Calgary’s housing market continued to cool in August, with both sales activity and new listings trending below 2025 levels. The market recorded 1,660 residential sales, a 16% decline year over year, while new listings fell nearly 10% to 3,141 units.
Despite the overall slowdown, activity was stronger in the higher-priced segment. Sales of homes priced above $1 million increased compared with last year, particularly for detached and semi-detached properties. This growth reflects improved supply at the upper end of the market, along with continued confidence among some buyers.
At the same time, activity in lower price ranges remained subdued. More favourable rental conditions are reducing the urgency for some renters to transition into homeownership, particularly in the apartment-style segment.
Calgary Market Overview
Calgary’s total residential inventory eased in August to 6,509 units, but the slower pace of sales pushed the overall market to nearly four months of supply.
Market conditions varied significantly by property type:
- Detached homes: Just over three months of supply
- Semi-detached homes: More than three months of supply
- Row homes: Nearly four months of supply
- Apartment condominiums: Nearly six months of supply
The total residential benchmark price was $569,800, similar to July and approximately 1% below August 2025.
Property-Type Highlights
Detached Homes
Detached-home sales declined 12% year over year to 875 units, as sales below $1 million continued to ease. New listings also declined, reaching 1,635 units.
The market remains relatively balanced overall, although conditions vary by location. Supply remains below three months in the North West, West, South, and South East districts, while the North and North East have more than four months of supply.
The detached benchmark price was $744,300, virtually unchanged from July and down approximately 1% from last year. Prices were strongest in the West and City Centre districts, while the North East recorded the largest decline at more than 6%.
Semi-Detached Homes
Year-to-date semi-detached sales reached 1,516 units, more than 2% below last year’s level. August sales eased, while new listings did not decline at the same pace. As a result, the sales-to-new-listings ratio fell to 56%.
Inventory was nearly 5% higher than last year, pushing the market above three months of supply for the first time since January. Conditions remain relatively balanced, however, and prices have remained stable.
The benchmark price was $690,500, similar to July and nearly 1% higher than August 2025. Gains in the City Centre, North West, and West districts helped offset declines elsewhere.
Row Homes
Row-home sales continued to decline, contributing to a 15% year-to-date decrease. Additional new-home supply and increased rental availability have contributed to weaker resale demand.
The decline in new listings has helped prevent further inventory growth, keeping the market near four months of supply.
Prices declined across all districts. The benchmark price was $415,200, down nearly 1% from July and approximately 5% below last year’s level. The largest decline occurred in the North East, where prices fell by more than 12%.
Apartment Condominiums
Apartment condominiums remain Calgary’s most oversupplied housing segment, with nearly six months of resale supply.
Sales were down 26% year to date, as increased rental availability continued to weigh on demand from first-time buyers and investors. Although new listings have also declined, supply remains high relative to demand.
The apartment benchmark price was 295,400,nearly1341,300.
Regional Market Highlights
Airdrie
Airdrie sales declined 13% year to date, while new listings were down 7%. Although inventory remained above last year’s levels for much of the year, the recent decline in new listings has helped stabilize conditions and keep the market below four months of supply.
The total residential benchmark price was $508,800, down 1% from July and more than 4% below last year. Apartment-style homes experienced the steepest price declines.
Cochrane
Cochrane sales improved in August, contributing to a year-to-date increase of more than 5%, with much of the growth driven by semi-detached homes.
There were 148 new listings and 94 sales, pushing the sales-to-new-listings ratio above 60%. Inventory edged lower, bringing the market back to just over three months of supply.
Despite the improvement in sales, the benchmark price declined nearly 1% from July and was 2% below last year’s level.
Okotoks
Okotoks continued to experience limited supply, with the sales-to-new-listings ratio remaining high at 81%. Inventory declined during the month, keeping the market relatively tight at just over two months of supply.
The total residential benchmark price was $608,400, down more than 1% from July and nearly 2% below August 2025.
Chestermere
Chestermere continued to see sales decline faster than new listings. The sales-to-new-listings ratio fell below 30%, contributing to elevated inventory levels.
With slower sales and more available supply, months of supply reached nine months in August. This imbalance continued to put downward pressure on prices, which were more than 1% below last year’s level.
What This Means for Buyers and Sellers
Calgary’s market is becoming increasingly divided by property type and price range. Detached and semi-detached homes remain relatively balanced, while row homes and especially apartment condominiums are experiencing higher supply and greater price pressure.
For buyers, the increased supply—particularly at higher price points and in the apartment segment—may create more choice and negotiating power. Sellers should be prepared for longer selling timelines and ensure their pricing reflects current market conditions.
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