Calgary's market cooled in October, as it usually does heading into winter. Sales slowed to 1,592, and inventory eased with them. Detached and semi-detached prices held close to last year, while row homes and apartment condos kept sliding. According to the Calgary Real Estate Board (CREB®), the gap between those two halves of the market is the story again this month.
October 2026 by the numbers
Sales of 1,592 were down 15.3% from October 2025, and year-to-date sales are nearly 11% lower. Inventory fell to 6,173 homes, nearly 5% below last October, which kept months of supply just under four.
How October compares with September
Prices eased a little from September, which is normal for this time of year. The detached benchmark slipped from $739,400 to $735,100, row homes from $412,400 to $407,500, and apartments from $291,400 to $288,800. Semi-detached held flat at $685,200. For the full September picture, see my September 2026 market update.
Why is the market still split?
It comes back to supply. New construction and added rental options have given buyers far more choice in apartments and townhomes, and that is where most of the price pressure sits. CREB's chief economist, Ann-Marie Lurie, described the result as supply choice having "divergent impacts on prices" across the market. Detached and semi-detached homes, with about three months of supply, remain relatively balanced.
Location still matters inside the detached market. CREB reports year-to-date detached price gains in the City Centre and West districts, while the North East is down more than 6%. Row homes in the North East and East are down more than 11% year to date.
What does the rate hike change?
On October 28 the Bank of Canada raised its policy rate to 2.50%, and the big banks moved prime to 4.70% the next day. That adds roughly $55 a month to a $400,000 variable rate mortgage over 25 years. It will not change the market overnight, but it does trim what some buyers qualify for, mostly at entry-level price points. I break it down in what the Bank of Canada increase means for Calgary.
What this means if you are buying
Condo and townhome buyers have real leverage. With more than four months of supply in row homes and more than five in apartments, there is room to negotiate on price, conditions and possession.
Detached buyers should not expect big discounts. About three months of supply means well-priced homes still sell, especially in the West and City Centre.
Get your financing confirmed, not just estimated. After a rate increase, an updated pre-approval matters. Here is why a pre-approval is not the same as a mortgage approval, and the basics are on my mortgage and finance page.
See how I approach a purchase on my buying page.
What this means if you are selling
Price to today's competition, not last spring. Prices did not get the usual spring lift in 2026, so year-to-date values are nearly 3% below last year.
Condo and townhome sellers face the most competition. Condition and pricing need to stand out against new builds and rentals.
Detached sellers in balanced areas are in a steadier position, but your district makes a big difference.
Start with a free home evaluation based on recent sales near you, and see how I market a home on my selling page.
What about the surrounding towns?
Okotoks: 45 sales and 137 homes in inventory put months of supply at three, the highest this year but still balanced. Year-to-date benchmark prices are 1% lower than last year. More in my guide to moving to Okotoks from Calgary.
Airdrie: just over four months of supply. The detached benchmark dropped to $587,300.
Cochrane: months of supply approached six, the highest since early 2020. Benchmark $571,100.
Chestermere: just under six months of supply. Benchmark $683,800, more than 3% below October 2025.
The bottom line
October was a normal seasonal slowdown with the same split we have seen all year. If you own a detached or semi-detached home, your value has largely held. If you are buying a condo or townhome, this is a buyer's market. For the latest monthly numbers at a glance, see my CREB market update page, or call or text me at 403-831-1242.
Sources: CREB®, Supply levels ease as we move into winter (November 2, 2026); CTV News, Calgary home sales drop 15.3% in October (November 2, 2026). Benchmark prices are unadjusted MLS® Home Price Index values for the City of Calgary.
Pete Chapman, REALTOR®, REMAX Innovations. Mortgage Associate, Dominion Lending Centres "Mortgages Are Marvellous".
