The Calgary Real Estate Board (CREB) says 2,162 homes were sold in May, a drop of 16 per cent from the same month last year. According to the boarxd, the benchmark price for a residential home in the city was $570,500 last month, up from April’s levels, but still three per cent lower than last May. CREB says most of May’s monthly gain was driven by detached homes, which saw benchmark prices rise from $724,000 in January to $747,800 in May. “More supply choice in the new and rental markets has created a more competitive environment for potential buyers. At the same time, concerns over rising cost of living and slower migration are also weighing on consumers,” said Ann-Marie Lurie, the board’s chief economist, in a news release. “While this has caused the overall resale market to shift to a balanced state, the supply pressure is having a more prevalent impact for apartment-style units, where conditions are favouring the buyer. This is also impacting price movements, with apartment prices continuing to trend down and other property types reporting a seasonal lift over the winter months.” The benchmark price of an apartment condominium dropped to $300,400, nine per cent below last year’s price. The benchmark for semi-detached was up slightly to $691,100, while the benchmark price for a row home was $422,300. Inventory has risen from the start of the year, reaching 6,752 units. Looking to purchase a lavish new home? Here are the city’s five most expensive already-constructed residential homes for sale as of May 1, 2026, according to Realtor.ca: $13.5M mansion on Crescent Road Calgary’s most expensive home for sale is a mansion sitting on a prestigious stretch of road in the city’s northwest. The 8,700-square-foot home was built in 2022 by Maillot Homes and features six bedrooms (four above grade and two below), 10 bathrooms and three half-baths. The home is on Crescent Road N.W, in the community of Rosedale, and features an unobstructed view of the city’s downtown skyline. The outside of the mansion is clad in white Turkish limestone, while the inside was decorated by Julie Lanctot at Paul Lavoie Interior Design, who took inspiration from Alice in Wonderland. The 2.5-storey home is located at 732 Crescent Road N.W. and has annual property taxes of $49,380.61. It has been listed on Realtor.ca for 382 days. $9.3M manor in Aspen Woods Built in 2006, this Aspen Woods home is 6,438 square feet and sits on a landscaped 36,155-square-foot lot. “The property offers a rare combination of scale, craftsmanship, privacy and location,” states the listing. “Constructed to an uncompromising commercial standard seldom seen in residential properties today, the residence was designed to evoke timeless old-world elegance while seamlessly incorporating modern luxury and convenience.” The home has six bedrooms (three above ground and three below) and nine bathrooms – including two half-baths. It has an Irish pub-inspired bar, media room, hot tub sunroom and an elevator servicing all levels. The backyard includes more than 1,200 square feet of patio space designed for grand-scale entertaining. There’s also a separate 1,000-square-foot carriage house above the two-level, seven-car garage, connected to the main residence by an enclosed galleria. “Ideally suited for a caregiver, extended family accommodation, private guest quarters or a dedicated house manager’s residence,” says the listing. The two-storey home is located at 6 Aspen Ridge Lane S.W. and has annual property taxes of $30,777.89. It has been listed on Realtor.ca for one day. $8M Eagle Ridge Mansion Built in 1988, this Eagle Ridge home is 7,631 square feet with five bedrooms (four above ground and one below) and eight bathrooms – including three half-baths. It boasts a gated, heated driveway leading to a triple car garage, in addition to an underground parkade that can fit eight more vehicles – complete with a car wash and workshop. “Timeless in design and uncompromising in craftsmanship, this bespoke neoclassical estate ranks among the city’s most distinguished residences,” states the listing. The two-storey home is located at 126 Eagle Ridge Dr. S.W. and has annual property taxes of $48,577. It has been listed on Realtor.ca for 212 days. $7.25M Eagle Ridge bungalow This gated home in Eagle Ridge sits on a sprawling double lot. Built in 1971, the home has four above-grade bedrooms and one below grade, plus seven bathrooms. “Once you step inside past the hand-chiselled walnut doors, you are greeted by a grand foyer that sets the tone for the splendor that awaits,” states the listing. “The main rooms are nothing short of magnificent, boasting expansive dimensions and exquisite finishes.” The home may be of interest to culinary enthusiasts due to its walk-in cooler, gas cooktop, double ovens and commercial-grade appliances. “Whether you’re hosting a grand gala or preparing an intimate meal for loved ones, this culinary haven is sure to impress.” The bungalow is located at 40 Eagle Ridge Pl. S.W. and has annual property taxes of $31,148. It has been listed on Realtor.ca for 263 days. $6.5M Bel-Aire bungalow This Bel-Aire bungalow was built in 1972 and is more than 4,000 square feet. It comes with three bedrooms (and two below grade) plus seven bathrooms and two partial baths. According to the listing, the main level of the home offers a blend of “elegance and comfort,” featuring a spa-quality ensuite bathroom. In the basement, there’s a wine cellar and a theatre. The single-storey home is located at 1020 Bel-Aire Dr. S.W. and has annual property taxes of $18,293. It has been listed on Realtor.ca for 125 days.
