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Calgary Market Report · August 2026
Calgary Real Estate Market Update, August 2026
By Ryan Van Spengen, REALTOR® | Karakter Realty, brokered by Grassroots Realty Group
Published September 4, 2026 · Data Source: CREB® August 2026 Statistics, released September 1, 2026
Calgary sold 1,660 homes in August, 16.41% fewer than last August. That is the worst year-over-year sales number of 2026 and it will be the headline everywhere.
Underneath it, one part of the market grew. Sales of homes over $1,000,000 were up against last year, carried by detached and semi-detached properties. Everything below that line fell. CREB's read on why is worth quoting exactly: rental conditions are favourable enough that people who would otherwise be buying their first home are renewing a lease instead.
So the market did not slow uniformly. It slowed at the bottom and held at the top, which is close to the opposite of what most people assume a soft market looks like.
Calgary Snapshot, August 2026
$569,800
Benchmark Price
↓ 1.08% YoY · flat vs July
1,660
Homes Sold
↓ 16.41% vs August 2025
3,141
New Listings
↓ 9.66% · 53% sales-to-new-listings
6,509
Inventory
↓ 2.25% YoY · 3.92 months supply
The benchmark held. $569,800 is up $600 from July and 1.08% below last August, which is the smallest annual decline since March. Prices are not what moved in August. Volume is.
Months of supply rose to 3.92 even though inventory fell 2.25% year-over-year, because sales fell much faster than listings did. Days on market reached 41, and the sale-to-list ratio slipped to 97.53%. Both have deteriorated for five straight months. Year to date, 14,649 sales against 16,478 last year, down 11.10%.
The Four Markets Inside Calgary's Market
Balanced
Detached Homes
$744,300
↑ 0.05% MoM · ↓ 1.09% YoY · 3.39 months supply
875 sales, down 11.79%, with gains above $1,000,000 unable to offset losses below it. New listings fell to 1,635 and inventory eased to 2,969, but months of supply still rose to 3.39. The benchmark barely moved, up $400 from July and 1.09% below last August. Detached sold in 35 days at 97.91% of list. District balance is the whole story: under three months in the North West, West, South and South East, above four in the North and North East.
Balanced
Semi-Detached Homes
$690,500
↑ 0.98% YoY · flat MoM · 3.30 months supply
The only Calgary property type above last year's price. 168 sales, down 18.45%, but year-to-date sales of 1,516 are off just 2.57%. The sales-to-new-listings ratio fell to 55.63% and months of supply pushed above three for the first time since January. Gains in the City Centre at $965,700, North West at $680,600 and West at $824,000 offset declines elsewhere. The South East ran at 1.83 months of supply, the tightest sub-market in the city.
Oversupplied
Row / Townhomes
$415,200
↓ 0.79% MoM · ↓ 5.44% YoY · 3.85 months supply
284 sales, with year-to-date volume down 15.35%. New home supply and more available rentals have both taken buyers out of this segment. The pullback in new listings has at least stopped inventory from growing, and months of supply held near four for a second month. Prices eased in every district, from 12.22% in the North East to 1.20% in the North West. Row homes took 47 days to sell, the second slowest in the city.
Buyer's Market
Apartment Condos
$295,400
↓ 0.74% MoM · ↓ 8.18% YoY · 5.68 months supply
333 sales, down 25.84%, with year-to-date volume off 25.66%. Inventory of 1,891 units is easing, but not fast enough to shift conditions. At 5.68 months of supply this is the most oversupplied segment in Calgary by a wide margin, and the North East sits at 9.69 months. The benchmark is 8.18% below last August and nearly 13% below the peak of $341,300 set in August 2024. Apartments took 52 days to sell at 96.37% of list.
"While sales growth in the upper end of the market was possible thanks to improved supply choice, it also reflects longer-term confidence in our market, as some buyers are not shying away from taking advantage of the available supply. Meanwhile, we have not seen the same pickup in activity in the lower price ranges, as favourable rental conditions are slowing the transition to ownership.", Ann-Marie Lurie, CREB® Chief Economist, September 1 2026
What's Driving the Calgary Market in August 2026
Rent is now competing with ownership, and winning
This is the single most important shift in the August release. For four years Calgary rents rose fast enough that buying looked cheap by comparison, and that pushed first-time buyers into condos and townhouses. The apartment construction boom fixed the rental shortage, rents stopped rising, and the arithmetic reversed. Apartment sales are down 25.66% year to date and row sales down 15.35%, while apartment inventory sits at 5.68 months of supply. Those are the same tenants who would have been buyers in 2023.
The top of the market found the supply it was waiting for
Sales above $1,000,000 grew year-over-year in a month when total sales fell 16.41%. That is not a coincidence of taste. Supply growth has been concentrated in the upper price ranges, and buyers who had nothing to choose from in 2023 and 2024 finally have options. City Centre detached at $995,700 is up 2.24% year-over-year and West detached at $992,500 is up 2.78%. Those are the two most expensive detached districts in Calgary and they are the two that gained.
Balanced is not the same as stable
At 3.92 months, citywide supply is still inside a balanced range. But every underlying indicator has drifted one direction for five months: days on market from 33 in June to 41 in August, sale-to-list from 98.02% to 97.53%, months of supply from 3.09 to 3.92. Semi-detached crossed above three months of supply for the first time since January. Nothing here is dramatic on its own. The direction is consistent, and sellers pricing to a spring 2026 comparable are pricing to a market that no longer exists.
Detached is holding on district-level scarcity, not citywide demand
The detached benchmark moved $400 in August. That stability rests on four districts: North West at 2.62 months, West at 2.34, South at 2.97 and South East at 2.99. Between them they took 536 of the month's 875 detached sales. Meanwhile the North East ran 5.36 months of supply with a 37.11% sales-to-new-listings ratio, and the North ran 4.10 months. If the tight four loosen through the autumn, the citywide detached number moves with them.
Same City, Eight Different Markets
Detached, every district, August 2026, sorted by supply.
Swipe for more columns →
District
Sales
New Listings
Inventory
Months Supply
Benchmark
YoY
West
93
151
218
2.34
$992,500
+2.78%
North West
130
196
341
2.62
$781,500
−1.30%
South
178
321
529
2.97
$715,200
−1.69%
South East
135
231
404
2.99
$703,600
−1.70%
East
33
62
122
3.70
$489,500
−3.11%
City Centre
98
182
376
3.84
$995,700
+2.24%
North
112
232
459
4.10
$647,400
−3.89%
North East
95
256
509
5.36
$560,500
−6.44%
Total City
875
1,635
2,969
3.39
$744,300
−1.09%
Detached homes, City of Calgary by district. Source: CREB® August 2026 City of Calgary Monthly Statistics Package.
The City Centre is the interesting line. It has 3.84 months of supply, which is loose, and a benchmark up 2.24% year-over-year, which is strong. Those two facts coexist because inner-city detached is a small, expensive, low-turnover market where a handful of listings swings the ratio without touching the price. Do not read City Centre supply the way you read South East supply.
Apartments, where the supply picture is most extreme.
Swipe for more columns →
District
Sales
Inventory
Months Supply
Benchmark
YoY
West
44
149
3.39
$322,500
−7.78%
North
38
148
3.89
$300,900
−9.31%
South
50
227
4.54
$274,700
−9.55%
North West
34
156
4.59
$283,300
−8.29%
East
10
54
5.40
$211,100
−12.77%
South East
34
195
5.74
$311,600
−7.97%
City Centre
110
834
7.58
$303,500
−7.53%
North East
13
126
9.69
$251,900
−12.11%
Total City
333
1,891
5.68
$295,400
−8.18%
Apartment condominiums, City of Calgary by district. Source: CREB® August 2026 City of Calgary Monthly Statistics Package.
834 of the city's 1,891 apartment listings are in the City Centre, against 110 sales. At 7.58 months of supply, a downtown condo seller is competing with roughly eight other units for every buyer who walks through. That is the number to price against, not the building's 2022 sale history.
What I'm seeing on the ground
August felt slower than the numbers even suggest, and then the last week of the month turned. Two of my listings that had sat through the summer got activity within days of Labour Day weekend as people came back from holidays with a decision already made. That pattern is normal in Calgary. What is not normal is how thin the traffic was in the middle of the month.
The over $1,000,000 activity is real. I sat two showings in Aspen Woods and Britannia in August with buyers who had been watching since spring and finally had three houses to compare instead of one. That is what improved supply choice looks like from the seller's side of the door, and it means presentation and pricing carry more weight than they did in 2024.
If you are planning an autumn listing, the work starts now, not in October. Get the number, get the property ready, and go early into the September and October window before the market thins again in December. 403-998-4274.
Around Calgary: Airdrie, Cochrane, Okotoks, Chestermere
Stabilising
Airdrie
$508,800
↓ 1% MoM · ↓ over 4% YoY · 3.77 months supply
137 sales against 235 new listings, a 58% ratio, with inventory at 517 units. Year-to-date sales are down 13%, met by a 7% pullback in new listings. That rising ratio has finally stopped inventory from growing and kept months of supply below four. Prices are still under pressure from competing markets, with the steeper declines in apartment-style homes.
Balanced
Cochrane
↓ 2% YoY
↓ nearly 1% MoM · 3+ months supply · 60%+ ratio
The one regional market with sales growth: up in August and ahead by over 5% year to date, driven mostly by semi-detached activity. 94 sales against 148 new listings pushed the ratio above 60% and dropped months of supply back to just over three. Prices still eased in the month, which tells you supply choice rather than demand is setting the price here.
Tight
Okotoks
$608,400
↓ over 1% MoM · ↓ nearly 2% YoY · just over 2 months supply
An 81% sales-to-new-listings ratio pulled inventory down again. Okotoks has run below average supply since 2021 and remains the tightest market in the region at just over two months. Prices still eased, because supply choice in competing markets is capping what Okotoks can ask. Low supply is holding the floor, not pushing the ceiling.
Buyer's Market
Chestermere
$697,400
↓ from July · ↓ over 1% YoY · 8.72 months supply
36 sales against 124 new listings dropped the ratio below 30%, and inventory of 314 units pushed months of supply to nearly nine. That is the loosest market anywhere in the Calgary region, and it has been building all year. Chestermere is still growing, but a seller here is competing with roughly nine months of standing inventory and needs to price to that reality.
What This Means If You're Going Through a Life Transition
August closes the summer, and September is the last real selling window of the year in Calgary. Here is how the data lands on each situation.
Settling an estate: August is the month to stop using a 2024 valuation for anything. Apartments are nearly 13% below their August 2024 peak, and a North East condo is down 12.11% in the last year alone. Detached is a different case: most districts are within 2% of last August, and the City Centre and West are up. An executor with a detached property in a tight district has a defensible, stable number to put in front of beneficiaries. An executor with a condo has a number that is still moving, which is exactly why it needs to be documented now and acted on rather than revisited next spring.
Upsizing: The upper end is where the supply arrived, and that is good news for anyone moving up. Buyers over $1,000,000 had real choice in August for the first time in three years. If you are selling a detached home in a tight district and buying a larger one in the City Centre or West, you are selling into scarcity and buying into selection. That is the favourable direction of the trade. If your sell side is a townhouse or condo, the gap has widened again and the plan needs building around the current number rather than the one in your head.
Every transition is different, and the playbook is not off the shelf. If you want to know exactly where your property sits in this market, and what that means for your situation, let's talk.
Frequently Asked Questions, Calgary Real Estate, August 2026
What is the benchmark home price in Calgary in August 2026?
$569,800, essentially flat against July and 1.08% below August 2025 (CREB, September 1 2026 release). By type: detached $744,300, semi-detached $690,500, row $415,200, apartment $295,400.
Why did Calgary sales fall 16% in August 2026?
The decline is concentrated below $1,000,000. Sales above that line grew year-over-year, driven by detached and semi-detached properties, because that is where supply growth has been strongest. Below it, CREB points to favourable rental conditions slowing the transition from renting to ownership. Apartment sales are down 25.66% year to date and row sales 15.35%.
Are Calgary home prices going down?
Modestly, and not evenly. The citywide benchmark is 1.08% below last August, the smallest annual decline since March. Semi-detached is actually up 0.98% year-over-year. Detached is down 1.09%. The real declines are in higher-density housing: row at 5.44% and apartments at 8.18%.
Which Calgary districts are strongest in August 2026?
For detached, the West at $992,500, up 2.78% year-over-year on 2.34 months of supply, and the City Centre at $995,700, up 2.24%. The North West, South and South East are all under three months of supply with declines under 1.7%. The weakest is the North East, down 6.44% on 5.36 months of supply.
How far have Calgary condo prices fallen from peak?
Nearly 13%. The apartment benchmark peaked at $341,300 in August 2024 and sat at $295,400 in August 2026. Months of supply is 5.68 citywide, 7.58 in the City Centre and 9.69 in the North East.
How long does it take to sell a home in Calgary right now?
41 days citywide in August at 97.53% of list. Detached 35 days, semi-detached 40, row 47, apartment 52. Every one of those figures has lengthened each month since spring.
Should I list my Calgary home in September or wait until spring?
If the property is detached in the West, North West, South or South East districts, September. Those districts are under three months of supply and the detached benchmark has moved less than half a per cent since June, so there is no evidence that waiting buys a higher price, and spring brings more competing listings. If the property is a condo or row home, waiting is the more expensive option: both segments have declined every month since spring with a large construction pipeline still finishing.
Who should I call in Calgary for a life-transition sale?
Downsizing and upsizing moves and estate sales need a different structure than a standard transaction, from how the listing agreement is signed to how offers get communicated between parties. As a licensed Calgary REALTOR® with Karakter Realty, brokered by Grassroots Realty Group, that is the work Ryan is set up for. Call or text: 403-998-4274.
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Data sourced from the CREB® August 2026 City of Calgary Monthly Statistics Package and Calgary Region Monthly Statistics Package, released September 1, 2026. Regional figures are total residential benchmark prices as reported by CREB® in the August release. All benchmark prices are unadjusted CREB® composite benchmarks (MLS® HPI), not average or median sold prices. This report is for informational purposes only and does not constitute financial or investment advice. Ryan Van Spengen is a licensed REALTOR® with Karakter Realty, brokered by Grassroots Realty Group. CREB® and REALTOR® are registered trademarks of their respective owners.
