Calgary Housing Market Report
- The housing inventory of 5,395 was 4.7% higher than last March.
- At 1,881, Calgary's monthly home sales saw a 12.9% year-over-year decline.
- The benchmark home price of $565,600 is down 4.2% year over year.
- The market is in seller's market territory with months of supply at 2.9 months.
- Detached home average price decreased by 3.6% year-over-year to $809k.
- Semi-detached home average price decreased by 1.3% year-over-year to $705k.
- Townhouse average price decreased by 4.8% year-over-year to $449k.
- Condo apartment average price decreased by 3.1% year-over-year to $344k.
Calgary Housing Market Overview
Calgary Housing Market: Price Movements for March 2026
Benchmark Home Price | $565,600 | 0.9% 1-Month Change | -4.2% 1-Year Change |
Average Home Price | $641,844 | 2.2% 1-Month Change | +0.4% 1-Year Change |
Median Home Price | $577,000 | 2.1% 1-Month Change | -1.3% 1-Year Change |
Note: The MLS HPI benchmark price represents the value of a ‘typical’ home in the area.
Executive Summary
In March 2026, the Calgary housing market tightened into seller's market territory for the first time since early 2025. The market experienced a 12.9% year-over-year decline in sales, with 1,881 homes changing hands. Inventory rose 4.7% from the previous year to 5,395 units. The overall benchmark home price for Calgary was $565,600, representing a 4.2% year-over-year decrease but recovering 0.9% from February. The average home price of $641,844 was essentially flat year-over-year (up 0.4%) and rose 2.2% from February. The median price of $577,000 declined 1.3% year-over-year and rose 2.1% from February. The sales-to-new-listings ratio was 55%—similar to February's 55%—and months of supply stood at 2.9 months, placing the overall market in seller's market territory.
Average Prices
Calgary's average home price in March 2026 was $641,844, showing a 0.4% increase compared to last March and a 2.2% increase from February. By Property Type:
- Detached homes $808,924, down 3.6% year-over-year and essentially flat from February (up 0.2%).
- Semi-detached homes $705,202, down 1.3% year-over-year and up 4.9% from February.
- Townhouses $449,446, down 4.8% year-over-year and down 1.7% from February.
- Apartments $344,063, down 3.1% year-over-year and down 3.3% from February.
Average home prices do not show the true extent of price changes because of the substitution effect. When home prices or mortgage rates reduce buyers' purchasing power, they tend to shift toward more affordable property types. Conversely, when purchasing power increases, buyers may shift toward more expensive homes. 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. This trend partially reversed after March 2024, when the share of detached home sales reached its lowest point, and apartment sales reached their peak.
Sales Numbers and Benchmark Prices
The benchmark home price in Calgary declined 4.2% year over year and rose 0.9% monthly to $565,600. In March 2026, 1,881 homes changed hands, representing a 12.9% decrease compared to the same month last year. 3,409 new listings in Calgary decreased by 15% year over year. The sales-to-new-listings ratio is 55%, in line with February 2026's 55% and above last March's 54%. Inventory increased 4.7% year over year to 5,395 units, and rose 12% from February. Months of supply stand at 2.9, placing the overall Calgary market in seller's market territory, though supply varies significantly by property type.
- Detached homes: The benchmark price decreased 3.3% year over year to $741,300, up 1.0% month over month. The sale of 982 detached homes shows a 5.1% year-over-year decrease. Currently, inventory stands at 2.2 months of detached home sales, indicating seller's market conditions persist in this segment.
- Semi-detached homes: Benchmark home prices decreased 0.9% year-over-year to $686,100, up 0.6% month-over-month. Sales of semi-detached homes increased by 4.9% YoY to 193 units. Currently, inventory stands at 2.5 months of semi-detached home sales, indicating seller's market conditions.
- Townhouses: Benchmark townhouse prices declined 6.2% YoY and increased 0.1% MoM to $423,900 for March 2026. The number of row houses sold decreased 20% YoY to 322 units. Currently, inventory stands at 3.0 months of row home sales, reflecting balanced market conditions.
- Apartments: Benchmark apartment prices are down 9.3% year-over-year to $300,300, up 0.6% from last month. The number of apartments sold decreased by 29% YoY to 384 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 1.3% year-over-year to $577,000, 2.1% higher than in February 2026. Median prices by property type were:
- Detached houses: $703,250, 4.0% lower compared to last March and up 2.3% monthly.
- Semi-detached houses: $585,000, down 5.5% annually and essentially flat month over month.
- Townhouses: $435,000, down 4.4% from last year and down 2.1% from the previous month.
- Apartments: $305,000, down 7.0% annually and up 0.5% 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 significantly (38%), reducing affordability and making life more difficult for renters and future homeowners. The past year's 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 March 2026 market tightened overall into seller's market territory, with 3,409 new listings entering the market and 1,881 sales. Inventory reached 5,395 units—4.7% higher than last year. The impact varies significantly by property type. Detached and semi-detached homes remain firmly in seller's market territory at 2.2 and 2.5 months of supply, respectively. Row homes are balanced at 3.0 months. Apartment condominiums remain balanced at 4.6 months, though supply is well above long-term trends.
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 36% 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 3.1% for Calgary home prices. Over that decade, home prices in Greater Toronto rose by 50% and in Montreal by 108%.
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 March 2026, market activity picked up further as the spring market got underway, with sales rising to 1,881 and the sales-to-new-listings ratio holding at 55%. Despite the monthly improvement, year-over-year sales remain down 12.9%, reflecting the broader moderation trend that has characterized Calgary's market since mid-2025. Benchmark prices recovered 0.9% from February, suggesting that the price correction may be stabilizing in lower-density segments. Apartment and row home segments continue to face more supply pressure, while detached and semi-detached homes remain firmly in seller's market territory with under 2.5 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 March 2026
Average Sold Price and Benchmark Price
Total Transactions and New Listings
Property Type Distribution
Market Overview for Detached Homes in March 2026
Average Sold Price
Transactions
Market Overview for Semi-Detached Homes in March 2026
Average Sold Price
Transactions
Market Overview for Townhouses in March 2026
Average Sold Price
Transactions
Market Overview for Condo Apartments in March 2026
Unlike other major metro areas in Canada, such as Toronto real estate or Vancouver real estate, condo apartments have historically been a relatively small part of Calgary's real estate market. In recent years, their share surged, reaching close to one-third of total home sales at their peak in 2024, driven by affordability pressures and strong investor demand. Since then, the condo segment has pulled back amid rising supply and softer demand, and currently accounts for about one-fifth of homes sold in the Calgary real estate market.
Average Sold Price
Transactions
Calgary Region Breakdown by Region for March 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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