SLOW START FOR HIGH-DENSITY HOMES
City of Calgary Monthly Stats - February 2 2026
DETACHED
There were 657 sales and 1,243 new listings in January, comparable to levels reported last year. However, new listings did rise over December levels, causing inventories to reach 1,753 units, just shy of long-term averages for the month.
With less than three months of supply and a sales-to-new listings ratio of 53%, conditions remained relatively balanced in the detached market. The January unadjusted benchmark price was $724,000, slightly lower than the previous month and over 3% lower than last January, as prices trended down over the second half of 2025.
Price movements varied throughout the city, with year-over-year declines ranging from less than 1% in the West district to over 6% lower in the North East. While unadjusted prices did ease over December, this was mostly due to pullbacks in the City Centre and North West districts.
SEMI-DETACHED
There were 118 sales in January and 251 new listings, representing 10% of the market activity in the city. While both sales and new listings improved over December, the growth in new listings was higher, causing the sales-to-new-listings ratio to ease to 47%.
Inventory levels improved but conditions remained relatively balanced, with three and a half months of supply. Rising supply, which started in the latter part of 2025 and continues into 2026, is creating more price stability.
As of January, the benchmark price was $667,000, similar to last month and only 1% lower than last January. Year-over-year prices in both the North West and West districts remain higher than last year but are lower in every other district.
ROW/TOWNHOMES
There were 186 sales in January, down by nearly 25% compared to last year. Meanwhile, supply continued to rise both in terms of new listings and inventory growth, causing the months of supply to push above four months.
Despite the added supply, the unadjusted benchmark price remained similar to December's levels, but was 5% lower than last January. The month-over-month stability was due to gains in the City Centre and West districts.
Year-over-year price adjustments have been the highest in the North East and East districts, followed by the North and South East districts, which have faced significant competition from the new home market.
APARTMENT
Apartment-style units continue to struggle with supply. New listings reached 787 units, which is not as high as last year but a significant jump over December and much higher than the 273 sales reported in January, pushing the sales-to-new listings ratio down to 35%.
This drove further gains in inventory, which reached 1,435 units, the highest levels ever reported for January. With over five months of supply in January, it is not surprising that prices trended down further.
The unadjusted benchmark price was $301,200, nearly 1% lower than the previous month and 8% lower than last January. Prices have been falling across every district, with year-over-year declines ranging from 13% in the North East to six % in the City Centre.
REGIONAL MARKET FACTS
AIRDRIE
While down from last January, sales activity remained relatively strong. With 106 sales and 227 new listings, the sales-to-new-listings ratio dropped to 47%, slightly lower than typical for January. This resulted in some further gains in inventory levels, keeping the months of supply just above three months and in line with long-term trends.
The unadjusted benchmark price was $513,900, reporting a modest monthly gain consistent with seasonal trends. However, thanks to pullbacks last year, prices remain 5% lower than levels reported in January 2025.
COCHRANE
New listings rose to 149 units, the highest level ever reported in January. With only 54 sales, the sales-to-new-listings ratio dropped to 36%, causing inventories to rise and keeping months of supply at five months.
After several months of slightly higher months of supply, prices have trended down on a month-over-month basis for three consecutive months.
As of January, the unadjusted benchmark price was $550,800, nearly 2% lower than both December and the start of last year.
OKOTOKS
Okotoks continues to struggle with lower inventory levels compared to long-term trends, limiting sales activity. January reported 33 sales and 52 new listings, resulting in a sales-to-new listings ratio of 63% and keeping inventory levels low at 79 units.
The months of supply remained just above two months, and prices remained relatively unchanged compared with the previous month.
However, thanks to some price adjustments last year, the total residential benchmark price of $599,500 in January was 2% lower than levels reported last year.