The Calgary real estate market delivered a few surprises in May, and if you've only been looking at the headlines, you might not be seeing the full picture.

At first glance, the numbers suggest the market has slowed down. Total sales were down 15.5% compared to last year, and year-to-date sales are running about 12% behind 2025. But when we dig deeper into the data, a much different story begins to emerge.

The reality is that not all segments of the market are performing the same way. While apartment-style condominiums continue to face challenges, detached and semi-detached homes remain remarkably resilient.

The Overall Market: Better Than the Headlines Suggest

One of the most encouraging statistics from May was the decline in new listings.

New listings were down 12.7% year over year, helping prevent inventory levels from growing too quickly. Inventory itself remained relatively stable, sitting just slightly below last year's levels.

Even with slower sales activity, sellers are still achieving strong results. The average sale-to-list price ratio remains at 98.27%, showing that well-priced properties are continuing to attract buyers.

The benchmark price for Calgary sits at approximately $570,000, down 3% from last year. However, it's important to understand that this number includes every property type, and condominium weakness is having a significant impact on the overall average.

This is why looking at individual market segments is so important.

Detached Homes Continue to Lead the Market

Detached homes remain the strongest segment in Calgary real estate.

The detached market posted an absorption rate of 40.88%, placing it firmly in balanced market territory. In practical terms, nearly 41% of all detached homes listed during the month successfully sold.

The benchmark price for detached homes reached $747,800, up slightly from April and down only 2.4% compared to May of last year.

A total of 2,916 detached homes were listed, with 1,192 sales completed during the month. Properties averaged just 28 days on market.

One of the biggest reasons detached homes fail to sell right now isn't lack of demand, it's overpricing.

Today's buyers remain active, but they're informed. Proper pricing has become one of the most important parts of a successful marketing strategy.

Where Buyer Demand Is Strongest

One of the most interesting trends continues to be Calgary's price distribution.

The hottest segment of the detached market remains homes priced between $600,000 and $700,000. Nearly one-quarter of all detached home sales occur within this range.

The $700,000 to $800,000 category continues to gain momentum and may eventually become Calgary's most active price range as home values continue to gradually rise.

Luxury homes are also performing exceptionally well.

Properties priced between $1 million and $1.5 million accounted for nearly 10% of the detached market, with more than 460 luxury home sales recorded so far this year.

That level of activity demonstrates the continued strength and confidence buyers have in Calgary's long-term future.

Semi-Detached Homes Show Impressive Stability

Semi-detached homes continue to offer one of the best value propositions in Calgary.

The absorption rate sits at 36.59%, another indicator of a healthy balanced market.

Benchmark pricing reached $691,100 in May, up slightly from April and down less than 1% compared to last year.

Of the 593 semi-detached homes listed, 217 sold, with an average market time of just 36 days.

The strongest demand remains concentrated in the $500,000 to $600,000 range, giving buyers an opportunity to enter the market at a lower price point while still enjoying many of the benefits of detached home ownership.

We're also seeing continued demand for high-end inner-city semi-detached properties, especially in walkable communities where buyers want urban convenience without sacrificing living space.

Row Houses: Opportunity for Buyers

The row house market has softened compared to recent years.

An increase in new construction inventory has shifted this segment into a mild buyer's market. Builders responded aggressively to post-pandemic demand, and we're now seeing the effects of increased supply.

The benchmark price currently sits at $422,300, down 6.4% from last year.

More than 1,700 row houses were listed in May, while only 350 sold. As inventory builds, sellers and builders become more motivated, creating opportunities for buyers.

The sweet spot remains between $400,000 and $500,000, where demand is strongest.

For first-time buyers, young families, downsizers, or investors, this segment continues to offer excellent affordability and long-term value potential.

Condominiums Face Headwinds

The most challenging segment of the market remains apartment-style condominiums.

The absorption rate dropped to just 19.5%, placing condos firmly in buyer's market territory.

Benchmark pricing sits at approximately $300,400, down 9% from last year.

More than 2,000 condos were listed in May, while only about 400 sold. Increased supply combined with softer demand has placed downward pressure on pricing across many buildings.

That doesn't mean every condo is struggling.

Unique units with desirable locations, exceptional layouts, or limited competition continue to perform well. However, owners of more typical units may face increased competition and longer selling timelines.

The strongest buyer demand remains concentrated in the $200,000 to $300,000 range, which still represents remarkable affordability compared to many major Canadian cities.

Why Calgary's Future Still Looks Bright

Despite challenges in certain segments, the broader outlook for Calgary remains extremely positive.

Alberta continues to lead the country in net migration. People are moving here because of affordability, economic opportunity, and quality of life.

Calgary consistently ranks among the most desirable cities in Canada, and it's easy to understand why. Few major metropolitan areas offer the combination of career opportunities, relative affordability, and immediate access to world-class recreation that Calgary provides.

As someone who works in this market every day, I continue to see strong confidence among buyers, particularly in the detached and semi-detached sectors.

My Prediction for the Months Ahead

Looking ahead to the rest of 2026, I expect:

• Continued strength in detached homes
• Continued stability in semi-detached properties
• Gradual improvement in the row house segment
• Ongoing challenges in the condominium market
• Strong buyer demand fueled by migration and affordability

If you're considering purchasing a detached or semi-detached home, I believe now is an excellent time to start looking.

People often ask me when the best time to buy is.

My answer never changes.

The best time was five years ago.

The second-best time is today.

If you'd like advice on buying, selling, or understanding how these market trends affect your specific situation, feel free to reach out. I'd be happy to help you navigate the market and make sense of what these numbers mean for you.
Rob Vanovermeire
📞 587-328-7524