August 2026 Real Estate Market Report: Calgary and Surrounding Area

As Calgary’s housing market moves through the summer of 2026, the latest data released by the Calgary Real Estate Board for July 2026 indicates that market conditions continue to shift toward greater balance.

Sales and new listings both eased compared with June, with the decline in new listings helping keep the sales-to-new-listings ratio relatively stable. At the same time, price pressure remains concentrated within higher-density housing, particularly apartment-style properties.

Detached and semi-detached homes continue to demonstrate greater resilience, supported by comparatively tighter supply and more stable demand. Row housing remains more balanced, while apartment-style homes continue to face elevated inventory and buyer-favourable conditions.

Overall, Calgary’s market is increasingly defined by differences between property types. Buyers have more choice than they did during the tightest periods of the recent cycle, particularly in higher-density housing, while sellers of detached and semi-detached homes continue to benefit from comparatively stronger demand.

CITY OF CALGARY HIGHLIGHTS

Sales, Listings and Inventory

Total residential sales in Calgary reached 1,904 units in July 2026, down approximately 9% from July 2025 and lower than June’s 2,197 sales.

New listings totalled 3,323 units, representing a decline of approximately 15% from last year.

The sales-to-new-listings ratio remained relatively stable at 57%, indicating that the reduction in new listings was occurring alongside the decline in sales.

CREB’s latest release points to a market that is becoming increasingly balanced as seasonal activity slows through the summer months. The composition of inventory remains particularly important, however, as higher-density properties continue to account for a disproportionate share of available supply.

Calgary had 6,795 active listings in July, down approximately 5% from July 2025. While overall inventory is lower than last year, the market remains considerably more supplied than during the exceptionally tight conditions experienced earlier in the cycle.

Sales activity also varies considerably by property type. Detached sales reached 718 units, while semi-detached sales totalled 160 units. Row housing recorded 230 sales, and apartment-style homes recorded 341 sales.

Benchmark Prices by Segment

The overall Calgary benchmark price was $572,500 in June, approximately 2% below the previous year. July data indicates that price declines continued to be driven primarily by apartment condominiums, while ground-oriented housing remained comparatively more resilient.

Apartment-style properties remain the clearest area of price weakness. The June apartment benchmark was $299,000, nearly 9% below the previous year. July data indicates that the apartment benchmark moved higher on a monthly basis to approximately $305,900, although it remained well below year-ago levels.

The broader pricing picture remains much more stable for detached and semi-detached homes. In June, the detached benchmark was $750,500, down approximately 1.4% year over year, while semi-detached homes reached $694,600, essentially unchanged from the previous year.

Row housing remained under greater pressure, with the June benchmark at $424,100, down approximately 5.5% year over year.

The important takeaway is that Calgary does not have one uniform pricing story. Detached and semi-detached properties continue to show considerably more stability than apartment and row housing, where elevated supply is giving buyers more choice and greater negotiating leverage.

REGIONAL MARKET OVERVIEW

Airdrie

Airdrie continues to experience softer conditions than Calgary’s ground-oriented market.

In June, Airdrie recorded 538 units of inventory, with months of supply moving above four months. The benchmark price was $516,900, nearly 4% below the previous year.

The July market continues to be characterized by greater buyer choice and competition between resale and new-home construction. For sellers, accurate pricing and strong presentation are increasingly important as buyers have more alternatives.

For buyers, Airdrie continues to offer relative affordability compared with many Calgary communities, but the additional supply means there is less need to rush into a purchase simply because a property has entered the market.

Cochrane

Cochrane continues to demonstrate greater resilience than Airdrie.

June inventory stood at 323 units, with months of supply moving above three months. The benchmark price reached $580,200, less than 2% below the previous year. Year-to-date sales remained slightly above 2025 levels, highlighting the comparatively healthy demand in the community.

Cochrane’s relative strength continues to be supported by more limited inventory growth compared with some surrounding markets. While conditions are more balanced than during the tightest periods of the past several years, buyers are still facing less choice than they would in some of the higher-supply communities.

Okotoks

Okotoks remains one of the tighter surrounding markets.

In June, Okotoks recorded 70 sales and 89 new listings, producing a strong 79% sales-to-new-listings ratio. Inventory remained below longer-term trends, particularly for detached homes. The June benchmark price was $618,600, less than 2% below the previous year.

The July market continues to reflect relatively limited supply compared with Airdrie and Calgary’s higher-density segments. This has helped provide greater price stability despite the broader shift toward balanced conditions.

For buyers, this means that patience can create opportunities, but the strongest properties may still attract attention quickly. For sellers, limited competition can provide support, but pricing remains important as buyers have become more selective.

MARKET TRENDS AND OUTLOOK

The July numbers reinforce a trend that has been developing throughout 2026: Calgary’s housing market is becoming increasingly segmented.

The overall market is no longer operating under the same conditions across every property type.

Detached and semi-detached homes continue to benefit from relatively limited supply and more resilient demand. Row housing is operating in a more balanced environment, while apartment-style properties remain firmly on the buyer-favourable side of the market.

CREB has attributed much of the weakness in higher-density housing to increased supply following several years of strong housing starts. At the same time, slowing migration has reduced some of the demand that previously supported rental and ownership activity in higher-density properties.

This creates a very different environment from the Calgary market of the past few years.

Buyers are no longer necessarily competing against multiple offers simply because a property is reasonably priced. In many segments, they have time to compare properties, review conditions and negotiate.

However, that does not mean every seller is struggling.

Well-priced detached and semi-detached homes in desirable locations can still attract strong interest, particularly where inventory remains limited. The difference is that buyers are becoming more selective, making pricing and presentation increasingly important.

As Calgary moves further into the second half of 2026, the market appears healthier and more balanced than during the extreme supply shortages of recent years. The biggest opportunities for buyers are emerging in segments where inventory has accumulated, while sellers of lower-supply properties continue to benefit from comparatively stronger demand.

STRATEGIC INSIGHTS

For Sellers

Sellers should avoid treating Calgary as one single market.

Detached and semi-detached properties continue to have relatively supportive conditions, particularly in neighbourhoods where inventory remains limited. However, the days of assuming that any reasonably priced property will generate immediate competition are fading.

Accurate pricing is becoming more important.

For row and apartment-style sellers, the challenge is even greater. Buyers have more alternatives, and elevated inventory means properties need to compete on price, condition, location and presentation.

Apartment sellers in particular should be prepared for more negotiation. With elevated supply and benchmark prices well below last year’s levels, buyers have considerably more choice than they did during the previous sellers’ market.

For Buyers

Buyers are benefiting from a much more flexible market.

Higher-density properties offer some of the clearest opportunities for negotiation, particularly where sellers are competing against multiple similar listings. Apartment benchmark prices remain significantly below last year’s levels, while elevated inventory gives purchasers more time to compare properties.

Buyers pursuing detached and semi-detached homes should still be prepared to act when the right property appears. Supply is more limited in these segments, and conditions can vary significantly from one neighbourhood to another.

The biggest advantage for buyers in the current market is choice.

Instead of asking, “How quickly do I need to make an offer?”

Buyers can increasingly ask:

“Is this the right property at the right price?”

That shift represents one of the most important changes in Calgary’s housing market in 2026.

Calgary’s July 2026 market is not a story of a broad-based decline. It is a story of normalization and increasing separation between property types. Detached and semi-detached homes remain comparatively resilient. Row housing is becoming more balanced. Apartment-style properties continue to experience the greatest supply pressure and price adjustments.

For buyers, this means more choice and greater negotiating power in many segments. For sellers, it means that understanding the specific conditions affecting their property type and neighbourhood is more important than relying on citywide statistics alone. As we move through the second half of 2026, the Calgary market is becoming less about whether it is a buyer’s or seller’s market and more about which market you are actually in.