If the Calgary real estate market has felt a little quieter lately, you’re not imagining it.
August continued a trend we’ve seen throughout much of 2026. Fewer homes changed hands compared with this time last year, and fewer new listings came to market. Sales were down about 16% year over year, while new listings declined by nearly 10%.
That doesn’t mean the market has stalled. It simply means we’ve moved into a more balanced environment where buyers have more time to make decisions and sellers need to be more strategic than they did a year or two ago.
One interesting trend continues to stand out. Homes priced over $1 million are still performing well, with sales increasing over last year. Improved inventory has given buyers in that segment more choice, and many continue to see long-term value in Calgary’s market.
The story is different at the entry level. Improved rental availability and more competitive rental rates have encouraged some first-time buyers to wait a little longer before making the leap into homeownership. That’s one of several reasons activity has slowed in the lower price ranges.
Inventory remains healthy, with just over 6,500 homes available across the city. While that’s slightly lower than last month, it’s still enough to provide buyers with considerably more choice than we’ve seen over the past few years. On average, Calgary is sitting at just under four months of inventory, although that number varies significantly depending on the type of property you’re looking at.
Detached and semi-detached homes remain relatively balanced, helping prices stay stable. Apartment-style condominiums, however, continue to face more competition, with nearly six months of supply available. That additional inventory has placed downward pressure on condo prices while detached home values have remained comparatively resilient.
The biggest takeaway this month is one I’ve been repeating for a while now: there isn’t one Calgary market anymore. Detached homes, condominiums, luxury properties, and entry-level homes are each telling their own story. Understanding which market you’re buying or selling in is far more important than focusing on a single headline.
Whether you’re thinking about making a move now or simply trying to understand what your home is worth in today’s market, I’m always happy to help make sense of what these numbers mean for your specific situation.