Calgary Real Estate Market Update September 2026
September feels different this year. If you've been watching the Calgary market, you've probably sensed the shift. Buyers have more breathing room than they did a year ago, sellers are adjusting their expectations, and the story looks quite different depending on what type of home you're talking about. Here's what the latest numbers actually show and what they mean if you're making a move right now.
Key Takeaways
Sales dropped 16.4% year over year while new listings fell only 9.7%, leaving more supply relative to demand
Months of supply citywide reached 3.92, a shift toward balance after years of strong seller conditions
The citywide benchmark price sits at $569,800, down 1.1% year over year
Detached and semi-detached homes remain relatively balanced; apartments have shifted firmly toward buyers
Apartment benchmark prices are down 8.2% year over year, with nearly 5.7 months of supply
Row homes have seen the steepest price drops in some districts, down over 12% in the Northeast
Buyers with flexibility are negotiating more; buyers who need to move are still acting quickly on the right home
Sellers pricing against 2024 peaks are sitting; well-prepared, correctly priced homes are still moving
What Do Calgary's Latest Market Numbers Show?
The August 2026 CREB statistics are the most complete data available as we enter September. CREB releases finalized numbers from the previous month, so August's verified figures are what we're working from.
Metric | August 2026 | Year Over Year |
|---|---|---|
Sales | 1,660 | -16.4% |
New listings | 3,141 | -9.7% |
Inventory | 6,509 | -2.3% |
Months of supply | 3.92 | +16.9% |
Benchmark price | $569,800 | -1.1% |
Days on market | 41 | +7.2% |
Fewer listings came to market, but sales slowed even faster. That gap is why inventory and months of supply both crept up. Homes are also taking longer to sell, averaging 41 days before a deal gets done.
A months-of-supply figure between three and four is generally balanced territory. Below two favours sellers strongly; above four starts to shift leverage toward buyers. Calgary as a whole sits right in the middle, though that average hides some real differences by property type and location.
How Do Market Conditions Differ by Property Type?
The citywide number is a starting point, not the full picture. What you're buying or selling shapes your reality far more than any headline figure does.
Property Type | Sales | Inventory | Supply | Benchmark | Annual Change |
|---|---|---|---|---|---|
Detached | 875 | 2,969 | 3.39 months | $744,300 | -1.1% |
Semi-detached | 168 | 555 | 3.30 months | $690,500 | +1.0% |
Row | 284 | 1,094 | 3.85 months | $415,200 | -5.4% |
Apartment | 333 | 1,891 | 5.68 months | $295,400 | -8.2% |
Detached Homes Remain Relatively Balanced
At 3.39 months of supply, detached homes are the steadiest segment right now, though the district you're in changes things considerably.
The Northwest, West, South, and Southeast are sitting below three months, meaning competition is still real and well-priced homes move. The North and Northeast are above four months, giving buyers noticeably more room. Prices reflect that split: West and City Centre saw annual gains above 2%, while the Northeast saw declines exceeding 6%.
Semi-Detached Homes Hold Relatively Stable
Semi-detached is the quietest story in the data right now. At a $690,500 benchmark and just 3.30 months of supply, it's the closest thing to equilibrium across all property types. City Centre, Northwest, and West are actually showing positive annual price movement here, which tells you demand for well-located alternatives to detached hasn't gone away.
Row Homes Face More Supply Competition
Row homes are under more pressure than the surface number suggests. The 5.4% annual price decline reflects more resale supply competing alongside new construction and rental options. If you're selling a row home and still pricing against what similar properties achieved in 2024, today's increased competition may be one reason it's taking longer to sell.
District variance is wide: declines range from around 1% in the Northwest to over 12% in the Northeast. Where your row home is located matters more in this segment than most.
Apartment Condos Offer Buyers More Leverage
Apartments are where buyers have the most room right now. At 5.68 months of supply and a benchmark of $295,400, down 8.2% year over year and sitting close to 13% below the August 2024 peak, this segment has clearly shifted.
Price is only part of the conversation, though. Something I hear from condo buyers consistently is that the condition of the unit matters just as much as the number on the listing. They also want to know how the building is being managed. A well-run building with an engaged condo board and a healthy reserve fund is a very different purchase than one where those things have been neglected, even if the asking price looks attractive.
Before writing an offer on a condo, pay attention to:
Condo documents: Meeting minutes, bylaws, and financials reveal how the building is actually run
Reserve fund status: Is it adequately funded for future repairs and maintenance?
Special assessments: Have there been recent ones, or are any anticipated?
Owner-to-renter ratio: Heavier investor ownership can affect financing, building culture, and resale value
Unit condition: Fresh finishes are easy to spot. Deferred maintenance is worth looking harder for
Is Calgary a Buyer's or Seller's Market?
Honestly, it depends on what you're buying and where.
Detached and semi-detached homes in well-located neighbourhoods are still largely balanced. Row homes are under more pricing pressure. Apartments have shifted toward buyer-favouring conditions by most measures. A northwest detached home and a northeast apartment are operating in completely different conditions.
The Bank of Canada held its policy rate at 2.25% on September 2, which has kept borrowing costs stable.
What Does the September Market Mean for Buyers?
What I'm hearing from buyers this fall is pretty consistent. Those who have flexibility and aren't in a rush are taking their time and expecting to negotiate. Buyers who genuinely need to move, whether for work, school, or family, are still acting quickly when the right home comes up. Both approaches make sense right now depending on your situation.
A few things worth keeping in mind:
Compare active listings, not just recent sales. You're competing against what's on the market today, not what sold six months ago
Know your segment. Negotiating room in an apartment is a different conversation than buying a detached home in Signal Hill or Royal Oak
Don't assume a well-priced home will wait. Correctly priced, well-prepared homes in tighter districts are still moving.
What Does the September Market Mean for Sellers?
The most consistent thing I'm seeing right now is sellers pricing against a market that no longer exists. 2024 was a strong year. Some sellers are still anchored to those numbers, and their homes are sitting while better-positioned listings get the attention and the offers.
I've said this to clients directly: buyers today are more selective, and they notice everything. The listings that earn the most showings are the ones where the sellers took the time to fix the little things before going to market. Buyers walk through and either feel confident in the home's overall presentation or they start making a mental list of problems.
What separates the listings that move from the ones that don't:
Pricing reflects current sales, not past peaks
Presentation is clean and complete before launch day
The home is ready to show from the first weekend
Frequently Asked Questions
Why Does the September Market Update Use August Sales Data?
CREB releases finalized statistics from the previous month on the first business day of each new month, so August figures are the most current verified data available when this update was written.
Is the CREB® Benchmark Price the Same as an Average Sale Price?
No. The benchmark represents a typical home in each category, adjusted to remove distortions caused by the mix of properties sold, making it a more stable indicator than average or median price.
Can a Calgary Home Still Receive Multiple Offers in a Balanced Market?
Yes. When a home is priced correctly, well-prepared, and in a district with limited inventory, multiple offers still happen, even in a softer overall market.
How Closely Do Citywide Statistics Reflect a Specific Community?
Not always closely. Rocky Ridge and Martindale can be operating in very different conditions in the same month, so pricing and strategy are better built from community-level data than citywide averages.
How Often Should Buyers and Sellers Review Calgary Market Data?
Any time a pricing, timing, or negotiation decision is on the table. Monthly statistics are a useful baseline, but conditions in specific neighbourhoods and price ranges can shift faster than the monthly reports reflect.
Thinking About Buying Or Selling In Calgary?
Citywide statistics are useful, but your neighbourhood, property type and price range can tell a very different story.
If you're considering buying or selling and want to understand what the current market means for your specific situation, feel free to reach out. I'm happy to take a closer look at the numbers with you.
Emin Ozkan
Calgary Realtor | RE/MAX Complete Realty
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