January 17, 2026
Calgary’s housing market cooled modestly toward the end of 2025, but new forecasts suggest prices are likely to edge higher by the end of 2026. While sales activity slowed and some segments posted year-over-year declines, Royal LePage expects improving seasonal conditions and gradual demand recovery to support modest price growth in the year ahead.
Calgary Home Prices Dip in Late 2025
According to Royal LePage’s Q4 2025 Market Update, aggregate home prices in Calgary fell 1.0% year-over-year in the fourth quarter, reflecting a market that has shifted away from the intense competition seen earlier in the cycle.
As of Q4 2025, the aggregate home price stood at $681,700, down slightly from earlier in the year but still elevated compared with pre-pandemic levels.
Detached Home Prices Hold Relatively Steady
Single-family detached homes showed resilience compared with other segments.
- Q4 2025 price: $792,100
- Quarter-over-quarter change: -2.0%
- Year-over-year change: -0.1%
While prices dipped from their Q3 peak, the minimal annual decline suggests detached homes continue to benefit from end-user demand, even as overall market momentum slows.
Condo Prices and Sales See Sharper Pullback
Condominiums experienced a more pronounced cooling.
- Condo benchmark price: $260,800
- Year-over-year change: -2.8%
- Sales activity: -15% year-over-year
The condo segment has been more sensitive to affordability pressures, investor pullback, and rising inventory, contributing to softer pricing and reduced transaction volumes.
Sales Slow as Market Rebalances
Overall home sales in Calgary declined 15% compared with the same period last year, signaling a shift toward more balanced conditions.
Royal LePage Benchmark broker and owner Corinne Lyall said the slowdown reflects both seasonal patterns and improving balance between supply and demand, noting that buyer and seller activity typically eases toward year-end.
Royal LePage Forecasts Modest Price Growth in 2026
Looking ahead, Royal LePage expects Calgary’s housing market to regain some momentum as seasonal conditions improve.
- Forecast aggregate price growth by Q4 2026: +1.5%
- Projected aggregate price: $691,926
While this increase is modest, it suggests the market is stabilizing rather than entering a deeper correction.
Calgary Among the Slowest-Growing Markets Forecast for 2026
Royal LePage’s national forecast shows Calgary is expected to see one of the smallest price increases among major Canadian cities in 2026.
By comparison:
- Quebec City: +12% forecast growth
- Greater Montreal Area: +5% forecast growth
- Greater Toronto Area: -4.5% forecast decline
- Greater Vancouver Area: -3.5% forecast decline
This divergence highlights the uneven nature of Canada’s housing recovery, with affordability, supply conditions, and regional demand playing an increasingly important role.
What This Signals for Calgary’s Housing Market
Calgary appears to be transitioning into a period of moderate stabilization, where prices are no longer surging but are also not experiencing sharp declines. Softer sales and modest price dips in late 2025 have reduced pressure in the market, while forecasts suggest limited upside rather than renewed overheating.
For buyers, this environment may offer improved negotiating conditions. For sellers, expectations may need to adjust toward slower price growth as the market normalizes in 2026.
References
Royal LePage. (2026). Q4 2025 market update and 2026 housing forecast. https://www.royallepage.ca
Collins, K. (2026, January 15). Calgary home prices cool a bit but are forecast to climb in 2026. https://dailyhive.com
Canada Housing Market 
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