Calgary Housing Market Shows Clear Divergence Between Detached Homes and Condominiums
Market conditions in Calgary's housing sector are displaying a pronounced split, with detached homes experiencing tightening supply while apartment-style condominiums increasingly favor buyers, according to the latest data from the Calgary Real Estate Board (CREB). The March 2026 sales report reveals that while overall residential statistics might suggest a balanced market, deeper analysis uncovers significant variations across different housing types.
Detached Homes Face Supply Constraints and Price Pressure
Those shopping for detached homes in Calgary encountered more challenging conditions last month compared to buyers interested in other housing categories. The sales-to-new-listings ratio for detached properties reached 61 percent in March, with inventories remaining stable compared to March 2025 but below the ten-year average trend. This supply constraint is creating upward momentum in pricing for detached homes across most parts of the city.
The detached benchmark price stood at $741,300 in March, representing a three percent decline from last year's peak price of $766,600. However, the tight market conditions are driving some price gains despite this year-over-year decrease. Quarterly benchmark prices for lower-density homes showed modest to stable conditions, indicating relative resilience in this segment of the market.
Apartment Condominiums Offer Buyer-Friendly Conditions
In stark contrast to the detached home market, apartment-style condominiums are experiencing conditions that increasingly favor buyers. The supply of apartment condos in Calgary reached levels last month approaching those seen during the 2008 global economic slowdown, according to CREB's analysis. This substantial inventory growth, combined with a sharp pullback in sales relative to new listings, has contributed to rising resale inventories in the condo sector.
The monthly benchmark price for condominiums was $300,300 in March, slightly higher than February's figure but more than nine percent lower than in March 2025. Furthermore, apartment condominium prices fell three percent in the first quarter of 2026 compared to the fourth quarter of 2025, reflecting the downward pressure in this market segment.
Other Housing Categories Show Mixed Performance
The row home market softened in March compared to a year ago, registering a 19 percent drop over the first quarter. Benchmark prices for row homes remained stable month-to-month at $423,900, but rising inventories contributed to prices falling approximately six percent year-over-year.
Semi-detached homes presented a more positive picture, with sales increasing year-over-year for the second consecutive month. These sales levels align with long-term trends amid what CREB describes as a balanced market. Prices for semi-detached homes reached $686,100 in March, slightly higher than in February and only one percent lower than prices in March 2025.
Overall Market Context and Expert Analysis
The unadjusted benchmark price overall for March 2026 was $565,600, almost one percent higher than in February but more than four percent lower compared to the same month a year earlier. CREB Chief Economist Ann-Marie Lurie noted in a written statement that while total residential housing statistics might suggest relatively balanced conditions, the reality is more nuanced.
"When we look deeper, we are seeing a market that ranges from tighter conditions for detached homes to the apartment sector, where conditions tend to favor the buyer," Lurie explained. "As expected, this is supporting upward momentum in detached prices and downward pressure in the apartment condominium sector."
Housing inventory analysis reveals that row and apartment-style units sit above the ten-year average, while detached homes remain below trend. This inventory divergence helps explain the contrasting market conditions between housing types as Calgary moves into the spring market season.
