Jeff MacKinnon

Additional supply choice in the rental and new-home markets is heavily weighing on resale condominiums. The Calgary Real Estate Board released its May housing report on June 1.
Condo sales continued to slow into May, contributing to a year-to-date decline of nearly 28 per cent. At the same time, while new listings are not as high as last year, the 403 sales compared to 961 new listings caused the sales- to-new-listings ratio to fall to 42 per cent, keeping inventories
elevated.
With supply levels remaining elevated and demand easing, the months of supply has pushed above five months, creating conditions favourable to buyers. The excess supply is also weighing on prices, as the unadjusted benchmark price continues to decline. In May, the unadjusted benchmark price was $300,400, lower than January levels and nine per cent below last year’s price.
Prices have eased across each district, with double-digit declines occurring in the North East, North, and East districts.
The lowest price decline occurred in the North West district at six per cent. Overall inventory within the Calgary board has risen from the start of the year, reaching 6,752 units in May.
While these levels are consistent with last May, they remain 11 per cent higher than longer-term trends for the month, thanks to higher supply levels of apartment and row style homes. Meanwhile, inventory levels for detached homes are down three per cent compared with both last year and long-term trends.
At the same time, sales activity has been slowing. Calgary sales in May were 2,162 units, 16 per cent lower than last year’s levels and similar to sales reported in April.

https://www.creb.com/Housing_Statistics/documents/05_2026_Calgary_Monthly_Stats_Package.pdf