Calgary’s Detached Market Gains Strength in September

September home sales totalled 1,650 units, similar to August and nearly four per cent lower than September 2025. Although September sales typically decline from August, stronger detached-home activity helped limit the seasonal pullback. New listings also increased from August, bringing the sales-to-new-listings ratio down to 49 per cent and keeping inventory relatively stable. Months of supply remained just under four months, unchanged from August.

Market conditions continued to vary considerably by property type. Detached homes remained relatively balanced, with increased listings supporting stronger sales in September. In contrast, higher supply levels for apartment and row homes contributed to buyer-market conditions as demand was spread across more choices, including rental and newly built homes. The increase in higher-density supply reflects strong construction activity over the past three years, while detached-home construction did not increase to the same extent. Strong employment and positive, though slower, net migration have supported housing demand, but not enough to fully absorb the additional higher-density supply.

Prices showed some typical seasonal declines in September, although seasonally adjusted figures indicated that overall prices were relatively stable compared with August. The unadjusted residential benchmark price was $566,700, nearly one per cent below last year. The largest year-over-year declines were concentrated in higher-density properties, with row homes down nearly six per cent and apartments down more than eight per cent. Detached prices were one per cent lower than last year, while semi-detached prices were broadly comparable with last year.

Detached sales reached 896 units, more than four per cent higher than last year, while conditions remained relatively balanced with just over three months of supply. Semi-detached sales remained two per cent lower year to date, and increased September listings pushed months of supply to nearly four months. Row-home sales eased while listings increased, pushing supply above four months and contributing to a benchmark price of $412,400, nearly six per cent below last year. Apartment sales improved from August but remained 14 per cent below last year, with more than five months of supply and a benchmark price of $291,400, down more than eight per cent year over year.

Conditions also varied across surrounding communities. Sales in Airdrie continued to slow, contributing to a 13 per cent year-to-date decline, while increased competition contributed to a benchmark price nearly four per cent below last year. Cochrane recorded nearly six per cent year-to-date sales growth, although higher listings pushed months of supply to five and prices remained close to last year's levels. Okotoks maintained relatively tight conditions with just over two months of supply, while its September benchmark price of $606,800 was broadly stable year over year. In Chestermere, increased sales helped reduce inventory and brought months of supply below six, while the September benchmark price of $690,200 remained similar to last year's level.