Calgary Real Estate Market Update: Insights from CREB's Chief Economist on January 2026 Trends
As we step into 2026, the Calgary real estate market is showing signs of a measured start, influenced by seasonal patterns and evolving supply dynamics. The Calgary Real Estate Board (CREB) released its latest monthly statistics on February 2, 2026, providing a clear picture of January's activity. Chief Economist Ann-Marie Lurie offers valuable commentary on the trends, emphasizing shifts in buyer behavior and inventory levels. This summary highlights the key stats and implications for buyers, sellers, and investors in the Calgary market.
Key Statistics from January 2026
- Home Sales: Calgary recorded 1,234 sales in January, representing a 15% decline compared to the same month in 2025. While this figure is lower year-over-year, it aligns closely with long-term seasonal averages for the month, indicating a typical post-holiday slowdown rather than a fundamental weakness.
- Inventory Levels: Inventory rose significantly to 3,245 units, a 35% increase from January 2025. This growth provides more options for buyers but remains below historical long-term averages, suggesting the market is moving toward balance without tipping into oversupply across all segments.
- Sales-to-New-Listings Ratio: The ratio fell to 44%, driven primarily by changes in apartment-style and row homes. This shift reflects quicker seller listings and more cautious buyer engagement.
- Benchmark Prices: The total residential benchmark price declined by nearly 5% year-over-year, largely due to steeper drops in oversupplied row and apartment segments. However, seasonally adjusted prices remained stable from the end of 2025, offering some reassurance amid the fluctuations.
| Category | January 2026 | Year-Over-Year Change | Notes |
|---|---|---|---|
| Total Sales | 1,234 | -15% | In line with seasonal norms |
| Inventory | 3,245 | +35% | Below long-term averages |
| Sales-to-New-Listings Ratio | 44% | Decline | Impacted by high-density homes |
| Residential Benchmark Price | N/A | -5% | Weighted by row and apartment declines |
Insights from CREB Chief Economist Ann-Marie Lurie
Ann-Marie Lurie, CREB's Chief Economist, attributes the slower pace to reduced urgency among buyers, particularly in high-density properties. She notes, “Following the typical December slowdown, potential buyers for high-density homes were more hesitant to return to the market in January, as increased supply choice across all aspects of the market has reduced the sense of urgency.” Sellers, on the other hand, were proactive in listing properties, contributing to the inventory buildup.
Lurie also highlights broader trends from CREB's 2026 Forecast, released on January 20, 2026. With lower migration levels, stable employment, and steady interest rates expected, demand is unlikely to see significant changes this year. Detached home sales are projected to remain consistent, while prices in apartments and row homes may soften further—forecasted drops of 3.5% and 1.9%, respectively. This points to a market favoring buyers with more negotiating power, especially in condos and townhomes.
Market Trends and Implications
The data signals a transition to more balanced conditions after the shifts seen in late 2025. High-density segments like apartments and rows are experiencing the most pressure from inventory growth, leading to softer prices and longer market times. Detached homes, however, show resilience, with only one Calgary area reporting prices below $600,000.
For buyers: Increased choices and stable prices create opportunities, particularly in entry-level and mid-range properties. Sellers should price competitively and prepare for potentially longer listing periods in oversupplied categories. Investors may find value in monitoring high-density trends for future stabilization.
Overall, Calgary's market remains grounded in solid fundamentals, with economic factors like job stability supporting long-term growth.
Conclusion
The January 2026 stats from CREB underscore a cautious yet stable start to the year for Calgary real estate. As Chief Economist Ann-Marie Lurie emphasizes, the reduced sense of urgency is reshaping buyer-seller dynamics, paving the way for a more balanced 2026. Stay informed by visiting adamvetter.com for ongoing market updates and personalized advice.
Adam Vetter is a licensed real estate professional serving the Calgary area. Contact him for expert guidance on your next move.
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