Detached Home Sales Improve While Higher-Density Homes Remain Under Pressure

Calgary’s housing market held relatively steady in September, but the divide between property types continued to widen. Detached home sales improved compared to both August and last year, while elevated supply continued to create buyer-friendly conditions for row homes and apartment condominiums.

September recorded 1,650 home sales, nearly unchanged from August and approximately 4% lower than September 2025. Unlike the typical seasonal slowdown from August to September, stronger detached activity helped keep overall sales stable.

New listings increased from August, pushing the sales-to-new-listings ratio down to 49%. Inventory remained relatively stable, while the overall months of supply stayed just under four months.

The total residential benchmark price was $566,700, nearly 1% lower than last year. However, most of the price pressure continues to come from higher-density housing rather than detached and semi-detached homes.

Overall Market Trends

Calgary continues to be a highly segmented market.

Detached homes remain relatively balanced, supported by stronger September sales and more limited supply growth. Semi-detached properties are also generally balanced, although inventory increased during the month.

Row homes and apartment condominiums tell a different story. Significant construction over the past several years has added considerably more supply to these segments, while buyers also have increased options in the rental and new-home markets.

That difference in supply is increasingly reflected in prices:

• Detached: Down approximately 1% year-over-year

• Semi-detached: Similar to last year

• Row: Down nearly 6%

• Apartment condominium: Down more than 8%

Some month-over-month price declines are also typical as Calgary enters the fall market, but apartment prices continued to decline even after accounting for seasonal trends.

Detached Homes

Detached homes were the bright spot in September.

• Sales: 896

• Year-over-Year Sales: Up more than 4%

• Sales-to-New-Listings Ratio: 52%

• Months of Supply: Just over 3 months

• Benchmark Price: Approximately 1% lower year-over-year

More new listings gave buyers additional options and helped support stronger sales without creating significant oversupply.

Conditions still vary considerably across Calgary. The North West, West and South districts remain below three months of supply, while the North East is approaching six months.

Pricing reflects these differences. Detached values remain higher than last year in the City Centre and West, while the oversupplied North East continues to experience the most significant price declines.

Semi-Detached Homes

Semi-detached homes remain relatively stable, although September brought some signs of softer conditions.

• Year-to-Date Sales: 1,678

• Year-over-Year YTD Sales: Down 2%

• Sales-to-New-Listings Ratio: 45%

• Months of Supply: Nearly 4 months

• Benchmark Price: $685,200

The increase in September listings contributed to higher inventory and pushed months of supply closer to four months.

This is a noticeable change from the tighter conditions seen throughout much of 2026, but one month is not enough to establish a new trend.

Despite the additional supply, benchmark prices remain comparable to September 2025.

Row Homes

Row homes continued to move further into buyer-friendly territory in September.

• Sales-to-New-Listings Ratio: 45%

• Months of Supply: Over 4 months

• Benchmark Price: $412,400

• Year-over-Year: Down nearly 6%

Higher inventory combined with increased competition from newly built properties is putting pressure on the resale market.

Price declines have occurred across every Calgary district, although the size of the adjustment varies significantly. The North East and East districts have experienced declines of more than 11%, while the North West has seen a much smaller adjustment of approximately 2%.

Apartment Condominiums

Apartment condominiums remain the most buyer-friendly segment of Calgary’s housing market.

September sales improved from August, but supply remains high relative to demand.

• Sales: 343

• New Listings: 717

• Sales-to-New-Listings Ratio: 48%

• Months of Supply: Just over 5 months

• Benchmark Price: $291,400

• Year-over-Year: Down more than 8%

The improvement in sales helped prevent another increase in months of supply, but it was not enough to shift the market back toward balance.

Unlike some of the seasonal price adjustments seen elsewhere in September, seasonally adjusted apartment prices continued to decline, showing that oversupply remains a meaningful factor for this segment.

Regional Market Highlights

Airdrie

Airdrie continued to experience softer conditions as buyers gained more options from new construction and competing markets.

Sales are down 13% year-to-date, while months of supply increased to approximately four months.

The benchmark residential price was $505,800, nearly 4% lower than last year, with larger declines occurring among higher-density properties.

Cochrane

Cochrane has continued to record stronger sales than last year, with year-to-date activity up nearly 6%.

However, September brought a significant increase in listings. The sales-to-new-listings ratio fell to 42%, while months of supply increased to approximately five months.

Despite the increase in supply, prices improved from August and remain similar to last year.

Okotoks

Okotoks continues to have some of the tightest conditions among Calgary’s surrounding communities.

With 122 homes in inventory and 56 sales, the market had just over two months of supply in September.

The benchmark residential price was $606,800, essentially unchanged from September 2025 and approximately 1% lower year-to-date.

Chestermere

Chestermere saw an improvement from August as stronger sales helped reduce inventory and bring months of supply back below six months.

New construction and competing supply from surrounding markets continue to influence resale conditions.

The benchmark residential price was $690,200, lower than August but similar to September 2025.

Market Outlook

September highlights just how important it is to look beyond Calgary’s overall market statistics.

Detached homes are showing resilience, with September sales actually improving from last year and balanced conditions continuing across much of the city. Semi-detached homes also remain relatively stable, although rising inventory will be worth watching through the final quarter of 2026.

The biggest opportunities for buyers remain in row homes and apartment condominiums, where higher supply has created more selection, less urgency and greater negotiating power.

For sellers, pricing strategy is becoming increasingly dependent on property type and location. A detached home in the West or North West can face very different market conditions than a condo or row home in an area with significant competing inventory.

As we move through the fall market, understanding the conditions within your specific neighbourhood and property type will be far more useful than relying on Calgary-wide averages alone.