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July 2026: Calgary Home Prices Edge Lower as Supply Grows
Sergey Korostensky
Wednesday, August 5, 2026
Calgary’s housing market continued its seasonal slowdown in July, with both sales and new listings declining from June as buyers and sellers adjusted to typical mid-summer conditions. A total of 1,904 homes changed hands during the month, down nine per cent from a year earlier, while 3,323 new listings represented a 15 per cent annual decline. The sales-to-new-listings ratio held steady at 57 per cent, reflecting a market that remains balanced overall despite softer activity.
The city’s benchmark residential price eased to $569,200 in July, slipping slightly from June and sitting two per cent below last year’s level. Apartment condominiums continued to experience the sharpest correction, with benchmark prices falling more than eight per cent year over year as elevated inventory and a large pipeline of new apartment construction weighed on the market. Detached homes remained comparatively resilient, posting a modest annual decline of less than two per cent, with the largest price adjustments occurring in Calgary’s North East and North districts.
According to the Calgary Real Estate Board, the shift in market conditions reflects the combined impact of several years of strong housing construction and a slowdown in international migration, particularly affecting higher-density housing. More than 17,000 apartment-style units remain under construction across the city, contributing to increased supply, softer rental conditions and continued downward pressure on condominium prices. Despite weaker demand this year, overall market activity remains stronger than levels experienced during the downturn between 2015 and 2019.
Market conditions varied by property type. Detached and semi-detached homes continued to benefit from relatively balanced supply, although detached sales slipped to 1,012 units and months of supply approached three months. Semi-detached prices remained largely stable at $691,000, while row housing experienced growing signs of oversupply, with benchmark prices declining six per cent year over year to $418,500. Apartment condominiums remained firmly in buyers’ market territory, with nearly five months of supply and benchmark prices falling to $297,600, more than 13 per cent below their 2024 peak.
The city’s benchmark residential price eased to $569,200 in July, slipping slightly from June and sitting two per cent below last year’s level. Apartment condominiums continued to experience the sharpest correction, with benchmark prices falling more than eight per cent year over year as elevated inventory and a large pipeline of new apartment construction weighed on the market. Detached homes remained comparatively resilient, posting a modest annual decline of less than two per cent, with the largest price adjustments occurring in Calgary’s North East and North districts.
According to the Calgary Real Estate Board, the shift in market conditions reflects the combined impact of several years of strong housing construction and a slowdown in international migration, particularly affecting higher-density housing. More than 17,000 apartment-style units remain under construction across the city, contributing to increased supply, softer rental conditions and continued downward pressure on condominium prices. Despite weaker demand this year, overall market activity remains stronger than levels experienced during the downturn between 2015 and 2019.
Market conditions varied by property type. Detached and semi-detached homes continued to benefit from relatively balanced supply, although detached sales slipped to 1,012 units and months of supply approached three months. Semi-detached prices remained largely stable at $691,000, while row housing experienced growing signs of oversupply, with benchmark prices declining six per cent year over year to $418,500. Apartment condominiums remained firmly in buyers’ market territory, with nearly five months of supply and benchmark prices falling to $297,600, more than 13 per cent below their 2024 peak.
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