Calgary Real Estate Report: Calgary Housing: Inventory Flood Hands Leverage to Buyers

THE 3-SECOND BRIEF

• The Pulse: The Grind (Balanced) – Daily equilibrium at 47/47, but 4,848 active listings signal underlying buyer leverage.
• For Buyers: Pick your battles. Detached homes still move fast, but apartments and row homes are yours to negotiate.
• For Sellers: Price aggressively or sit longer. The days of guaranteed bidding wars are gone, especially in high-density.

CALGARY — February 23rd delivered a textbook balanced day: 47 sales, 47 new listings, and zero net inventory change. But zoom out, and the picture shifts. With 4,848 active listings—the highest February tally since 2020—Calgary's spring market is entering a new era. Inventory is piling up, and the leverage is quietly shifting to buyers who know how to wait.

The Daily Numbers

• Daily Sales: 47
• New Listings: 47
• Net Inventory Change: Flat (0)
• Today's Average Price: $640,843

Today's average price of $640,843 sits well above the monthly average of $628,721 and the year-to-date mark of $623,182. The spike suggests detached homes or premium properties drove the day's action—luxury is still moving, while entry-level condos languish.

Monthly Trends

• Month-to-Date Sales: 1,237 (1,190 + 47)
• Month-to-Date Listings: 2,232 (2,185 + 47)
• Total Active Inventory: 4,848

February sales are tracking below January's 1,234-unit total, even as new listings flood in. The math is simple: supply is outpacing demand, especially in apartment and row segments where months of supply now exceed five. Detached homes remain the outlier—under three months of supply keeps sellers in control there. But everywhere else? Buyers are holding the cards. Calgary's "normalization" isn't a crash—it's a recalibration. Slower population growth (1.3% forecast for 2026, down from 3% in 2025) and a wave of new construction have cooled the frenzy. The spring thaw will bring more listings, more choices, and longer days on market.