Calgary housing market softens as row homes, apartments see price declines
Row homes and apartments saw benchmark prices fall by more than five and eight percent respectively, while detached and semi-detached prices held steady.
CALGARY · The Calgary Real Estate Board reported a continued softening in the city's residential market last month. Row homes and apartments experienced the most significant downward pressure on prices. New listings fell by more than nine percent compared to October 2025, while sales dropped by over 15 percent. This led to a 4.6 percent decrease in overall inventory from the same time last year. The average time a home sits on the market increased by 2.2 percent, and the months of supply rose by more than 12 percent to 3.88.
CREB chief economist Ann-Marie Lurie said the market conditions are not uniform. "Supply choice in the new, rental and resale markets has taken much of the pressure off prices this year. However, supply choice can vary significantly within the market, resulting in divergent impacts on prices," Lurie said. She noted that price pressure is most evident in higher-density segments. "Much of the downward pressure on prices is occurring in the oversupplied higher-density segments of the market, while detached and semi-detached prices have remained more stable."
The benchmark price for a row home fell by more than five percent year-over-year to $407,500 in October. While inventory for this category was stable, decreasing sales pushed the months of supply up to 4.4. For apartments, decreased demand drove the benchmark price down by eight percent to $288,800. Inventory levels were 13 percent higher than typical for October, and months of supply surpassed five months.
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Detached and semi-detached homes presented a different picture, each with about three months of supply. Their benchmark prices were nearly unchanged from October of last year. A detached home had a benchmark price of $735,100, while a semi-detached home was priced at $685,200. Within Calgary, price changes varied by district, with declines of around six percent in the northeast and east, and increases of 2.5 and 1.8 percent in the west and city centre respectively.
Benchmark prices also declined slightly in several nearby communities. In Airdrie, the benchmark price for a detached home was $587,300, which is 20 percent lower than in Calgary. Declining sales and inventory there kept months of supply just over four months. Cochrane saw its months of supply rise to nearly six months, the highest since early 2020, and its benchmark price fell by nearly two percent to $571,100.
With files from Yahoo News and Calgary Herald