Housing Check: Calgary home sales fall 3.8% in September

Calgary home sales fell 3.8 per cent in September from a year earlier to 1,650, and the city’s benchmark price slipped 0.8 per cent to $566,700, the Calgary Real Estate Board (CREB) said in its monthly report, with condos and townhouses taking the biggest hit.

This is Housing Check, our weekly look at one Canadian housing market. This week is Calgary. Earlier stops in the series were Toronto and Vancouver.

New listings dropped faster than sales. CREB reported 3,354 new listings in September, down 11.3 per cent from a year ago, while inventory sat at 6,486 homes, down 6.3 per cent. Dividing sales by new listings gives a ratio of about 49 per cent, and dividing inventory by sales gives roughly 3.9 months of supply. Both are our own calculations from CREB’s figures, not numbers published by the board.

Ann-Marie Lurie, CREB’s chief economist, said demand has been strong enough to absorb some of the supply but not enough to offset newly added high-density supply, “resulting in a more significant impact on prices for higher-density homes.” The split shows in the board’s benchmark prices by property type.

Source: CREB September 2026 data, as reported by CP24.

The apartment benchmark of $291,400 is less than half the detached figure. Apartments were 8.3 per cent cheaper than a year earlier, while the detached benchmark was down 1.0 per cent and the semi-detached benchmark was flat.

On the rental side, the picture is similar. Rental platform liv.rent said in its September Calgary and Edmonton rent report that the average unfurnished one-bedroom in Calgary fell to $1,442 from $1,465 in August, and was down 5.3 per cent from a year earlier. A furnished one-bedroom averaged $1,539, down from $1,576 in August and 13.5 per cent lower than a year ago. The unfurnished average has stayed between $1,440 and $1,469 a month since April, the report said. Its October edition puts the unfurnished one-bedroom at $1,453. liv.rent’s figures come from its own listings and are not a national benchmark such as CMHC’s annual rental survey.

Within the city, the unfurnished one-bedroom average ranged from $1,521 in the southwest to $1,268 in the northeast, according to the same report. Only the city centre saw its furnished one-bedroom rent rise in September, up 2.54 per cent to $1,916.

The Bank of Canada is scheduled to announce its next interest rate decision today, Oct. 28, alongside its Monetary Policy Report. The bank’s key interest rate page shows it held the policy rate at 2.25 per cent on Sept. 2. Variable mortgage rates follow the policy rate, so borrowers with variable mortgages will see any change first. We have not included lender mortgage rate quotes this week because the banks’ own rate pages could not be verified directly. Our Money Week Canada edition has the decision date and other money dates this week.

On supply, our report on September housing starts noted that Calgary and Vancouver gained while Toronto fell. More new apartment and row-house construction is the kind of supply Lurie pointed to when she explained why higher-density prices are under the most pressure.

Tenants and landlords can check how rent rules differ across the country in our guide to rent increase limits for 2027.

CREB publishes its October figures in the first days of November. Housing Check returns next Wednesday with another city.

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