Calgary Real Estate Board: May 2026 Market Enters Balanced State with Rising Inventory and Easing Sales Activity

Calgary Real Estate Board — May 2026

The Calgary real estate market shifted to balanced conditions in May 2026, as inventory levels rose and sales activity slowed. The composite benchmark price for May was $572,200, reflecting a 1.9% year-over-year decrease, while total sales declined by 16.0% compared to last year, according to the Calgary Real Estate Board.

Market Analysis

May 2026 saw a notable shift in Calgary's real estate landscape, moving towards a balanced market. Inventory levels reached 6,752 units, consistent with last May but 11% higher than longer-term trends, primarily driven by increased supply in apartment and row-style homes. Conversely, inventory for detached homes was down three percent compared to both last year and long-term trends. Sales activity experienced a slowdown, with 2,162 units sold in May, marking a 16.0% decrease from last year's levels and similar to April's figures. New listings also saw a 13% year-over-year reduction, but this was insufficient to offset the pullback in sales, leading to the sales-to-new-listings ratio easing to 51.0%. This lower ratio contributed to an inventory build and a rise in months of supply.

Ann-Marie Lurie, Chief Economist at the Calgary Real Estate Board (CREB®), noted, “The shift in supply is being felt in the market. More supply choice in the new and rental markets has created a more competitive environment for potential buyers. At the same time, concerns over rising cost of living and slower migration are also weighing on consumers.” This confluence of factors has pushed the overall resale market into a balanced state. The unadjusted total residential benchmark price for May was $570,500, an increase over April’s levels and January’s $554,400, yet still three percent lower than last May’s figures. Seasonally adjusted, total residential prices have remained relatively stable, with improvements in detached homes offsetting declines in apartment-style units.

Property Type Analysis

Market conditions varied significantly across property types in May. The detached segment reported a benchmark price of $687,500. Detached new listings reached 2,195 units, with 1,192 sales, resulting in a sales-to-new-listings ratio of 54%. Despite a monthly lift in inventory, supply remained three percent lower than last year, maintaining a relatively balanced market with two-and-a-half months of supply, which supports price stability.

In contrast, the apartment condominium market, with a benchmark price of $312,100, is experiencing conditions that favor buyers, characterized by more than five months of supply. Apartment prices continue to trend down and are nine percent lower than levels reported last May. The attached/townhouse segment recorded a benchmark price of $449,500, positioning it between the detached and apartment markets in terms of supply and demand dynamics.

Regional Highlights

While the overall Calgary market has entered a balanced state, the impact of shifting supply is not uniform across all property segments. Detached homes continue to exhibit relatively balanced conditions, with inventory levels remaining tighter compared to other property types. This segment has seen seasonal price lifts over the winter months, contributing to the overall stability of the total residential benchmark price.

Conversely, the apartment condominium market is experiencing a more pronounced shift, with conditions clearly favoring buyers due to higher supply levels. This increased choice for consumers in the apartment segment, coupled with broader economic concerns, has led to continued downward pressure on apartment prices. This divergence highlights the importance of understanding specific property type dynamics within the broader Calgary market.

For Buyers

With the Calgary market shifting to a balanced state and increased inventory, particularly in the apartment condominium segment, buyers have more choice. It is an opportune time to explore options, especially for those considering apartment-style units where conditions favor buyers. Buyers should conduct thorough due diligence, understand the specific market conditions for their desired property type, and work with a Calgary Real Estate Board professional to navigate the varied landscape.

For Sellers

Sellers in May 2026 face a more competitive environment due to rising inventory and slower sales activity. While detached homes maintain relatively balanced conditions, sellers of apartment-style units may need to adjust expectations and pricing strategies to attract buyers. Competitive pricing, effective marketing, and professional staging are crucial. Consulting with a Calgary Real Estate Board member can provide valuable insights into current property-specific market conditions and help develop an effective selling strategy.