May 2026 Calgary Real Estate Market Trends
If you've been watching the Calgary market, you've probably noticed things feel a little different this spring. There are more homes to choose from, sales have slowed, and prices — depending on what you're looking for — are heading in very different directions.
The headline number is $570,500 — that's the benchmark price for all residential properties in Calgary in May 2026. It's up from $554,400 at the start of the year, but still about 3% lower than May 2025. The overall picture, though, is really two separate stories depending on property type.
"The shift in supply is being felt in the market. More supply choice in the new and rental markets has created a more competitive environment for potential buyers."
— Ann-Marie Lurie, Chief Economist, CREB®Where the market stands today
Calgary currently has 6,752 homes for sale — which sounds like a lot, and it is. That's 11% higher than long-term seasonal norms. But the surplus isn't spread evenly across all home types. Detached homes are actually 3% below where they were last year, while apartment condos are where the real inventory pile-up is happening.
With 2,162 sales in May — 16% fewer than last year — buyers aren't absorbing supply as quickly as sellers are adding it. That's what's pushed us into balanced-to-buyer-friendly territory overall. Think of it this way: the detached market sits at about 2.5 months of supply (balanced), while the condo market is at over 5 months (buyer's market).
How prices look by property type
This is where things get really interesting. Not all properties are being treated the same by the market right now.
Up from $724,000 in January. Prices holding strong — especially in the West district.
Up from $667,000 in January. NW and West districts hitting record highs.
Rising since January but still below 2025 levels. More inventory = more negotiating room.
Buyer's market territory. Prices declining — NE, North & East down over 10%.
The condo story deserves its own spotlight
If you're a condo buyer, this is your moment. With sales down nearly 28% year-to-date and inventory sitting high, there are real deals to be had. The benchmark price of $300,400 is the lowest it's been since at least the start of the year — and prices are still trending down.
Why? Competition from new-builds and purpose-built rentals is pulling buyers in multiple directions. Sellers in the resale condo market are feeling the squeeze. For buyers with flexibility, that squeeze is an opportunity.
What about the surrounding communities?
Cochrane is the quiet standout — it's one of the few areas in the region where sales are actually up compared to last year. With prices rising and supply tight, it remains a seller-friendly market. Okotoks has very low inventory but is somewhat insulated by competition from south Calgary and surrounding developments.
So — is now a good time to buy or sell?
It genuinely depends on what you're looking for, and that's not a dodge. Selling a detached home in Calgary right now? You're still in reasonably solid territory. Buying a condo? You have real leverage. Looking in Cochrane? Act sooner rather than later.
The days of every property flying off the shelf are behind us for now. That means more time to make smart decisions — but also more nuance to navigate. That's where we come in.
Not sure what this means for your situation?
Let's talk through it. Every home and every goal is different — we'll give you a clear-eyed picture with no pressure.
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