Home sales in Calgary declined in March as a pullback in apartment-style demand and rising supply weighed on overall activity, according to the Calgary Real Estate Board.
A total of 1,881 homes changed hands during the month, down about 13% from a year earlier and below long-term trends for March. The slowdown was driven largely by softer condo sales, as increased inventory and slower migration spread demand across a wider pool of available units.
The city’s benchmark home price was $565,600, up nearly one per cent from February but down 4.2% compared with March 2025.
“When considering total residential housing statistics, conditions appear to be relatively balanced,” said chief economist Ann-Marie Lurie, noting that sales, new listings, inventory and prices all increased on a monthly basis heading into the spring market.
Market conditions diverge by segment
Detached homes continue to show the tightest conditions, with limited supply in several districts supporting relatively stable pricing. The detached benchmark price reached $741,300 in March, down 3.3% from last year’s peak but still showing resilience in areas with constrained inventory.
By contrast, the apartment condominium segment is facing mounting pressure. Inventory levels climbed to 1,774 units—near record highs for the month—while sales remained subdued. That pushed months of supply close to five, firmly into buyer’s market territory.
As a result, condo prices have been under sustained downward pressure. The benchmark apartment price was $300,300 in March, down 9% year-over-year.
Row housing is also seeing softer conditions, with inventory rising well above historical norms and prices down 6% annually. Semi-detached homes, meanwhile, remain relatively balanced, with prices only modestly below last year’s levels.
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Last modified: April 1, 2026