January 2026 Calgary Housing Market – Prices, Sales & Trends

February 3, 2026

The Calgary housing market entered 2026 with notable shifts in sales activity, inventory levels and pricing, according to the latest data from the Calgary Real Estate Board (CREB®). After several years of tight supply and strong price growth, the market is increasingly showing signs of balanced conditions, with rising inventory, mixed sales trends and pricing that varies significantly by property type and neighbourhood.

Market Overview – January 2026

Data from CREB’s January 2026 statistics show the Calgary market experiencing slower sales and more supply, compared with last year:

Total residential sales for January: approximately 1,234 homes sold – down about 15% year-over-year.
New listings: around 2,785 units were added, boosting inventory levels substantially.
Inventory: active listings rose to 4,391 units, a 20.6% year-over-year increase.
Months of supply: roughly 3.56 months, signaling a move toward balanced conditions between buyers and sellers.
Days on market: homes were on the market for about 53 days on average, showing steady activity.

This combination of slower sales and rising inventory reflects a market that is no longer sharply favoring sellers, particularly as supply catch-up continues from the housing boom years.

Benchmark & Average Prices

One of the biggest themes of the January update is the softening of prices across many segments of the Calgary housing market:

Total residential benchmark price: $554,400, down about 4.7% year-over-year.
Detached homes: benchmark remained near $726,900, down ~2.6% YOY.
Semi-detached units: approximately $663,064, showing a slight 1.1% annual increase.
Townhouses: benchmark was near $433,951, down 3.2% YOY.
Apartment condos: saw the largest decline at around $335,653, down ~6.4% YOY.

These trends highlight how price movements vary by property type, with apartment and townhouse segments experiencing more downward pressure due to elevated inventory and reduced urgency from buyers.

Sales Pressure & Segment Shifts

CREB reported that higher-density housing segments — specifically row homes and apartments — have seen larger declines in sales and greater inventory pressures compared with detached homes:

Sales declines: high-density homes experienced the steepest drops in sales activity, while detached units remained comparatively stronger.
Sales-to-New-Listings Ratio (SNLR): dropped to ~44–47%, a sign that supply is gaining ground relative to sales.
Inventory levels for apartment-style units have reached multi-month highs, reflecting slower absorption by buyers.

In practical terms, this means detached homes remain more competitive in many neighbourhoods, while buyers of condos and townhouses may find greater negotiating power and more options.

Supply Growth & Market Dynamics

A major driver of the market shift in early 2026 is increasing supply after years of historically tight conditions:

Inventory in many property types is now higher than long-term averages, particularly in row and apartment housing.
Rising new listings from late 2025 have carried over into 2026 and are contributing to the elevated inventory picture.

This supply growth is partly due to record levels of new builds over recent years as well as slower population growth and a more cautious buyer pool. According to CREB’s Chief Economist, this contributes to a market that is less urgent for buyers and more balanced overall.

What This Signals for Buyers & Sellers

The early 2026 statistics suggest that Calgary’s housing market is no longer heavily tilted toward sellers, unlike some of the previous boom or rapid growth periods. Key takeaways include:

Buyers now have more choice with increasing inventory and slower demand pressure.
Detached homes may still attract competition, while higher-density segments like condos and townhomes offer relative leverage to buyers.
Balanced conditions may persist into spring 2026 as supply remains elevated.
Prices are modestly lower on average compared to early 2025, but conditions vary significantly by property type and district.

For sellers, pricing strategy and positioning will be increasingly important in a market where buyers have more options and negotiation power. For buyers, the current landscape offers greater choice and less urgency than in recent years.

References

Calgary Real Estate Board (CREB®). (2026). 2026 Forecast Calgary and Region Yearly Outlook Report. https://www.creb.com/News/Media_Releases/2026/January/forecast_2026/
Calgary Real Estate Board (CREB®). (2026). January 2026 MLS Statistics. https://www.creb.com/Housing_Statistics/documents/01_2026_Calgary_Monthly_Stats_Package.pdf
Ramanjeet Patti. (2026). Calgary Housing Market Update: January 2026 Stats. https://www.keysbyraman.ca/post/calgary-housing-market-update-january-2026-real-estate-statistics
Real Estate Magazine. (2026). Calgary market sees reduced urgency as inventory spikes. https://realestatemagazine.ca/calgary-market-sees-reduced-urgency-as-inventory-spikes-creb/
Reeves Realty. (2026). Calgary Housing Market Update – January 2026. https://www.reevesrealty.ca/blog/calgary-housing-market-update–january-2026.html

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