I pulled CREB's May numbers this month and the story is the same one I've been telling since spring: this isn't one market, it's four. Detached is still holding, condos are getting hit hard, and the gap between them keeps widening. Detached benchmark sits at $747,800, down a modest 2.4% year-over-year but up 44.9% from the January 2022 baseline. Condo apartments dropped to $300,400, down 9.1% YoY, with 5.14 months of supply — that's a real buyer's market, not a soft patch. Row homes came in at $422,300 (-6.4% YoY) and semi-detached at $658,309 (-4.1% YoY, but still +71% over four years — the biggest four-year gainer of any segment). City-wide months of supply climbed to 3.12, tipping Calgary into balanced territory overall. (Source: CREB monthly statistics, May 2026 release.)

Last updated: June 8, 2026

Headline numbers

| Metric | May 2026 | YoY | 4-year change | |---|---|---|---| | Detached benchmark | $747,800 | −2.4% | +44.9% | | Semi-detached benchmark | $658,309 | −4.1% | +71% | | Row benchmark | $422,300 | −6.4% | [VERIFY: no 4-yr baseline tracked for row until this report] | | Condo benchmark | $300,400 | −9.1% | +22.2% | | Months of supply, city-wide | 3.12 | up from 2.45 (detached only) | — | | Sales | 2,162 | −15.5% | — | | New listings | 4,226 | −12.7% | — |

(Source: CREB monthly statistics, May 2026 release.)

Detached is still the segment buyers anchor to, and at $747,800 it's basically flat — down 2.4% YoY against a four-year gain of 44.9%. Months of supply for detached alone sits at 2.45, which is tight enough to keep some pricing power with sellers, even as the broader market loosens.

Condo is where the real adjustment is happening. Down 9.1% YoY with 5.14 months of supply, this segment is unambiguously favouring buyers right now — sales fell almost 30% and inventory stayed elevated. If you're shopping under $350K, expect room to negotiate.

Row and semi-detached sit in between. Row at $422,300 is the most affordable ground-oriented option in the city and is still adjusting (-6.4% YoY). Semi-detached at $658,309 is down modestly on the year but remains the biggest four-year winner in the city at +71% — inner-city mid-density product has simply outrun everything else since January 2022.

Quadrant breakdown

| Quadrant | Typical detached | Anchor neighbourhoods | |---|---|---| | NE | [VERIFY: confirm current NE typical detached from CREB district PDF] | Taradale, Saddle Ridge, Mackenzie Lake | | NW | [VERIFY: confirm current NW typical detached from CREB district PDF] | Evanston, Arbour Lake, Citadel | | SE | [VERIFY: confirm current SE typical detached from CREB district PDF] | Forest Lawn, Penbrooke, Auburn Bay | | SW | [VERIFY: confirm current SW typical detached from CREB district PDF] | Lakeview, Glenbrook |

CREB's own district breakdown (published alongside the April release) put the North West, West, and South districts in seller's-market territory for detached, at under two months of supply — the tightest pockets in the city. The apartment condominium market, by contrast, favours buyers everywhere, with inventory running well above long-term trend. I haven't been able to pull the exact May district-level dollar figures from CREB's PDF package yet — treat the table above as a placeholder until I confirm the numbers, not as a citywide quote.

The NE remains the affordable-detached lane — Taradale, Saddle Ridge, and Mackenzie Lake-area communities are where most first-time buyers in 2026 end up shopping. The SE is still bimodal: older east-side pockets like Forest Lawn and Penbrooke pull the quadrant average down, while lake communities in the same quadrant — Auburn Bay, Mahogany, Cranston — trade in a completely different price band.

Condo vs detached over 4 years

| Type | Jan 2022 | May 2026 | Total appreciation | |---|---|---|---| | Detached | ~$516,000 | $747,800 | +44.9% | | Semi-detached | ~$385,000 | $658,309 | +71% | | Condo | ~$245,900 | $300,400 | +22.2% |

(Source: CREB HPI series, January 2022 vs May 2026.)

The four-year window is the one that actually matters for anyone deciding whether now is a good time to buy or sell. Condo has appreciated 22.2% since January 2022 — the weakest of the three segments, and the only one now also posting a meaningful YoY decline (-9.1%). Detached (+44.9%) and semi-detached (+71%) have both kept climbing on a four-year basis even as the YoY read softens, which tells you the current pullback is a cooling-off from an elevated base, not a reversal of the broader trend.

Inner-city condo neighbourhoods — Beltline, Bridgeland, Mission, Eau Claire — are where the bulk of condo inventory and trading volume sits, and where the current buyer-favoured pricing is most usable if you're shopping that segment.

Months of supply by segment

Detached: 2.45 months. Row: 3.35 months. Apartment/condo: 5.14 months. City-wide: 3.12 months, balanced.

That spread is the clearest read on where leverage sits right now. Under roughly three months of supply favours the seller; over five months clearly favours the buyer. Detached is still on the seller's side of that line. Condo is deep on the buyer's side. Row sits in the middle, in genuinely balanced territory.

Buyer programs context

FHSA: $8,000/year, $40,000 lifetime per buyer (tax-deductible going in, tax-free coming out for a qualifying first-home purchase)
HBP: up to $60,000 from RRSP per buyer, repaid over 15 years (limit increased from $35K for withdrawals after April 16, 2024)
Combined ceiling: $100,000 per buyer, $200,000 per couple if both maxed

The federal First-Time Home Buyer Incentive ended on March 31, 2025. Any blog still listing it as active is outdated.

For the full mechanics including the 5/10/20 down-payment tiers and Calgary-specific worked examples, see the Calgary FTHB programs 2026 writeup. For 5+ unit investor activity, see MLI Select.

What this means

If you're buying detached under roughly $750K, you're still competing in a tighter market — price realistically and be ready to move when something in your range comes up. If you're shopping condos, May was a genuinely good month to negotiate: 5.14 months of supply is real leverage, and it's been building for a while. If you're selling a condo, price to the current data, not to what the unit next door sold for two years ago. Same city, four different negotiating positions depending on what you're buying or selling.

Get next month's report Saturday morning — join the digest. Prior month: April 2026 report.

General real estate information, not financial, legal, or tax advice. Always confirm specifics with a licensed advisor for your situation.

I’m a Calgary realtor at eXp — this analysis is independent of any listing pitch. If you want a custom read on your bracket, I’m at /contact.

Calgary Real Estate Market Report — June 2026 (CREB data)