Welcome to another edition of our bi-annual market report. Here, you will find an update on current real estate market conditions, as well as stats on the rental market and other key economic indicators for our city. We will also be taking a closer look at ongoing large-scale developments happening around the City. We hope you enjoy the read!
- Frances, Thomas, & Team
MID-YEAR HOUSING MARKET UPDATE: SHIFTING TOWARD BALANCE
Courtesy of the Calgary Real Estate Board (CREB)Â
EMPLOYMENT
Employment numbers have come in better than expected through the beginning of 2026.
POPULATION
Although migration has slowed from the peak levels seen from 2022-2024, Alberta is still seeing the highest population growth in Canada.
NATIONAL OVERVIEW
Here, a comparison between Calgary and other major Canadian real estate markets. While shifts are occurring in our market, conditions are faring better than some of the other large cities in the country. Much of this is related to the slower but still positive migration into the city and continued job growth. Moving forward, stable economic conditions are expected to support demand that is more aligned with longer-term trends.
GREATER CALGARY AREA
Here, a comparison of how Calgary is faring compared to surrounding towns and rural areas.Â
2026 YEAR-TO-DATE MARKET UPDATE
Courtesy of the Calgary Real Estate Board (CREB)Â
Calgary continues to see diverse market conditions across product type and location. While almost all properties have seen price adjustments year over year, a handful of markets have experienced small price gains. Hardest hit have been the townhome and apartment sectors, which have seen the most significant price adjustments, although these adjustments vary based on location.Â
YTD NEW INFILLS REVIEW
The single family new infill sector has remained steady so far through 2026 comparing to 2025. That said, sales activity has cooled significantly compared to 2023 and 2024, in line with overall market trends across Calgary. Pricing does vary across product type and location, with some areas seeing growth and others softening.
The new infill townhome sector has continued to cool through the first half of 2026, with lower sales and increasing inventory levels compared to the past few years. Townhome buyers have proven to be quite price-sensitive, with many choosing to save up for single family, or look for best value at the lower price ranges.
CALGARY DEVELOPMENT SPOTLIGHT
The Calgary Stampede has partnered with the Calgary Municipal Land Corporation (CMLC) to update the 2004 Master Plan for Stampede Park. The revised plan envisions Stampede Park as a year-round destination and supports Calgary's Culture and Entertainment District. It incorporates two decades of investments and key projects, including the BMO Centre Expansion and the greening of Elbow River Park.
The updated master plan includes:
1. An Agriculture & Animal Facility
2. A Discovery & Heritage Zone
3. A Live Events Zone
4. A Multipurpose Venue
5. A Stampede Gateway
6. An Outdoor Flex Space
7. A Stadium & Track
3. A Live Events Zone
4. A Multipurpose Venue
5. A Stampede Gateway
6. An Outdoor Flex Space
7. A Stadium & Track
The master plan process spanned 18 months and included consultation with a broad range of interest-holders including the Calgary Stampede’s operational, agriculture and events teams, community partners, district landowners and civic partners. Today, with nearly $2-billion in projects already completed or underway in The C+E, the plan also integrates the vision of projects currently underway in the district and helps shape the future of Stampede Park today.
Source:
After being largely vacant for over a decade, the area around Calgary's Westbrook LRT Station is set for redevelopment.Â
The City of Calgary is currently in the process of creating a master plan and seeking public feedback before construction begins in 2029. Proposed features include non-market housing, public parks, retail plazas, and mid- to high-rise buildings.Â
Community interest is high, with residents eager for progress but seeking clarity on density, park design, and traffic management.Â
The plan is projected to be ready for public hearing in Fall 2026. If approved, construction for the site will begin in 2029.
Source:
MAKING HEADLINES
The City Council voted to officially approve the repeal of blanket rezoning on April 8, 2026, with the repeal coming into effect on August 4th, 2026.Â
What was Approved?
City Council approved amendments to the Land Use Bylaw that restored the low-density residential zoning districts that existed prior to the blanket rezoning. They also voted to amend the R-CG bylaw. These changes include:
1. Reverting a large portion of residential land (300,000+ parcels) to lower-density zoning like RC1 and RC2;
2. Reverting rule changes made under “Rezoning for Housing” regarding suites such as no longer allowing both a secondary suite and a backyard suite, no longer permitting backyard suites on semi-detached homes. and requiring parking once again for backyard suites.Â
3. Amending the R-CG zoning bylaw to lower maximum height allowances and lot coverage, and limiting zero-lot line development. Interestingly, other proposed changes to lower maximum density to 3 upper units and to prevent mid-block development were not approved.Â
How Do I Know What Can Be Developed in My Area?
To confirm current zoning for a property, visit the City of Calgary rezoning page and enter the address:
Under R-C1 zoning: Generally, only ONE single-family home may be built (depending on lot size)
Under R-C2 zoning: Only TWO single-family homes or ONE semi-detached home may be built (depending on lot size)
Townhomes and multi-family developments are NOT allowed under R-C1 or R-C2, so in order for this type of density to be built, the property must first be successfully rezoned.Â
A New Focus on Area Redevelopment Plans?
An Area Redevelopment Plan (ARP), also known as Local Area Plan (LAP), is a plan for an existing community that is in the process of redeveloping. An ARP typically focuses on land use, urban design, means of transportation, community amenities and parks and open space.
Calgary has a number of Local Area Plans (LAP) meant to guide development and density throughout our city and help inform Calgary council decisions on rezoning applications.Â
Learn more about your LAP online at:Â https://www.calgary.ca/planning/local-area.html
If you would like to read more about the finalized repeal, you can do so on our blog here:Â https://www.urbanupgrade.ca/blog/102023/repeal-of-blanket-rezoning-in-effect
AGENT SPOTLIGHT
One of our fantastic agents answers a few questions
1. What do you love most about working in real estate?
I love that every transaction combines relationships, problem-solving and strategy. Whether I’m helping someone find the right home, positioning a property for sale or analyzing a development opportunity, I enjoy working through the details and helping people make confident decisions.
2. What are your top tips for a smooth and successful home sale?
Preparation matters. Address any items that will affect your first impression, and ensure your home presents its best to buyers. Pricing also needs to reflect a home’s specific neighbourhood, property type and competition, not simply a citywide headline. Once listed, make the home easy to show, listen carefully to market feedback and be prepared to adjust if the evidence tells you something has changed.
3. What do you think about investing in real estate in Calgary?
I continue to believe in Calgary’s long term potential, but this does not mean every property is a good investment. I prefer to start with the numbers: acquisition cost, realistic revenue, renovation or construction expenses, financing, carrying costs, contingency and the eventual exit strategy. Location and redevelopment potential can create long-term value, but an investor should be able to explain why a particular property works without relying entirely on future appreciation.
Want to learn more about our agents?
Read everyone's full bios on Our Team page!
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