Calgary Real Estate Market Update: August 2026 Recap

Originally sent to my newsletter subscribers on September 1, 2026.

Quick answer: August 2026 confirmed that Calgary's market is splitting by property type and location. Sales fell 16.4% year over year, the benchmark price eased just 1.1% to $569,800, and condos favour buyers while detached and semi-detached homes stay close to balanced.

 I'm George Brown, a Calgary REALTOR® with LPT Realty. Here's my monthly recap of what happened in August and what it means if you're buying, selling or waiting.

August recap

August confirmed a trend that's been building through 2026: Calgary's market is splitting by both property type and geography. Citywide sales fell 16.4% year over year to 1,660 homes, new listings dropped 9.7%, and the benchmark price eased a modest 1.1% to $569,800. That's a soft landing, not a crash.

The real divide is underneath. Apartment condos are sitting at nearly six months of supply with prices down over 8% from last year, while detached and semi-detached homes are much closer to balanced, with semi-detached prices actually up slightly year over year. Homes over $1,000,000 bucked the slowdown entirely and posted sales gains as buyers took advantage of more supply at the top end.

Days on market crept up to 41 and the sales-to-new-listings ratio slipped to 52.9%, putting the city right at the edge of balanced and tilting toward buyers. How much leverage buyers actually have depends heavily on where and what they're shopping for.

Market trends: August 2026

• Total sales: 1,660
• New listings: 3,141
• Active listings: 6,509
• Benchmark price: $569,800
• Median price: $565,000
• Average price: $638,400
• Days on market: 41

Financial and legal

Bank of Canada: the rate has been held at 2.25% since October 2025, with the next decision on September 2, 2026. Get a current quote from a mortgage professional rather than relying on last month's rate.

Rental market: CMHC projects Calgary's vacancy rate climbing to about 5.7% in 2026 as purpose-built rental supply keeps growing. That's good news for renters, and a signal for investors to expect softer rent growth and more competition for tenants.

Calgary by quadrant

North West

The North West held up better than most of the city, with detached prices down just 1.3% year over year, a mild softening rather than a real correction. Supply sits at 2.6 months for detached homes, among the tightest in the city, and prices ticked up slightly month over month. This remains a reasonably competitive area for sellers.

North East

The North East is the clear outlier on the downside. Detached prices are down 6.4% year over year, the steepest decline of any district, and it carries Calgary's highest apartment supply at nearly 9.7 months. Row homes here have fared even worse, down over 12%. This is where buyers currently have the most negotiating power, and sellers without urgency may want to wait for conditions to firm up.

South West

The West district is one of only two areas posting detached price gains year over year, up 2.8%, with the tightest supply in the city at just 2.3 months. Semi-detached homes here are also seeing gains. It has stayed closest to a seller's market all year, and pricing power remains with sellers who list realistically.

South East

The South East is tracking close to the citywide average: detached prices down 1.7% year over year and supply just under three months, so conditions are balanced. It's also one of the busiest districts by sales volume, meaning there's healthy activity even as prices ease slightly.

Buy, sell or wait?

Buy

• Condo buyers have the most leverage in years: prices down 8%+ year over year with 5.7 months of supply.
• North East or East detached buyers will find the softest pricing and least competition.
• First-time buyers benefit from slower sales (41 days on average) and more negotiating room.

Sell

• Detached and semi-detached sellers in the City Centre or West are still selling into price-supportive conditions.
• Anyone needing to move soon should price to current data, not last year's numbers.
• Semi-detached is one of the tighter segments citywide, so it's a reasonable time to list.

Wait

• Condo owners without urgency may want to let further price correction play out.
• North East sellers facing the steepest declines may get a better outcome by waiting, if circumstances allow.
• Buyers hoping for a bigger detached price drop should note the year-over-year decline was modest and August was flat month over month.

Bottom line

August confirmed a trend already in motion rather than starting a new one. The citywide numbers look calm, but they're hiding a real split: condos are a buyer's market, detached and semi-detached homes (especially in the City Centre and West) are holding closer to balanced, and $1M+ homes are quietly outperforming. Buyers should match their strategy to property type and district. Sellers should price to their specific segment, not the citywide headline. Investors should factor rising rental vacancy into their return expectations.

Want the numbers for your street or building?

I pull the recent sales for your exact area and tell you straight what it means for you. Call or text me at (403) 616-6309, book a call, or get a free home value estimate.

This monthly update was first sent to my newsletter subscribers. General information only, not financial or legal advice. Talk to a mortgage broker, accountant or real estate lawyer about your situation.