Calgary sales are falling faster than listings, and condos are taking the hit
Calgary home sales fell in every property type in October, and they fell faster than listings. CREB reports 1,592 sales, down 15.3% from a year earlier, while new listings fell only 9.4%. That gives buyers more choice than they had a year ago: months of supply rose for detached homes, townhouses and apartments alike.
The effect on prices depends on what you are buying. The detached benchmark is almost unchanged from a year ago. The apartment benchmark is down 7.9%, and the median apartment sold for 7.4% less.
What do the October numbers show?
Calgary Real Estate Board (CREB), City of Calgary:
Detached homes are still a seller's market. Townhouses and apartments are balanced, and all three have moved towards buyers since last year.
Detached houses: 3.3 months of supply (seller's market), up from 2.9 a year ago.
Row and townhouses: 4.4 months of supply (balanced), up from 3.9.
Apartments: 5.3 months of supply (balanced), up from 4.6.
Apartment sales fell 22.3% to 320. Detached sales fell 16.0% to 847. Row and townhouse sales fell 11.7% to 241. Inventory across the three types fell only 4.6%, to 5,592.
*YoY: year-over-year change, October 2026 against October 2025. Source: CREB monthly statistics package, October 2026 (MLS® HPI benchmark and median prices, year-over-year changes). City of Calgary. General information, not advice.
Benchmark or median: which one should you watch?
Both. The benchmark tracks a typical home with the same features from month to month, so it is steady and slow to turn. The median is the middle price of the homes that actually sold, so it reacts first. In our experience the median often leads the benchmark by a month or two, which makes it an early signal. For detached homes the two differ this month: the benchmark is almost flat (down 0.7%), but the median fell 3.2%. That makes a softer detached benchmark in the next month or two more likely than not. By "more likely than not" we mean better than even odds, not a forecast of a specific price. Part of the gap may simply be more sales at the lower end, so watch whether it holds in November. For apartments the two agree, which makes that drop more convincing.
Why does it matter that sales fell faster than listings?
Months of supply is inventory divided by sales. When sales drop faster than new listings, the number rises and buyers gain room to negotiate. That is what happened in Calgary in every property type.
Toronto went the other way in October: listings fell faster than sales as sellers pulled back. In Calgary, sellers are still listing and buyers are the ones holding off. CREB's chief economist, Ann-Marie Lurie, says the extra choice "has taken much of the pressure off prices this year."
Why are apartments weaker than houses?
Apartments have the most supply relative to sales. At 5.3 months, the apartment market is close to the 6-month line where buyers take the upper hand, and CREB says apartment inventory is 13% above typical October levels. The apartment benchmark is down 7.9% in a year and, by CREB's count, 15% below its August 2024 peak. Detached homes, at 3.3 months, still favour sellers.
By district, apartment benchmarks fell most in the East (down 13.1%) and North East (down 11.8%). Detached benchmarks rose in City Centre (up 3.3%) and the West (up 3.2%) but fell in the East (down 6.8%) and North East (down 6.6%).
How does Calgary compare with Toronto and Vancouver?
Sources: TRREB Market Watch, Greater Vancouver REALTORS® and CREB monthly statistics, October 2026; months of inventory and median changes calculated by Properti Edge. Vancouver's months of inventory come from GVR's sales-to-active-listings ratio. GVR publishes median prices by area only, so Vancouver's median is for Vancouver East, which leaves out the luxury houses of Vancouver West and the luxury condos downtown. General information, not advice.
Read the full October 2026 city reports: Toronto, October 2026 and Vancouver, October 2026.
Calgary has the steepest drop in sales of the three, but the smallest drop in detached prices. It is the only one where detached homes still favour sellers.
What should buyers and sellers take from this?
Buyers: apartment buyers have the most room, with prices down about 8% and more choice than a year ago. Detached homes are still competitive. Check what you qualify for after the October 28th rate hike before you shop.
Sellers: detached sellers are still in a good position. Apartment sellers face more competition, so price for the market you are in, not the one you remember.
Owners not moving: a lower benchmark only matters on the day you sell or renew against your home's value.
What should you watch next?
CREB's November release (early December), the first full month after the Bank of Canada raised its policy rate by 0.25% to 2½% on October 28th.
Apartment months of supply. Above 6 months, it becomes a buyer's market.
Whether detached sales keep falling faster than new listings.
From Properti Edge
Check the market you are actually buying in
A Calgary apartment and a Calgary house are in different markets right now. Ask the Properti Edge AI Advisor about your area and property type, and it gives you sales, listings, months of inventory and benchmark and median prices, with the month stated.
General information, not advice.
This is general information, not advice. Speak to a real estate agent or mortgage broker, depending on your situation, before acting.
