Alberta housing market sees sharp July sales decline

In July 2026 Calgary’s residential market recorded a 9% year‑over‑year drop in sales and a 15% decline in new listings, with the overall benchmark price slipping 2% to $569,200. Oversupply of apartment‑style units, with more than 17,000 under construction, pushed condo prices down over 8% and created a buyer’s market, while detached homes fell under 2% and months of supply rose to three‑and‑a‑half months.

Red Deer reported a 16% plunge in total residential sales for the month, led by a 44% collapse in row‑house transactions. Apartment sales fell 19% and detached sales were down 9%. Year‑to‑date, sales across Alberta’s major cities are down 7%, but detached home prices rose 2.9% to $506,147, while row‑house prices increased 2.8%. Inventory rose 20.3% over July 2025, easing the long‑standing shortage.

Both markets cite high construction levels and reduced international migration as drivers of the slowdown, highlighting a shift toward buyer‑favoring conditions in higher‑density housing.