Calgary Real Estate Market Update: May 2026
If you bought Calgary real estate in the last few years, the latest market report is a check-up. The Calgary Real Estate Board's May 2026 numbers tell you what your equity is doing, whether your rental is still competitive, and how quickly you could get out if you needed to.
And the answer depends almost entirely on one thing: what you own.
The headline you actually care about: it's not one market anymore
The citywide benchmark price came in at $570,500 - up from January's $554,400 and higher than April, but still 3% below last May. On its own, that number is close to useless for an owner, because it averages two markets moving in opposite directions.
Strip out seasonality and prices have been essentially flat citywide. But that "flat" is detached homes climbing while apartment condos slide, canceling each other out. If you own one or the other, the average isn't your reality. So forget the headline and find your segment.
If you own a Detached or Semi-Detached home: you're sitting comfortably
This is the strong end of the market, and as an owner you benefit twice: your equity is holding, and your exit options are wide open.
The detached benchmark rose from $724,000 in January to $747,800 in May. Supply is genuinely tight: 2.5 months, with inventory actually down 3% from a year ago. That matters for two reasons. First, tight supply supports your price. Second, it means liquidity because if you decided to sell, you'd be doing it into a balanced-to-firm market rather than dumping into a glut.
Semi-detached looks similar: a benchmark of $691,100 (up from $667,000 in January, just 1% off last year) and under 3 months of supply. Owners in the North West and West districts saw fresh record-high semi-detached prices.
What to do with this: Nothing urgent but recognize the optionality you're holding. If part of your longer-term plan involves selling or refinancing, a firm detached market with tight supply is a favorable window, and those windows don't stay open forever. If you've been thinking about pulling equity to redeploy, current values give you room to do it.
If you own an Condo: this is the report to read twice
Here's where owners need to pay real attention. The apartment segment is in a clear buyer's market, and that pressures you on three fronts at once: your value, your tenant, and your exit.
Your value. The apartment benchmark fell to $300,400 (down 9% from a year ago and just below where it started the year). If you bought near the recent peak, some of your paper equity has quietly eroded. The declines are steepest in the North East, North, and East districts (double digits), and mildest in the North West (about 6%). The silver lining is that prices have been remarkably stable throughout 2026 so far.
Your tenant. The reason prices are falling is a wave of new construction and rental supply flooding the market. That same supply is competing for your renter. Expect more pressure on what you can charge and longer stretches between tenants. If your unit becomes empty, be aggressive on your asking price because it doesn’t make sense to keep your unit empty for 2-3 months chasing an extra $100/mo in rent.
Your exit. Condo months of supply has pushed past 5, against just 403 sales for 961 new listings (a 42% sales-to-new-listings ratio). In plain terms: if you list, you're competing with a lot of inventory and few buyers, so a sale could take time and require a more aggressive price. Liquidity is the hidden risk here, not just price.
What to do with this: Don't panic-sell into a buyer's market - that's how you lock in the loss. But do get clear-eyed. Contact me to pull a current comparable valuation so you know your real equity position, not the one in your head from 2022. Re-run your cash flow on conservative rent and vacancy assumptions. If the unit is bleeding and your conviction is gone, understand that exiting will take patience and pricing discipline. If it cash-flows and you can ride it, holding through the supply wave is a defensible call - this is what I’m doing with my Calgary Condos because conditions will improve, it’s just going to take a little bit more time.
If you own Townhomes/Row: you're in the middle
Townhomes sit between the two extremes. The benchmark is $422,300, up from earlier in the year but still more than 6% below last May, with just over 3 months of supply and year-to-date sales down 16%. The sharpest declines are in the North East and East (down more than 10%), while the West held up best (down about 4%).
Townhomes owners aren't facing the condo squeeze, but you're not enjoying the detached tailwind either. Watch your neighbourhood closely, and treat your rent assumptions with the same caution as condo owners if you're in the softer areas.
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: 403 (-30.4% from May 2025)
New Listings: 961 (-21.9%)
Inventory: 2,070 (-0.8%)
Months of Supply: 5.1 (seller’s market)
Days on Market: 46 (up from 41 days)
Benchmark Price: $300,400 (-10.4%)
Townhomes/Row Houses
Sales: 350 (-23.6% from May 2025)
New Listings: 695 (-9.0%)
Inventory: 1,173 (+5.1%)
Months of Supply: 3.4 (balanced market)
Days on Market: 38 (up from 33 days)
Benchmark Price: $422,300 (-6.9%)
Detached Houses
Sales: 1,192 (-6.5% from May 2025)
New Listings: 2,195 (-9.3%)
Inventory: 2,916 (-2.6%)
Months of Supply: 2.4 (seller’s market)
Days on Market: 28 (unchanged from 28 days)
Benchmark Price: $747,800 (-2.8% but +3.3% YTD!)
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!)