Calgary Real Estate Market Update: April 2026
Calgary: A Market Finding its Floor
Calgary's overall residential benchmark price sat at $568,800 in April, which is up modestly from March on seasonal momentum, but down roughly 3% from a year ago. Total sales of 2,104 units came in 6% below April 2025 levels, while inventory climbed to nearly 6,000 units with a sales-to-new-listings ratio of 55%.
What that adds up to is a market hovering just below three months of supply - textbook balanced territory. But that headline figure masks a large range underneath it.
Condo inventory reached 1,920 units in April, sitting 27% above long-term trends and nearly 3% above last April. At over four months of supply, this is unambiguously a buyer's market. The benchmark price of $301,400 is down nearly 9% YoY, with the steepest declines in the North East, East, North, and South East districts.
The pace of new listing growth did slow in April (a mild positive signal), but not enough to prevent further inventory accumulation. There is no near-term catalyst for meaningful price appreciation in this segment at the city level but likewise no catalyst to the downside either.
If you have a condo in Calgary, here is the bottom line for your portfolio:
1. Prices: The Decline is Flattening
While benchmark prices for condos are down 9% YoY (currently at $301,400), the "bleeding" has slowed. Prices have been largely flat or shown modest seasonal gains over the last 90 days. This means that we are likely seeing the "floor." If you survived the 2025 dip, current data suggests that values are finding support at these levels, supported by a still-resilient local economy.
2. The Supply Hurdle
Inventory is the biggest headwind. With 1,920 units on the market (27% above long-term norms) and 4.4 months of supply, it is officially a Buyer’s Market for condos, so don't expect a quick flip at record prices. Selling now requires aggressive pricing and "move-in ready" presentation.
The current inventory peak is a result of record-breaking completions from the 2024 construction boom. Once this wave of "new-build" supply is absorbed over the next 12–18 months, the lack of new project starts in 2025/2026 will eventually tighten the market again.
3. Rental Market: Your Saving Grace
According to CHMC’s Rental Market Survey, Calgary vacancy rates were up to 4.9% in 2025, a moderate increase from 4.6% seen in 2024 but a massive increase from 1.4% seen in 2023 which was the tightest market in over a decade. If you price your units correctly and aggressively, there is still very strong renter demand. Tenants in one of my condos moved out at the end of April and I already had the unit re-rented the first week of May!
Focus on tenant retention; it’s currently cheaper to keep a good tenant than to compete with the surge of brand-new rental completions hitting the market. If you want your tenants to stay, then 3 months before the end of the lease, approach your current tenants with an offer to renew the lease for another year at the current rate - most will, even if more affordable options are available because it’s typically not worth the hassle to move to save $50/mo.
4. Strategic Outlook: "Set it and Forget it"
The market is shifting toward balanced conditions overall, but condos are lagging behind detached homes.
2026 is a year for patience. With interest rates stabilizing around 4-4.5%, the cost of carrying your investment has become more predictable. Those who hold through this "supply correction" will likely benefit as the construction pipeline slows down significantly in late 2026 and 2027.
Final Thoughts
I think the market has finally found its floor. The benchmark price of $301,400 has held remarkably steady for four consecutive months, signaling that the initial shock of rising inventory has been absorbed. We have moved from a speculative growth phase into a yield-driven consolidation phase.
Real estate wealth isn't built during the spikes; it’s preserved during the plateaus. If your property is occupied and your mortgage is being paid down, time is your greatest ally. Stay focused on your rental cash flow, keep your tenants happy, and let the market cycle do the heavy lifting while you wait for the supply-demand balance to inevitably tilt back in your favor.
Stay informed, stay patient, and get in touch if you need help selling a property or if want to explore the opportunities - there are NO BRAINER deals out there right now if you know where to look.
Considering An Investment?
The opportunity in in Calgary today is found in the units that buyer’s have failed to close on, and the developer is now liquidating below resale market values. I have 2 bedroom units from the mid-$200s that cash flow and are irresistible with a long-term outlook!
DETAIL BY PROPERTY TYPE
(Statistics from the Calgary Real Estate Board)
Condos
Sales: 432 (-26.7% from April 2025)
New Listings: 945 (-13.0%)
Inventory: 1,920 (+2.8%)
Months of Supply: 4.4 (balanced market)
Days on Market: 47 (up from 36 days)
Benchmark Price: $301,400 (-10.3% but +0.4% MoM)
Townhomes/Row Houses
Sales: 363 (+2.3% from April 2025)
New Listings: 664 (-4.5%)
Inventory: 1,049 (+4.4%)
Months of Supply: 2.9 (balanced market)
Days on Market: 37 (up from 30 days)
Benchmark Price: $422,900 (-7.5%)
Detached Houses
Sales: 1,095 (-0.6% from April 2025)
New Listings: 1,863 (-2.3%)
Inventory: 2,468 (-1.7%)
Months of Supply: 2.3 (seller’s market)
Days on Market: 30 (up from 25 days)
Benchmark Price: $745,400 (-3.1% but +0.6% MoM!)
Book A Call to Review Investment Options
I’m here to help you analyze the market and make decisions that fit your investment goals, get in touch today!
Calgary offers some of the most affordable investment opportunities in Canada with some of the highest rents per dollar invested!
(and properties that actually cash flow!)