This property type in Calgary is seeing the biggest price drop
A new real estate report shows apartments are seeing the biggest year-over-year price drop among all property types in Calgary, with prices down nearly nine per cent.
The Calgary Real Estate Board (CREB) released its July 2026 housing report, which found that apartments saw an 8.4 per cent year-over-year decline in prices, falling to $297,600, also making it the cheapest home type in the city.
The CREB says that a surge in apartment construction is causing the price drop.
“While new home construction is slowing, there are over 17,000 apartment-style units under construction. This continues to weigh on rental and higher-density properties, driving price adjustments,” said Ann-Marie Lurie, chief economist at the Calgary Real Estate Board.
Calgary Real Estate Board
As of July, the months of supply for apartments sits at 4.90, meaning it would take just under five months to sell all of the available units on the market. Apartment inventory is sitting at 1,999.
Row-style homes saw the second largest decline in prices, falling to $418,500, a 6.1 per cent drop from this time last year.
Prices across all housing types were down, including semi-detached, which recorded a slight 0.3 per cent year-over-year decrease to $691,000, and detached homes, which saw a 1.9 per cent decrease in prices, with the benchmark sitting at $743,900.
Overall, the total residential price in Calgary was down by two per cent year-over-year to a total benchmark price of $568,200.
If you’re wondering how detached home prices are doing in Calgary, we looked at which areas of Calgary saw the biggest price declines.
You can find the CREB’s full July 2026 report online.