Calgary's real estate market continued to shift toward more balanced conditions in September 2026 — but not all property types are experiencing the same market.

The latest data from the Calgary Real Estate Board (CREB) shows a market where buyers have more choice than they did during the extremely tight conditions of previous years, while detached homes continue to perform relatively well compared with higher-density properties.

In September, Calgary recorded 1,650 residential sales, nearly 4% lower than September 2025. At the same time, the city's overall residential benchmark price was $566,700, almost 1% below last year's level.

But those headline numbers don't tell the whole story.

To understand Calgary's September market, you need to look at the different property types.

Calgary Real Estate Market at a Glance — September 2026

Here are some of the key numbers from the latest CREB report:

• Residential sales: 1,650

• Year-over-year sales change: Nearly -4%

• Residential benchmark price: $566,700

• Year-over-year benchmark price: Nearly -1%

• Sales-to-new-listings ratio: 49%

• Months of supply: Just under 4 months

Overall, Calgary's market is showing more supply relative to sales, which has helped move conditions away from the seller-dominated market seen in previous years.

However, the market is increasingly becoming a story of "it depends on what you're buying."

Detached Homes Continue to Show Strength

If you're looking at detached homes, the September numbers were relatively encouraging.

Calgary recorded 896 detached home sales in September, more than 4% higher than the same month last year.

Detached homes also had just over three months of supply, keeping the segment in relatively balanced territory.

The detached sales-to-new-listings ratio was 52%, suggesting that demand continues to absorb a reasonable portion of the available supply.

The benchmark price for detached homes was approximately $1 million?

Actually, this is where it's important to distinguish between Calgary's overall benchmark statistics and individual property segments. The September CREB report shows that detached prices were about 1% lower than last year, with some areas performing considerably differently from others.

The North East district experienced some of the larger price declines, while the City Centre and West districts recorded prices above last year's levels.

What does this mean?

The detached market isn't experiencing the same level of supply pressure seen in some higher-density segments.

For buyers, there is still choice — but competition can remain meaningful in areas where inventory is relatively tight.

For sellers, pricing correctly remains extremely important.

Condos Are a Very Different Story

The biggest contrast in Calgary's September market continues to be the apartment condominium segment.

Apartment condo sales improved from August, but they were still 14% lower than September 2025.

There were 343 apartment sales and 717 new listings, resulting in a sales-to-new-listings ratio of 48%.

Apartment inventory remained elevated, with just over five months of supply.

And prices continue to feel the pressure.

The September benchmark price for apartment-style condominiums was $291,400, more than 8% lower than September 2025.

CREB notes that while some of the monthly decline can be seasonal, seasonally adjusted prices continued to decline in September.

Why are condos under more pressure?

A major factor is the amount of new high-density supply entering the market.

Over the past several years, Calgary experienced significant construction activity, particularly in apartment-style housing.

That has created more competition between:

• Existing resale condos

• New condominium developments

• Rental properties

• Other housing options

With buyers having more choices, sellers in the resale condo market may have to compete more aggressively on price, condition and location.

Row Homes Are Also Seeing More Supply

The row-home segment is also experiencing greater supply pressure.

In September, the benchmark price for row properties was $412,400, nearly 6% lower than last year.

The sales-to-new-listings ratio dropped to 45%, while months of supply moved above four months for the first time this year.

Competition from newly built homes is another factor.

When buyers can compare a resale property with a brand-new home, the price difference becomes particularly important.

This can put additional pressure on sellers of older or less competitive properties.

What About Semi-Detached Homes?

Semi-detached homes remain somewhere between the detached and higher-density segments.

The September benchmark price was approximately $685,200, which was comparable to last year's level.

Months of supply moved toward four months, while the sales-to-new-listings ratio fell to 45%.

CREB notes that this represents a shift from the tighter conditions seen earlier in 2026, although it is still too early to know whether this trend will continue through the final quarter of the year.

Is Calgary a Buyer's Market or a Seller's Market?

The answer is:

It depends on the property type and location.

Calgary's overall market is moving toward more balanced conditions, but some segments are clearly more favourable to buyers.

Detached homes

More balanced

Supply remains relatively limited compared with higher-density housing, particularly in certain communities.

Semi-detached homes

Moving toward balanced

Supply has increased, but prices remain relatively stable compared with last year.

Row homes

More buyer-friendly

Higher supply and competition from new construction are giving buyers more options.

Apartment condos

Buyer-favouring conditions

Higher inventory and competition from new supply are putting greater pressure on prices.

This is why simply saying "Calgary is a buyer's market" or "Calgary is a seller's market" doesn't accurately describe what is happening.

What Does This Mean for Calgary Homebuyers?

For buyers, September's numbers provide some positive news.

Compared with the extremely competitive conditions Calgary experienced during earlier periods, buyers now generally have more choice and more time to evaluate properties, particularly in higher-density segments.

That can mean:

• More opportunities to negotiate

• More properties to compare

• Less pressure to make an immediate decision

• Greater choice in condos and row homes

But buyers shouldn't assume that every Calgary property is negotiable.

A well-priced detached home in a desirable community can still attract strong interest.

The property, neighbourhood, price and condition all matter.

What Does This Mean for Calgary Home Sellers?

Sellers need to pay close attention to pricing.

In a market with more inventory, buyers have alternatives.

If your property is priced significantly above comparable homes, buyers may simply move on to another listing.

This is particularly important for condos and row homes, where buyers may be comparing resale properties with newly built options.

A strong listing strategy can therefore make a meaningful difference.

That includes:

Pricing correctly + presenting the property well + understanding your competition.

What About Calgary Home Prices?

The overall residential benchmark price of $566,700 in September was nearly 1% lower than the same month last year.

But again, the overall number can hide important differences.

Apartment condos were down more than 8% year over year.

Row homes were down nearly 6%.

Detached prices were down approximately 1%.

That means someone looking at a detached home may have a very different experience from someone shopping for a downtown or suburban apartment condo.

The Calgary housing market isn't moving as one single market anymore.

The Big Story for Calgary Real Estate in September 2026

If I had to summarize September's Calgary real estate market in one sentence, it would be:

More balanced overall — but increasingly divided by property type.

Detached homes continue to show relatively healthy demand and more balanced supply conditions.

Meanwhile, apartment condos and row homes are experiencing greater supply and more price pressure.

For buyers, this can create opportunities.

For sellers, it makes accurate pricing and market positioning more important than ever.

And for anyone thinking about buying or selling, looking only at the headline Calgary average may not give you the full picture.

What Should You Do If You're Thinking About Buying or Selling?

Whether you're buying your first home, moving to a larger property, downsizing, investing or considering selling, the best strategy depends on your individual situation.

Before making a decision, consider:

Where is the property?

What type of property is it?

How much comparable inventory is available?

What are similar properties actually selling for?

What does your financing situation look like?

The Calgary market in September 2026 shows why local market knowledge and good financial planning matter.

If you're thinking about making a move, understanding both the real estate side and the mortgage side can help you make a more informed decision.

Final Thoughts

Calgary's September 2026 real estate market wasn't about a dramatic crash or a return to the extremely tight seller's market of previous years.

Instead, we're seeing a market continue to rebalance.

Sales were lower than last year, overall prices were slightly lower, and buyers had more supply to choose from.

But the most important takeaway is that Calgary is not one single market.

Detached homes, semi-detached properties, row homes and apartment condos are experiencing very different conditions.

That's why buyers and sellers should look beyond the headline numbers and understand what's happening in the specific segment and community they're considering.

Thinking about buying or selling in Calgary?

📞 403-889-5666

Realty Executives Pioneers

Market information is based on September 2026 Calgary Real Estate Board statistics released October 1, 2026. Real estate and mortgage decisions should be based on your individual circumstances and current market conditions.