Calgary Real Estate Market Update: January 2026
Signs of Life Emerge
I’ve seen signs of emerging life in the Calgary real estate market that are giving me hope for a recovery. A larger developer in Calgary recently had over 30 buyers walk away from their pre-construction contracts and fail to close on their purchases.
I know you’re saying “Kyle, that’s not good news …”. Well the developer is reselling those units and since they get to keep the deposit and are going to sue buyers for damages, they are selling the units at a discount below market values (because they they can’t carry 30 units for long…).
Now I know you’re saying “Kyle, that is horrible news” and it is; it’s affecting resale values in the building temporarily until the inventory is absorbed but before you slam your laptop shut in anger, the good news is that they sold 15 units in a week! This is a sales level not seen since the heyday 5 years ago and proves there is a market but it is very price dependent - there are sooooo many people sitting on the sidelines right now that want to buy. Buyers are picking up units at 2020 prices for brand new builds - developers can’t even build for those prices anymore, and there are incredible opportunities out there for people willing to take the leap. <- I would buy more if I could but I’m tapped out for mortgages now.
As the developer is selling through the inventory, they are now increasing prices and it’s looking like we have reached the bottom of the market in some neighbourhoods/areas/buildings and gives me hope for the start of a recovery.
Overall Calgary Market Snapshot
January 2026 marked a typical seasonal slowdown for Calgary’s real estate market, but with a notable divergence between property types. While overall activity softened, the data points to a market that is increasingly segmented.
Calgary recorded 1,234 residential sales in January, representing a 15% year-over-year decline, though activity remained in line with typical January levels. Sales declined across all property types, with the most pronounced pullback occurring in apartments and row-style homes.
At the same time, sellers were quick to re-enter the market following the December slowdown. This pushed the sales-to-new-listings ratio down to 44%, largely driven by increased supply in higher-density segments.
Inventory rose to 4,391 units, the highest January level since 2020 and the highest level for condos (EVER). However, market conditions continue to vary significantly by property type:
Calgary Market Snapshot by Property Type
Buyer Urgency Is Gone
This widening gap underscores why buyer urgency has faded in some segments but remains intact in others. This is still being driven by economic uncertainty related to tariffs, trade wars, and potential job losses - people just aren’t making a move unless they absolutely have to. Psychology is important here and there is no more FOMO but it will return - it is always cyclical.
Despite price declines in the latter half of 2025, seasonally adjusted prices stabilized in January, suggesting the market may be finding a short-term floor. Still, total residential benchmark prices are down nearly 5% year-over-year, primarily due to oversupply and price corrections in row and apartment-style homes. This will continue through 2026 as near record supply is brought to the market but will normalize in 2027 and will be the catalyst for price growth through 2027/28.
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?
Investing in Calgary right now is about finding the value deals - developers are offering incredible deals that were unheard of a few years ago.
With cash flow positive properties at today’s rents and interest rates - it is definitely worth considering if you’re a long-term investor.
DETAIL BY PROPERTY TYPE
(Statistics from the Calgary Real Estate Board)
Condos
Sales: 273 (-26.2% from Jan 2025)
New Listings: 787 (-14.6%)
Inventory: 1,435 (+10.8%)
Months of Supply: 5.3 (balanced market)
Days on Market: 65 (up from 51 days)
Benchmark Price: $301,200 (-9.1%)
January set a record for inventory with 1,435 units, the highest level ever. With a sales-to-new-listings ratio of just 35%, prices have trended down across every single district and price softness will continue until excess inventory is absorbed.
I think prices are starting to bottom now and we will see more stability through 2026 but inventory must plateau for this to happen.
Townhouses/Row Houses
Sales: 186 (-24.70% from Jan 2025)
New Listings: 504 (+7.0%)
Inventory: 785 (+33.3%)
Months of Supply: 4.2 (balanced market)
Days on Market: 52 (up from 39 days)
Benchmark Price: $420,800 (-5.4%)
Inventory growth continued as both new listings and overall supply increased. Despite this, benchmark prices remained stable month-over-month, though they are now 5% lower than January 2025.
Short-term price stability was supported by gains in the City Centre and West districts, but year-over-year declines were most pronounced in the NE, East and South East; all areas that are facing intense competition from new-home construction, which continues to weigh on resale values.
Detached Houses
Sales: 657 (-26.3% from Jan 2025)
New Listings: 559 (+1.2%)
Inventory: 1,753 (+21.1%)
Months of Supply: 2.7 (seller’s market)
Days on Market: 48 (up from 37 days)
Benchmark Price: $724,000 (-3.6%)
The detached market remains the most stable and conditions remain relatively balanced.
The January benchmark price was slightly lower than December and over 3% lower than January 2025. Prices trended downward through the second half of last year, and that softness carried into January.
Price performance varied across the city with price declines ranging from less than 1% in the West district to over 6% in the North East.
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!)