As we move further into 2026, Calgary’s housing market continues to show very different conditions depending on the type of property. February’s numbers highlight something we’ve been seeing more clearly over the past several months — while some segments of the market remain tight, others are seeing increased supply that is giving buyers more options.
Overall, the market is sitting in relatively balanced territory, but the experience can look quite different depending on whether you’re buying or selling a detached home, townhouse, or condo.
Across Calgary in February, there were 1,526 sales and 4,822 active listings, which resulted in about three months of supply and a sales-to-new-listings ratio of 55%. While sales were down about 11% compared to last February, much of that decline was driven by slower activity in the row and apartment segments.
At the same time, the benchmark price for all residential property types in Calgary reached $560,500, which is about 1% higher than January, but still 4% lower than last year.
What’s particularly interesting right now is how different each property type is performing.
Detached Homes Continue to Face Limited Supply
Detached homes remain one of the tightest segments of the market, particularly in more affordable price ranges.
In February there were 736 sales and 1,269 new listings, resulting in just under three months of supply. While that is considered balanced overall, many buyers are still finding limited options when looking for detached homes priced below $700,000.
Higher price ranges tend to be more balanced, while more affordable detached homes continue to see stronger competition.
The benchmark price for a detached home reached $734,300 in February, which was just over 1% higher than January, though still 3% lower than last year.
Market conditions also vary by area of the city. The West district and City Centre reported some of the strongest conditions and price growth, while the North East district is seeing more inventory and softer pricing.
Semi-Detached Homes See Some of the Tightest Conditions
Semi-detached homes actually reported the lowest months of supply of any property type in February.
There were 175 sales and 253 new listings, resulting in a 69% sales-to-new-listings ratio and just 2.4 months of supply.
While this is a smaller segment of the market, those tighter conditions helped support price growth. The benchmark price reached $682,200, which is over 2% higher than January and roughly in line with prices from last year.
Like other segments, price performance varied depending on the area, with stronger activity in the City Centre, North West, and West districts, while other areas saw slight declines.
Row Homes Remain Relatively Balanced
Row homes saw an increase in sales in February compared to January, with 270 sales recorded.
At the same time, 491 new listings came onto the market. This helped bring the sales-to-new-listings ratio to 55%, which is considered balanced.
Inventory levels remain somewhat elevated, but stronger sales helped reduce the months of supply from over four months in January to just over three months in February.
The benchmark price for row homes reached $423,600, which is typical for seasonal price increases early in the year. However, prices are still about 5% lower than last February, with some districts seeing larger adjustments than others.
Apartment Condos Continue to Favour Buyers
The most noticeable shift in the market right now is happening in the apartment condominium segment.
Even though new listings slowed slightly in February, there were still 753 new listings and only 345 sales, leaving the sales-to-new-listings ratio at just 46%.
This has led to rising inventory levels, with 1,580 condo units currently on the market and months of supply sitting well above four months.
As a result, this segment of the market continues to favour buyers.
The benchmark price for apartment condos dropped to $298,600, which is nearly 1% lower than January and over 9% lower than last year.
Supply levels vary significantly across the city. Some areas like the North East have over 11 months of supply, while others, like parts of the South district, are closer to balanced conditions.
One of the factors contributing to increased supply is the number of apartment projects currently under construction. Calgary saw record housing starts last year, with nearly 18,000 apartment units currently being built. While many of these units are intended for rentals, they still influence the broader condo ownership market.
What This Means for Buyers and Sellers
What we’re seeing right now is a two-speed market.
Detached and semi-detached homes — particularly in more affordable price ranges — continue to see tighter conditions and limited supply.
At the same time, condo buyers have more choice than we’ve seen in several years, which is creating more negotiating power in that segment.
For sellers, the strategy depends heavily on property type, pricing, and location. Homes that are well-priced and well-presented are still selling, but the market is more sensitive than it was during the peak of the pandemic-era market.
As always, understanding the specific conditions for your property type and neighbourhood is key.