.

Price declines were seen across every district, with double-digit declines in the North East, North, and East districts. The North West district had the smallest decline at around 6%.

For first-time buyers and investors, this could create opportunities. However, it is important to compare condo fees, building condition, reserve fund health, rental rules, and location before making a decision.

Regional Market Update

Airdrie

Airdrie’s market has also shifted toward balanced conditions. The sales-to-new-listings ratio was 53%, with just over three months of supply.

The benchmark price was $515,000 in May, higher than January but still 5% lower than last year. More competition from new homes and surrounding areas is putting pressure on prices.

Cochrane

Cochrane continues to perform better than many nearby markets. Sales were higher than last year and above long-term trends.

There were 115 sales and 188 new listings in May, with a sales-to-new-listings ratio of 61%. The benchmark price reached $576,400, up from $550,800 at the start of the year.

Okotoks

Okotoks remains relatively tight, with a little over two months of supply. There were 72 sales and 121 new listings in May.

The benchmark price was $618,900, down from April and last year, but still higher than the beginning of the year. Lower inventory continues to support the market, although nearby supply in south Calgary and surrounding areas may be limiting stronger price growth.

What This Means for Calgary Buyers

Buyers have more options today than they did during the extremely competitive market of the past few years.

This is especially true for apartment condos and row homes, where inventory has increased and prices have softened. Buyers may have more room to negotiate, but good properties in strong locations can still move quickly.

For detached homes, the market is more balanced, but supply is still not excessive. Buyers should be prepared, pre-approved, and ready to act when the right home comes up.

What This Means for Calgary Sellers

Sellers need to be more strategic in 2026.

The market is no longer moving the same way across every property type. Detached homes are holding better, while condos and row homes are facing more competition.

If you are selling, your pricing must match today’s market, not last year’s market. Professional photos, strong online marketing, and the right pricing strategy can make a major difference.

Overpricing in a market with rising inventory can lead to longer days on market and price reductions.

Final Thoughts

Calgary’s May 2026 real estate market is more balanced overall, but the experience is very different depending on the property type.

Detached and semi-detached homes remain more stable, while apartment condos are seeing more supply and price pressure. For buyers, this creates opportunity. For sellers, it means strategy matters more than ever.

Thinking about buying or selling in Calgary? I can help you understand your local market, compare recent sales, and build a plan that fits your goals.

Should I sell my Calgary home now or wait?

It depends on your property type, location, and price range. Detached homes are still seeing balanced conditions, while condos and row homes have more competition. A proper pricing and marketing strategy is very important in the current market.