Real Estate Report: Calgary's Inventory Swells Amidst Moderate Daily Sales Activity
Calgarians are saying the city's housing market is shifting. With more listings than sales, buyers might find less pressure and more choices. This could be the moment for those seeking entry-level homes.
THE DAILY PULSE
- Daily Sales: 34 homes sold on January 6th.
- New Listings: 77 new properties entered the market on January 6th.
- Net Inventory Change: A net increase of 43 active listings for the day.
Today's average selling price registered at $563,587. This is notably lower than the month-to-date average of $616,514, indicating that daily activity on January 6th was likely concentrated in more affordable market segments, rather than reflecting a true dip in overall property values.
The So What? (For a Buyer Today): With new listings significantly outpacing sales, buyers are seeing an immediate increase in selection. This growing inventory, especially if centered on entry-level properties, could offer opportunities for more thoughtful decision-making and potentially less intense bidding pressure in specific segments.
MONTHLY TRENDS
- Month-to-Date Sales: 134 homes sold in the first six days of January.
- Month-to-Date New Listings: 356 new properties listed since January 1st.
- Current Total Active Inventory: The market currently holds 3,937 active listings.
The cumulative trend mirrors daily activity, with new listings far outstripping sales (356 vs. 134 MTD). This consistent inventory growth reflects a market moving towards increased supply and buyer choice, aligning with seasonal patterns of post-holiday re-engagement and a broader shift towards more balanced conditions.
The So What? (For a Seller on Inventory): Increasing inventory means more competition for sellers. Strategic pricing, exceptional property presentation, and quick responses to inquiries are becoming increasingly critical to stand out and attract offers in this evolving market environment. Expect more choice for buyers as the month progresses.
THE BIGGER PICTURE (YoY)
Calgary's real estate market is beginning 2026 with a foundational shift in inventory dynamics. Following a 2.0% decline in benchmark prices in 2025 and overall inventory levels rising to pre-pandemic highs last year, the current build-up is a continuation of this trend. December 2025 saw a significant 28.9% year-over-year growth in total listings, pushing the 'months of supply' – a key indicator of market balance – to 3.59, up from 2.43 a year prior. Even detached homes, typically more resilient, saw months of supply closer to 2.7, signaling moderating conditions across the board.
Externally, the mortgage landscape has shifted slightly. Five-year fixed rates have seen a modest increase (approx. 10-20 basis points) over the last few weeks due to volatility in the bond market. Conversely, variable mortgage rates remain holding steady, following the Bank of Canada’s decision to keep the overnight rate unchanged at 2.25% in December. This divergence—fixed rates creeping up while variable rates pause—adds a new layer of complexity for buyers weighing immediate stability against long-term flexibility.
The So What? (For a Buyer on Rates & Value): The clear trend of increasing inventory, reinforced by moderate daily and monthly sales, suggests buyers are gaining more leverage and selection. However, with fixed rates nudging upward, the "wait and see" approach now carries a slight risk of higher borrowing costs for those preferring locked-in stability. This period of softening supply offers a strategic window for buyers to explore more options and conduct thorough due diligence, but those considering a fixed-rate mortgage may want to secure a rate hold sooner rather than later.
