Supply Is Easing Into Winter — But Calgary Is Still a Market of Two Stories

by Raj Dhaliwal & Sukh Dhaliwal

Sales and new listings both slowed in October. Detached and semi-detached prices are holding steady, while condos and row homes keep adjusting.

October is when the market starts shifting into winter mode, and 2026 was no exception. Calgary recorded 1,592 sales, down 15% from last October, while new listings pulled back 9% to 2,928. With fewer homes coming up for sale, inventory eased to 6,173 homes, about 5% lower than a year ago.

The city-wide benchmark price landed at $564,200: a small seasonal dip from September's $566,700, and just 0.4% below last October. For the year so far, prices are down nearly 3% compared with 2025. That headline looks calm, but underneath it there are very different stories depending on what you're buying and where.

What's behind the slowdown

Two things are happening at once. Sellers are pulling back: new listings are down 9%, which is why inventory is now lower than last year. And buyers are staying cautious: sales were about 3% below September. It's worth remembering that last October was a strong month (1,879 sales), so part of the 15% drop is a tough comparison. Year-to-date, sales are down about 11%.

With just under four months of supply, the overall market is still in balanced territory. But that's an average of very different segments. Homes sold for about 97.3% of their list price on average after roughly 43 days on the market, which tells you there's real room to negotiate.

Prices by property type — October 2026‌‌‌‌‌‌

Your district matters more than the city average

The most useful number this month isn't the city-wide price. It's the spread between districts. Looking at total residential benchmark prices versus last year:

For detached homes, the West district has just 2.5 months of supply and prices up about 3%, while the North East (−6.6%) and East (−6.8%) have more than four months of supply. South is flat (+0.1%), and the South East, North West and North are down between 1% and 3%. Same city, same month, very different conditions.

Around the region

Cochrane is the one to watch. Months of supply approached six for the first time since early 2020, helped by a rising share of newly built homes on the resale market. That said, year-to-date sales are still about 4% ahead of 2025. Okotoks remains relatively tight at around three months, though that's its highest level this year. Chestermere has nearly six months of supply and prices trending down since July. And in Airdrie, competition from new homes and neighbouring markets continues to weigh on resale prices.

What to watch this winter

A quieter season is normal. Listings typically thin out heading into December and January, and unadjusted prices often dip seasonally. A softer number in the next report doesn't necessarily mean something has changed.

Condos and row homes stay buyer-friendly. With 5.3 and 4.4 months of supply plus plenty of rental and new-build choice, buyers should keep their leverage.

Detached and semi-detached stay steadier. Conditions remain relatively balanced, with the West and City Centre the strongest districts.

What this means for you

If you're buying, winter usually means less competition, and condo and row buyers have the most room to negotiate. If you're selling, pricing right from day one matters most, especially in balanced segments where buyers have options. And if you're staying put, the city-wide change is small. Your district and property type tell the real story, and we're happy to look yours up.

property type tell the real story, and we're happy to look yours up.