Calgary’s housing market held relatively steady in September, but the numbers continued to show a growing divide between detached homes and higher-density properties.
The city recorded 1,650 sales during the month, nearly four per cent fewer than in September 2025 and roughly in line with August, according to the Calgary Real Estate Board (CREB).
While sales typically decline between August and September, an increase in detached home activity helped prevent the usual seasonal pullback. Detached sales reached 896 units, up from August and more than four per cent higher than a year earlier.
New listings also increased from August, pushing the sales-to-new-listings ratio down to 49 per cent. Inventory remained relatively stable, while months of supply held at just under four months.
Different conditions by property type
CREB says detached homes remain in relatively balanced conditions, while higher supply among apartment and row properties has contributed to buyers’ market conditions in those segments.
“The variation in market conditions between property types is related to where the supply was added. The construction boom over the past three years was mostly driven by gains in higher-density sectors, significantly increasing the supply of apartment and row-style homes,” said Ann-Marie Lurie, chief economist at CREB.
“Meanwhile, detached homes did not see the same boost in construction, preventing broad-based supply growth. 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.”
Prices edge lower
Calgary’s unadjusted residential benchmark price was $566,700 in September, nearly one per cent below last year. CREB noted that some monthly price changes were seasonal, with seasonally adjusted prices remaining relatively stable compared with August.
Year over year, the largest declines were concentrated in higher-density housing. Row home prices were down eight per cent, while apartment prices declined six per cent.
Detached prices were one per cent below September 2025 levels, with declines concentrated in the North East, East and North districts. Conditions also varied considerably across the city: detached homes had less than three months of supply in the North West, West and South districts, compared with nearly six months in the North East.
