Calgary sales fell in August as apartments sit 13% below their 2024 peak, CREB shows
Calgary's residential resale market extended its 2026 slowdown in August, with 1,660 homes sold, a 16% decline from the same month last year. The purpose-built rental product continued to siphon demand away from ownership, according to data released by the Calgary Real Estate Board (CREB).
The citywide residential benchmark price declined to $569,800, approximately 1% below year-ago levels, while new listings fell 9.7% to 3,141 units.
Total inventory of 6,509 homes pushed months of supply to nearly four, a marked shift from the supply-constrained conditions that defined Calgary's market during its peak years.
But the story is defined less by aggregate numbers than by the widening distance between what is selling and what is not.
"Meanwhile, we have not seen the same pickup in activity in the lower price ranges, as favourable rental conditions are slowing the transition to ownership," said Ann-Marie Lurie, Chief Economist at the Calgary Real Estate Board in Alberta.
Apartment segment bears the brunt of oversupply
Apartment-style homes are absorbing the sharpest correction. The benchmark price for condominium-style properties fell 8.2% year over year to $295,400 in August. That's approximately 13% below the segment's August 2024 peak of $341,300.
Months of supply reached nearly six, and year-to-date sales are running 26% below last year's pace, with both rental competition and expanding high-density inventory weighing on demand from first-time buyers and investors alike.
Row-style properties also deteriorated, with a benchmark price of $415,200, down 5% year over year, and prices declining across every Calgary district.
Erosion ranged from just over 1% in the North West to more than 12% in the North East.
Surrounding communities are reflecting similar pressures. Chestermere recorded nine months of supply in August, while Airdrie's total residential benchmark price of $508,800 sat more than 4% below year-ago levels.
| Property type | Benchmark price | Year-over-year | Months of supply |
|---|---|---|---|
| Detached | $744,300 | –1.1% | 3+ |
| Semi-detached | $690,500 | +1.0% | 3+ |
| Row | $415,200 | –5.0% | ~4 |
| Apartment condominium | $295,400 | –8.2% | ~6 |
| Total residential | $569,800 | –1.0% | ~4 |
Source: Calgary Real Estate Board (CREB), August 2026
Detached and luxury segments hold their ground
Despite the broader pullback, detached homes offered relative stability. The August benchmark price of $744,300 was broadly flat month over month and down only 1.1% year over year.
Semi-detached properties held near balance, with the benchmark edging up 1% to $690,500.
Homes priced above $1,000,000 posted year-over-year sales gains in August, driven largely by detached and semi-detached transactions where supply choice expanded without triggering a full correction in values.
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