Sales slip in Vancouver and Calgary as prices ease: what September's numbers show, and what they don't
Sales fell in both Vancouver and Calgary in September, and apartments took the worst of it. Prices eased in both cities too. One month rarely shows where prices are going, but the split by property type shows where the pressure sits.
What do the September numbers show?
Greater Vancouver REALTORS:
Regardless of the property type you’re looking at it’s a buyer’s market in Metro Vancouver.
Detached Houses: 10.5 months of inventory, down 10%.
Townhouses: 7.8 months of inventory, up 4%.
Condo Apartments: 8.6 months of inventory, up 15%.
Detached, townhome and condo sales combined came to 1,618, down about 9% from a year earlier.
Condo sales fell 18.4% to 777. Townhome sales fell 3.6% to 265.
Detached sales rose 4.0% to 576. Year-over-year benchmark prices fell in all three: detached $1,784,700 (down 7.3%), townhomes $1,016,700 (down 4.7%) and condos $682,500 (down 6.2%)
Sources:
Properti Edge AI Advisor as of 30 Sep 2026.
REBGV REALTOR Report, September 2026, via the REBGV monthly market report page.
Calgary Real Estate Board (CREB):
The picture is mixed for the Calgary market.
Detached Houses: 3.3 months of inventory (Seller’s market) down 11%.
Townhouses: 4.4 months of inventory (Balanced Market) up 22%.
Condo Apartments: 5.3 months of inventory (Balanced Market) up 6%.
Conditions have tightened for detached houses, but supply has increased significantly for townhomes and apartments.
Detached, townhouse and apartment sales combined came to 1,492, down 16.3% from 1,783 a year earlier.
Apartment sales fell 26% to 333, townhouse sales fell 16.2% to 284 and detached sales fell 12.1% to 875.
Benchmark prices: detached $739,400 (down 1.4%), townhouses $412,400 (down 5.6%) and apartments $291,400 (down 9.8%)
Sources:
Properti Edge AI Advisor, as of 30 Sep 2026.
Calgary Real Estate Board (CREB) September 2026, via the Housing Statistics Report.
All of these are unadjusted figures: this September's numbers as first reported, compared with last September's numbers as first reported. The boards revise past figures later, but revisions only show up in hindsight, so comparing like with like is the fairer test. Expect small shifts when the revisions arrive.
Look at the pattern. Apartments are the weakest segment in both cities, in sales and in price. The REBGV release calls the weakness "contained to the sizeable apartment segment." That is a generous way to put it. Prices are lower in every type in both cities, and Vancouver townhome sales fell too.
How much choice do buyers have?
Months of inventory is how long it would take to sell everything now listed at the current pace of sales. Properti Edge labels under 4 months a seller's market, 4 to 6 months balanced and over 6 months a buyer's market.
Vancouver: buyers have the edge in every type. Months of inventory was 10.5 for detached homes, 8.6 for apartments and 7.8 for townhomes, and 9.1 across the three together, up from 8.8 a year ago.
Calgary: the picture is split. Detached homes were still a seller's market at 3.3 months. Townhouses (4.4) and apartments (5.3) were balanced. Across the three types it was 3.9 months, up from 3.5, with active listings down 6.5% from a year ago.
What are buyers doing?
They are adjusting. First-time buyers in Calgary say they are willing to compromise on their wish lists, and others report that lower affordability is narrowing their choices. When buyers trade a third bedroom for a lower payment, sales slow before prices move.
Calgarians willing to compromise on first-time home buying wishes, Calgary Herald, October 29, 2026
Why does the Bank of Canada decision matter?
On 28 October the Bank raised its policy rate by 0.25% to 2½%. Higher borrowing costs shrink what a household can spend on a home. CBC reports those costs are set to weigh on an already weak housing market.
Is a crash coming?
Searches for "will the housing market crash in 2026" have jumped. A sales dip is not a crash. A crash means a sharp, broad fall in prices over a short time, and one month of sales figures cannot show that. What the numbers do show is a split market. In Vancouver buyers have the upper hand in every type. In Calgary sellers still hold the edge in detached homes while apartments slide.
What should you watch next?
The October board reports, due in early to mid November.
Lender rate moves after the Bank of Canada decision.
Mortgage renewals, which CBC reports are straining some B.C. households.
If you are thinking of buying or selling, the national picture is only the backdrop. Your income, your down payment and your neighbourhood decide what is sensible for you.
Note: This is general information, not advice. Speak to a real estate agent or mortgage broker, depending on your situation, before acting.
