Calgary Market Watch: October 2026

Calgary's housing market cooled into winter in October 2026. Sales fell 15.3% from a year earlier to 1,592, the benchmark price held nearly flat at $564,200 (down 0.35%), and inventory eased 4.6% to 6,173 homes, according to CREB. Conditions varied widely by home type: detached homes stayed close to balanced at 3.34 months of supply, while apartments sat at 5.28 months with prices down 7.94% from a year earlier.

This report covers the October numbers, each property type, how prices moved over the past 12 months, the third quarter in context, a district by district look with a focus on NW Calgary, and what it all means if you are buying or selling.

1. What Is the Figure That Matters Most This Month?

Months of supply. It rose to 3.88 in October 2026 from 3.44 a year earlier, a 12.6% increase, even though the number of homes for sale fell. That happens when sales drop faster than listings: sales were down 15.3%, while new listings were down 9.4% and inventory 4.6%.

In a CREB explainer on housing demand indicators, the board describes two to three months of supply as normal activity in Calgary and says buyers' conditions start to emerge above three. Citywide, Calgary is now just past that line, but as section 3 shows, the picture changes a lot by home type. CREB's own headline for the month was that supply levels were easing as the market moved into winter.

2. What Do the Full October 2026 Numbers Show?

From September to October, the benchmark price dipped 0.44%, from $566,700 to $564,200, and inventory fell from 6,486 to 6,173 homes. The sale to list price ratio held at 97.3%, a sign that well priced listings are not being heavily discounted.

3. How Did Each Property Type Perform?

The sales to new listings ratio shows how much of the new supply is being absorbed. Semi detached and detached homes sold the equivalent of 61% and 56% of their new listings in October, while row homes and apartments sold about half. Semi detached homes were also the only property type with a higher benchmark than a year ago. Apartments saw the steepest drop in both sales and prices, and they take the longest to sell, at 55 days. Detached and semi detached homes, with months of supply near three, remain much closer to balanced conditions than row homes and apartments.

4. How Have Calgary Prices Moved Over the Past 12 Months?

Calgary's benchmark price followed a clear seasonal pattern over the past year. It fell through last winter to a low of $553,400 in January 2026, climbed through spring to a high of $572,500 in June, and eased again in September and October. For 2026 so far, the average benchmark price is $565,680, down 2.72% from the same period in 2025.

5. How Did the Third Quarter of 2026 Compare?

The third quarter showed the same pattern as October: fewer sales than last year, with prices close to flat. The benchmark slipped 1.0% over the quarter in 2026, from $572,500 in June to $566,700 in September, compared with a 2.3% slide over the same months in 2025. Homes are also taking longer to sell, at 40 days on market so far this year, up from 35.

6. How Did Calgary's Districts Compare, and What About NW Calgary?

CREB divides the city into eight districts. For detached homes, conditions in October 2026 ranged from tight to soft:

The eight district figures add up to 846 detached sales, one fewer than CREB's citywide total of 847, so the totals do not match exactly. The West and City Centre districts were the only ones where detached prices rose over the year, and the West had the tightest supply in the city at 2.51 months. The North East and East districts saw the biggest declines, with supply above four months.

NW Calgary in focus

In NW Calgary, detached homes remain the steadiest segment, with supply below three months and a benchmark about 4% above the citywide detached figure. NW apartments are cheaper than the citywide apartment benchmark and fell more over the year. The NW semi detached figures rest on just 12 sales, so treat that segment's numbers with caution. Community level numbers can differ again; our guide to living in Varsity shows one NW community's October figures.

7. What Does This Mean If You Are Buying?

• You have more choice in condos and townhomes. With 5.28 months of apartment supply and 4.44 months for row homes, buyers in these segments have time to compare and negotiate.
• Detached homes still move. At 3.34 months citywide and 2.96 in NW Calgary, well priced detached homes are not sitting long, at 39 days on market.
• Factor in rates. The Bank of Canada raised its policy rate to 2.50% on October 28, 2026, so get a pre-approval with a rate hold before you shop. On a mortgage for a benchmark detached home with 20% down, each quarter point adds roughly $80 a month, as our guide to how Bank of Canada rate changes affect Calgary buyers explains.
• Use the programs available. First time buyers should check our guide to first time home buyer programs and incentives in Alberta.

8. What Does This Mean If You Are Selling?

• Price to the current market. With a sale to list price ratio of 97.3%, buyers are paying close to asking for homes priced right, and less for those that are not. Our guide to how pricing works in a shifting Calgary market explains why.
• Know your segment. A detached home in the West or NW faces very different competition from an apartment in the North East.
• Expect a slower winter, with less competition. Last year, sales fell from 1,879 in October 2025 to 1,123 in December 2025, but inventory fell even faster, from 6,472 to 3,873 homes, about 40%. Fewer competing listings helps, but homes still took longer to sell in December 2025, at 53 days on market compared with 43 in October, so price realistically.
• Decide on timing with real numbers. If you are weighing whether to list now, our decision framework, Should You Sell Now or Wait?, walks through it.