CREB's October numbers came out today, and the split I wrote about last month is still the main story. Sales slowed, sellers listed fewer homes, and supply held just under four months. Detached and semi-detached homes are holding their value. Condos and townhouses are where buyers have the leverage.
The big picture: fewer sales and fewer listings
Calgary recorded 1,592 sales in October, down 15% from October 2025 and a little below September. Year to date, sales are down about 11%. New listings dropped to 2,928, 9% fewer than last October, so sellers pulled back too. Inventory was 6,173 homes, nearly 5% lower than a year ago.
Because sales and listings both fell, months of supply barely moved. It was 3.9, the same as September (last October it was 3.4). The sales-to-new-listings ratio rose to 54%, up from 49% in September. Homes took about 43 days to sell on average, the same as a year ago.
The total residential benchmark price was $564,200, down $2,500 from September and less than half a percent below last October. Some easing in the fall is normal. The bigger point is that the usual spring bump never showed up this year, so year-to-date prices are nearly 3% lower than 2025.
Detached and semi-detached: still balanced
Detached sales fell to 847, nearly 16% below last October. From September, new listings dropped faster than sales, so the sales-to-new-listings ratio rose to 56% and months of supply sits just over three. The detached benchmark is $735,100, less than 1% below a year ago. Detached homes took about 39 days to sell.
The citywide number hides a big spread by district. CREB says the City Centre and West districts are still posting detached price gains over 2025, while detached prices in the North East are down more than 6%. Same city, very different negotiations.
Semi-detached was the one property type where sales picked up from September. There were 184 sales, about even with last October, and the sales-to-new-listings ratio was 61%, the highest of any type. Months of supply fell back to about three. The semi-detached benchmark is $685,200, about 1% higher than a year ago.
Condos and townhouses: buyers have the leverage
Apartment condos are still the softest part of the market. There were 320 sales, down 22% from last October, and months of supply is above five. Condos took about 55 days to sell. The benchmark price is $288,800, 8% lower than a year ago and 15% below the August 2024 peak. Inventory did come down from September, but at 1,691 units it is still 13% above a typical October.
Row and townhouse sales fell 12% to 241. Listings did not drop as fast as sales, so inventory held steady (5% higher than last October) and months of supply rose to 4.4. The row benchmark is $407,500, down 5% from a year ago. In the North East and East districts, row prices are down more than 11% year to date.
CREB's chief economist, Ann-Marie Lurie, said most of the downward pressure on prices is in "the oversupplied higher-density segments of the market." New builds and new rentals are competing directly with resale condos and townhouses, and that is where the price drops are showing up.
What this means for investors
If you buy for rental income, condos and townhouses are where the leverage sits. Prices are lower than a year ago, there are more than five months of condo supply, and units are taking close to two months to sell. That gives you time to compare buildings and negotiate on price and conditions.
The catch is rent. CREB points to easing rental rates as one reason resale condo demand is soft. A lower purchase price only helps your numbers if the rent holds up, so run your math on what similar units are renting for today, not what they rented for last year. Look hard at condo fees and the reserve fund too, since fees are often what makes or breaks cash flow on a condo.
Detached and semi-detached homes are a different trade. With about three months of supply, sellers are giving up less on price, and these homes have held their value better. If you want a house with a suite, the discounts are more likely in districts like the North East than in the City Centre or West.
What this means if you're making a move
Buying a condo or townhouse: you have room to negotiate. Take your time, compare a few buildings, read the condo documents, and don't feel pushed by the season.
Buying a detached home: expect a balanced market, not a soft one. In the stronger districts, well-priced homes still sell. Have your financing ready so you can move when the right one comes up.
Selling a detached or semi-detached home: you're in a decent position, with fewer competing listings than a month ago. Buyers are still price-sensitive, so pricing it right from day one matters more than anything else.
Selling a condo or townhouse: you're competing with resale units, new builds and rentals all at once. Price to the market and present the home well. If you don't need to sell now, holding and renting may be worth a look, but run the numbers on today's rents before you decide.
Numbers are from the CREB October 2026 release. If you want to know what this means for your home, your search or a rental you're looking at, reach out anytime. I'm always happy to talk it through. And if you'd like these updates in your inbox each month, sign up below.