CREB released its July numbers earlier this month, and if you only read the headlines (sales down, prices down), you'd think Calgary is one market moving in one direction. It isn't. The single most important thing in this report is how differently the market is treating detached homes and condos right now.
The big picture: cooler, not cold
Calgary saw 1,904 sales in July, about 9% fewer than the same month last year. But new listings fell further, down 15%, which means supply and demand eased together. The sales-to-new-listings ratio held at 57%, and overall months of supply sits at 3.5. That's the textbook definition of a balanced market: enough choice that buyers can breathe, enough demand that well-priced homes still move.
The total residential benchmark price came in at $569,200, down slightly from June and about 2% below last July. A 2% annual dip after the run-up Calgary has had is a normalization, not a correction.
Detached is holding its ground
Detached homes sold 1,012 times in July, down not even 2% from last year. That is barely a change. Months of supply is under three, tighter than the market overall, and the benchmark sits at $743,900. Location matters more than ever, though: City Centre and West District prices actually improved, while the North East fell nearly 6%. If you own a well-located detached home, this "soft market" barely applies to you.
Condos are where the softness lives
Apartment condo sales are down nearly 26% year-to-date, with almost 2,000 units sitting on the market. The benchmark price of $297,600 is 8% below last year and roughly 13% below the 2024 peak. Row and townhouse prices are down 6% year over year, with the North East and East districts off around 12%.
Why? CREB's chief economist points to several years of heavy construction colliding with a sudden drop in international migration: the renters and first-time buyers who normally absorb higher-density housing. More supply, fewer newcomers, softer prices.
What this means if you're making a move
Buying a condo or townhouse: this is the best negotiating position you've had in years. Thirteen percent below peak with two thousand units to choose from means you can be picky on building quality, condo fees, and price. And you should be.
Selling a detached home: you still have leverage, especially in the city's stronger districts, but pricing precision matters more than it did in 2024. Overpriced listings sit; sharply priced ones still attract competition.
Selling a condo: honesty time. You're competing with 2,000 other units. Presentation and realistic pricing aren't optional, and depending on your situation, holding and renting may beat selling into this segment. It's a conversation worth having before you list.
Numbers are from the CREB July 2026 release. If you want to know what they mean for your specific home or search, that's exactly the kind of question I like. Reach out anytime.