DETACHED MARKET TIGHTENS WHILE APARTMENTS REMAIN OVERSUPPLIED
City of Calgary, Airdrie, Cochrane & Okotoks - Monthly Stats - March 2 2026
DETACHED
Both sales and new listings in February were similar to levels reported last year. With 736 sales and 1,269 new listings, the sales-to-new listings ratio was 58%. While this did not prevent further inventory gains, months of supply remained relatively balanced at just under three months.
Conditions did vary across the city as the North East district struggled with excess supply, preventing any improvement in monthly prices. Meanwhile, the West district reported the tightest conditions with less than two months of supply.
In February, the unadjusted benchmark price for a detached home was $734,300, over 1% higher than January, but still 3% lower than last year's levels. The only districts to report both month-over-month and year-over-year gains were the City Centre and the West district.
SEMI-DETACHED
Sales improved in February, reaching 175 units. At the same time, new listings rose to 253 units, causing the sales-to-new-listings ratio to rise to 69% and preventing any improvement in inventory levels compared to January. This caused the months of supply to drop to 2.4 months, the lowest out of the four property types.
While this is a smaller segment of the market, the tighter conditions did result in slightly higher monthly price gains.
As of February, the unadjusted benchmark price was $682,200, over 2% higher than January and comparable to levels reported last year.
Year-over-year price changes varied by district, with gains in the City Centre, North West and West offsetting declines in the North East, North, South, South East and East.
In addition to typical seasonal factors, tighter conditions at the start of the year are helping support monthly price gains in most districts.
ROW/TOWNHOME
Sales picked up in February compared to January, reaching 270 units. Meanwhile, after January's surge in new listings, levels slowed to 491 units, helping bring the sales-to-new-listings ratio into more balanced territory at 55%. While inventories did rise, the monthly gains in sales helped reduce the months of supply from over four months in January to just over three months in February.
The unadjusted benchmark price rose to $423,600 in February, in line with typical seasonal expectations. While prices are still 5% lower than last February, there is significant variation between districts.
The steepest year-over-year declines have occurred in the North East and East districts at over 10%. Meanwhile, prices in both the West and City Centre are only slightly lower than levels reported last February.
APARTMENT
Despite a pullback in new listings in February, with 753 new listings and 345 sales, the sales-to-new-listings ratio remained low at 46%, contributing to further inventory gains. February reported 1,580 units in inventory, high enough to keep the months of supply well over 4 months.
The persistently higher supply levels continued to weigh on prices in February, as the monthly benchmark price dropped to $298,600, nearly 1% below January and over 9% lower than prices reported last February.
Conditions do vary across the city. After the first two months of the year, the months of supply have ranged from over 11 months in the North East to below 4 months in the South district. The higher supply levels are weighing on prices across all districts.
The largest year-over-year price adjustments have occurred in the North East, East and South East districts, which have seen declines surpassing 10%.
REGIONAL MARKET FACTS
AIRDRIE
Sales and new listings totaled 122 and 236 units, respectively, in February, causing the sales to-new-listings ratio to rise to 52%. At the same time, inventories increased slightly over the previous month and last year, pushing above long-term trends. However, with just over 3 months' supply, conditions are considered relatively balanced.
The unadjusted benchmark price was $512,200 in February, similar to the previous month, but still 5% lower than last year's levels.
Increased competition from the new home sector, along with increased supply choice in both Calgary and other surrounding areas, has contributed to some of the price adjustments that have occurred in Airdrie.
COCHRANE
The gains in sales in February helped offset the new listings in the market. With 91 sales and 154 new listings, the sales-to-new-listings ratio rose to 59%, preventing any significant shift in inventory levels. This caused the market to shift toward more balanced conditions with 3 months of supply.
As of February, the total residential benchmark price was $553,500, slightly higher than January, but due to pullbacks mostly in the third quarter of 2025, prices remain 3% lower than last February.
OKOTOKS
Sales in February slowed compared to new listings that came onto the market, causing the sales-to-new-listings ratio to fall below 60%. This helped support some inventory gains in Okotoks for the month. However, inventory levels remained well below long-term trends and with under 3 months of supply, conditions remain relatively tight.
The tighter conditions have once again contributed to some monthly gains in prices beyond what’s typically seen early in the year. As of February, the unadjusted benchmark price was $612,300, a 2% gain over January and similar to levels reported last year.