CALGARY
Calgary home sales fell 15.3 percent in October compared with a year earlier as prices declined, led by a sharp drop in apartment condominiums.
The Calgary Real Estate Board says there were 1,592 home sales last month, as the residential benchmark price fell 0.4 percent to $564,200.
"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," said Ann-Marie Lurie, the board's chief economist.
Apartment condominiums saw the steepest year-over-year price decline, falling 7.9 percent to a benchmark of $288,800, which is 15 percent below the August 2024 peak.
Row-style homes dropped 5.1 percent to $407,500.
Detached home prices dipped 0.7 percent to $735,100, while semi-detached prices edged 0.8 percent higher to $685,200, the only property type to post a gain.
Total inventory fell 4.6 percent from October 2025 to 6,173 homes for sale, while new listings declined 9.4 percent to 2,928.
The months-of-supply ratio held just below four months, sustained by persistent oversupply in higher-density housing.
Apartment condominiums have more than five months of supply, placing the sector firmly in buyer's market territory.
Row-style homes tracked a similar path as competing new construction and expanded rental supply continued to weigh on resale demand.
Detached and semi-detached segments held at roughly three months of supply.
Lurie said supply choice in the new, rental and resale markets has taken pressure off prices this year, but that choice varies significantly within the market.
"Supply choice can vary significantly within the market, resulting in divergent impacts on prices," she said.
"Even within the detached market, we see variation as the City Centre and West districts continue to report price gains over 2025, while prices have declined by more than six per cent in the North East district."
The sustained decline in the condo segment carries direct risk for mortgage professionals working in higher-density financing.
Earlier in 2026, mortgage broker Marko Gelo, who works across the Calgary and Vancouver markets, said he had been seeing "a noticeable uptick in appraisals coming in below purchase price," a challenge that grows as transaction volumes thin.
This pressure sits against Calgary's record home construction in 2025, which delivered more than 27,900 new homes, more than double the 10-year annual average of 13,199.
In surrounding markets, Airdrie's year-to-date sales fell 13 percent, Cochrane approached six months of supply for the first time since early 2020, and Okotoks held at three months.
The year-to-date sales total has contracted nearly 11 percent, driven by declines in apartment condominiums and row-style homes, even as demand for homes priced above $1.5 million edged higher.
Aled ab Iorwerth of CMHC says greater certainty on trade could improve confidence among homebuyers and developers, supporting housing activity and construction at a time when higher rates and economic uncertainty continue to weigh on the market.
This story was written by the e2gold.ca newsroom from reporting by BNN Bloomberg and Mortgage Professional America. Quotes are checked word for word against that reporting.