Calgary Real Estate Report: Calgary Housing: Inventory Surge Crushes Seller Leverage

THE DAILY PULSE

• Daily Sales: 19
• New Listings: 47
• Net Inventory Change: Inventory Growing (+28)
• Today's Average Price: $712,747

Today's average price of $712,747 is a statistical outlier—a few luxury transactions skewing the numbers higher. The median price of $630,000 tells the real story, and it sits well above the monthly average of $623,220. Translation: The action is happening in the mid-to-upper bracket, but those sales are getting buried under a tidal wave of new inventory. This isn't a hot market—it's a market where 47 sellers showed up and only 19 buyers answered the call.

The Move: If you're a buyer shopping in the $500K-$650K range, you just inherited all the leverage. Sellers in that band are staring at growing competition and shrinking urgency. Make lowball offers. Walk away if they don't bite. They'll call you back in 72 hours when three more comps hit the MLS.

MONTHLY TRENDS

• Month-to-Date Sales: 817 (798 + 19)
• Month-to-Date New Listings: 1,604 (1,557 + 47)
• Total Active Inventory: 4,809

The Friction: We're running a 1.96-to-1 ratio of listings to sales this month. For every home that closes, two new properties are flooding the market. Active inventory is now at 4,809—the highest February count since 2020. This is a supply surge, and it's systematically stripping pricing power away from sellers who think they can still command 2024 premiums. Apartments and townhomes are getting crushed hardest, with forecasted price drops of 3.5% and 1.9% respectively. Detached homes are holding steadier, but the days of automatic appreciation are over.

Sellers: The competition is rising. If you aren't the best price on the block, you're just decoration. Price it right on Day 1, or prepare to chase the market down. The "list high and wait" strategy died in Q4 2025. Bury it.

THE BIGGER PICTURE (YoY)

Year-over-year, the market is in full normalization mode. Sales are down 15% compared to January 2025, and the Benchmark Price trajectory for 2026 is flat to modest growth (0-3%). The Bank of Canada held rates at 2.25% on January 28, with the next decision March 18—no rescue coming from cheaper money. Meanwhile, Calgary added nearly 28,000 new homes in 2025, more than double the 10-year average, and that supply bomb is detonating in the resale market right now. Population growth is cooling from 3% in 2025 to a forecasted 1.3% in 2026, further eroding demand.

The Outlook: This market is shifting from seller fantasy to buyer reality—ride the wave or get swept under it. Rock & roll.

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