What September's numbers mean for buyers and sellers heading into fall. Figures are CREB's September 2026 results, released October 1.
If you've been reading the headlines about Calgary home sales dropping, here is the part most of them skip. The market didn't slow down evenly. It split. Detached sales were up 4% from last September, while condos and townhomes kept sliding.
September closed with 1,650 sales citywide, down about 4% from September 2025. New listings fell harder, down 11% to 3,354, and inventory eased 6% to 6,486 homes. That puts Calgary at 3.93 months of supply and the citywide benchmark price at $566,700, down 0.8% from a year ago.
Here is a detail worth noticing. The average sale price rose almost 5% to $646,198 even as the benchmark slipped. Part of that is mix. Detached homes made up 54% of September sales, compared with 50% a year earlier, and detached homes sell for more. So the headline number and what your street is doing can be two different things.
For the year so far, Calgary has recorded 16,291 sales, down about 10% from the same stretch of 2025.
The Bank of Canada held its policy rate at 2.25% on September 2, the seventh decision in a row without a change. Prime sits at 4.45%. The next announcement is October 28.
The Bank's policy rate has held steady, but your mortgage options still depend on the lender, your down payment and your financial situation. Before setting your budget, get a current quote rather than relying on an advertised rate.
For context, as of October 6, Ratehub was listing five year fixed rates starting at 4.34%, with the next few lenders between 4.59% and 4.84%. Five year variable rates were listed between 3.40% and 3.60%, which is prime minus 1.05% to prime minus 0.85%. These are advertised rates, and eligibility depends on things like your down payment, whether the mortgage is insured and each lender's conditions. Fixed rates follow Government of Canada bond yields rather than the policy rate, so they can move even when the Bank doesn't.
If a payment works for you today, talk to a mortgage broker or your lender about a rate hold, which can protect your quoted rate for a set period while you shop. Terms vary, so confirm the details in writing.
The property type breakdown is where the real story is. Each segment is in a different market right now.
Detached homes are the steadiest part of the Calgary housing market. Sales rose, and the sales to new listings ratio hit 52%, which tells you demand is keeping up with supply. Semi detached homes held their price almost exactly flat year over year.
Row homes and apartments both face price pressure, but they are not the same market. Row supply sits at 4.45 months, so townhome buyers have some room to negotiate. Apartment condos sit at 5.29 months, the loosest of the four segments, and that is where buyers have the clearest advantage. Detached and semi detached homes are in comparatively balanced territory, at 3.31 and 3.67 months. CREB's chief economist pointed to the construction boom of the past three years, which added a lot of apartment and row product, as the reason higher density homes are feeling the pressure on price. Resale condos are now competing with new builds, and buyers know it.
CREB also noted that part of the September price dip is seasonal. After adjusting for the season, prices are relatively stable compared with August.
Where you buy matters as much as what you buy. Two districts held their prices over the past year. West Calgary rose 1.7% to a benchmark of $721,200, and the City Centre edged up 0.2% to $573,100. The weakest were the Northeast, down 6.1% to $461,200, the East, down 4.7% to $390,600, and the North, down 3.3% to $523,000.
Detached homes make the gap even clearer. West Calgary detached benchmark prices rose 2.7% to $993,700, and the City Centre rose 0.7% to $981,300. Supply in the West, South and Northwest runs under three months for detached homes. The Northeast sits above five and a half months, and detached prices there fell 6%. The citywide number does not describe every seller's situation: detached owners in the West and City Centre saw prices rise even as the city as a whole slipped.
A few inner city communities worth knowing:
Keep in mind that many Calgary communities only record a handful of sales in a month, so one sale can swing the percentages. The benchmark price is the steadier number to watch.
Outside the city, Cochrane and Okotoks both had sales up 10% from last year, with benchmark prices holding flat at $575,400 and $606,800. Chestermere also held flat at $690,200. Airdrie was softer, with 115 sales, down 12%, and a benchmark of $505,800, down 4%.
If you're buying an apartment condo, this is where buyers have the clearest advantage right now, and townhome buyers have some room to negotiate too. Condos in September closed at about 96.1% of list price on average, and row homes at 97.4%. That gap is room to work with. Ask for a price reduction, closing costs, or a longer possession date, and don't be afraid to make an offer below asking when a listing has been sitting.
One caution if you're shopping apartments. Falling prices make the paperwork matter more. Read the condo documents, the reserve fund study and the recent minutes before you write an offer, because a building that has deferred maintenance can cost you more than the discount you negotiated.
If you're buying a detached home in the West, South or Northwest, expect the opposite. Supply there is under three months, so well priced homes in good condition still draw competition. Have your pre approval ready and be prepared to move quickly on the right one.
On financing, get pre approved and ask about a rate hold. A hold can protect your quoted rate for a set period while you shop, though the terms vary by lender.
Homes across Calgary sold for about 97.4% of list price on average in September, after 44 days on the market. Detached homes did better, selling at 97.9% in 38 days. Apartments sold at 96.1% and took 55 days. The more your property looks like what buyers have plenty of, the more your pricing and presentation have to do the work.
If you're selling a detached home, price it where recent sales say it belongs from day one. Detached sales equalled 52% of new listings in September, so demand is there, but it rewards homes that are priced and prepared well. The first two weeks matter most, because that is when a new listing gets the most attention.
If you're selling a condo or townhome, buyers will compare your place against new construction and other listings. If your home is priced above comparable options, buyers have less reason to choose it. Strong presentation helps, but it needs to be supported by a price that reflects today's competition.
If you're not sure where your home sits, ask for a pricing review based on sold homes in your own community from the last 60 to 90 days. That tells you far more than a citywide average.
Calgary is not one market right now. Detached homes are holding steady, semi detached homes are flat, and condos and townhomes are giving buyers real leverage. The Bank's rate is on hold, but your own mortgage options depend on the lender and your situation, so the best move depends on the property type, the community and your timeline, not the headline numbers.
If you want the numbers for your own street, building or price range, send me a message and I'll pull the recent sales in your community and walk you through what they mean.
Is Calgary a buyer's market right now? It depends on the property type. Apartments (5.29 months of supply) and row homes (4.45 months) lean toward buyers. Detached homes sit at 3.31 months, which is balanced, and tighter than that in West, South and Northwest Calgary.
Are Calgary home prices going down? The citywide benchmark price was $566,700 in September, down 0.8% from last year. Detached homes are down 1.0%, semi detached homes are up 0.1%, row homes are down 5.5% and apartments are down 8.3%.
Will mortgage rates go down? The Bank of Canada has held its rate at 2.25% for seven straight decisions, and its next announcement is October 28. Fixed mortgage rates follow bond yields rather than the Bank's rate, so what you are offered depends on the lender, your down payment and your situation. Get a current quote.
Is it a good time to sell a home in Calgary? Detached sellers have the strongest position, with homes selling in about 38 days at 97.9% of list price. Condo and townhome sellers can still sell well, but pricing has to match today's market.
Market figures come from CREB's September 2026 monthly statistics packages for the City of Calgary and region, released October 1, 2026. Mortgage rates are from Ratehub five year fixed and Ratehub five year variable, as of October 6, 2026. The Bank of Canada decision and next announcement date are from RBC's interest rate summary.
This is general market information, not financial advice. Mortgage rates vary by lender and borrower, so confirm with a mortgage professional.
Written by
Itxy-Ming LoveTiger
REALTOR® at IAMLOVETIGER Real Estate, REAL Broker
Calgary’s Powerhouse Realtor. Inner-city specialist serving Killarney/Glengarry, Hillhurst, Altadore, South Calgary and beyond. Licensed with REAL Broker, member of CREB / Pillar 9 and CREA.
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