Calgary’s housing market is starting to cool, with new data showing a noticeable slowdown in activity, especially in the condo segment.
According to the Calgary Real Estate Board, a total of 1,881 homes sold in March, down 13% compared to the same time last year. The pullback is being driven largely by weaker demand for condos, alongside rising supply and slower migration into the city.
Prices Are Starting to Adjust
Home prices are also moving lower, though not evenly across the market.
The overall benchmark price in Calgary fell to $565,600 in March, down about 4% year-over-year. But the biggest declines are happening in higher-density housing.
Condo prices dropped roughly 9%, while row homes fell around 6%. In contrast, detached homes are holding up better, down just over 3%, and semi-detached homes are only slightly lower.
Ann-Marie Lurie says the market is now split, with tighter conditions for detached homes and more buyer-friendly conditions for apartments and condos.
Supply Is Building, Even With Fewer New Listings
Interestingly, fewer new listings are coming onto the market, but total inventory is still rising.
There were 3,409 new listings in March, down about 15% from last year. But overall inventory climbed to 5,395 homes, up nearly 5%.
That suggests homes are sitting longer, and demand is not keeping pace with supply.
What This Means for the Market
Calgary is shifting into a more balanced market after a strong run.
Buyers are starting to gain more leverage, especially in the condo segment, where prices are adjusting more quickly. Sellers, on the other hand, are facing more competition and may need to be more strategic with pricing.
Bigger Picture for Canada
What’s happening in Calgary reflects a broader pattern across Canada.
Condos are often the first to soften when demand weakens, while detached homes tend to be more stable. At the same time, rising inventory is becoming a common theme in multiple markets.
What This Signals
The Calgary market isn’t crashing, but it is clearly transitioning.
Sales are down, inventory is rising, and prices are adjusting. That combination points to a shift away from the tight seller’s market conditions seen in recent years, toward something more balanced, and in some areas, tilted in favour of buyers.
References (APA – OHM Standard)
Canadian Press. (2026, April 1). Calgary home sales fall 13% in March as condo demand pulls back, says real estate board | CBC News
Calgary Real Estate Board. (2026). March 2026 housing market update.
Canada Housing Market 
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