May 5, 2026 - CALGARY REAL ESTATE UPDATE

In line with seasonal expectations, both sales and inventory levels trended up relative to March’s activity . Despite this typical monthly rise, April sales totalled 2,104 units, six per cent lower than levels reported in 2025.

" Sales were expected to ease this year as our market transitioned away from strong demand that was driven by previously rapid migration growth. Improved supply choice across the entire housing spectrum has reduced the urgency among potential purchasers, helping our market shift away from seller’s market conditions to more balanced conditions , " said Ann-Marie Lurie, CREB®’s Chief Economist. " However, the trend of limited supply choice in the detached market continues, while conditions favour the buyer in the apartment condominium market. " With 3,829 new listings in April, the sales-to-new-listings ratio remained at 55 per cent, supporting a modest monthly gain in supply. Inventory levels reached 5,973 units, nearly two per cent higher than levels reported last April. Overall, the months of supply remained just below three, representing relatively balanced conditions. However, this ranged from just over two months for detached homes to over four months for apartment-style homes. The unadjusted total residential benchmark price trended up compared with March, reaching $568,800. The monthly gain was mostly associated with seasonal improvements, which is expected heading into the spring market. Monthly gains were higher in the detached and semi-detached segments. Overall, compared with the previous year, prices remain three per cent lower, with modest year-over-year declines in the detached and semi-detached sector, while declines neared nine per cent for apartment-style units.

So far in 2026, conditions have varied, ranging from seller’s market conditions and price growth for detached homes in some parts of the city to buyer’s market conditions and price adjustments in the apartment condominium sector.

With 1,095 sales and 1,863 new listings, inventory levels reported a modest monthly gain. However, with 2,468 units in inventory, levels remain lower than those reported last year and below long-term trends, while months of supply remained just over two. The tighter conditions helped support prices in April, which continued to rise compared with March , causing the pace of year-over-year price declines to ease to under three per cent. As of April, the unadjusted benchmark price was $745,400. Within the detached market, conditions varied by district. Calgary’s North West, West and South districts experienced seller’s market conditions, with less than two months of supply, driving stronger monthly price gains. Meanwhile, conditions in the North East favoured the buyer, causing prices to trend down from the previous month. Benchmark price changes in April ranged from a year-over-year decline of eight per cent in the North East to a two per cent increase in the West district.

Recent improvements in new listings helped to support the rise in sales this month. Year to date, there have been 700 sales and 1,190 new listings, similar to last year’s levels. In April, both the sales-to-new-listings ratio and months of supply remained at the lower end of the balanced range. Conditions supported further monthly price growth, as the unadjusted benchmark price reached $690,000. Gains over the past three months have brought prices to levels only slightly lower than those reported last April. As in the detached sector, conditions vary by location. In April, prices trended up over March in all districts except the North East and East, which are also reporting higher months of supply. Tighter conditions in other areas supported monthly price gains. Year to date, benchmark prices improved over last year’s levels in the City Centre, North West and West districts.

Sales, new listings and inventory levels all trended over the previous month, in line with seasonal expectations. However, year to date, the pullback in sales has outpaced the pullback in new listings, causing the sales-to-new-listings ratio to average 51 per cent and inventories to trend higher than levels reported last year at this time. While inventories have improved, months of supply has remained in a relatively balanced range at nearly three months. Conditions vary significantly across the city, contributing to differing price trends. The North East district reported the highest months of supply and the steepest year-to-date price adjustments, at over 11 per cent. Meanwhile, the smallest year-to-date price adjustments occurred in the West, at less than a two per cent decline.

The pace of growth in new listings slowed in April relative to the gains in sales, causing the sales-to-new-listings ratio to improve to 46 per cent. However, this is not enough to prevent further inventory gains. In April, inventory rose to 1,920 units, nearly three per cent higher than last year and 27 per cent above long-term trends. With over four months of supply, conditions continue to favour the buyer, preventing any significant upward pressure on prices. As of April, the unadjusted benchmark price was $301,400, slightly higher than March. Gains were mostly driven by improvements in the North West, South East and West districts, while prices continued to trend down in the North East, North and East districts. Compared with last April, benchmark prices have declined by nearly nine per cent, with the steepest declines in the North East, East, North and South East districts.

✨ MAY IN CALGARY ✨ This May brings some seasonal favourites and some new & incredible experiences...

🐧 Wild After Hours: Penguins (18+)

Wander into the unknown with this adults-only evening experience at the Wilder Institute/Calgary Zoo . Your ticket includes after-hours access to the Penguin Plunge habitat, a four-course dinner at Safari Lodge, and a captivating presentation on penguins.

Where: Wilder Institute/Calgary Zoo When: May 2 & 16

☕️ Mother’s Day Tea

Treat the motherly figures in your life to fancy afternoon tea in the historic conservatory at Lougheed House . Museum admission is included in your reservation.

Where: Lougheed House When: May 9 & 10

🎪 The Time Machinist by Le Cirque de la Nuit

Experience the captivating mysteries of time travel, presented by Le Cirque de la Nuit, at The GRAND . The bold and eccentric Time Machinist, Owen Mittagen Vottenberg III, is inviting you on an unforgettable adventure through the ages. Will you accept it?

Where: The GRAND When: May 21-24

🎸 Triumph: Rock & Roll Machine Reloaded

Turn it up for a legendary night of classic rock as Triumph brings the Rock & Roll Machine Reloaded tour to Calgary. Soaring guitar solos, arena-sized anthems, and a high-voltage stage show.

Where: Scotiabank Saddledome When: May 8

🏃‍♂️ Servus Calgary Marathon

Join the Servus Calgary Marathon , Canada's longest running marathon. With varying distances, there is something for every type of runner!

Where: North of Sam Centre When: May 23-24

🗓️ Opening May long weekend

These Calgary attractions officially open for the 2026 season over the May 16th weekend:

Calgary Farmyard: May 15 - October 25

Calaway Park: May 16 - August 30

Heritage Park: May 16 - October 12

Downhill Karting: May 16 - October 15

Cobb's Adventure Park: May 16 - October 25