Condominiums and row homes made up more than half of available listings.
“Slowing migration levels are coming at a time when supply for apartment-style homes is rising. Calgary reported record high starts last year, mostly due to gains in apartment starts where there are nearly 18,000 units currently under construction. While a large share of the units is targeted for rental, this also impacts condo ownership markets,” said Ann‑Marie Lurie, CREB’s chief economist.
“Meanwhile, on the opposite end of the spectrum, the detached market remains relatively balanced in the higher price ranges and continues to struggle with limited supply for homes priced below $700,000.”
Detached market stayed tight as condos softened
Detached sales and new listings in February were roughly in line with a year earlier, producing a sales‑to‑new‑listings ratio of 58% and keeping months of supply just under three.
The unadjusted detached benchmark reached $734,300, up slightly from January but still about 3% below last year’s level, with the tightest conditions in the West district and lingering excess supply in the North East.