May 2026: Market Conditions and Price Trends in Calgary

The Calgary housing market in May 2026 was generally balanced, although conditions varied significantly across different property types. Inventory levels continued to rise in line with seasonal trends, reaching 6,752 units. While inventory remained similar to levels recorded in May 2025, it was notably above long-term averages due to increased supply in the apartment and row housing sectors. In contrast, detached home inventory remained lower than both last year and historical norms, indicating tighter conditions in that segment of the market.

Sales activity softened throughout the month, with 2,162 residential transactions recorded, representing a significant decline from the previous year. Although new listings also decreased, the reduction in sales was greater, causing the sales-to-new-listings ratio to fall to 51 percent. As a result, inventory accumulated and months of supply increased. Market conditions differed by housing type, ranging from relatively balanced conditions in the detached sector to more buyer-friendly conditions in the apartment condominium market, where supply levels were considerably higher.

Housing prices showed mixed performance across Calgary. The total residential benchmark price reached $570,500 in May, reflecting gains from both April and the beginning of the year. However, prices remained below levels reported one year earlier. Detached homes experienced the strongest price growth, with benchmark values rising steadily since January. Apartment condominiums followed a different trend, as prices continued to decline due to elevated inventory levels and weaker demand. Overall, seasonally adjusted residential prices remained relatively stable as gains in detached homes offset declines in apartment-style properties.

The detached and semi-detached housing sectors remained relatively balanced despite slower sales activity. Detached homes benefited from limited inventory and stable demand, supporting price stability across much of the city. Semi-detached homes also recorded modest inventory growth while maintaining balanced market conditions. Price performance varied across districts, with some areas achieving record highs while others experienced slight declines. These variations highlighted the importance of local market dynamics within Calgary’s broader housing market.

Among the surrounding communities, market performance differed considerably. Airdrie experienced slower sales and moderate price declines due to increased competition from nearby markets and new-home developments. Cochrane stood out as one of the stronger regional markets, with sales continuing to exceed long-term trends and prices showing steady improvement throughout the year. In Okotoks, inventory remained relatively limited and months of supply stayed low, helping support prices despite some monthly volatility. Overall, regional markets remained active, though rising supply and changing buyer preferences continued to influence market conditions across the Calgary area.