Calgary Real Estate Market Update: September 2026 Recap

Originally sent to my newsletter subscribers on October 1, 2026.

Quick answer: Calgary had a steadier September 2026. 1,650 homes sold, down just 3.85% from last year, while new listings fell 11%. The benchmark price was $566,700 (about 1% lower than last year) and supply tightened to 3.9 months. Houses are firming; apartments and townhomes still favour buyers.

I'm George Brown, a Calgary REALTOR® with LPT Realty. Here's my monthly recap of September's market and what it means for you.

This month at a glance

• Sales held up. 1,650 homes sold in Calgary in September, down just 3.85% from last year. That's a much smaller drop than August's 16%.
• Fewer new listings. 3,360 new listings came on, down 11.16%. Active listings fell 6.11% to 6,503, pulling supply back under four months.
• Houses are firming. Detached sales rose 4.4% and semi-detached sales rose 5.2% from last year. Detached homes still sold in 38 days, the same as last September.
• Condos and townhomes are still soft. Apartment sales fell 14.3% and the median apartment price dropped 9.4% to $288,000. Townhome (row) sales fell 18.2% and took 50 days to sell.
• A tale of two cities. The West is the only quadrant where benchmark prices are up so far this year, while the North East has the most supply at about 6.5 months.
• Prices are steady. The benchmark price was $566,700, nearly 1% lower than last year. CREB says prices were relatively stable from August once seasonal swings are removed.
• Rates are back in focus. The Bank of Canada held at 2.25% but warned that higher fuel prices and new US tariffs are shifting the risks. Its next decision is October 28.

Market trends: September 2026

• Total sales: 1,650 (down 3.85% vs September 2025)
• New listings: 3,360 (down 11.16%)
• Active listings: 6,503 (down 6.11%)
• Months of supply: 3.9 (4.0 last September)
• Benchmark price: $566,700 (down nearly 1%)
• Median price: $574,444 (up 2.49%)
• Average price: $646,198 (up 4.93%)
• Days on market: 44 (42 last September)

The sales-to-new-listings ratio was 49%. CREB's Chief Economist Ann-Marie Lurie says the construction boom of the past three years added mostly apartments and townhomes, which is why those prices are under the most pressure.

By property type

Detached: $686,750 median (down 0.47%)

896 sales (up 4.4%), 2,981 listings, 3.3 months of supply, 38 days on market, average $823,483. Benchmark down about 1% from last year.

Semi-detached: $585,000 median (up 1.74%)

163 sales (up 5.2%), 600 listings, 3.7 months of supply, 43 days, average $686,328. Benchmark $685,200, about the same as last year.

Row / townhouse: $405,000 median (down 3.57%)

248 sales (down 18.2%), 1,103 listings, 4.4 months of supply, 50 days, average $432,178. Benchmark $412,400, down nearly 6%.

Apartment: $288,000 median (down 9.43%)

343 sales (down 14.3%), 717 new listings, 1,819 listings, 5.3 months of supply, 55 days, average $318,759. Benchmark $291,400, down more than 8%.

The takeaway: houses are holding their value and selling at the same pace as last year. Apartments and townhomes have more supply than buyers, and prices there are still sliding.

Financial and legal

Bank of Canada held at 2.25%. On September 2 the Bank left its policy rate unchanged. It said inflation and growth unfolded about as expected over the summer, but that risks have shifted. The next rate decision, with a new Monetary Policy Report, is October 28.

Why rates could go either way. In a September 21 speech, Governor Tiff Macklem said inflation has stayed around 3% because of high fuel prices, and could edge up if oil stays near $100 a barrel. At the same time, new US tariffs after trade talks broke down could cut growth to below 1% this quarter. The Bank said it is ready to adjust rates as needed.

Fixed mortgage rates. Fixed rates follow Government of Canada bond yields. Bond yields have risen in Canada as markets expect central banks to respond to higher inflation, which puts upward pressure on fixed rates.

New construction. CMHC reported 2,222 housing starts in Calgary in August, up 9% from last year, led by a 53% jump in single-detached starts. Starts for the year are still down 19%, and about 25,049 homes are under construction.

What it means for you: if you plan to buy in the next few months, get pre-approved now and ask your mortgage broker about a rate hold before the October 28 decision.

Calgary by quadrant

Under 3 months of supply leans to sellers; over 5 months leans to buyers.

North West: tight for houses

187 sales and 3.6 months of supply overall. Detached homes sold in just 36 days with under 3 months of supply (median $762,500, 123 sales, 2.9 months). Semi-detached: $626,000 median, 3.1 months. Townhomes were the slowest at 69 days ($375,250 median, 6.6 months). Apartments: $297,500 median, 5.0 months.

North East: buyer's market

The most supply of the four quadrants: 834 listings for 129 sales (6.5 months). Benchmark prices are down 7.3% year to date, and apartments are down 12.8%. Detached: $547,450 median, 5.6 months. Semi: $423,000, 7.9 months. Row: $357,500, 6.0 months. Apartments: $234,250, 15.4 months.

South West: strongest

Covering CREB's West and South districts. West detached prices are higher than last year and sold in 29 days (West detached median $967,500, 2.7 months; West overall $790,250, 3.6 months). The South was the busiest with 328 sales (median $588,500, 3.1 months; detached $681,750, 2.7 months; apartments $263,500, 4.6 months).

South East: balanced

223 sales and 3.6 months of supply (median $552,000). Detached ($649,000), semi-detached ($521,750) and townhomes ($395,000) all sat near 3.3 to 3.4 months. Apartments ($316,250) were slower at 56 days and 4.5 months.

Outside the city

Cochrane: $575,000 median

68 sales and 163 new listings pushed the sales-to-new-listings ratio down to 42%, the lowest since January, and supply up to 5 months. Homes took 52 days to sell. Sales for the year are still up nearly 6%, and prices improved from August and are similar to last year.

Okotoks: $606,800 benchmark

The tightest market around: 56 sales against just 74 new listings (a 76% sales-to-new-listings ratio) and just over 2 months of supply. Homes sold in 45 days. Prices are stable compared with last September and only 1% lower year to date.

Airdrie: $505,800 benchmark

115 sales, 213 new listings and 481 active listings, about 4 months of supply. Homes took 52 days to sell. Sales for the year are down 13%, and the benchmark is nearly 4% lower than last year, with the biggest drops in higher-density homes.

Chestermere: $690,200 benchmark

The loosest of the four: 51 sales, 135 new listings and 294 active listings, bringing supply back to just under 6 months. Homes sold in 49 days. The benchmark dipped from August but is similar to last year, and only 1% lower year to date.

Bottom line

Calgary had a steadier September. Sales nearly matched last year while new listings dropped, so supply tightened. Detached and semi-detached homes are firming, especially in the West, North West and South. Apartments and townhomes still have more listings than buyers, and the North East remains the best place to negotiate.

Selling a house? Priced right, it should sell in about a month. Buying a condo or townhome? You have room to negotiate. Lock in your financing before October 28, then make your move.

Market data: CREB® September 2026 monthly statistics (released October 1, 2026) and CREB® housing data by district. Construction data: CMHC. Rate information: Bank of Canada.

Want the numbers for your street or building?

I pull the recent sales for your exact area and tell you straight what it means for you. Call or text me at (403) 616-6309, book a call, or get a free home value estimate.

This monthly update was first sent to my newsletter subscribers. General information only, not financial or legal advice. Talk to a mortgage broker, accountant or real estate lawyer about your situation.