A Tale of Two Markets in February 2026
If you’ve been watching the Calgary housing market lately, you might feel like you’re hearing two completely different stories. Depending on whether you’re looking for a detached home in the West district or an apartment-style condo in the North East, the reality on the ground is night and day.
As we move into March 2026, the data from February shows a market that is no longer moving as one. We are seeing a significant “divergence” where property type and price point dictate who holds the upper hand.
The Inventory Crunch: Houses vs. Condos
For first-time buyers and move-up families, the struggle remains centered on low-density housing. The detached market is grappling with a supply shortage, particularly for homes priced below $700,000. Citywide, detached homes sit at a relatively tight 2.64 months of supply, keeping the pressure on prices.
Conversely, investors and empty nesters looking at the apartment sector are seeing a completely different landscape. Conditions there currently favour the buyer. A massive wave of new construction is hitting the finish line, with nearly 18,000 units currently under construction across the city. This surge in supply is giving condo buyers a lot more breathing room than they’ve had in years.
February 2026 Benchmark Price Snapshot
While the total residential benchmark price of $560,500 is 4% lower than last year, we saw a 1% gain just since January. This is a typical seasonal pattern where prices start to find their footing as the spring market kicks in.
| Property Type | Benchmark Price | Year-Over-Year Change |
| Detached | $734,300 | -3% |
| Semi-Detached | $682,200 | 0% |
| Row / Townhome | $423,600 | -5% |
| Apartment | $298,600 | -9% |
Regional Highlights: Where is the Heat?
The market dynamics are highly localized right now:
- The West District: Remains the tightest pocket in the city for detached homes, with less than two months of supply.
- The North East: Continues to struggle with excess supply. In the apartment sector specifically, supply has surged to over 11 months, leading to steeper price adjustments.
- Surrounding Areas: Airdrie ($512,200) and Cochrane ($553,500) are seeing balanced conditions with about 3 months of supply, though benchmark prices remain about 3-5% lower than last February.
Strategic Takeaways
For empty nesters considering downsizing, the oversupply in condos means you likely have significant leverage when buying your next home. For families looking to move up, timing is everything; while your current detached home is in high demand, the gap to your next property may be narrowing.
Hopefully, this puts our current situation into perspective and clarifies what’s actually happening in your market.
Next Step: Schedule a call to discuss your specific property questions or book a free market analysis consultation via our contact form to see how your neighborhood compares to these citywide averages.
