DetachedSales in September reached 896 units, up from August and more than four per cent higher than last year. The improvement in sales was partly due to a boost in new listings in September compared with August, giving consumers more options. With a sales-to-new-listings ratio of 52 per cent and a months of supply at just over three months, conditions remained relatively balanced. However, conditions have varied across the city, with less than three months of supply in the North West, West and South districts, and nearly six months of supply in the North East district. While the overall market is relatively balanced, the unadjusted benchmark price was one per cent lower than last year. The decline was primarily driven by steep pullbacks in the oversupplied North East district. Meanwhile, prices were higher than last year in both the City Centre and West districts. Semi-DetachedThe year-over-year gain in sales was not enough to offset earlier declines, as year-to-date sales have declined by two per cent for a total of 1,678 sales. The decline in sales matched year-to-date declines in new listings, but a monthly boost in September listings caused the sales-to-new-listings ratio to dip to 45 per cent, contributing to monthly inventory gains and pushing months of supply to nearly four months. While this is a shift from the tighter conditions reported in this sector throughout most of 2026, it is too early to say whether this will continue into the final quarter. While unadjusted prices did trend down in September, much of the decline was in line with typical seasonal behaviour. The unadjusted September benchmark price was $685,200, comparable to levels reported last year at this time. RowSales in September eased compared with August, while new listings rose, causing the sales-to-new-listings ratio to drop to 45 per cent. This also contributed to higher inventory levels compared with both last year and August, resulting in the months of supply rising above four months for the first time since the beginning of the year. Additional competition from new units has weighed on resale activity, as the price spread between new and resale homes remains relatively narrow. The additional supply choice for buyers has also weighed on row prices, but not to the same extent as in the apartment sector. As of September, the unadjusted benchmark price was $412,400, down nearly six per cent from last year. While prices have declined across all districts, the steepest declines, at more than 11 per cent, have occurred in the North East and East districts, while the smallest declines have occurred in the North West, at two per cent. Apartment CondominiumApartment sales improved from August, slowing the year-over-year pace of decline to 14 per cent. New listings also rose over August, with 343 sales and 717 new listings, leaving the sales-to-new-listings ratio at 48 per cent. The monthly gains in sales supported modest reductions in inventory levels and prevented any further increases in the months of supply, which remained just above five months. The excess supply of apartment-style units has weighed on prices throughout most of the year. As of September, the unadjusted benchmark price fell to $291,400, down more than one per cent compared with August and more than eight per cent lower than last September. While some of the monthly decline is seasonal, seasonally adjusted prices continued to decline.
REGIONAL MARKET FACTS
Airdrie
Sales in Airdrie continued to slow in September, contributing to the year-to-date decline of 13 per cent. Sales slowed across all property types, as increased competition from the new home market and competing markets in Calgary and other surrounding areas are weighing on demand. While sales eased in September, new listings also slowed and inventories trended down compared with August. However, the pullback in sales outpaced the inventory declines and the months of supply rose to four months. Additional supply choice continues to weigh on prices as well. As of September, the unadjusted total residential benchmark price was $505,800, nearly four per cent lower than last year. Prices have eased across each property type, with the largest declines occurring for higher-density homes. CochraneDespite the monthly pullback, sales remained higher than last year, and on a year-to-date basis, sales have increased by nearly six per cent. The rise in sales came with an increase in new listings, with new homes accounting for nearly 30 per cent of this year’s total listings. With 163 new listings and 68 sales, the sales-to-new-listings ratio dropped to 42 per cent in September, the lowest monthly level seen since January. This contributed to higher inventory and pushed the months of supply to five months. Despite this one-month shift, prices improved compared with August and are similar to last year’s levels. OkotoksAn increase in new listings compared with sales caused the sales-to-new-listings ratio to drop to 76 per cent in September, still higher than most other areas, but below the ratios of more than 80 per cent reported over the past two months. With 122 units in inventory and 56 sales, conditions remain relatively tight with just over two months of supply. Despite tighter conditions, increased competition from the new home market and competing markets has weighed on prices earlier this year. However, with an unadjusted total residential benchmark price of $606,800 in September, prices are stable relative to last September and are only one per cent lower on a year-to-date basis. ChestermereSales in September rose, helping to offset some of the gains in new listings. While the sales-to-new-listings ratio remained low at 38 per cent, inventory levels trended down from August and brought the months of supply back below six months. Significant new construction in the area, along with competing supply in Calgary and other surrounding areas, has weighed on prices in Chestermere over the past few months. However, year-to-date prices are only one per cent lower than last year. The unadjusted total residential benchmark price was $690,200 in September, down from August but similar to last year’s levels. |
