Apartments see steepest price decline among Calgary housing types
Calgary apartment prices dropped 9 per cent year-over-year in May, with elevated inventory and slowing sales pushing the market down.
The day's top stories, food & events — every morning at 7. Unsubscribe anytime.
Apartment-style homes are experiencing some of the steepest declines in Calgary's housing market, according to a new real estate report.
The Calgary Real Estate Board's May 2026 housing report showed that the benchmark price for an apartment fell to $300,400, down nine per cent from the same time last year. Prices have also declined since the start of 2026.
Elevated inventory levels and slowing sales are putting downward pressure on prices. Apartment sales are down 30 per cent year-over-year, the biggest drop among all housing types.
Apartment inventory currently sits at 2,070, which has pushed months of supply up to 5.14. That means it would take just over five months to sell all the apartments on the market — a 41 per cent increase compared to last year.
Other housing types saw smaller declines. Row-style homes saw the second-largest decline, with benchmark prices falling six per cent year-over-year to $422,300. Semi-detached homes saw little change, with prices dropping by just one per cent to $691,100, followed by detached homes, which saw a two per cent decline to $747,800.
As a whole, the total residential benchmark price in Calgary dropped by three per cent year-over-year to $570,500.