Home sales in Calgary in September reached 1,650 units, little changed from August and down 4% from September last year, according to the Calgary Real Estate Board (CREB). “While September sales typically pull back compared with August, stronger single-family home sales helped prevent the typical seasonal pullback,” says Ann-Marie Lurie, CREB’s chief economist. “At the same time, new listings also rose from August, causing the sales-to-new-listings ratio to fall to 49%, leaving inventory levels relatively stable compared with August.” Active listings represent just under four months of supply, which puts Calgary's market in buyers’ territory. “While the overall market is showing higher supply levels compared with sales activity, conditions vary significantly by property type,” says Lurie. “Single-family properties remain in balanced territory, and the monthly boost in new listings supported gains in sales in September.” “Meanwhile, higher supply levels for apartment and row homes are contributing to buyer market conditions, as demand is spread across more alternatives in the rental and new home markets.” Calgary has been the busiest market in Canada for new home construction over the last three years, with a focus on multi-family homes, which have a lower price point than single-family homes, which did not see construction levels experienced in the multi-family sector..“Thanks to a stronger job market and slower but positive net migration, housing demand has remained strong enough to absorb some of the supply, but not enough to offset the high-density supply added to the market, resulting in a more significant impact on prices for higher-density homes,” says Lurie. “As the market moves through the fall, it is not unusual to see some unadjusted monthly declines in prices. However, many of these adjustments were seasonal, as seasonally adjusted figures show that prices in September are relatively stable compared with August.” The Calgary-wide benchmark price was $566,700, 1% lower than last year, with most of the price adjustment in the multi-family sector which has an average decline of 7%. Here are Lurie’s market overviews by housing type. Single-family Total sales of 896 homes in September were up from August as well as September last year. Supply levels varied by location, with less than three months of supply in the northwest, west and south districts, and nearly six months of supply in the northeast district. The benchmark price was $739,400, with higher prices in the city centre and west districts. .Semi-Detached The 163 sales were 5% above September 2025. The sector has four months of supply, with a sales-to-new-listings ratio of 45%. While this is a shift from the tighter conditions reported in this sector throughout most of 2026, it is too early to say whether this will continue into the final quarter. The September benchmark price was $685,200. Row/townhomes The 248 sales were down 18% from last year, contributing to months of supply rising above four months for the first time since the beginning of the year. The additional supply choice for buyers has also weighed on row prices, with the overall benchmark price settling at $412,400, down nearly 6% from last year. Steeper price declines of 11% were experienced in the northeast and east districts, while a smaller decline of 2% was in the northwest district. Apartment Condominium Sales of 343 units in September improved over August, slowing the year-over-year pace of decline to 14%. There were 717 new listings taking the sales-to-new-listings ratio to 48%. The excess supply of apartment-style units has weighed on prices throughout most of the year, with the benchmark price reaching $291,400, a 1% decline from August and down 8% from last year.
