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.

Sales and New Listings Slow as Market Conditions Vary by Property Type

Calgary’s housing market continued to slow in August, with both sales and new listings declining compared to last year. However, conditions remain highly dependent on property type, location, and price range.

Calgary recorded 1,660 home sales in August, down 16% year-over-year, while 3,141 new listings came onto the market, nearly 10% lower than last year.

Interestingly, the slowdown has not affected every price range equally. Homes priced above $1 million recorded stronger sales compared to last year, primarily within the detached and semi-detached segments. At the lower end of the market, favourable rental conditions appear to be reducing some of the urgency for renters to transition into homeownership.

Inventory declined to 6,509 units, lower than both July and August 2025. However, because sales slowed more significantly, the overall months of supply increased to nearly four months.

The result is a market that looks relatively balanced overall, but tells a very different story depending on what type of property you are buying or selling.

Overall Market Trends

The total residential benchmark price was $569,800 in August, relatively unchanged from July and approximately 1% lower than last year.

The biggest difference continues to be between lower-density and higher-density housing.

Detached and semi-detached homes remain relatively balanced, helping keep prices stable. Row homes are experiencing softer conditions, while apartment condominiums continue to face significant oversupply.

Current conditions range from just over three months of supply for detached homes to nearly six months for apartment condominiums.

Detached Homes

Detached homes remained relatively balanced in August despite slower sales.

• Sales: 875

• New Listings: 1,635

• Months of Supply: Over 3 months

• Benchmark Price: $744,300

• Year-over-Year: Down approximately 1%

Conditions vary considerably across Calgary. The North West, West, South, and South East remain below three months of supply, while the North and North East have more than four months.

These differences are also showing up in prices. The West and City Centre recorded year-over-year gains of more than 2%, while the North East experienced the largest decline at more than 6%.

Semi-Detached Homes

Semi-detached properties also remained relatively stable.

• Year-to-Date Sales: 1,516

• Sales-to-New-Listings Ratio: 56%

• Months of Supply: Over 3 months

• Benchmark Price: $690,500

• Year-over-Year: Up nearly 1%

Although supply increased relative to demand, conditions remain relatively balanced. Price gains in the City Centre, North West, and West helped offset declines elsewhere in Calgary.

Of the major property types, semi-detached homes continue to show some of the strongest price stability in 2026.

Row Homes

Row homes continue to experience softer market conditions as buyers benefit from more options in both the resale and new-home markets.

• Year-to-Date Sales: Down 15%

• Months of Supply: Approximately 4 months

• Benchmark Price: $415,200

• Year-over-Year: Down 5%

Prices have declined across every district, although the size of the adjustment varies significantly.

The North East experienced the steepest decline at more than 12%, while the North West saw a much smaller adjustment of just over 1%.

With inventory remaining elevated relative to demand, sellers in this segment are facing increased competition.

Apartment Condominiums

Apartment condominiums continue to experience the greatest supply pressure in Calgary.

• Year-to-Date Sales: Down 26%

• Months of Supply: Nearly 6 months

• Benchmark Price: $295,400

• Year-over-Year: Down 8%

More rental availability is reducing ownership demand from both first-time buyers and investors. Although new listings have also declined, the reduction has not been enough to bring the market back into balance.

Apartment prices peaked at $341,300 in August 2024 and are now nearly 13% below that peak.

For buyers, the elevated supply means more selection and potentially greater negotiating power. Condo sellers, meanwhile, are competing in one of the most buyer-friendly segments of Calgary’s current housing market.

Regional Market Highlights

Airdrie

Inventory remains elevated compared to historical trends, although fewer new listings have helped prevent further inventory growth.

• Benchmark Price: $508,800

• Month-over-Month: Down 1%

• Year-over-Year: Down over 4%

Higher-density properties are experiencing some of the largest price adjustments.

Cochrane

Cochrane saw improved sales in August, helping bring supply back down to just over three months.

Despite stronger activity, prices continued to soften and the total residential benchmark price was approximately 2% lower than last year.

Okotoks

Okotoks continues to experience tighter supply than Calgary and many surrounding communities.

With a sales-to-new-listings ratio of 81% and just over two months of supply, inventory remains relatively limited.

• Benchmark Price: $608,400

• Year-over-Year: Down nearly 2%

Chestermere

Chestermere stands out for significantly higher supply.

The sales-to-new-listings ratio fell below 30%, while months of supply climbed to approximately nine months. These buyer-favouring conditions continue to place downward pressure on prices, which are now more than 1% below last year.

Market Outlook

August reinforces a trend that has developed throughout 2026: there is no single Calgary housing market right now.

Detached and semi-detached homes remain relatively balanced, with some districts continuing to show strong price stability. Row homes are experiencing more competition, while apartment condominiums remain firmly in buyer’s market territory due to elevated supply.

At the same time, stronger activity for properties priced above $1 million shows that demand has not weakened equally across every segment.

For buyers, particularly those considering condos and row homes, increased selection may provide more negotiating opportunities. For sellers, understanding the conditions for your specific property type, price range, and neighbourhood is increasingly important when determining pricing and marketing strategy.