Calgary February 2026 Housing Market Report: Detached Homes Tighten While Apartments Remain Oversupplied

Calgary’s housing market continued to show clear divergence by property type in February 2026, according to the latest data from the Calgary Real Estate Board (CREB®). While detached and semi-detached segments tightened, apartment-style condominiums remained firmly in buyer territory.

CREB® Chief Economist Ann-Marie Lurie noted: “Slowing migration levels are coming at a time when supply for apartment-style homes is rising. Calgary reported record high starts last year, mostly due to gains in apartment starts where there are nearly 18,000 units currently under construction. While a large share of the units is targeted for rental, this also impacts condo ownership markets. Meanwhile, on the opposite end of the spectrum, the detached market remains relatively balanced in the higher price ranges and continues to struggle with limited supply for homes priced below $700,000.”

City-wide, conditions stayed relatively balanced at three months of supply and a 55% sales-to-new-listings ratio. Total inventory reached 4,822 units, with condominiums and row homes accounting for more than half. February sales totalled 1,526 – an 11% decline from last year – driven mainly by weaker row and apartment activity.

The total residential benchmark price rose 1% month-over-month to $560,500, though it remains 4% below February 2025 levels. Typical seasonal gains in lower-density homes offset continued softness in the apartment sector.

Detached Homes Sales (736) and new listings (1,269) mirrored last year’s levels, producing a 58% sales-to-new-listings ratio. Months of supply stayed under three – the tightest conditions in the city. The unadjusted benchmark price reached $734,300 (+1.2% MoM, -3% YoY). Strongest performance came in the West and City Centre districts.

Semi-Detached Homes Sales rose to 175 units while new listings hit 253, pushing the sales-to-new-listings ratio to 69% and months of supply down to just 2.4 months. Benchmark price: $682,200 (+2.1% MoM, flat YoY).

Row Homes Sales increased to 270 units and new listings eased to 491, improving the ratio to 55%. Months of supply dropped from over four to just over three. Benchmark price: $423,600 (seasonal gain, still -5% YoY).

Apartment Condominiums Despite fewer new listings, the segment posted only 46% sales-to-new-listings and over four months of supply (1,580 units in inventory). Benchmark price fell to $298,600 (-0.9% MoM, -9.2% YoY). The North East district remains the most oversupplied.

Regional Highlights

• Airdrie: Balanced at just over three months supply; benchmark $512,200 (-5% YoY).
• Cochrane: Shifted to balanced (three months supply); benchmark $553,500 (-3% YoY).
• Okotoks: Still tight (under three months supply); benchmark $612,300 (+2% MoM, flat YoY).

What This Means for Calgary Buyers & Sellers The data confirms what many active clients are experiencing: limited choice and steady price support in the detached market, especially below $700,000, while condo buyers enjoy more negotiating power and downward price pressure.

Whether you’re planning to buy your first home, upgrade to a detached property, or invest in the multi-family sector, understanding these shifting conditions is critical. 

Ready to navigate Calgary’s evolving market with confidence? Contact Adam Vetter today for a personalized market update tailored to your goals. Whether you’re buying, selling, or investing, I’m here to deliver results in any market condition.