Calgary market slides in February
Calgary showed clear softening in February: apartment benchmark prices fell 9.3% year‑over‑year and sales dropped about 27% YoY, with overall sales down 11.3% — signalling a regional shift from seller to balanced conditions. That divergence underscores the patchwork nature of Canada’s correction and regional credit risk concentration. (x.com)
Inventory in Calgary hit 4,822 units in February, with condominiums and row homes accounting for more than half of that stock; citywide months of supply was 3.16 and the sales‑to‑new‑listings ratio registered 55%. (creb.com) Apartment‑segment specifics show a benchmark price of $298,600, an apartment months‑of‑supply of 4.58, and a sales‑to‑new‑listings ratio of 46%, indicating buyer‑favouring absorption dynamics in the condo ownership stock. (creb.com) Lower‑density product lines tightened: detached benchmark price was $734,300 with 2.64 months of supply, semi‑detached benchmark $682,200 at 2.37 months, and row homes at a $423,600 benchmark with 3.29 months of supply. (creb.com) CREB notes nearly 18,000 apartment units are currently under construction following record apartment starts last year, adding a sizeable pipeline that feeds into condo ownership and rental markets. (creb.com) Monetary policy remained on hold: the Bank of Canada held the overnight rate at 2.25% on March 18, 2026, flagging heightened volatility from the Middle East and energy‑price risks as key uncertainties. (bankofcanada.ca) Retail mortgage pricing in mid‑March showed best available high‑ratio 5‑year fixed offers near 3.89% and best variable offers around 3.35%, while posted conventional 5‑year closed rates from major banks sat notably higher (above 5% in posted matrices). (ratehub.ca) CREB data show inventory was up 16% year‑over‑year to 4,822 units in February, with the bulk of that gain concentrated in condos and row homes — a stock composition that concentrates correction exposure in ownership apartment markets. (creb.com) City‑level divergence persisted across districts: the West district reported the tightest conditions with under two months of supply, while the North East continued to record excess supply that suppressed monthly price gains. (creb.com)
