CALGARY — As is typical in early spring, the number of homes listed for sale in Calgary increased in March, although supply levels varied by housing type, says Ann-Marie Lurie, chief economist at the Calgary Real Estate Board (CREB).
"Inventory levels saw a typical monthly rise, but compared with long-term trends, it remained well above the 10-year average for both row and apartment-style units and well below the trend for detached homes,” says Lurie.
“This is not a surprise given the pullback in detached housing starts last year despite record-high apartment-style starts.”
Sales of all types reached 1,881 in March, up from February, but 13% below sales in March 2025, due to slowing sales and increased supply in the apartment condominium sector.
“When considering total residential housing statistics, conditions appear to be relatively balanced as sales, new listings, inventories and prices all trended up over the previous month as we start to move into the spring market,” says Lurie.
“However, when we look deeper, we are seeing a market that ranges from tighter conditions for detached homes to the apartment sector, where conditions favour the buyer.”
“As expected, this is supporting upward momentum in detached prices and downward pressure in the apartment condominium sector.”
The unadjusted benchmark price in Calgary was $565,600, a slight 1% increase from February, but a 4% decrease from March last year.
Here are Lurie’s overviews by housing sector.
Detached/single-family
This sector has the tightest conditions in the market. There were 982 sales and 1,614 new listings in March, with a sales-to-new-listings ratio of 61%, with supply at just over two months based on sales, similar to last year. Conditions varied across the city, with less than two months reported in the northwest, west, south, southeast and east districts. The city centre and north areas were in balanced territory, while the northeast district experienced higher supply relative to demand.
The benchmark price was $741,300 , down by 3% from the peak price of $766,600 last year. However, tight conditions in most parts of the city are driving some price gains.
Semi-detached
Sales rose over last year’s number for the second consecutive month, due to new listings adding to supply, which reached 480 units. There were 193 sales, comparable to long-term trends and conditions remain relatively balanced.
The unadjusted benchmark price was $686,100, up slightly from February and March last year, with a variance between areas of the city, with year-over-year prices down in the city centre, northwest and west districts.
Row/townhomes
There were 778 sales in March, lower than last year, contributing to a 19% decline over the first quarter. There were 1,581 new listings, keeping the sales-to-new-listings ratio just below 50% and contributing to months of supply rising to nearly three months. While the row market is relatively balanced in most areas of the city, conditions are favouring the buyer in the northeast district.
The unadjusted benchmark price was $423,900, similar to February and 6% lower than last year. After the first quarter, benchmark prices remain relatively comparable to levels reported in the previous quarter, as quarterly losses in the northeast, north, southeast and east districts offset gains in the city centre and west districts.
Apartment condominium
With 1,774 units in inventory, supply is close to the record high for the month reported in 2008. With the sales-to-new-listings ratio hovering around 40% and nearly five months of supply, it is not surprising that prices struggle to improve.
The unadjusted benchmark price was $300,300, slightly higher than last month but more than 9% lower than last year. After the first quarter of this year, apartment prices have eased by nearly 3% compared with the fourth quarter of 2025. While prices eased across all districts, the largest declines occurred in the south and north districts, both exceeding 4%.
