After starting the year with a few speedbumps, Calgary new build and re-sale real estate market has good momentum.
Calgary Realtors and CREB stats explain the encouraging details.
Calgary has moved from a seller’s market to a more balanced market. Despite some concerns about benchmark prices, Calgary remains one of the more affordable major metropolitan markets in Canada for both purchasing and renting a home. Although migration has slowed, there is consumer confidence, a resilient job market, world-class recreational opportunities and proximity to the mountains, combining to make the Calgary region one of the most desirable places to live, work and play in Canada.
Calgary real estate brokers, builders (and stats) agree on Calgary resales, new builds, single family, multi family and condos making the Calgary real estate market diverse.
“Following four consecutive record years of housing starts, the Calgary new home market has begun to find its footing in 2026,” says Brian Hahn, CEO of BILD Calgary Region, the voice of Calgary’s home building and land development industry. “All the construction activity from the past four years has brought more supply to in Calgary and the greater Calgary Metropolitan Area (CMA), including Airdrie, Chestermere, Cochrane, Foothills County, High River, Rocky View County, Okotoks and Strathmore. It gives Calgary buyers more choice and contributes to a more balanced market.”
Corinne Lyall, owner and broker at Royal LePage Benchmark, explains that mid-way in 2026, “Calgary is really a tale of two markets. Overall, we are experiencing a balanced market, which is good, but there are differences depending on the type of property. The inventory levels really vary depending on whether it is single family, detached or condominiums.
“There have certainly been changes, compared to this time last year. Interestingly enough, the single-family market has stayed steady and balanced but less inventory this year. Also had less sales which has evened out that market.
“If the listing is under the $700,000 mark, there may likely be multiple offers, depending on the community. In higher price ranges and communities, where there is more competition, negotiation is possible.
“No doubt about it, immigration and inter-provincial migration have decreased and slowed the market, especially from what it was post-COVID.”
CREB meticulously monitors and analyzes the Calgary real estate market and, according to CREB chair Susanita de Diego, “Detached homes and apartments are a story of opposites. The benchmark for detached homes was $745,400 in April, which is down less than three per cent from their peak last year. The benchmark for apartments was $301,400, down 12 per cent from their peak. Row homes are between the two, with the benchmark eight per cent lower than their peak at $422,900.
“There are fewer detached homes listed than usual for this time of year, but 20 per cent more apartments and row-style homes than we’d usually have. That’s creating a mixed market.”
Halfway into 2026, the Calgary real estate market continues to be impacted by the multi-family phenomenon, a significant segment of Calgary’s overall housing mix.
Brian Hahn cites BILDCR states, “Rental starts reached a record high in Calgary, with the rental sector driving a significant share of overall construction activity across the CMA. Multi-unit construction, including condominiums, surged 28 per cent through the first nine months of 2025 compared to the same period in 2024. Rental apartment completions also set records, with construction remaining well above historical trends – particularly for purpose-built rental products.”
There is also strong 2026 momentum for purpose-built rental construction – townhomes, row homes, multiplexes and accessory suites.
“About 60 per cent of new starts fall into the category, mostly rows and townhouses. A meaningful shift from the housing mix of even a few years ago, and it reflects BILD members’ adaptability to market demand from buyers and renters at different price points and life stages.”
Mid-way through 2026, Calgary’s condo market continues volatile. “Condos experienced higher inventory levels and slower sales, putting downward pressure on prices, and creating a buyer’s market,” Corinne Lyall notes.
“A lot of this is due to the choices for consumers since there are so much more purpose-built apartment buildings and opportunity for rentals.”
The facts, figures and real estate experts explain that Calgary’s mid-2026 real estate market is different from this time last year.
The federal government’s new GST rebate for first-time buyers of newly built homes eliminates the GST on qualifying new homes up to $1 million and provides graduated relief on homes up to $1.5 million. Hahn adds, “In a relatively affordable market like Calgary, that kind of saving can make a real difference.”
“The biggest difference is the number of people coming to Calgary has slowed at the same time that new home construction has taken off,” de Diego says. “The inventory of detached homes is still a little below what we usually have in the first half of the year, but a record number of new apartments has pushed inventory well above long-term trends.
“This is giving buyers a breather from the rapid price increases we’ve seen over the past several years when new homes couldn’t keep up with all the people moving to Calgary from other provinces and from around the world.”