Calgary Real Estate Market Update: October 2026 Recap

Sales slowed, sellers pulled back and the Bank of Canada raised rates. Houses are holding their value; condos and townhomes are where buyers have the leverage. Here's what happened in Calgary real estate in October 2026, and what it means if you're buying, selling or waiting.

Quick answer

• Sales: 1,592, down 15.3% from October 2025, the slowest October in years.
• Benchmark price: $564,200, down 0.4% from last year and about 1.5% below the June peak.
• Supply: 3.88 months. Inventory fell for a fourth straight month to 6,173.
• Rates: the Bank of Canada raised its policy rate 0.25 points to 2.50% on Oct. 28.
• Two markets: detached and semi-detached homes are balanced and steady; apartments and townhomes are down 5% to 8% with more supply.

October at a glance

City of Calgary, full month of October, compared with September and with October 2025.

Source: CREB® October 2026 City of Calgary statistics package. Months of supply = inventory ÷ sales.

Sales fell 3% from September and 15% from last October. Sellers pulled back even more: new listings dropped 13% from September, so inventory fell for a fourth straight month. That's why supply held just under 4 months instead of rising. Prices are essentially flat: the benchmark is down 0.4% from last year and has eased about 1.5% from its June peak, which is normal for fall.

Who has the leverage?

The sales-to-new-listings ratio is the share of new listings that found a buyer. Under 40% generally favours buyers; over 60% favours sellers. Months of supply is how long it would take to sell every active listing at October's pace. Under 3 months is tight; 5 or more gives buyers real choice.

Semi-detached is the only property type that got tighter than last year: 61% of new listings found a buyer and supply fell to 3.2 months. Detached is still balanced but had the biggest drop in the ratio, from 63% to 56%. Townhomes and apartments sit near 50% with 4.4 and 5.3 months of supply, and their supply rose the most from last year, so buyers in those segments have more choice and more time to negotiate.

By property type

October 2026 vs. October 2025. Days on market a year ago: detached 37, semi 39, townhouse 50, apartment 52.

Detached: $735,100 benchmark (down 0.7%)

847 sales, down 16% from last year, but new listings fell 6% and the sales-to-new-listings ratio rose to 56% from 52% in September (63% a year ago), so inventory (2,832) is about where it was last October. The year-to-date benchmark is down 2.1%. Homes sold at 97.7% of list price, the same as last year.

Semi-detached: $685,200 benchmark (up 0.8%)

The only type where sales rose from September. At 184 sales, October nearly matched last year, and supply fell back to 3.2 months from nearly 4 in September. The benchmark is the only year-over-year gain of any type, and year-to-date prices are flat.

Townhouse (row): $407,500 benchmark (down 5.1%)

241 sales, down 12%. New listings fell less than sales, so inventory (1,069) is up slightly from last year and supply rose to 4.4 months, a more persistent sign of oversupply. Prices are lower than last year in every district. CREB says competition from new homes, where the price gap to resale is narrow, and added rental supply are weighing on resale townhomes.

Apartment: $288,800 benchmark (down 7.9%)

320 sales, down 22%, and sales are down 25% for the year. Inventory fell 11% from last year to 1,691, but that's still 13% above a typical October, and supply is 5.3 months. The benchmark is 15% below the August 2024 peak. Condos sold at 96.1% of list price and took 55 days, the biggest discount and the slowest pace of any type.

Year to date: the steadier view

Calgary is two markets. Houses (detached and semi) are balanced with prices within 1% of last year. Higher-density homes carry most of the slowdown: apartments and townhomes account for 1,710 of the 2,195 fewer sales this year, and their prices are down 5% to 8%. CREB's chief economist points to more choice across the new home, rental and resale markets, with price pressure concentrated in the oversupplied higher-density segments.

By price range

The only price range with more sales than last year is the top end: 69 homes sold over $1.5 million, up from 57. The biggest drop is in the $700K to $999K range (down 28%), the core move-up detached market. Entry-level sales under $300K, mostly apartments, held up better than the middle of the market.

Calgary by district

October benchmark price change from last year and months of supply, by CREB district, sorted from tightest to loosest detached market.

North West: tight for houses, price-sensitive buyers

North West detached homes are tight (3.0 months) with 112 sales, but prices are down 2.5% from last year, a sign that buyers are still price-sensitive even where supply is limited. Semi-detached is the surprise: 5.1 months of supply, the most of any semi market in the city, even though prices are up 0.8%. Townhome prices held up best here and in the West (both down 3.4%, the smallest declines in the city).

North East and East: the buyer's market

The softest part of Calgary. North East detached supply is 4.2 months and prices are down 6.6%. Townhomes have 8.5 months of supply, the most in the city, and apartments 8.6 months, with apartment prices down 11.8%. The East is down even more in every property type, including apartments at 13.1%. Buyers here have the most choice and the most room to negotiate.

West and South: the tightest market

The West is the tightest market in the city: 2.5 months of detached supply, 2.5 months for semis, and detached prices up 3.1% to $988,400. The South had the most detached sales of any district (179); prices are flat (down 0.6%) with 3.1 months of supply. South apartments are down 9.2%.

South East: balanced and steady

Detached (3.2 months, down 1.2%) and semi-detached (2.9 months, down 0.9%) are close to last year. Townhomes are down 5.6% with 3.6 months of supply. Apartments are slower, with 5.4 months of supply and prices down 8.2%.

City Centre: biggest detached gain

City Centre detached prices rose 3.3% to $992,500, the biggest detached gain in Calgary. It's also the largest condo market, with 140 apartment sales and 727 active listings (5.2 months of supply).

Outside the city

Detached prices in every surrounding town fell more than in Calgary (down 3.4% to 5.9% vs. 0.7%), so the city has held its value better this year. Okotoks is still the tightest at 3 months of supply, but that's its highest this year. Cochrane (5.8 months, the most since early 2020, partly from new homes being listed for resale) and Chestermere (5.9 months) give buyers real choice. Airdrie remains about 20% cheaper than Calgary for a detached home.

The price trend in 2026

Prices rose about 3.5% from January to the June peak, then eased 1.5% through October. CREB says the dip from September is in line with normal seasonal patterns. What's different from a typical year is the spring: prices didn't get their usual lift, which is why the year-to-date benchmark ($565,680) is 2.7% below 2025.

Rates: the Bank of Canada raised

What happened. On Oct. 28, the Bank of Canada raised its policy rate by 0.25 points to 2.50%, the hike markets had expected. It's the first increase after the rate sat at 2.25% for a full year.

Why. Inflation has been around 3% since April because of high oil prices, with the Middle East conflict now in its eighth month. Excluding gasoline, inflation was 2.2% in September, but the Bank expects businesses to pass more of their higher fuel and input costs on to customers over the next year. It now expects inflation to reach about 3.5% by year end, average 3% in 2027 and return to 2% by mid-2028.

More hikes possible. The Bank said there could be a need to raise rates further, but it will proceed carefully. It named the Middle East conflict and new US tariffs as the biggest uncertainties.

The economy. Growth was stronger than expected: 3.3% in the second quarter and about 2% in the third. The Bank forecasts 1% growth in 2026 and 2% in 2027, with unemployment around 6.5%, and it expects housing to remain relatively weak.

New construction. CMHC counted 2,535 housing starts in the Calgary region in September, up 12% from last year. Multi-unit starts rose 32%, driven by apartments, while single-detached starts fell 40%. Year to date, starts are down 16% (17,612), and 26,252 homes are under construction, so new apartment supply keeps coming while new detached supply stays limited.

What it means for you: variable-rate mortgages and lines of credit follow lenders' prime rates, which typically move with the Bank's rate. If you're buying or renewing in the next few months, ask your lender or broker about a rate hold before Dec. 9. You can run the numbers with CMHC's mortgage calculator.

Dates to watch: Nov. 17 (CMHC October housing starts), early December (CREB's November report), Dec. 9 (next Bank of Canada decision) and Jan. 27 (Bank of Canada decision and updated Monetary Policy Report).

Bottom line

Calgary is heading into winter with steady prices, fewer listings and slower sales. Houses are balanced and holding their value, especially in the West and City Centre. Apartments and townhomes are where buyers have the leverage, most of all in the North and North East. And for the first time in this cycle, rates are going up.

• Buy: condo and townhome buyers have the most room to negotiate, with 4 to 5+ months of supply and prices down 5% to 8%. Detached buyers have time to compare, but shouldn't expect big discounts. Get a rate hold first.
• Sell: detached sellers in the West and North West, and semi sellers in the West, South and South East, face 3 months of supply or less, and those buyers are competing. Condo and townhome sellers compete with new builds, so pricing it right on day one matters more than ever.
• Wait: waiting can make sense for condo buyers in oversupplied areas, where prices are still drifting lower. The risk: another rate increase could cut what you can afford by more than any price dip saves you.

Around Calgary in November

• Grey Cup Festival: Nov. 11 to 14 at Stampede Park, then the 113th Grey Cup on Sunday, Nov. 15 at McMahon Stadium.
• YYC Noodle Festival: Nov. 5 to 15 at restaurants across Calgary.
• Gather and Graze at ZOOLIGHTS: Friday, Nov. 20 at the Calgary Zoo.
• Bowness Christmas Market: Saturday, Nov. 7, 10 to 4 (free).
• Flames home games: Nov. 6, 8, 11, 19 and 21 at the Saddledome.

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Sources: CREB® October 2026 release and City and Region statistics packages; Bank of Canada, Oct. 28, 2026; CMHC housing starts. General information only, not financial advice. Talk to your mortgage professional about your situation.