Calgary Real Estate Report: Calgary Housing: Supply Surge Triggers Buyer Revenge Arc

THE DAILY PULSE

• Daily Sales: 47
• New Listings: 88
• Net Inventory Change: Inventory Growing (+41)
• Today's Average Price: $652,453

Today's average price of $652,453 punched above the monthly average of $631,105, signaling that higher-end properties are moving—but here's the kicker: 88 new listings flooded the market while only 47 homes sold. The expensive stuff might be transacting, but the volume of fresh supply is stacking up fast. This isn't a luxury market problem—it's a market-wide supply wave.

The Move: If you're a buyer targeting detached homes in the $600K-$700K range, you've got options today. Use them. Sellers who priced aggressively last week are now competing with 41 additional properties that weren't there yesterday. Don't get emotionally attached to the first house you see—there are three more coming tomorrow.

MONTHLY TRENDS

• Month-to-Date Sales: 471 (424 + 47)
• Month-to-Date New Listings: 971 (883 + 88)
• Total Active Inventory: 4,685

The Friction: New listings are outpacing sales by more than 2:1 this month (971 vs. 471). That's 500 extra homes sitting on the market, and sellers are bleeding leverage with every passing day. Buyers now have 4,685 active properties to choose from—the highest February inventory since the pandemic reset. The power dynamic has officially flipped. This isn't a balanced market; this is a buyer's playground with sellers holding onto 2024 price expectations that expired in January.

Tactical Advice for Sellers: If you're listing in the next 48 hours, you're not competing with last month's prices—you're competing with 4,685 other listings right now. Price it like you mean it, or watch your home become wallpaper while buyers cherry-pick the best deals. The market doesn't reward hesitation anymore; it rewards aggression on price.

THE BIGGER PICTURE (YoY)

Year-over-year, Calgary's market is in full retreat from the seller frenzy of 2022-2024. January 2026 saw a 15% drop in sales compared to last year, and benchmark prices fell 5% YoY. The culprit? Record-breaking supply from 28,000 new homes granted occupancy in 2025—double the 10-year average. Add slowing migration (demand is returning to long-term norms) and mortgage rates that refuse to meaningfully budge (hovering near current levels with the next Bank of Canada decision in March), and you've got a market that's normalized hard. Detached homes in Western districts are holding steady, but condos and townhomes—especially in the Northeast and City Centre—are supply-heavy and getting crushed.

The Outlook: February is setting up as a buyers' market with a revenge arc. If listings keep flooding in at this pace and sales stay tepid, we're looking at a spring where sellers either get realistic or get stuck. The rock-and-roll days of bidding wars are over—welcome to the era of negotiation, where the sharpest price wins.

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