(Peace Bridge in Calgary/Canva)

Home sales in Calgary slowed in January, with the biggest drop seen in higher-density housing, according to new figures from the Calgary Real Estate Board (CREB).

The board reported 1,234 residential sales last month, down 15 per cent from January 2025, but in line with what is typically seen at the start of the year, said CREB. Sales fell across all property types, with apartment and row-style homes recording the steepest declines.

Prices were also lower than a year earlier, dipping nearly five per cent to $554,400.

“Following the typical December slowdown, potential buyers for high-density homes were more hesitant to return to the market in January, as increased supply choice across all aspects of the market has reduced the sense of urgency,” said Ann-Marie Lurie, CREB’s chief economist.

“At the same time, sellers were quick to bring their listings onto the market, causing the sales-to-new-listings ratio to drop to 44 per cent, mostly due to shifts in apartment and row-style homes. Overall, this is not entirely uncommon for January, as both buyers and sellers weigh their options ahead of the spring market.”

Inventory rises, especially in apartments

More new listings than sales pushed inventory higher, with 4,391 homes (up 20 per cent year-over-year) on the market at the end of the month, the highest level for January since 2020.

Conditions continued to vary by property type. Apartment and row-style homes saw higher inventory levels than usual, while the detached market remained relatively tight.

That gap showed up in months of supply, which ranged from under three months for detached homes to about five months for apartments, suggesting more choice for buyers in higher-density inventory. The average months of supply across all property types was 3.56, up 41 per cent from January 2025.