Calgary Real Estate Report: Calgary Housing: Inventory Surge Hands Buyers New Leverage

THE 3-SECOND BRIEF

• The Pulse: The Grind (Balanced Market)
• For Buyers: Leverage is shifting your way—more choice, less panic bidding, especially in condos and townhomes.
• For Sellers: Price it right or watch it sit—inventory is piling up and "list high and wait" strategies are dead.

CALGARY — Inventory keeps climbing, and sellers are losing their grip. On February 25th, 81 new listings hit the market while only 70 homes closed, marking another day where supply outpaced demand. That's an 11-unit net gain pushing active inventory to 4,828 properties—the highest February inventory level since 2020. For buyers, this is breathing room. For sellers clinging to last year's pricing power, the window is closing.

The Daily Numbers

• Daily Sales: 70
• New Listings: 81
• Net Inventory Change: Growing (+11)
• Today's Average Price: $698,077

Today's average price of $698,077 is significantly elevated—$65,552 above the monthly average of $632,525 and $72,817 above the year-to-date average of $625,260. This suggests strong activity in luxury or detached segments, while entry-level properties and higher-density homes continue to accumulate on the market. The day's transactions skewed upmarket, but don't mistake this for broad-based strength—it's segmented demand in a sea of rising supply.

Monthly Trends

• Month-to-Date Sales: 1,330
• Month-to-Date Listings: 2,347
• Total Active Inventory: 4,828

The math is brutal: for every home that sold this month, nearly two fresh properties hit the market. Year-over-year context from January 2026 showed a 15% sales decline and a 20.6% inventory surge—the highest January levels in six years. February is following the same script. Apartments and row homes are facing five months of supply, firmly in buyer's market territory, while detached properties remain more stable. Fixed mortgage rates have trended downward since early February as bond yields decline, offering buyers increased purchasing power just as inventory expands. The next Bank of Canada rate decision is expected March 18th, with economists anticipating a hold. Calgary's population growth is cooling to 1.3% in 2026 from 3% in 2025, but interprovincial migration remains strong enough to support steady demand—just not enough to absorb the record 26,000 housing starts from 2025 now flooding the market.