By Ryan Van Spengen, REALTOR® | Karakter Realty, brokered by Grassroots Realty Group
Published June 3, 2026 · Data Source: CREB® May 2026 Statistics, released June 1, 2026
May is the month Calgary's supply story stopped being about apartments alone. Inventory reached 6,752 units, level with last May but 11% above long-term May norms, and the extra supply is concentrated in apartment and row-style homes. Detached inventory went the other way, down 2.57% against both last year and its long-run average.
Calgary Snapshot, May 2026
$570,500
Benchmark Price
↓ 3.03% YoY · ↑ 0.30% MoM
2,162
Homes Sold
↓ 15.51% vs May 2025 · level with April
4,226
New Listings
↓ 12.69% · 51.16% sales-to-new-listings, from 52.87%
6,752
Inventory
Level with May 2025 · 11% above long-term
3.12
Months of Supply
Up from 2.64 in May 2025 · balanced
34
Days on Market
Up from 32 in May 2025 · 98.27% of list
$747,800
Detached Benchmark
↓ 2.41% YoY · ↑ 0.32% MoM
$300,400
Apartment Benchmark
↓ 9.05% YoY · ↓ 0.33% MoM
Sales did the rest of the work. At 2,162, May sales were 15.51% below last year and about level with April, while new listings fell 12.69%. Listings falling was not enough to offset buyers stepping back, so the sales-to-new-listings ratio eased to 51.16% and months of supply rose to 3.12 from 2.64 a year ago. Balanced citywide, and a long way from the 2.64 of twelve months earlier.
Prices split along exactly the line supply drew. The detached benchmark has risen every month since January, from $724,000 to $747,800, and semi-detached from $667,000 to $691,100. Apartment condominiums are the mirror image: $300,400 in May is below where they started the year and 9.05% below last May. Row homes sit between the two at $422,300, up modestly since January but still 6.43% below last May.
"The shift in supply is being felt in the market. More supply choice in the new and rental markets has created a more competitive environment for potential buyers. At the same time, concerns over rising cost of living and slower migration are also weighing on consumers. While this has caused the overall resale market to shift to a balanced state, the supply pressure is having a more prevalent impact for apartment-style units, where conditions are favouring the buyer.", Ann-Marie Lurie, CREB® Chief Economist, June 1 2026
Same City, Eight Different Markets
Detached, every district, May 2026, sorted by supply.
Swipe for more columns →
District
Sales
Inventory
Months Supply
Benchmark
YoY
West
134
237
1.77
$1,005,200
−0.19%
South
278
514
1.85
$721,600
−2.42%
North West
160
321
2.01
$799,000
−1.14%
South East
190
406
2.14
$704,200
−2.98%
City Centre
127
366
2.88
$985,500
−0.74%
North
148
435
2.94
$647,200
−5.05%
East
28
100
3.57
$489,100
−6.78%
North East
125
523
4.18
$563,900
−6.96%
Total City
1,192
2,916
2.45
$747,800
−2.41%
Detached homes, City of Calgary by district. Source: CREB® May 2026 City of Calgary Monthly Statistics Package.
The citywide detached figure of 2.45 months of supply hides a range CREB described plainly: a seller's market in the West district and a buyer's market in the North East, in the same month, in the same property type. West detached ran 1.77 months of supply and held level with last year at $1,005,200. North East detached ran 4.18 months and fell 6.96% to $563,900. That is a 6.8 point spread in annual price change inside one city.
The South at 1.85 months and North West at 2.01 are the other two genuinely tight detached sub-markets, which is why well-prepared listings in Signal Hill, Aspen Woods, Springbank Hill, Edgemont and the Hamptons were moving quickly through the spring while equivalent-sized homes further northeast sat.
Apartments were uniformly soft. Every district declined year-over-year, with double-digit drops in the North East at 13.04%, the East at 13.19%, and the North at 10.37%. The mildest was the North West at 5.89%. City Centre apartments, which carry the largest share of the city's condo inventory, fell 9.49% to $306,000 on 5.42 months of supply.
What This Means for Buyers
If you are buying a detached home in the West, South or North West districts, the market is not going to hand you a discount on a well-priced listing. Those districts ran under 2.1 months of supply in May and detached homes across the city sold in 28 days at 98.87% of list, the tightest of any property type. Know what comparable homes have actually closed for in the last 45 days, not what sellers are asking. Ryan builds a current CMA for every client before they write.
If you are buying an apartment condominium, you have leverage that did not exist a year ago. Citywide supply of 5.14 months, 46 days on market, and a 96.82% sale-to-list ratio all point the same way. It is reasonable to negotiate on price and on conditions. Read the reserve fund study and the last two years of board minutes before you commit; in a market with this much choice, building quality is the thing that separates one unit from the eight others competing with it.
What This Means for Sellers
Detached sellers in the tight districts are in the strongest position available in this market, but the window is narrower than it was. Detached inventory is down 2.57% year-over-year, which supports pricing, and the benchmark has gained every month since January. What has changed is that the citywide benchmark is still 2.41% below last May. Pricing to a spring 2025 comparable will cost you weeks. Price to the last 45 days.
Condo sellers face the harder job. At 5.14 months of supply and 41.94% sales-to-new-listings, listings are arriving faster than they clear. If you must sell in 2026, pricing at or slightly below competing active listings in your own building is the strategy that works. Pricing above the market produces a longer sit and a lower final number than taking the market price early.
What I'm seeing on the ground
May is the month the two-speed market stopped being a theory. I had a detached listing in the southwest go in under two weeks and a condo listing three kilometres away sit for six. Same city, same month, same agent. The mistake I see people make is reading the citywide number and applying it to their own house. The citywide number is down 3%. Your street might be flat and your building might be down 10%. The only figure that matters for your decision is the one for your property type in your district.
Around Calgary: Airdrie, Cochrane, Okotoks
Balanced
Airdrie
$515,000
↓ 5% YoY · 53% sales-to-new-listings · just over 3 months supply
New-home competition and more choice in Calgary are both weighing on prices.
Balanced
Cochrane
$576,400
↓ 1% YoY · up from $550,800 in January · just under 3 months supply
115 sales against 188 new listings, a 61% ratio. The one regional market where sales are running above both last year and long-term trends.
Tight
Okotoks
$618,900
↓ vs April and last May · a little over 2 months supply
72 sales and 121 new listings. Supply remains below long-term trends at a little over two months, but new communities in south Calgary are capping price growth.
What This Means If You're Going Through a Life Transition
Downsizing: May is a strong month to sell the family house. The West ran 1.77 months of detached supply, the South 1.85 and the North West 2.01, and detached homes citywide sold in 28 days at 98.87% of list. The condo you move into has gone the other way: apartments are 9.05% below last May on 5.14 months of supply, and row homes are 6.43% lower. That is room to negotiate on price, possession date and conditions, including a condition on the sale of your house. Use it to buy time for the reserve fund study and two years of board minutes. Possession dates and rent-backs covers the timing.
Estate sales: Executors listing estate properties should price to the market, not to a valuation prepared last year. Detached in most districts is within 3% of last May, which is a defensible position to put in front of beneficiaries. An estate apartment is a different conversation: down 9.05% citywide in a year, and more than 13% in the North East and East districts. That gap lands on the beneficiaries, and it is why the valuation needs to be current.
Upsizing: The condo-to-detached move is harder than it was, not easier. Your condo is 9.05% behind where it was a year ago while the detached home you want is only 2.41% off. That spread widened through the spring. The counter-argument is that detached supply is down 2.57% and the West, South and North West districts are all under 2.1 months, so waiting for your condo to recover risks paying more on the buy side. Bridge financing is available but expensive, so build the bridge-cost math before relying on it as a fallback. Ryan runs both sides of that number before anyone lists.
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, May 2026
What is the Calgary benchmark home price in May 2026?
The Calgary total residential benchmark price in May 2026 was $570,500, up 0.30% from April 2026 and 3.03% below May 2025. Detached benchmarked at $747,800, semi-detached at $691,100, row at $422,300, and apartment condominiums at $300,400. Source: CREB June 1, 2026 release.
How many homes sold in Calgary in May 2026?
Calgary recorded 2,162 residential sales in May 2026, 15.51% below May 2025 and similar to April's level. New listings fell 12.69% to 4,226, but not enough to offset the drop in sales, so the sales-to-new-listings ratio eased to 51.16%. Year to date, Calgary has recorded 8,900 sales against 10,112 in 2025.
What is the months of supply in Calgary in May 2026?
Calgary's total residential months of supply in May 2026 was 3.12, up from 2.64 in May 2025. Conditions varied sharply by property type: detached at 2.45 months, semi-detached at 2.73, row at 3.35, and apartment condominiums at 5.14. Inventory of 6,752 units was level with last May but 11% above long-term May trends.
Is May 2026 a buyer's or seller's market in Calgary?
It depends on property type and district. Citywide, 3.12 months of supply is balanced. Detached in the West district ran at 1.77 months and the South at 1.85, both seller's-market conditions. Apartment condominiums at 5.14 months citywide favour buyers, reaching 7.94 months in the North East. CREB described the detached North East district as a buyer's market and the West district as a seller's market in the same month.
Are Calgary detached home prices still rising in 2026?
Month to month, yes; year over year, no. The detached benchmark rose from $724,000 in January 2026 to $747,800 in May, a gain in each month through the spring. But May 2026 still sits 2.41% below May 2025's $766,300. The West district is the exception, essentially level with last year at $1,005,200, while the North East is down 6.96%.
Know Exactly Where You Stand
A free, no-pressure market analysis for your Calgary home, specific to your property type, district, and situation.
Source: CREB® May 2026. Balanced range in Calgary runs roughly 2.5 to 4 months.
May 2026 by Property Type
Swipe for more columns →
Property Type
May 2025
May 2026
MoM
YoY
Months Supply
Total Residential
$588,300
$570,500
+0.30%
−3.03%
3.12
Detached
$766,300
$747,800
+0.32%
−2.41%
2.45
Semi-Detached
$697,800
$691,100
+0.13%
−0.96%
2.73
Row / Townhome
$451,300
$422,300
−0.14%
−6.43%
3.35
Apartment
$330,300
$300,400
−0.33%
−9.05%
5.14
Source: CREB® May 2026 City of Calgary Monthly Statistics Package. Benchmark prices are CREB's unadjusted composite benchmark (MLS® HPI), not average or median sold prices.
Data sourced from the CREB® May 2026 City of Calgary Monthly Statistics Package and Calgary Region Monthly Statistics Package, released June 1, 2026. 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.
