Calgary Apartment Monthly Market Report - August 2026

Executive Summary

Calgary's Apartment market remained in a Buyer's Market position in August 2026, with official CREB Months of Supply at 5.68. Sales totalled 333, down 25.84% from August 2025, while new listings fell 20.48% to 699. Inventory was 1,891, only 4.45% below a year earlier. Because sales weakened much faster than available supply, Months of Supply increased from 4.41 to 5.68. The Apartment benchmark price was $295,400, down 8.18% year over year.

The 13-month trajectory shows a late-2025 contraction followed by a substantial rebuilding of activity and inventory through the first half of 2026. Inventory reached just over 2,000 units in May, June and July before easing to 1,891 in August, while sales fell from 408 in July to 333. The market therefore entered August with supply still comparatively persistent relative to the sales pace.

Price-range conditions were highly uneven. Sales increased 30.0% below $200,000, but declined in every governed range above that threshold, including a 57.4% drop from $300,000-$349,999 and a 34.8% decline at $400,000+. Current Active Listings were largest from $250,000-$299,999 and at $400,000+. Geography was similarly dispersed: district Months of Supply ranged from 3.39 in West to 9.69 in North East, while every district benchmark price was lower year over year. For buyers and sellers, the city-wide Buyer's Market classification is useful context, but the relevant competitive environment depends heavily on price range, district and the immediate comparable set.

Apartment Market at a Glance

Source: CREB® City of Calgary Monthly Statistics, August 2026. Market Status is derived only from official Apartment Months of Supply.

How the Apartment Market Is Changing

The 13-month CREB series shows an Apartment market that moved through a late-2025 contraction, rebuilt activity and supply during the first half of 2026, and then softened again through July and August. In August 2025, Calgary recorded 449 Apartment sales, 879 new listings and 1,979 units of inventory. Sales fell to 273 by December, while new listings dropped to 353 and inventory to 1,238. The year-end decline therefore reduced both transaction activity and available supply.

Early 2026 brought a broad rebound. Sales increased from 273 in January to 432 in April, while new listings reached 961 in May. Inventory rebuilt more steadily, rising from 1,436 in January to 2,072 in May and 2,078 in June. Sales remained above 400 in May, June and July, but the August count fell to 333. New listings also eased to 794 in July and 699 in August, while inventory declined to 2,002 and then 1,891.

The year-over-year relationship is especially important. August sales were 25.84% below the 449 recorded a year earlier, whereas inventory was only 4.45% lower. New listings declined 20.48%. Because available supply held up much better than the monthly sales pace, official Months of Supply increased from 4.41 in August 2025 to 5.68 in August 2026, keeping the city-wide Apartment segment in a Buyer's Market.

Price movement followed the same broad softening pattern. The benchmark price declined from $321,700 in August 2025 to $295,400 in August 2026, an 8.18% decrease. The 13-month series shows the benchmark moving generally lower through the period, including $303,600 in December, $301,400 in April and $297,600 in July. The dominant trajectory is therefore a market where supply rebuilt substantially from winter lows, but sales did not recover to the prior-year pace and weakened again by August.

Where the Apartment Market Is Diverging

August's Apartment price-range evidence shows that the city-wide sales decline was not uniform. The clearest exception was the lowest governed range. Official CREB sales under $200,000 increased from 30 in August 2025 to 39 in August 2026, a 30.0% gain. Listing-derived new listings in that range also rose sharply, from 42 to 74, or 76.2%, and there were 203 current Active listings. Stronger sales at the lowest price point therefore occurred alongside a larger flow of new supply rather than a shrinking set of available options.

From $200,000-$249,999, sales declined 11.7% to 68 while new listings were almost unchanged at 114, down 1.7%. The $250,000-$299,999 range was similar: sales fell 12.4% to 85, new listings increased slightly to 170, and this range had the largest current Active count at 437. These two bands show softer sales without the same contraction in incoming listing supply seen higher in the market.

The largest divergence appeared from $300,000 upward. Sales from $300,000-$349,999 fell from 108 to 46, a 57.4% decline, while new listings dropped 42.6% to 124 and 333 listings remained Active. Sales from $350,000-$399,999 declined 22.9%, with new listings down 37.4%. At $400,000 and above, sales fell 34.8% to 58 and new listings declined 34.9%, yet the range still contained 362 Active listings.

Taken together, the evidence shows relative strength below $200,000, moderate sales softness from $200,000-$299,999, and much weaker activity above $300,000. Current Active supply is concentrated most heavily from $250,000-$349,999 and at $400,000+, so the amount of choice and the pace at which that choice is being absorbed differ materially across Apartment price ranges in August.

Sales and Sales YoY are official CREB® Apartment measures. New Listings, New Listings YoY and Active Listings are derived from supplied Pillar 9™ MLS® records. Active Listings is an Active-only listing count and is not CREB Inventory.

Geographic Differences

Apartment conditions varied widely across Calgary's eight CREB districts in August. West had the lowest Months of Supply at 3.39, followed by North at 3.89. North West and South were in the mid-fours at 4.59 and 4.54, while East and South East were higher at 5.40 and 5.74. The highest supply readings were in City Centre at 7.58 and North East at 9.69.

Benchmark prices were lower year over year in every district. City Centre recorded the smallest decline at 7.53%, followed by West at 7.78% and South East at 7.97%. North West was down 8.29%, North 9.31% and South 9.55%. The largest annual declines were North East at 12.11% and East at 12.77%.

The district evidence shows broad price weakness but not a simple mechanical relationship between current supply and annual price change. City Centre, for example, had one of the highest Months of Supply readings but the smallest benchmark decline, while East had a lower supply reading than City Centre and North East but the largest annual price decrease. District supply and price movement therefore need to be interpreted as related market evidence, not as proof that one directly caused the other.

Source: CREB® City of Calgary Monthly Statistics, August 2026.

What Is Driving the Apartment Market

The clearest internal market mechanism in August is the gap between the pace of sales and the amount of supply still available. Apartment sales were down 25.84% year over year, while inventory declined only 4.45%. New listings also fell, but the 20.48% reduction did not offset the much weaker sales pace. With fewer transactions absorbing a comparatively persistent inventory base, official Months of Supply increased to 5.68 from 4.41 and the overall Apartment segment remained buyer-favouring.

Price-range evidence shows that this mechanism was uneven. Below $200,000, sales increased and new listing flow expanded sharply. From $200,000-$299,999, sales softened while incoming listings were broadly stable. Above $300,000, both sales and new listings contracted, but current Active counts remained substantial, particularly from $300,000-$349,999 and at $400,000+. This produces different absorption conditions within the same property subtype.

District evidence reinforces the same point. Months of Supply ranged from 3.39 in West to 9.69 in North East, while every district recorded a lower benchmark price than a year earlier. The August city-wide Buyer's Market is therefore best understood as the combined result of weaker sales relative to supply, expressed differently across price ranges and districts rather than as one uniform condition throughout Calgary.

What This Means for Buyers and Sellers

For Apartment buyers, the city-wide 5.68 Months of Supply indicates more available supply relative to the current sales pace than was present in August 2025. That generally creates a broader comparison set, but the amount of choice and the intensity of sales activity vary considerably by price range. Below $200,000, sales were higher and new listings increased sharply, so buyers may see active turnover alongside a continuing flow of new options. From $250,000-$299,999, 437 current Active listings provide a much larger set of competing properties even though sales were lower than a year earlier.

Above $300,000, the backdrop is softer. Sales from $300,000-$349,999 fell 57.4%, and sales at $400,000+ declined 34.8%. Those ranges still contained 333 and 362 current Active listings respectively. A larger competing set combined with weaker sales can make differences in pricing, condition, building attributes and location more visible to buyers. It does not determine the result for any individual property, but it changes the context in which that property is evaluated.

For sellers, the city-wide Buyer's Market label is useful context but should not replace segment-specific comparison. A property below $200,000 is participating in a different sales pattern from one priced above $300,000. District conditions also vary sharply: West and North had materially lower Months of Supply than City Centre or North East, while benchmark-price declines ranged from 7.53% to 12.77%.

Both buyers and sellers therefore benefit from narrowing the August evidence to the relevant price range, district and immediate comparable inventory. The report supports a market with more supply relative to sales than a year ago, but the practical competitive environment depends on where the property sits within those layers rather than on the city-wide classification alone.

What to Watch Next

First, watch whether Apartment sales stabilize relative to inventory. A recovery in sales while inventory continues to ease from the early-summer peak would reduce Months of Supply; continued sales weakness with inventory near current levels would preserve buyer-favouring conditions.

Second, monitor the sharp price-range split. If sales above $300,000 improve relative to current Active supply, the present divergence would narrow. If lower-priced sales remain stronger while the $300,000+ ranges stay soft, segment differences would remain a central feature of the market.

Finally, track the district spread in Months of Supply, particularly City Centre and North East compared with West and North. Meaningful convergence would make the city-wide reading more representative of local conditions; a wider spread would make district-level context even more important.

Explore the Market in More Detail

• Browse Calgary Apartment Homes for Sale
• Explore Calgary Communities