CALGARY –The Calgary housing market experienced a notable slowdown in January 2026, with home sales falling 14.8% compared to the previous year. According to the Calgary Real Estate Board (CREB), only 1,234 units were sold during the month. This decline was accompanied by a shift in supply; while new listings dipped slightly by 3.8% to 2,785 units, the total inventory available on the market surged by 20.6%. With 4,391 homes currently for sale, the city is seeing its highest January inventory levels since 2020, signaling a move toward more balanced market conditions.
The increase in available options has led to a cooling of property prices across the board. The city’s residential benchmark price dropped 4.7% year-over-year, settling at $554,400. High-density housing segments saw the most significant price adjustments, with apartment prices falling 7.7% and row-style homes decreasing by 5.2%. Detached and semi-detached homes also saw declines of 3.4% and 1.1%, respectively, compared to January 2025.
Industry experts suggest that the reduced sense of urgency among buyers is a primary driver of these trends. Ann-Marie Lurie, CREB’s Chief Economist, noted that potential buyers—particularly those interested in high-density homes—were more hesitant to enter the market given the increased supply choice. This shift suggests that the aggressive “seller’s market” of recent years is beginning to stabilize, offering more negotiating power and variety to prospective homeowners.
