What’s happening in the Calgary real estate market in May 2026?
Calgary’s housing market in May 2026 is running an even sharper split than last month. Detached homes remain the tightest segment at 2.45 months of supply and a benchmark price of $747,800. Apartment condos have moved firmly into buyer’s territory — 5.14 months of supply and a benchmark of $300,400, down 9 per cent year over year. City-wide, 2,162 homes sold, the total residential benchmark sits at $570,500, and overall months of supply landed at 3.12 — balanced territory on paper, but that average is doing a lot of heavy lifting.
By Steve Kabachia | June 3, 2026
If you’ve been watching Calgary’s real estate market this spring, you’ve probably noticed something: the headline numbers don’t quite match what you’re experiencing on the ground. For some buyers and sellers, conditions feel tight. For others, it feels like the pressure has completely lifted. Both of those impressions are correct — depending on which part of the market you’re in.
May’s data from CREB® makes that clearer than ever.
The Detached Market: Still the Tightest Segment in the City
If you own a detached home in Calgary, the city-wide numbers aren’t your numbers.
1,192 detached homes sold in May — down 6 per cent from last year, but context matters here. The detached market is absorbing slower sales without accumulating supply. Inventory landed at 2,916 units — actually down 3 per cent from last May and still running below long-term historical norms for the city. With just 2.45 months of supply, the segment remains in balanced-to-seller territory.
In practical terms, that means detached homes are still selling at 98.9 per cent of list price. Days on market held flat at 28 days — the same as May 2025. Buyers in this segment don’t have the leverage they might expect from reading the overall market headlines.
The benchmark price for detached homes came in at $747,800 — down 2.4 per cent year over year, but up from April. The district-level variation is significant and worth knowing. The West side leads at $1,005,200 (down less than 1 per cent y/y), followed by City Centre at $985,500. On the other end, the North East is sitting at $563,900, down nearly 7 per cent from last year. The South came in at $721,600. These aren’t cosmetic differences — they reflect meaningfully different supply and demand conditions within the same city.
Pricing strategy for a detached home needs to start with your district, your price range, and your specific product — not the Calgary average. I’ve seen sellers leave money on the table by anchoring to the wrong benchmark, and buyers overpay by ignoring the softness in a specific pocket.
The Apartment Condo Market: Buyer’s Window Is Open
The apartment condo story has been building for several months, and May confirmed the trend is holding.
403 condo units sold in May — down 30 per cent from May 2025. That’s not a minor dip. Inventory held at 2,070 units, and months of supply climbed to 5.14 — the highest of any segment by a meaningful margin. The benchmark price dropped to $300,400, down 9 per cent year over year. Days on market reached 46. The sale-to-list ratio fell to 96.8 per cent.
The underlying cause isn’t mysterious. More supply choice in the new-build and rental markets is creating real competition for resale condos. Buyers who might have snapped up a resale unit a year ago are comparing it against new product and rental options — and in some cases, choosing differently.
For buyers: this is the most negotiating room the condo market has offered in several years. There’s inventory to browse, less urgency, and sellers who are genuinely motivated to move product. The City Centre benchmark sits at $306,000, down 9.5 per cent y/y. North East condos are at $260,000, down 13 per cent. Even the stronger districts — West at $328,400, South East at $319,100 — are off 7–9 per cent from last year.
For condo sellers: pricing correctly from the start isn’t optional right now. Overpriced units are sitting longer, accumulating market time, and attracting lower offers as a result. Every week it sits costs you more in the eventual negotiation than a sharper initial price would have.
Row Homes and Semi-Detached: The Overlooked Middle
The row and semi-detached segments continue to hold a middle position — softening, but nowhere near the pressure visible in condos.
Row homes saw 350 sales in May, with a benchmark price of $422,300 — down 6 per cent year over year. Months of supply came in at 3.35. There’s buyer leverage here, but it’s measured. Sellers who price to the current market, not the 2024 market, are still moving product.
Semi-detached had 217 sales and a benchmark of $691,100, down less than 1 per cent year over year. With 2.73 months of supply and a sale-to-list ratio of 98.3 per cent, this segment is holding up reasonably well. The City Centre semi-detached benchmark hit $955,000; the West is at $844,100. These are still markets where well-presented homes command strong attention.
The Bigger Picture: A Balanced Market With Real Nuance
Pull back to the city-wide view and Calgary sits at 3.12 months of supply — textbook balanced territory. But that number papers over conditions that vary from genuinely tight to clearly favouring buyers, depending on what and where you’re buying.
Total inventory landed at 6,752 units in May — essentially flat year over year, though 11 per cent above longer-term trends for the month. The sales-to-new-listings ratio slipped to 51 per cent. Days on market averaged 34 days — up from 32 last May. Homes are selling at 98.27 per cent of list price overall.
These aren’t the numbers of a market under stress. But they’re not a runaway market either. The conditions CREB® Chief Economist Ann-Marie Lurie described — rising cost of living, slower migration, more supply choice in the rental and new-build markets — are real factors shaping buyer behaviour right now.
The Calgary market is doing what healthy markets eventually do: normalizing. That’s not a warning sign. It’s an opportunity for buyers who’ve been waiting for less competition, and a reminder for sellers that positioning matters more than it did 18 months ago.
Frequently Asked Questions
Is Calgary still a seller’s market in May 2026?
Overall, Calgary is in balanced market territory at 3.12 months of supply. But that average masks significant variation. The detached segment remains relatively tight at 2.45 months, which still favours sellers in well-priced ranges. The apartment condo market, at 5.14 months of supply and benchmark prices down 9 per cent year over year, has clearly shifted in favour of buyers. Your position depends heavily on what property type and district you’re operating in.
Are Calgary home prices dropping in 2026?
Prices have softened compared to 2025, but the degree varies significantly by property type. Detached benchmark prices are down 2.4 per cent year over year at $747,800 — a modest decline. Apartment condo benchmarks dropped 9 per cent to $300,400. Row homes fell 6 per cent. Semi-detached is holding nearly flat, down less than 1 per cent. Month-over-month, most segments saw a modest seasonal lift from April, which is consistent with normal spring patterns.
How long are homes sitting on the market in Calgary right now?
City-wide, homes averaged 34 days on market in May 2026, up from 32 days a year ago. Detached homes averaged 28 days — flat year over year and the tightest of any property type. Apartment condos averaged 46 days, up from 41 days in May 2025. The longer days on market in the condo segment reflect the supply buildup and demand softening in that category.
Is now a good time to buy a condo in Calgary?
By most measures, the current conditions in the Calgary apartment condo market are the most buyer-friendly they’ve been in several years. With 5.14 months of supply, benchmark prices down 9 per cent year over year, and days on market at 46 days, buyers have genuine negotiating room. Whether now is right for your specific situation depends on your timeline, budget, and the particular building — condo document review, reserve fund health, and any special assessments are all factors that need to be assessed individually.
What’s happening with Calgary real estate prices by district in May 2026?
The district variation is significant. For detached homes, the West leads at $1,005,200 and City Centre is at $985,500, both holding relatively stable. The North East has seen the most softening at $563,900, down nearly 7 per cent. For apartments, North East ($260,000) and East ($219,800) benchmarks are down 13 per cent year over year — the most affected districts. Northwest apartments ($300,600) and West ($328,400) have held up comparatively better. A city-wide average tells you almost nothing about what’s happening on a specific street.
Why are Calgary condo sales down so much in 2026?
Multiple factors are converging. Supply in the new-build condo market has expanded, giving buyers alternatives to resale. The rental market has also added inventory, which affects the investment buyer pool for condos. Slower migration growth compared to the 2023–2024 surge has reduced overall demand pressure. And higher cost-of-living concerns are making some buyers cautious about entering the market at all. Together, these factors have shifted condo market conditions from undersupplied to oversupplied in a relatively short period.
The May 2026 data makes one thing clear: the city you’re buying or selling in depends on what you own and where it sits — not what the top-line headline says.
If you want to know what your home is worth in this specific market — not the average, but your actual address — I offer a free, no-obligation home evaluation.
Book your free home evaluation here.
If you’re a buyer trying to figure out where the opportunities are right now and how to position an offer — I’d be glad to walk through it with you.
Book a free buyer consultation here.
About Steve Kabachia
Steve Kabachia is a Managing Partner at Len T. Wong & Associates — RE/MAX Complete Realty, serving Calgary and the surrounding communities of Airdrie, Cochrane, Okotoks, and Chestermere. With 10 years of experience specializing in move-up buyers, downsizers, luxury properties, and investment real estate, Steve brings the kind of straight talk his clients count on — whether they’re pricing a home to sell or navigating a complex purchase. He starts where you are and takes the journey alongside you. Connect with Steve at stevekabachia.com or reach him directly at 587-437-9017.
