Benchmark price by property type
| Property type | Benchmark price | Year over year |
|---|---|---|
| Detached | $739,400 | −1% YoY |
| Semi-detached | $685,200 | about flat |
| Row / townhouse | $412,400 | −6% YoY |
| Apartment condo | $291,400 | −8% YoY |
How I read it
September looked very different from August. Sales came in at 1,650, just 4% below last September — after a 16% drop the month before. CREB’s own headline says why: detached home sales improved. Detached sales rose 4% year over year and semi-detached sales 5%, while apartment sales fell 14% and row home sales 18%.
Sellers stayed cautious. New listings were 11% lower than a year ago, so inventory finished the month at 6,486 homes — 6% fewer than last September and about 3.9 months of supply. That is a balanced market. Homes took 44 days on average to sell, two more than a year ago.
The benchmark price eased to $566,700, about 1% below last year and half a percent below August, which is normal for the fall. You may see headlines saying the average price rose almost 5%, to $646,198. That isn’t homes getting more expensive — it is more detached homes and fewer condos in the month’s sales. The benchmark price, which compares like with like, is the number to trust.
The split by property type is as wide as ever. Detached and semi-detached prices are essentially flat on the year. Apartments are 8% lower, with roughly five months of supply against just over three for detached homes, and row homes are down 6%. Rents help explain it: CMHC put Calgary’s apartment vacancy at 5% last year, with asking rents down about 8% from early 2024 to the end of 2025 and landlords offering incentives — so renting stays attractive, and condo investors are being choosy.
Rates are the news to watch. The Bank of Canada held its policy rate at 2.25% on September 2, its seventh straight hold, with inflation steady at 3.0% because of energy prices. Bond markets are less relaxed: the five-year Government of Canada yield hit a 52-week high near 3.73% in late September, and all six big banks have raised some fixed mortgage rates in recent weeks. Prime, which variable mortgages follow, hasn’t moved. The next Bank decision is October 28.
Two local items round out the month. Alberta again had the strongest population growth of Canada’s four largest provinces in the second quarter and led the country in people moving from other provinces, even as non-permanent residents continued to leave. And since August 4, basement suites have been a permitted use in Calgary, approved if they meet zoning, building and safety rules, on the same day the citywide rezoning repeal took effect.
If you're buying
- Have a pre-approval? Check when its rate hold expires. Fixed rates have risen this month, so a rate you locked earlier may be worth more than you think.
- Detached buyers: sales rose while new listings fell, so the best-priced homes are getting more attention than they did in the summer.
- Condo and townhouse buyers still have the most room to negotiate. Read the condo documents and the reserve fund plan before you chase a discount.
- Thinking about a basement suite for family or rental income? Basement suites are now a permitted use across Calgary, so approval depends on meeting the rules rather than on discretion.
If you're selling
- Price against your property type, not the citywide number. Detached and semi-detached values are flat on the year; apartments and row homes are 6–8% lower.
- There were 11% fewer new listings in September than a year ago. A well-prepared home has less competition this fall.
- Rising fixed rates trim what some buyers qualify for. Getting the price right at launch matters more than leaving room to negotiate.
- Selling a condo? Lead with the condo fees, the reserve fund and anything recently updated — investors and first-time buyers are both comparing carefully.
Sources
- CREB® — City of Calgary monthly statistics, September 2026
- Bank of Canada — rate announcement, September 2, 2026
- Statistics Canada — Consumer Price Index, August 2026
- Canadian Mortgage Trends — CIBC and TD raise fixed rates (Sept. 29, 2026)
- CMHC — 2026 mid-year rental market update
- Government of Alberta — Population statistics (Q2 2026)
- LiveWire Calgary — Basement suites become a permitted use
Figures are as published by CREB® for September 2026 and describe the Calgary market as a whole. They are not an appraisal, and no single property follows the average. For what your own home is worth, ask me for a comparable-sales review.