Calgary’s housing market has experienced sustained growth over the past several years, driven by strong population migration, a relatively stable economic outlook, and its affordability compared to other major Canadian cities. While demand previously outpaced available inventory across most housing types, recent increases in supply are beginning to shift overall market conditions.
As of early 2026, Calgary is transitioning from the seller’s market that defined 2021 through early 2024 into a more balanced overall environment. New construction activity has expanded, migration levels have moderated from their 2023 peak, and pricing appears to be stabilizing. Detached and semi-detached homes remain relatively supply-constrained, while condominiums and townhouses are seeing higher inventory and increased buyer choice.
For buyers, this shift creates a different set of opportunities, particularly when comparing resale homes to new construction homes in Calgary’s active growth communities. This guide breaks down current market trends, forecasts for 2026, and what to consider when building a new home in Calgary.
What Are the Current Calgary Real Estate Market Trends?
Calgary’s housing market remains active, though the pace and dynamics of that activity have shifted. After several years of strong seller’s market conditions from 2021 through early 2024, Calgary began transitioning toward more balanced conditions in late 2024 and into 2025. According to the Calgary Real Estate Board (CREB), increased supply across new construction, rental, and resale segments has coincided with a return to more typical demand levels, easing upward pressure on home prices, particularly for condominiums and townhouses.
As of March 2026, Calgary’s benchmark home price was approximately $565,600, down 4.2% year over year but up 0.9% from February, suggesting prices may be stabilizing after softening from previous highs. Detached and semi-detached homes remained the most supply-constrained segments, with about 2.2 and 2.5 months of supply, helping support relative price stability in those categories, according to WOWA’s Calgary Housing Market Report.
In contrast, condominiums and townhouses are seeing higher inventory levels and more balanced conditions, giving buyers more choice and greater negotiating room than in detached and semi-detached categories.
Key Market Drivers Shaping Calgary
Together, the following factors are helping sustain housing demand in Calgary as market conditions become more balanced.
Strong Interprovincial Migration
Statistics Canada reports that Calgary recorded a net gain of 11,195 people from other Canadian provinces between July 2024 and July 2025, placing it among the top census metropolitan areas (CMA) for interprovincial migration.
Continued Population Growth
Calgary’s population continues to expand at one of the fastest rates among major Canadian urban markets. Statistics Canada reports that the Calgary census metropolitan area grew by 2.9% from July 1, 2024 to July 1, 2025, tying it among the fastest-growing CMAs in Canada.
Relative Affordability
Compared with higher-cost markets such as Vancouver and Toronto, Calgary continues to offer more attainable homeownership options. RE/MAX notes that condominium construction is helping improve affordability in the region, while new communities farther from the core are creating more affordable options for buyers.
Ongoing Demand for Detached Homes
RE/MAX’s 2026 Calgary housing outlook suggests that single-detached homes will continue to see the strongest demand and sales activity in the region. The report also notes ongoing activity from first-time buyers in suburban areas and move-up buyers purchasing larger properties.
Calgary Housing Market Forecast for 2026
Housing demand in Calgary is expected to remain steady in 2026, though price growth will likely be more modest than the rapid gains seen in 2022 and 2023. CREB forecasts approximately 22,200 sales in 2026, down about 2% year over year, with overall prices expected to remain relatively flat as higher supply and more balanced conditions continue to reshape the market.
One of the most significant developments heading into 2026 is the increase in housing supply. Resale inventory has risen, and a large number of units that began construction over the past two years are continuing to move through the pipeline. This added supply is creating more options for buyers while reducing some of the urgency that characterized earlier years.
Key Real Estate Forecasts for 2026
Detached Homes
Expected to remain relatively stable, with tighter supply supporting prices.
Condominiums and Townhouses
Higher inventory levels may continue to create more balanced conditions and give buyers more negotiating room.
New Construction
Housing starts are expected to remain elevated but may ease from recent highs as supply levels increase.
Long-Term Population Growth
Alberta’s population is projected to continue growing, supporting long-term housing demand.
Interest Rates
With the Bank of Canada expected to take a more cautious approach to rate cuts in 2026, affordability improvements may rely more on pricing and supply than financing conditions.
Calgary Housing Market Forecast for 2026 by Quadrant
Buyer demand in 2026 is expected to vary across Calgary based on community, infrastructure, and available housing supply. Communities with active new development, modern amenities, and convenient access to employment and transit corridors are expected to attract the most activity.
Southeast Calgary
Southeast Calgary continues to see significant growth, with several large master-planned communities in active development. The quadrant offers a wide range of new construction homes and has become increasingly self-sufficient due to ongoing infrastructure investment, including South Health Campus, the Seton retail district, and continued road network expansion.
For buyers looking for a new construction home in southeast Calgary, Shane Homes offers new home opportunities in Legacy and Rose Ranch.
Northwest Calgary
Northwest Calgary continues to expand as buyers look for new housing along the city’s northern and western edges, with convenient access to Stoney Trail and nearby amenities. Its proximity to destinations such as the University of Calgary, Foothills Medical Centre, and Market Mall also adds to its appeal for buyers seeking convenience alongside new community growth.
For buyers considering new construction in northwest Calgary, Shane Homes offers new home opportunities in Esker Park, Ambleridge, Ambleton, and Glacier Ridge.
Southwest Calgary
Southwest Calgary includes both established neighbourhoods and newer master-planned communities that continue to attract buyers looking for access to major roadways, outdoor recreation, and a relatively convenient connection to central Calgary. The quadrant benefits from access to Stoney Trail and Macleod Trail, along with proximity to destinations such as Fish Creek Provincial Park, the Glenmore Reservoir, and the mountain-bound routes leading toward Bragg Creek and Kananaskis.
For buyers looking to build in southwest Calgary, Shane Homes offers new home opportunities in Aspen Acres Manor, Aspen Spring Estates, CreekView, Sirocco, and Vermilion Hill.
Northeast Calgary
Northeast Calgary continues to expand, with newer communities offering more attainable price points than some other parts of the city. The quadrant’s proximity to Calgary International Airport, major roadways, and established commercial areas makes it appealing to buyers looking for convenience and accessibility.
For buyers exploring new homes in northeast Calgary, Shane Homes offers new home opportunities in Cornerstone.
Which Calgary Communities Are Expected to See the Highest Demand in 2026?
Communities that combine new construction availability, established amenities, and transportation access are likely to attract the most buyer interest in 2026. In Calgary, that profile applies most directly to master-planned communities in active development areas across all four quadrants.
Calgary Communities to Watch in 2026
- Legacy (SE Calgary): An established southeast community with active new construction, access to Township Centre and South Health Campus, and an extensive pathway network through protected green space.
- Cornerstone (NE Calgary): One of Calgary’s largest active northeast communities, offering a wide range of new-home options in a major master-planned setting.
- Glacier Ridge (NW Calgary): A growing northwest community with access to Stoney Trail, natural coulees, planned parks and pathways, and a new-home setting framed by the Rocky Mountain Foothills.
- Sirocco (SW Calgary): A southwest community with convenient road access, nearby retail and amenities, and a setting that combines natural surroundings with convenient connections to the rest of the city.
Communities with planned infrastructure additions, new schools, retail growth, or road improvements are positioned to see the most sustained demand. Buyers who enter during active development phases often have access to a broader selection of lots, floor plans, and home types before inventory in that phase is absorbed.
Is 2026 a Good Time to Buy a Home in Calgary?
For buyers who have been waiting for more balanced market conditions, 2026 represents a shift from the highly competitive environment that persisted from 2021 through early 2024. More inventory, increased negotiating room, and a wider selection of homes are all present in the current market.
Factors that Support Buying a Home in 2026
- More supply means buyers have more options and less competitive pressure, particularly for condominiums and townhouses.
- Detached home prices are showing signs of stabilizing after recent market adjustments, giving buyers more confidence when making a purchase decision.
- Calgary continues to attract interprovincial migrants from higher-cost markets, supporting sustained long-term housing demand.
- Alberta’s population is projected to continue growing, reinforcing long-term demand for housing.
- Calgary’s economic outlook remains relatively strong compared to other major Canadian cities.
Considerations Buyers Should Factor In
- Mortgage rates may not decline significantly in 2026, which could limit near-term affordability improvements from financing.
- Condominium and townhouse prices may remain soft as inventory in those segments remains elevated.
- Popular detached home communities can still see competition for desirable lots and floor plans, particularly in areas with limited remaining phases.
For buyers considering new construction specifically, one advantage is the ability to select a floor plan, choose finishes, and build a home suited to their household rather than compromising on an existing resale property. New construction also typically includes warranty coverage and updated energy efficiency standards that older homes may not offer.
Building a New Home in Calgary with Shane Homes
For buyers looking to make the most of Calgary’s more balanced market conditions in 2026, Shane Homes offers opportunities across the city’s active growth areas. Whether you are exploring options as a first-time buyer, moving into a larger home, or building in a community that better fits your lifestyle, Shane Homes builds in communities across all four quadrants of Calgary.
As Calgary’s favourite homebuilder, Shane Homes has helped more than 16,000 homeowners over 45+ years. With a wide selection of home types, floor plans, and opportunities to customize your space, Shane Homes gives buyers the chance to build a home that fits their needs in some of Calgary’s most desirable new communities.
Visit a Shane Homes showhome to explore floor plans, layouts, and community options in person.
Frequently Asked Questions
Which Calgary neighbourhoods are growing the fastest?
Communities with active new construction and infrastructure investment are growing the fastest. Examples include Legacy in southeast Calgary, Glacier Ridge in the northwest, and Cornerstone in the northeast, all of which continue to see new development and buyer activity.
Why do buyers choose Shane Homes for new construction in Calgary?
Shane Homes has been building in Calgary since 1979, with more than 16,000 homes built over 45+ years. With a range of home types and customization options, buyers can modify floor plans and finishes rather than settle for a fixed design. Shane Homes also offers transparent pricing through its Build and Price tool, along with design support, home care services, smart home technology, and warranty coverage.
What does “months of supply” mean in real estate?
Months of supply measures how long it would take to sell all current homes on the market at the current pace of sales, assuming no new listings are added. It’s a key indicator of market balance. Lower months of supply suggest a seller’s market with more competition and upward pressure on prices, while higher months of supply indicates a buyer’s market with more choice and negotiating room.
