Calgary Housing Market Report
- The housing inventory of 4,872 was 16% higher than last February.
- At 1,526, Calgary's monthly home sales saw an 11.3% year-over-year decline.
- The benchmark home price of $560,500 is down 4.4% year over year.
- The market continues to show balanced conditions with months of supply at 3.2 months.
- Detached home average price increased by 0.3% year-over-year to $807k.
- Semi-detached home average price decreased by 6.6% year-over-year to $672k.
- Townhouse average price decreased by 5.2% year-over-year to $457k.
- Condo apartment average price increased by 0.7% year-over-year to $356k.
Calgary Housing Market Overview
Calgary Housing Market: Price Movements for February 2026
Benchmark Home Price | $560,500 | +1.1% 1-Month Change | -4.4% 1-Year Change |
Average Home Price | $627,776 | +1.5% 1-Month Change | +2.4% 1-Year Change |
Median Home Price | $565,000 | +1.6% 1-Month Change | -0.3% 1-Year Change |
Note: The MLS HPI benchmark price represents the value of a ‘typical’ home in the area.
Executive Summary
In February 2026, the Calgary housing market maintained balanced conditions. The market experienced an 11.3% year-over-year decline in sales, with 1,526 homes changing hands. Inventory rose 16% from the previous year to 4,872 units. The overall benchmark home price for Calgary was $560,500, representing a 4.4% year-over-year decrease but recovering 1.1% from January. The average home price of $627,776 increased 2.4% compared to last February and rose 1.5% from January. The median price of $565,000 was essentially flat year-over-year (down 0.3%) and rose 1.6% from January. The sales-to-new-listings ratio was 55%—up from 44% in January but below last February's 61%—and the months of supply stood at 3.2 months, confirming continued balanced market conditions.
Average Prices
Calgary's average home price in February 2026 was $627,776, showing a 2.4% increase compared to last February and a 1.5% increase from January. By Property Type:
By Property Type:
- Detached homes: $807,186, up 0.3% year-over-year and up 3.4% from January.
- Semi-detached homes: $672,176, down 6.6% annually and up 1.1% monthly.
- Townhouses: $457,292, down 5.2% year-over-year and up 5.1% from January.
- Apartments: $355,934, up 0.7% compared to last February and up 7.2% from January.
Average home prices do not show the true extent of price changes because of the substitution effect. When changes in home prices or mortgage rates reduce consumers' buying power, they shift their purchases to more affordable options and conversely, when such changes increase their buying power. As a result, especially over the medium and long term, the average price can underrepresent house price inflation or deflation. Moreover, luxury homes have a disproportionate impact on average prices, and fluctuations in the number of luxury home sales lead to corresponding fluctuations in average prices. There has been a continued change in the property types that Calgary buyers purchase. Over the past years, the composition of home sales in the Calgary real estate market shifted toward condos while shifting away from detached houses. Although this trend has partially reversed since March 2024, when the share of detached sales reached its lowest value and the share of apartment homes reached its peak.
Sales Numbers and Benchmark Prices
The benchmark home price in Calgary declined 4.4% year over year and rose 1.1% monthly to $560,500. In February 2026, 1,526 homes changed hands, representing an 11.3% decrease compared to the same month last year. 2,767 new listings in Calgary decreased by 2.3% year over year. The sales-to-new listings ratio is 55%, up from 44% in January 2026 and below last February's 61%. Inventory increased 16% year over year to 4,872 units, and rose 11% from January. Inventory stands at 3.2 months of supply compared with 3.6 months in January and 2.4 months in February 2025. Months of supply show that the Calgary market is maintaining its balanced market condition.
In February 2026,
- Detached homes: The benchmark price decreased 3.2% year over year to $734,300, up 1.4% month over month. The sale of 736 detached homes shows a 3.8% year-over-year decrease. Currently, inventory stands at 2.7 months of detached home sales, indicating seller's market conditions persist in this segment.
- Semi-detached homes: Benchmark home prices decreased 0.4% year-over-year to $682,200, up 2.3% month-over-month. Sales of semi-detached homes increased by 6.1% YoY to 175 units. Currently, inventory stands at 2.4 months of semi-detached home sales, indicating seller's market conditions.
- Townhouses: Benchmark townhouse prices declined 5.0% YoY and increased 0.7% MoM to $423,600 for February 2026. The number of row houses sold decreased 15.1% YoY to 270 units. Currently, inventory stands at 3.3 months of row home sales, reflecting balanced market conditions.
- Apartments: Benchmark apartment prices are down 9.3% year-over-year to $298,600, a decline of 0.9% from last month. The number of apartments sold decreased by 27% YoY to 345 units. Currently, inventory stands at 4.6 months of apartment home sales, indicating balanced market conditions.
Calgary Home Prices (Benchmark)
Calgary home prices have fluctuated over the past twenty years, yet they have shown healthy appreciation, with a Cumulative Annual Growth Rate (CAGR) of 4.8% from January 2005.
Median Prices
As another price indicator, median prices for Calgary houses decreased by 0.3% year-over-year to $565,000, 1.6% higher than in January 2026. Median prices by property type were:
Median prices by property type:
- Detached homes: $687,750, 4.5% lower compared to last February and up 1.9% monthly.
- Semi-detached homes: $585,000, down 8.6% annually and up 0.3% month over month.
- Townhouses: $444,250, down 4.5% from last year and up 7.8% from the previous month.
- Apartments: $303,500, down 8.0% annually and up 2.2% monthly.
Affordability Context
Homes in Calgary are much more affordable than homes in Toronto and homes in Vancouver, while Calgary's affordability is on par with Montreal's larger housing market. Over the past six years, benchmark home prices have risen 37%, reducing affordability from peak levels, making life more difficult for renters and future homeowners and weighing on economic dynamism and productivity growth in Canada's largest population center in the Prairies. The recent shift toward more balanced conditions, driven by increased supply in both resale and rental markets along with slower population growth, continues to ease affordability pressures.
Market Conditions by Type
The February 2026 market exhibited continued balanced conditions, with 2,767 new listings entering the market and 1,526 sales. Inventory reached 4,872 units—16% higher than last year. The impact varies by property type. Detached and semi-detached homes remain in seller's market territory at 2.7 and 2.4 months of supply, respectively. Apartment condominiums have eased from buyer's market conditions in January (5.3 months) to a balanced 4.6 months, while row homes are at 3.3 months, also reflecting balanced conditions.
Population and Housing Needs
As of the last estimate, Calgary's population is 1,779,000, growing at 5-year and 10-year annualized rates of 3.4% and 2.5%, respectively. In 2021, Calgary had about 595,000 homes, and almost all of them (95%) were lived in by people who considered them their main residence. This suggests an average of 2.7 people per dwelling. At the 10-year annualized growth rate, the population is expected to increase by around 44,500 people per year, implying a requirement for roughly 16,500 new dwellings annually. However, given that population growth has stalled at the national level, where data is available with much higher frequency, Calgary's population might actually be growing at a much slower rate.
Calgary Population Chart
As of the last estimate, Calgary's population is 1,779,000, growing at 5-year and 10-year annualized rates of 3.4% and 2.5%, respectively.
For a longer-term horizon, it is instructive to consider changes in Calgary's population alongside housing starts to gauge whether construction is keeping pace with demographic pressures.
Supply and Demand Dynamics
The home price in the Calgary region is 32% higher than it was ten years ago, compared with a 30% rise in the consumer price index over the same period, implying a cumulative annual growth rate of 2.9% for Calgary home prices. Over that decade, home prices in Greater Toronto rose by 58% and in Montreal by 106%.
Alberta, and Calgary in particular, enjoy more economic freedom and arguably more natural resources than many other parts of Canada. As a result, Alberta offers some of the highest incomes and wages among Canadian provinces, and Calgary offers some of the highest incomes and wages among Canadian cities.
The market continues to reflect broader Canadian housing trends, including slower population growth, persistent uncertainty about economic conditions, and increased competition from both new home construction and the rental market. In February 2026, market activity picked up from January's seasonal low, with sales rising to 1,526 and the sales-to-new-listings ratio climbing to 55%. Despite the monthly improvement, year-over-year sales remain down 11.3%, reflecting the broader moderation trend that has characterized Calgary's market since mid-2025. Benchmark prices recovered 1.1% from January, suggesting that the price correction in some segments may be stabilizing. Apartment and townhouse segments continue to face more supply pressure, while detached and semi-detached homes remain in seller's market territory with under 2.7 months of supply.
Calgary Housing Starts Chart
Over the past five years, Calgary builders have started an average of 15,900 units yearly. Looking at more recent data, they have started an average of 20,400 units per year over the past three years.
Home Prices in Calgary
Calgary Housing Market Statistics for All Property Types in February 2026
Average Sold Price and Benchmark Price
Total Transactions and New Listings
Property Type Distribution
Market Overview for Detached Homes in February 2026
Average Sold Price
Transactions
Market Overview for Semi-Detached Homes in February 2026
Average Sold Price
Transactions
Market Overview for Townhouses in February 2026
Average Sold Price
Transactions
Market Overview for Condo Apartments in February 2026
Unlike other major metro areas in Canada, such as Toronto real estate or Vancouver real estate, as recently as two years ago condo apartments were a relatively small part of Calgary's real estate market. Two years ago, they made up close to one-seventh of total home sales and a much smaller proportion of sales volume in dollars due to their lower prices. Currently, they constitute close to one-third of homes sold in the Calgary real estate market.
Average Sold Price
Transactions
Calgary Region Breakdown by Region for February 2026
Glossary and Definitions
MLS® Home Price Index (HPI): Developed by the Canadian Real Estate Association (CREA), the MLS® HPI is the most advanced tool for tracking price trends in the Canadian housing market. Rather than using simple average prices, which can be skewed by the mix of homes sold in a given month, the HPI tracks the value of a "Benchmark Home"—a property with typical attributes for its specific neighborhood. This allows for an accurate "apples-to-apples" comparison of home values across different regions and time periods, independent of a property's specific features or seasonal volatility. To ensure the index remains relevant, CREA performs an annual review every May to account for evolving market dynamics.
MLS® HPI Benchmark Price: This is the dollar value assigned to a "typical" home in a specific neighborhood. While the HPI itself is an index number used to track trends, the Benchmark Price translates that data into a real-world dollar figure, representing what a standard home with average features (like square footage, rooms, and lot size) would likely sell for in today's market.
Strata Insurance: Strata insurance is insurance used by a strata like a condominium to cover damages to common areas and assets and liability to the strata. It can also include fixtures built or installed as part of the original construction of each unit, even though these may not be common structures. The insurance can cover:
- Buildings and structures associated with the strata including common areas such as the roof, parking garages, driveways, gyms, pools, etc.
- Liability for any property damage or bodily injury suffered on strata property
- Any fixtures that are part of the "standard unit" or original construction of each unit
Strata insurance does not usually include personal items and appliances that are part of a condo unit. It also does not cover the damages made by individual unit owners, such as in the case of water damage caused by a unit owner. These are usually covered by personal condo insurance.
Property types
Detached home: A detached home is your standard single-family home. It is a residential building that stands alone and is separately titled or legally a single unit.
Semi-detached home: A semi-detached home is similar to a detached home, except it shares a wall with another home. This pair of homes must make up an independent building and each should be separately titled or legally two separate units. There can only be two homes in a semi-detached building.
Townhouses: A townhouse is the middle between a detached/semi-detached home and a condo apartment. Like detached and semi-detached homes, they are often single-family units that have their own land and may be attached to other units. However, like condo apartments, they typically have to pay co-ownership fees for maintenance and may share some common features with their neighbors.
Condo apartment: This category includes all apartments and condominiums. These are complexes of residential units with common areas such as hallways, parking lots, stairwells, etc. They can be low-rise, mid-rise, or high-rise buildings. Unlike townhouses, there are no parts of the lot (the land of the building) where access is reserved for only one owner or occupant. There can be privately owned units and spaces inside the building.
Plexes are multi-story buildings with two to four individual units, usually one on each floor. They are a mainstay in Montreal and other cities in Quebec. Each unit is usually individually accessible via an external entrance with higher floors connected by staircases.
Property Classes
Freeholds: A freehold is any property where the owner owns both the house and the land it is built on. Common freehold property types include: detached, semi-detached, some townhouses, and farmland.
Condominiums: A condominium or condo is any property where the owner owns the home (or unit) but shares ownership of the land and other improvements with a condominium corporation. Common condominium property types include condo apartments and some townhouses.
Leasehold: Leasehold describes the situation where different entities own the land and the structure built on the land. Owners of the buildings have leased the land and pay rent to their landlord while owning the building on the land.
Housing Markets Across Canada
Data sourced from the Calgary Real Estate Board (CREB) and the Canadian Real Estate Association (CREA). Any analysis or commentary is the opinion of the analysts at WOWA.ca and should not be construed as investment advice. Please consult a licensed real estate professional before making a real estate investment decision. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
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