Calgary’s townhouse and apartment sales drop hard as supply piles up

THREAT · Builders & Developers · Multi-Family & Attached Housing

CREB’s July data shows Calgary’s attached segments under real pressure. Row and townhouse sales fell 22.9% year-over-year to 286 units with the benchmark price down 6.1% to $418,500, while apartment sales dropped 19.8% to 408 units with the benchmark down 8.4% to $297,600 — roughly 13% below the 2024 peak. Detached held up far better, with the benchmark easing just 1.9% to $743,900 (Global News).

CREB chief economist Ann-Marie Lurie pointed to the cause: “There’s just so much supply choice, not just on the resale, but the resale, the new, plus there’s a lot more rental supply.” More than 17,000 apartment units remain under construction in the city, which will keep pressure on the segment well into 2027.

What it means: In an oversupplied attached market, product no longer sells itself — projects that sharpen their positioning, target the right buyer segments, and out-communicate the building next door will take a disproportionate share of a shrinking pool of transactions.