The CREB® stats are out, showing that Calgary reported 1,234 sales in January, a year-over-year decline of 15 per cent, but in line with typical levels of activity for the month. While sales declined across all property types, the steepest declines occurred in higher-density homes.
“Following the typical December slowdown, potential buyers for high-density homes were more hesitant to return to the market in January, as increased supply choice across all aspects of the market has reduced the sense of urgency,” said Ann-Marie Lurie, CREB®’s Chief Economist. “At the same time, sellers were quick to bring their listings onto the market, causing the sales-to-new-listings ratio to drop to 44 per cent, mostly due to shifts in apartment and row-style homes. Overall, this is not entirely uncommon for January, as both buyers and sellers weigh their options ahead of the spring market.”
The rise in new listings compared to sales caused inventory levels to increase to 4,391 units, the highest January level since 2020. However, as with sales, conditions vary by property type, with row and apartment homes facing higher levels of inventory compared to long-term trends. The result is months of supply that ranges from under three months in the detached sector to five months for apartment-style homes.
Due to declines in the later part of 2025, benchmark prices are lower than levels reported at the start of last year. However, seasonally adjusted figures point to stable levels in January compared to the end of 2025. Nonetheless, year-over-year total residential benchmark prices have declined by nearly five per cent, as steep declines reported in the oversupplied row- and apartment-style homes weighed on total residential prices compared to last year.
Airdrie
While down from last January, sales activity remained relatively strong. With 106 sales and 227 new listings, the sales-to-new-listings ratio dropped to 47 per cent, slightly lower than typical for January. This resulted in some further gains in inventory levels, keeping the months of supply just above three months and in line with long-term trends. The unadjusted benchmark price was $513,900, reporting a modest monthly gain consistent with seasonal trends. However, thanks to pullbacks last year, prices remain five per cent lower than levels reported in January 2025.
Cochrane
New listings rose to 149 units, the highest level ever reported in January. With only 54 sales, the sales-to-new-listings ratio dropped to 36 per cent, causing inventories to rise and keeping months of supply at five months. After several months of slightly higher months of supply, prices have trended down on a month-over-month basis for three consecutive months. As of January, the unadjusted benchmark price was $550,800, nearly two per cent lower than both December and the start of last year.
Okotoks
Okotoks continues to struggle with lower inventory levels compared to long-term trends, limiting sales activity. January reported 33 sales and 52 new listings, resulting in a sales-to-new-listings ratio of 63 per cent and keeping inventory levels low at 79 units. The months of supply remained just above two months, and prices remained relatively unchanged compared with the previous month. However, thanks to some price adjustments last year, the total residential benchmark price of $599,500 in January was two per cent lower than levels reported last year.
Read the full release here www.creb.com/News/Media_Releases/2026/February/January_2026_Stats/ Connect with me for more about the real estate market in and around Calgary. Join me on Facebook and Google for the latest in real estate news!