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Sales picked up in February compared to January, reaching 270 units. Meanwhile, after January’s surge in new listings, levels slowed to 491 units, helping bring the sales-to-new-listings ratio into more balanced territory at 55 per cent. While inventories did rise, the monthly gains in sales helped reduce the months of supply from over four months in January to just over three months in February.

The unadjusted benchmark price rose to $423,600 in February, in line with typical seasonal expectations. While prices are still five per cent lower than last February, there is significant variation between districts. The steepest year-over-year declines have occurred in the North East and East districts at over 10 per cent. Meanwhile, prices in both the West and City Centre are only slightly lower than levels reported last February.

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Despite a pullback in new listings in February, with 753 new listings and 345 sales, the sales-to-new-listings ratio remained low at 46 per cent, contributing to further inventory gains. February reported 1,580 units in inventory, high enough to keep the months of supply well over four months. The persistently higher supply levels continued to weigh on prices in February, as the monthly benchmark price dropped to $298,600, nearly one per cent below January and over nine per cent lower than prices reported last February.

Conditions do vary across the city. After the first two months of the year, the months of supply have ranged from over 11 months in the North East to below four months in the South district. The higher supply levels are weighing on prices across all districts. The largest year-over-year price adjustments have occurred in the North East, East and South East districts, which have seen declines surpassing 10 per cent.

Sales and new listings totalled 122 and 236 units, respectively, in February, causing the sales-to-new-listings ratio to rise to 52 per cent. At the same time, inventories increased slightly over the previous month and last year, pushing above long-term trends. However, with just over three months' supply, conditions are considered relatively balanced. The unadjusted benchmark price was $512,200 in February, similar to the previous month, but still five per cent lower than last year's levels. Increased competition from the new home sector, along with increased supply choice in both Calgary and other surrounding areas, has contributed to some of the price adjustments that have occurred in Airdrie.

The gains in sales in February helped offset the new listings in the market. With 91 sales and 154 new listings, the sales-to-new-listings ratio rose to 59 per cent, preventing any significant shift in inventory levels. This caused the market to shift toward more balanced conditions with three months of supply. As of February, the total residential benchmark price was $553,500, slightly higher than January, but due to pullbacks mostly in the third quarter of 2025, prices remain three per cent lower than last February.

Sales in February slowed compared to new listings that came onto the market, causing the sales-to-new-listings ratio to fall below 60 per cent. This helped support some inventory gains in Okotoks for the month. However, inventory levels remained well below long-term trends and with under three months of supply, conditions remain relatively tight. The tighter conditions have once again contributed to some monthly gains in prices beyond what’s typically seen early in the year. As of February, the unadjusted benchmark price was $612,300, a two per cent gain over January and similar to levels reported last year.