What happened this month
Calgary’s total residential benchmark price was $566,700 in September 2026, down $3,100 from August’s $569,800. That is about half a per cent on the month, and it is the lowest reading since March. Year over year the benchmark is down 0.82 per cent against $571,400 in September 2025, and that annual gap has narrowed for a second month, from 1.08 per cent in August.
Both of those can be true because prices usually ease in the fall, and this September’s step down was smaller than last September’s. A year ago the benchmark fell $4,600 between August and September, then kept sliding to $554,700 by December. CREB’s read is that the September declines are largely seasonal and that seasonally adjusted prices were relatively stable against August. I read it the same way. This is the usual autumn drift arriving on schedule. It has arrived, though, and last year it ran for four months.
August’s story was a slide in volume, with sales down more than 16 per cent on the year. In September that gap closed to 3.85 per cent. Sales of 1,650 were level with August, which CREB has since revised to 1,656, in a month when sales typically pull back. Last September they dropped by 270 from August. CREB credits detached homes for the difference: detached sales of 896 were up 4.43 per cent on the year, and semi-detached sales of 163 were up 5.16 per cent.
Supply is now tighter than it was a year ago, which is the reverse of what I reported last month. New listings of 3,354 were up 6.8 per cent from August, the same direction they moved last September, and down 11.32 per cent from September 2025. Inventory finished at 6,486, down 6.26 per cent on the year and slightly below August. Months of supply came in at 3.93, effectively unchanged from August and below the 4.03 of a year ago. In July and August months of supply was higher than the year before because sales were falling faster than inventory. In September inventory fell faster than sales, so the ratio went the other way.
Homes are still taking longer to sell. The average sale took 44 days against 42 a year earlier and 41 in August, the longest since January. The citywide sale-to-list ratio was 97.39 per cent against 97.76 a year ago.
The year-to-date figures are a fair check on one steadier month. Through nine months sales are 10.46 per cent behind 2025, average inventory is 1.51 per cent higher, and months of supply has averaged 3.30 against 2.91. September moved in a better direction. It has not undone the year.
The split by property type now shows up in sales as well as in prices. In August sales were down by double digits on the year in all four types. In September detached and semi-detached sales were both up, while row sales fell 18.15 per cent and apartment sales fell 14.25 per cent. On price, semi-detached is still the only type up on the year, at $685,200 and by $600, which is 0.09 per cent. Detached is $739,400, down 0.95 per cent. Row is $412,400, down 5.54 per cent. Apartments are $291,400, down 8.28 per cent. All four benchmarks fell from August, apartments the most at 1.35 per cent.
The apartment benchmark has now been below $300,000 for four consecutive months, and September is its lowest reading in the 21 months of CREB data I have. Against the August 2024 peak of $341,300 that CREB cited last month, it is down about 14.6 per cent.
Supply tells the same story by type. Detached sits at 3.31 months against 3.73 a year ago, and semi-detached at 3.67 against 3.99. Row is at 4.45 months against 3.61, and apartments at 5.29 against 5.01. So supply tightened on the year for detached and semi-detached and loosened for row and apartment. Days on market run in the same order: 38 for detached, 43 for semi-detached, 50 for row and 55 for apartments.
Row moved the most. It is the only type with more inventory than a year ago, at 1,103 and up 0.73 per cent, and CREB notes its months of supply rose above four for the first time since the start of the year. Apartments were a little better than their headline. Apartment sales rose to 343 from 332 in August, inventory fell to 1,816, which is 9.38 per cent lower than a year ago, and new apartment listings were down 22.65 per cent. This is still not distressed selling. Fewer owners are listing, and fewer buyers are buying.
CREB’s chief economist Ann-Marie Lurie tied the split to where new construction went: “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. Meanwhile, detached homes did not see the same boost in construction, preventing broad-based supply growth.”
September can feel stronger than the benchmark says, and the mix of homes that sold is why. The median sale price rose 2.49 per cent on the year to $574,444 and the average rose 4.93 per cent to $646,198, while the benchmark fell. Detached homes were 54 per cent of sales against 50 per cent a year ago. Sales at $1,000,000 and above rose to 176 from 156, and sales at $2,000,000 and above went from 15 to 31. That does not make any one home worth more. More expensive homes were a bigger share of the month.
The detached district table has the same two exceptions it has had since July. West and City Centre are still the only two detached districts up year over year, the West at $993,700 and plus 2.69 per cent, City Centre at $981,300 and plus 0.72 per cent. They went different ways on the month. The West was the only detached district in the city to rise from August, by 0.12 per cent. City Centre fell 1.45 per cent, and its annual gain shrank from 2.24 per cent to 0.72. Everywhere else is negative on the year: North East down 6.01 per cent with 5.61 months of supply, East down 4.99 per cent, North down 3.80 per cent, South East down 1.55 per cent, South down 0.82 per cent and North West down 0.66 per cent. The East had the steepest monthly decline at 2.72 per cent.
One honest qualifier on the West. It still has the tightest detached supply in the city at 2.73 months, but only just, with the South at 2.75 and the North West at 2.86. West supply was 2.34 months in August, so it has loosened again.
Community spotlight
The table below summarises trailing twelve-month activity for ten SW and West Calgary communities: median sold price, average days on market, and sale-to-list ratio. These are all-property-type medians, so they include detached, semi-detached, row and apartment sales in whatever proportion each community’s housing stock dictates. The median price shows where a typical transaction landed over the past year, while days on market and sale-to-list describe how balanced conditions have been.
| Community | Median sold price | Avg days on market | Sale-to-list |
|---|---|---|---|
| Altadore | $1,175,000 | 33 | -1.8% |
| North Glenmore Park | $1,085,000 | 43 | +0.2% |
| Aspen Woods | $1,035,000 | 35 | -1.6% |
| Discovery Ridge | $931,000 | 35 | -1.6% |
| Lakeview | $900,500 | 33 | -0.2% |
| Killarney-Glengarry | $836,000 | 36 | -1.6% |
| West Springs | $834,000 | 35 | -1.3% |
| Christie Park | $785,000 | 30 | -1.1% |
| Signal Hill | $641,284 | 32 | -1.7% |
| Glamorgan | $440,000 | 36 | -2.4% |
Source: Pillar9 sold-comp data, City of Calgary residential, sales closing between 1 October 2025 and 30 September 2026 inclusive (n = 1,322 across the ten communities). Sale-to-list compares the sold price to the list price the home carried at close, so it measures the gap from the final ask rather than the total discount from an original asking price.
Aspen Woods did not get 16 per cent more expensive in a month. Its median was $895,000 in last month’s table and it is $1,035,000 in this one. The community is split between detached homes with a median near $1.4 million and everything else, mostly row and apartment homes, with a median near $500,000. The overall median sits wherever the middle sale happens to fall. Last month detached homes were 49 per cent of the twelve-month sales, so the middle sale sat toward the lower group. This month they are 53 per cent, so it sits toward the upper one. The detached median itself barely moved, from $1,393,750 to $1,397,500. If you own in Aspen Woods, that second figure is the one that describes your market.
North Glenmore Park and Lakeview are again the two communities here closest to list on the average sale, at +0.2 and -0.2 per cent, and North Glenmore Park is the only one above it. Both are about 82 per cent detached, the most detached-heavy communities in the set. The same caveat applies as last month. In both communities the median sale closed below list, at -1.9 per cent in North Glenmore Park and -1.4 per cent in Lakeview. A handful of over-list sales pull the average up. These are not bidding-war markets.
Timing shows the same thing. Lakeview’s median sale took 15 days while its average was 33, and North Glenmore Park’s median was 26 days against an average of 43. The typical well-priced home in these communities sells in two to four weeks. The average is carried by the homes that sat, and the ones that sit usually started too high. Christie Park is the fastest community here on the average at 30 days, on the smallest sample at 29 sales, so read it as a description of a thin market.
Glamorgan has the weakest sale-to-list in the set at -2.4 per cent. It is also the most row-and-apartment weighted community in the set, with those two types making up about 68 per cent of its sales. That is the citywide type split showing up inside this table. Each community carries a different mix of stock, which shapes how its median moves, so read the individual community guides for what actually trades there.
12-month benchmark trend
The chart below traces Calgary’s total residential benchmark price from October 2025 through September 2026. The benchmark fell through the autumn of 2025 to a floor of $553,400 in January, recovered for five consecutive months to $572,500 in June, and has eased $5,800 over the three months since.
| Month | Benchmark price |
|---|---|
| 2025-10 | $566K |
| 2025-11 | $559K |
| 2025-12 | $555K |
| 2026-01 | $553K |
| 2026-02 | $559K |
| 2026-03 | $565K |
| 2026-04 | $568K |
| 2026-05 | $569K |
| 2026-06 | $573K |
| 2026-07 | $569K |
| 2026-08 | $570K |
| 2026-09 | $567K |
What this means for buyers
What you’re shopping for matters more this month than it did in August.
If you’re shopping detached, the quiet room you had in August is gone. Detached sales were up 4.43 per cent on the year, detached new listings were down 9.35 per cent, and supply is 3.31 months against 3.73 a year ago. That is still a balanced market and the detached benchmark still eased 0.66 per cent on the month, so you’re not paying more than you would have in August. You do have more company. In the West, South and North West districts detached supply is under three months, and being pre-approved and able to move inside a few days is worth what it was in the spring.
The North East is the exception in detached. It sits at 5.61 months of supply with the benchmark down 6.01 per cent on the year, and that is where a detached buyer has the most room to negotiate.
Row homes are where conditions changed most in your favour. Supply is 4.45 months against 3.61 a year ago, the benchmark is down 5.54 per cent, and the average row home took 50 days to sell. CREB also points to new construction competing with resale row homes, so it’s worth pricing a new unit against a resale one before you write an offer on either.
If your target is an apartment, you still have the most room of any buyer in the city. Supply is 5.29 months, the benchmark is down 8.28 per cent on the year, apartments took an average of 55 days to sell, and they sold for 96.10 per cent of list on average. You have room to ask for an inspection, a possession date that suits you, and a price below list. The caution is the same as last month. Rentals are competing directly with entry-level ownership, so run the rent-versus-buy numbers on the specific unit.
On timing, last year the benchmark kept easing from September through December, and inventory fell from 6,919 to 3,873 over the same stretch. If that pattern repeats, waiting may cost you nothing on price, and it will cost you selection. I can’t tell you which matters more for your search without knowing what you’re looking for.
The citywide 44-day average hides a 17-day gap between the fastest and slowest property types. Ask for days on market for your type and your district.
What this means for sellers
The message for September: detached and semi-detached sellers have buyers again, and the number to price against is still September’s.
Detached sellers are in a better position than a month ago. Sales are up on the year, supply is tighter than last September, and the average detached home sold in 38 days for 97.90 per cent of list. All four benchmarks eased on the month though, and the citywide average is now 44 days. More buyers did not mean higher prices in September. The cost of starting too high is the same as it was: the Lakeview figures above show a median sale at 15 days and an average of 33, and the difference is mostly homes that started high and waited.
West district detached sellers still have the strongest position in Calgary, and the West was the only detached district that rose on the month. Supply there has loosened from 2.34 months to 2.73, so price off recent comparables. City Centre detached sellers need recent comparables even more. That benchmark fell 1.45 per cent in a single month, and a spring comparable is no longer the right anchor.
Semi-detached sellers should know that supply moved in September. New listings jumped to 359 from 302 in August, inventory rose to 599 from 555, and the average sale took 43 days against 37 a year ago. The benchmark is level with last year and 3.67 months of supply is still balanced. CREB says it is too early to say whether this continues into the final quarter, and I agree. It’s worth knowing before you set a number.
For row and apartment sellers, pricing sharply on day one still beats testing high and adjusting later. Row is the newer concern, with supply above four months and sales down 18 per cent on the year. Apartment supply is above five months and 55 days is the average, not the worst case. Condition and presentation carry more weight when a buyer can walk to the next building and find something similar.
If you’re deciding between listing now and waiting for spring, last autumn is the best guide I have. The benchmark gave up $16,700 between September and December 2025 and did not get back above its September level until June. I’m not predicting a repeat. If you list this fall, price for the market in front of you.
FAQ
Did Calgary house prices fall in September 2026?
Yes, modestly. The total residential benchmark price was $566,700 in September, down $3,100 from August’s $569,800, which is about half a per cent. CREB describes most of that as seasonal and says seasonally adjusted prices were relatively stable against August. Year over year the benchmark is down 0.82 per cent, a smaller gap than August’s 1.08 per cent, because last September’s decline was larger than this one. Check your own segment, because the citywide number averages very different markets. Semi-detached is up 0.09 per cent on the year, detached is down 0.95 per cent, row is down 5.54 per cent and apartments are down 8.28 per cent.
Are Calgary home sales recovering?
September was steadier, and it is one month. Sales of 1,650 were down 3.85 per cent from September 2025, after a decline of more than 16 per cent in August, and they held level with August in a month when sales typically pull back. The improvement came from detached and semi-detached homes, where sales were up 4.43 and 5.16 per cent on the year. Row sales were down 18.15 per cent and apartment sales down 14.25 per cent. Year to date, total sales are still 10.46 per cent behind 2025.
Why is months of supply lower than a year ago?
Because inventory fell faster than sales. Months of supply is inventory divided by sales. Inventory was 6,486 in September, down 6.26 per cent from a year earlier, while sales were down 3.85 per cent. That put months of supply at 3.93 against 4.03 in September 2025. It is the reverse of July and August, when sales were falling faster than inventory and the ratio was rising. New listings were down 11.32 per cent on the year, so fewer sellers are coming to market than last fall.
Is fall 2026 a bad time to sell a house in Calgary?
It depends far more on what you own than on the season. Detached homes sit at 3.31 months of supply, tighter than a year ago, with sales up on the year and an average of 38 days to sell. Semi-detached is at 3.67 months with a benchmark level with last year. Row homes are at 4.45 months and apartments at 5.29, with benchmarks down 5.54 and 8.28 per cent, and those sellers need to price sharply from the first day. The seasonal point applies to everyone: last year the benchmark fell $16,700 between September and December, so a fall listing should be priced for the fall market.
Which parts of Calgary are still gaining value?
On detached, two districts are up year over year and they are the same two as in July and August: the West at $993,700 and plus 2.69 per cent, and the City Centre at $981,300 and plus 0.72 per cent. The West was also the only detached district to rise from August. The City Centre fell 1.45 per cent on the month, so its annual gain is much smaller than it was. On semi-detached, the City Centre, North West and West districts are up on the year. Across all property types, CREB’s district benchmarks show the West up 1.7 per cent and the City Centre up 0.2 per cent, with the other six districts down. The weakest district overall is the North East, down 6.1 per cent across all types, where detached is down 6.01 per cent, row homes 11.86 per cent and apartments 13.07 per cent.