Calgary House Prices | What the Market Is Doing Right Now

Dean Martin

Real Broker Calgary  |  35 Years of Calgary Real Estate Experience

Calgary house prices ticked up again in May 2026, with the total residential benchmark landing at $570,500. That's the third straight monthly gain, and the year-over-year decline narrowed slightly to three per cent. But the headline number is hiding a market that's pulling apart at the seams. Sales dropped 15.5 per cent year-over-year — the sharpest pullback we've seen this year — and apartment condo inventory just jumped in a single month. Meanwhile, the detached market in two districts hasn't blinked.

Here's what the May 2026 CREB stats package shows, plus what I'm seeing on the ground after 35 years of selling Calgary real estate.

Calgary Housing Market — June 1, 2026 Snapshot

CREB released the May numbers on June 1, 2026. Here are the headline figures straight from the stats package:

The sales-to-new-listings ratio fell to 51 per cent — down from the mid-50s we'd been seeing through the spring. That drop, combined with sales pulling back faster than new listings, is what's pushing months of supply higher. But just like April, the city-wide average hides a market split right down the middle: 2.45 months of supply for detached homes versus 5.14 months for apartment condos.

Calgary House Prices by Property Type — June 1, 2026

Here's how each property type benchmarked in May, from the CREB stats package:

Notice the direction of travel compared to April: detached and row both saw their year-over-year declines ease slightly. Apartment condos went the other way — the decline deepened, and months of supply jumped from 4.44 to 5.14 in a single month. That's not a small move.

Detached Homes: Still Strong in West and South, Quieter Almost Everywhere Else

The detached market benchmarks at $747,800 citywide, down 2.4 per cent from last May — a slightly smaller decline than April reported. Days on market improved to 28, two days faster than the previous month.

Here's my honest read on what's happening with buyers right now: it's still strong in West and South Calgary, but noticeably quieter everywhere else. That's not me reading tea leaves — the district numbers back it up exactly.

• West Calgary — 1.77 months of supply, detached benchmark $1,005,200, essentially flat year-over-year at just -0.2%. Still the tightest market in the city.
• South Calgary — 1.85 months of supply, detached benchmark $721,600. Still firmly in seller's market territory.
• Northwest Calgary — 2.01 months of supply, detached benchmark $799,000. This one's worth watching: it slipped just above the two-month seller's market threshold this month, after sitting at 1.54 months back in April. Still tight, but easing.

South East, City Centre, and North are all sitting between 2 and 3 months of supply — balanced territory, neither side has the clear advantage. Families looking in West Calgary or South Calgary are still facing real competition. Northwest Calgary has a bit more breathing room than it did a month ago.

Here's the misread I'm seeing most often right now: buyers are waiting for a price drop in detached homes that isn't coming. The overall market narrative is "balanced" and "cooling," and people hear that and assume detached prices are about to fall further. They're not — not in West, not in South, and Northwest is still tighter than most of the city even after easing. The supply just isn't there. If you're waiting on a discount in a good detached neighbourhood, you may be waiting through a market that's already turned the corner.

Semi-Detached: Holding Close to Last Year's Levels

Semi-detached benchmarks at $691,100, down just one per cent year-over-year — still one of the steadiest segments in the city. Months of supply sits at 2.73, comfortably in balanced territory. This segment continues to be the quiet, dependable middle ground between detached and everything else.

For families stretching from a condo budget but not quite reaching detached prices, semi-detached remains the spot where Calgary still offers real value compared to what families are leaving behind in Ontario or BC.

Apartment Condos: The Gap Is Widening, Not Closing

The apartment condo benchmark is $300,400, down 9.1 per cent year-over-year — a steeper decline than April's 8.9 per cent. But the number that actually matters this month is months of supply: it jumped from 4.44 in April to 5.14 in May. Inventory climbed to 2,070 units while sales fell to 403 — down nearly 30 per cent from last May.

My honest read: there's still opportunity here for the right long-term buyer, but the gap between this segment and everything else is widening, not closing. This isn't a market correcting itself quickly. Record apartment supply continues hitting the resale market at the same time new listings and rentals are competing for the same buyers. CREB's own chief economist called it out directly this month — conditions here are favouring the buyer, full stop.

If you're a buyer with a five-plus year horizon and you're not chasing short-term appreciation, this segment still makes sense. If you're hoping to flip or need to sell within a year or two, May's numbers are a caution flag, not a green light. Sellers in this category need to price to the market that exists today, not the one from eighteen months ago. Take a look at what's currently available across Calgary if apartment condos are part of your search.

Calgary House Prices by District — June 1, 2026

Here's the total residential benchmark for the six districts I work in, as of May 2026:

West remains the most resilient district in the city — essentially flat year-over-year while every other district is still showing declines. For a deeper look at what makes each district different at the community level, my Calgary neighbourhood guide covers all six zones. Looking outside Calgary itself? My Calgary surrounding communities market update covers Cochrane, Okotoks, Airdrie, and Chestermere — between the two posts, you have a complete picture of the Calgary and area market.

What This Means if You're Buying in Calgary This Summer

If you're set on a detached home in West or South Calgary, treat this market the same way you would have in April — the slowdown everyone's talking about hasn't reached those two districts in any meaningful way. Get pre-approved before you start touring. Good homes there are still moving fast, and the average days-on-market figure for the whole city (34 days) is being dragged up significantly by the apartment segment sitting at 46 days.

If you're looking at apartment condos, May's data gives you real leverage. With 5.14 months of supply, sellers know the math. A fair offer with solid terms and a reasonable timeline has real negotiating power right now — just go in with a long-term mindset, not a flip strategy.

For families relocating from Ontario or BC, my Calgary vs Toronto comparison and cost of living breakdown are worth reading before you commit to a neighbourhood.

What This Means if You're Selling in Calgary This Summer

Selling detached in West or South? You're still in a strong position — price it accurately and you should see solid activity. Sellers in Northwest should pay closer attention than they did a month ago; that market has eased slightly and pricing needs to reflect current conditions, not April's tighter numbers.

Selling an apartment condo? May's numbers are a clear signal to get realistic now rather than chase the market down over the summer. With sales down nearly 30 per cent year-over-year and inventory climbing, the units that move are the ones priced at or below comparable recent sales, presented well, with no deferred maintenance issues for buyers to find.

Want a straight answer on what your home is worth in today's market? Get your free Calgary home evaluation here.

Frequently Asked Questions About Calgary House Prices

What is the benchmark price for a home in Calgary in June 2026?

The total residential benchmark price in Calgary as of May 2026 is $570,500, according to CREB's monthly stats package released June 1, 2026. That's up slightly from April and represents the third straight monthly gain, though still down three per cent year-over-year. Detached homes benchmark at $747,800, semi-detached at $691,100, row/townhouses at $422,300, and apartment condos at $300,400.

Is Calgary a buyer's or seller's market right now?

It depends heavily on property type and district. West and South Calgary remain in seller's market territory for detached homes, each under two months of supply. The apartment condo market is clearly favouring buyers, with months of supply jumping to 5.14 in May — up from 4.44 the month before. The overall market sits at 3.12 months of supply, edging toward balanced-to-buyer conditions city-wide.

Why did Calgary home sales drop so much in May 2026?

Calgary sales fell 15.5 per cent year-over-year in May 2026, a sharper decline than earlier in the year. CREB's chief economist attributed this to increased supply choice in the new-home and rental markets creating more competition for buyers, along with rising cost-of-living concerns and slower migration into the city weighing on demand.

Is now a good time to buy an apartment condo in Calgary?

For buyers with a long-term horizon, yes — conditions favour buyers with real negotiating room. Apartment condo months of supply reached 5.14 in May 2026, with prices down 9.1 per cent year-over-year. However, the segment is not improving quickly, so this is better suited to buyers planning to hold for several years rather than those seeking short-term appreciation.

Which Calgary district has the most stable home prices in 2026?

West Calgary continues to show the smallest year-over-year price decline of any district at just 0.5 per cent as of May 2026, with detached home prices in the district essentially unchanged from last year. South Calgary is the second most stable major district. Both remain in seller's market territory with under two months of supply for detached homes.

Ready to Find Your Calgary and area Neighbourhood?

I've been helping families find a home they love in Calgary and surrounding towns for 35 years. I grew up here, raised five kids here, and I've got eight grandkids now who love Calgary life. I know which communities hold value, which ones are softening, and which ones fit which families — and I'll give you a straight answer, not a sales pitch.

If you're thinking about buying, selling, or just figuring out what your home is worth in this market, let's talk.

Book a free 30-minute call with Dean and let's figure out your next move.