Key Takeaways
- Calgary sold 1,650 homes in September 2026, nearly four per cent lower than September 2025, as new listings rose and the sales-to-new-listings ratio fell to 49 per cent.
- Detached homes remained in balanced territory with sales up year over year and prices down one per cent, while apartments and row homes faced buyer market conditions with price declines of six to eight per cent.
- Months of supply held at just under four months overall, but higher-density segments carried more inventory due to three years of construction focused on apartments and row homes rather than detached properties.
- The residential benchmark price stood at $566,700 in September 2026, nearly one per cent lower than a year earlier, with most price adjustments concentrated in higher-density units.
- Detached price declines were driven by the North East, East and North districts, while apartments and row homes saw city-wide softening as new supply continued to enter the market.
Calgary's housing market in September 2026 tells two distinct stories depending on the type of home you are buying or selling. Detached properties held steady, with sales rising year over year and balanced market conditions, while apartments and row homes faced softer demand and steeper price adjustments as the supply added during the recent construction boom worked its way through the system. For buyers, the split creates clear trade-offs between property types; for sellers, it means strategy depends heavily on what you own.
Sales and Listings: A Market Cooling Unevenly
Calgary recorded 1,650 home sales in September 2026, nearly four per cent lower than the same month in 2025. New listings rose from August levels, pushing the sales-to-new-listings ratio down to 49 per cent and signalling that supply was outpacing immediate demand. Inventory remained relatively stable compared with August, and months of supply held at just under four months, a level that typically indicates balanced conditions.
But the aggregate figures mask divergence by property type. Detached homes remained in balanced territory, with supply and demand in rough equilibrium, while apartments and row homes faced buyer market conditions as higher inventory levels gave purchasers more choice and negotiating leverage. The difference traces back to where builders focused their efforts over the past three years: the construction boom was driven by gains in higher-density sectors, significantly increasing the supply of apartment and row-style homes, while detached homes did not see the same boost.
Ann-Marie Lurie, Chief Economist at the Calgary Real Estate Board, noted that a stronger job market and slower but positive net migration kept housing demand strong enough to absorb some of the new supply, but not enough to offset the volume of high-density units added to the market.
Prices: Detached Holds, Higher-Density Segments Adjust
The residential benchmark price in September 2026 stood at $566,700, nearly one per cent lower than September 2025. Seasonally adjusted figures showed prices relatively stable compared with August, and unadjusted monthly declines are not unusual as the market moves through fall. Most price adjustments occurred in higher-density row and apartment-style units, where year-over-year declines reached eight per cent for row homes and six per cent for apartments.
Detached prices fell one per cent year over year, with declines concentrated in the North East, East and North districts. The more modest detached price movement reflects balanced market conditions and the fact that detached supply did not grow at the same pace as higher-density inventory.
| Property Type | Year-Over-Year Price Change (September 2026 vs September 2025) |
|---|---|
| Detached | One per cent lower |
| Row Homes | Eight per cent lower |
| Apartments | Six per cent lower |
For buyers, the data shows where negotiating power lies. Apartments and row homes offer the steepest price adjustments and the most inventory to choose from, while detached homes remain in balanced territory with more modest year-over-year declines. For sellers, the message is equally clear: detached properties benefit from steadier demand, while higher-density sellers face a market where buyers have more options and less urgency.
What It Means for Buyers, Sellers and Investors
If you are buying a detached home in Calgary, you are entering a balanced market where supply and demand are roughly aligned. Prices are down one per cent year over year, and sales are rising, so you will face competition but not the bidding wars that characterize a seller's market. Apartments and row homes, by contrast, are in buyer territory: with six to eight per cent price declines and higher inventory, you have more room to negotiate and more time to make a decision.
Sellers of detached homes benefit from balanced conditions and rising sales, but should be aware that price gains are not on the table—holding value is the realistic goal. If you are selling an apartment or row home, you are competing with a larger pool of listings, and pricing competitively from the start will be more important than it would be in a tighter market. The supply pressures that have driven prices down in higher-density segments are structural, not seasonal, and are unlikely to reverse quickly.
Investors looking at rental properties should note that apartments and row homes are seeing the largest price declines and the most favourable buyer conditions, which may create entry points. However, the same supply pressures that are pushing prices down may also affect rental yields in those segments, as more units compete for tenants. Detached homes, with more stable pricing and balanced conditions, may offer steadier returns but at a higher entry cost.
Renanza's Calgary market overview provides additional context on neighbourhoods and property types, and you can explore current Calgary listings to see how these trends play out across the city.
District and Neighbourhood Considerations
Detached price declines were driven by the North East, East and North districts, suggesting that those areas saw either weaker demand or more new supply than other parts of the city. If you are buying or selling in those districts, it is worth understanding whether the price movement reflects neighbourhood-specific factors or broader market dynamics. Neighbourhoods such as Arbour Lake and Altadore each have distinct characteristics that influence demand, and local supply conditions can vary significantly even within a single district.
Frequently Asked Questions
Why are apartment and row home prices falling faster than detached prices?
The construction boom over the past three years was driven by gains in higher-density sectors, significantly increasing the supply of apartment and row-style homes. Detached homes did not see the same boost, so supply pressures are concentrated in higher-density segments.
Is a sales-to-new-listings ratio of 49 per cent a buyer's market?
A ratio of 49 per cent indicates that new listings are outpacing sales, which generally favours buyers by giving them more choice and negotiating leverage. However, overall months of supply at just under four months suggests balanced conditions city-wide, with the buyer advantage concentrated in apartments and row homes.
Should I wait to buy a detached home if prices are falling?
Detached prices fell one per cent year over year in September 2026, a modest decline that reflects balanced market conditions rather than a sharp correction. Waiting for further declines is a gamble, as demand for detached homes remains steady and supply has not grown at the same pace as higher-density inventory.
What does "balanced territory" mean for detached homes?
Balanced territory means supply and demand are roughly aligned, so neither buyers nor sellers have a strong advantage. Prices are stable, homes sell at a reasonable pace, and negotiations are fair to both sides.
Outlook
Calgary's housing market in the months ahead will likely continue to reflect the divergence between property types. Detached homes are expected to remain in balanced territory as long as supply stays constrained and demand holds steady, while apartments and row homes will face ongoing pressure from the inventory added during the construction boom. Seasonal factors will influence month-to-month price movements, but the structural supply imbalance in higher-density segments is unlikely to resolve quickly.
For buyers and sellers, the key is to recognize that Calgary is not one market but several, and the conditions you face depend heavily on the type of home you are buying or selling. Understanding those differences will help you set realistic expectations and make informed decisions.
If you are considering a move in Calgary, Renanza's team can help you navigate the current market and find the right property or strategy for your goals. Explore our Calgary homes for sale or request a free home valuation to see where your property stands in today's market.
Sources & References
- Calgary Real Estate Board — Detached home sales improve in September (September 2026)
Data last checked: 2026-10-01
