Real Estate Blog

Calgary and Area Housing Market Report – March 17, 2026

The Calgary housing market continues to move toward more balanced conditions as we progress through March. While sales activity remains below last year’s levels, inventory continues to build, giving buyers more choice and gradually easing competitive pressures.

Looking at the monthly comparison, February 2026 recorded 1,527 total sales, down 11.12% from February 2025. New listings came in at 2,766, a slight 2.33% decline year-over-year. Active listings rose significantly to 4,873, up 16.44% compared to last year. The benchmark price sits at $560,500, down 4.40% from $586,300 last February. The median price was $565,000, relatively stable with a small 0.26% decline, while the average price increased to $628,296, up 2.57%. Days on market rose to 42 days from 33, reflecting a slower pace of sales.

For March month-to-date, total sales are at 877 compared to 1,046 at this time last year, a 16.16% decrease. New listings total 1,773, down 18.26% year-over-year. Active listings have increased to 5,292 versus 4,971 last year, a 6.46% gain. The median price is currently $573,000, down 2.05% from $585,000 last year, while the average price has increased slightly to $650,341, up 0.43%. Homes are taking approximately 35 days to sell compared to 30 days last year.

Year-to-date figures show continued softening in activity. Total sales for 2026 sit at 3,638 compared to 4,213 last year, down 13.65%. New listings are also lower at 7,327, a 7.23% decline. The median price year-to-date is $565,000 compared to $575,000 last year, a decrease of 1.74%. The average price has increased to $630,064, up 1.85% from $618,620. Days on market have risen to 44 days versus 35 last year, indicating more time required to complete transactions.

Examining the most recent weekly data from March 10–16, 2026, there were 435 sales compared to 527 during the same week in 2025, a decline of 17.46%. New listings totaled 781 versus 1,010 last year, down 22.67%. Active listings increased to 5,292 compared to 4,971, up 6.46%. The median price averaged $570,000, down 2.56% from $585,000 last year. The average price came in at $651,610, up 1.53% from $641,807. Days on market averaged 32 days compared to 28 days last year.

From an economic perspective, newly released Canadian inflation data shows price pressures remain persistent, with shelter and energy costs continuing to be major contributors. This reinforces expectations that the Bank of Canada may hold interest rates at elevated levels longer than previously anticipated, which continues to impact borrowing costs and housing affordability.

Energy markets remain a key driver for Alberta’s economy, and volatility has intensified further this week. Oil prices have continued to trade at elevated levels, holding near the $115–$120 per barrel range amid ongoing geopolitical tensions and supply concerns. This strength in oil supports Alberta’s economic outlook through increased investment activity, stronger government revenues, and improved employment conditions, all of which can help underpin housing demand.

Financial markets are increasingly sensitive to incoming inflation data and central bank guidance. Bond yields have remained elevated, keeping mortgage rates relatively high and limiting some buyer activity. However, strong population growth in Alberta, combined with interprovincial migration trends, continues to provide underlying support for housing demand despite tighter financial conditions.

Overall, Calgary’s housing market is clearly transitioning away from the extremely tight conditions of recent years toward a more balanced environment. Increased supply and slower sales are giving buyers more negotiating power, while prices are showing modest downward pressure in some segments but remain relatively stable overall. If these trends persist, the spring market is expected to be more measured and sustainable compared to the rapid pace seen in previous cycles.