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

THE DAILY PULSE

• Daily Sales: 55
• New Listings: 111
• Net Inventory Change: Inventory Growing (+56)
• Today's Average Price: $565,396

Today's average price of $565,396 is running nearly $10K below the month's average of $574,914. Translation: The action is happening in the bargain bins and mid-tier properties. Luxury isn't moving—buyers are shopping for value, not flex.

The Move: If you're a buyer targeting entry-level or multi-family units under $550K, this is your moment. Inventory is stacking faster than sellers can clear it. Lock in showings this week before the weekend warriors flood in—hesitation costs you selection, not price.

MONTHLY TRENDS

• Month-to-Date Sales: 234 (179 + 55)
• Month-to-Date New Listings: 436 (325 + 111)
• Total Active Inventory: 4,477

The math is brutal for sellers: 436 new listings against 234 sales. That's nearly a 2:1 ratio. Every day this imbalance persists, sellers lose leverage. Buyers now have choice—the kryptonite to seller pricing power. With inventory at 4,477 units (the highest January level since 2020), the market is no longer rewarding "test the market" pricing strategies.

Sellers: The competition is rising. If you aren't the best price on your block, you're just decoration. Multi-family sellers (apartments, townhouses) are feeling the squeeze hardest—your segment is sitting at 5 months of supply. Price it to move, or watch it sit through spring while fresh inventory keeps landing. The days of "we'll see what happens" pricing are over.

THE BIGGER PICTURE (YoY)

Calgary's residential benchmark price dropped 4.7% year-over-year to $554,400 in January 2026. Detached homes fell 3.4%, but the real bloodbath is in high-density: apartments down 7.7%, row homes down 5.2%. The Bank of Canada is holding rates at 2.25% through Q3 2026, which means the urgency buyers felt in 2024's rate-panic frenzy is dead. With 26,000 units under construction (mostly apartments) set to hit the market soon, the supply wave is just beginning.

The Outlook: This is a buyer's market wrapped in a seller's denial. Inventory is climbing, prices are softening, and the sense of urgency is extinct. If you're sitting on the sidelines waiting for "the bottom," you're overthinking it—the leverage is shifting daily, and today's numbers prove it. Rock & roll.

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