Calgary Housing Market Continues Downward Trend into New Year
Calgary's resale real estate market has extended its decline into the new year, marking eight consecutive months of falling sales and prices as supply continues to rise. According to the latest statistics from the Calgary Real Estate Board (CREB), January saw a significant shift in market dynamics that continues to favor buyers in several housing segments.
January Statistics Reveal Significant Market Shifts
The numbers for January paint a clear picture of a cooling market. Home sales fell nearly 15 percent compared to the same month last year, while inventory levels surged by almost 21 percent. This combination of decreasing demand and increasing supply has created what analysts describe as a buyer's market in several housing categories.
The aggregate benchmark price for a home in Calgary dropped nearly five percent year-over-year to reach $554,400 in January. This represents a continuation of the price declines that began in mid-2025 and shows no immediate signs of reversal.
Apartment Segment Experiences Sharpest Declines
The apartment housing category experienced the most dramatic changes in January. The benchmark price for apartments slid nearly eight percent to $301,200, while resales declined by 26 percent year-over-year. This represents the highest percentage decrease among all housing types, with the exception of semi-detached homes.
"The apartment segment is showing the most significant adjustment," noted market analysts. "With more than five months of supply now available, buyers have considerable negotiating power in this category."
Varied Performance Across Housing Types
While the overall market trend is downward, different housing segments showed varying degrees of impact:
- Single-family detached homes saw sales drop only two percent from the same period last year, with benchmark prices declining three percent to $724,000. This segment remains the most active in the market, with supply inching closer to three months.
- Semi-detached homes experienced a 26 percent decline in sales, yet their benchmark price dropped only about one percent to $667,000 - the smallest price decrease among all segments.
- Row homes saw benchmark prices fall about five percent to $420,800, with sales declining 25 percent.
Supply Levels Reach Highest Point Since 2020
The total housing inventory in Calgary reached 4,391 units in January, representing the highest level since 2020. This nearly 21 percent year-over-year increase in available properties has fundamentally altered the balance between buyers and sellers.
Market conditions now vary significantly by housing type:
- Single-family detached and semi-detached homes remain in balanced market territory with approximately three months of supply
- Row homes have moved into buyer's market conditions with more than four months of supply
- Apartments firmly favor buyers with more than five months of available inventory
Long-Term Trends and Market Outlook
The eight-month decline represents one of the most sustained downturns in Calgary's real estate market in recent years. Analysts point to multiple factors contributing to this trend, including economic uncertainty, rising interest rates, and increased housing construction adding to available inventory.
"The market is undergoing a necessary correction," explained one industry observer. "After several years of rapid price appreciation, we're seeing a return to more sustainable levels that better reflect local economic conditions."
While the current trend favors buyers, particularly in the apartment and row home segments, the single-family detached market remains relatively stable with balanced conditions between supply and demand. Market watchers will be closely monitoring spring sales data to determine whether this downward trend will continue or stabilize as the traditional peak buying season approaches.
