November 2026 | Richter Pilon Real Estate Team
If you've been following Calgary's real estate market lately, you've probably noticed some conflicting headlines. Some suggest home prices are holding steady, while others report falling prices and increasing competition.
So, what's really happening?
The answer is that Calgary is no longer experiencing one single real estate market. Detached homes, townhouses and apartment condominiums are performing quite differently, and understanding those differences has become increasingly important for homeowners considering selling or buying.
A Tale of Two Markets
According to the Calgary Real Estate Board (CREB®), October 2026 statistics highlight just how different market conditions have become.
Here's how Calgary's major housing categories compared:
While detached homes have generally maintained their value, apartment condominiums have experienced noticeably greater price adjustments.
In fact, Calgary's apartment condominium benchmark price is now approximately 15% below its August 2024 peak.
But why are these markets moving in different directions?
1. Calgary Has Built a Lot More Condos and Townhouses
Over the past several years, Calgary has experienced significant residential construction activity, particularly in higher-density developments.
This has introduced more apartment condominiums, townhouses and rental properties into the market, giving buyers considerably more choice.
When buyers have more options, sellers face increased competition.
Detached homes, on the other hand, haven't experienced the same level of new supply. With fewer comparable properties available in certain neighbourhoods, prices have generally been more resilient.
It's a classic example of supply and demand.
2. Detached Homes Are Still Holding Their Ground
Despite a slower overall market, detached homes continue to attract buyers looking for more space, private yards, garages and established neighbourhoods.
In October, Calgary's detached market had just over three months of housing supply, reflecting relatively balanced conditions.
However, location makes a significant difference.
Some areas, including Calgary's City Centre and West districts, have experienced stronger price performance, while parts of the North East, North and East have seen more noticeable declines.
This is why we always remind our clients that citywide statistics only tell part of the story.
A detached home in Bowness, for example, shouldn't be evaluated the same way as a similar-sized home in another part of Calgary.
Lot size, location, condition, redevelopment potential and the number of competing listings all influence market value.
3. Condo Buyers Have More Negotiating Power
Calgary's apartment condominium market has shifted more noticeably in favour of buyers.
With over five months of available supply in October, buyers generally have more properties to compare and greater opportunities to negotiate.
Competition from newly constructed condominiums and rental properties has also affected resale demand.
For condo owners considering selling, this doesn't mean your property can't sell successfully.
It means pricing, presentation and marketing are more important than ever.
Properties that are properly priced, professionally photographed and positioned effectively against competing listings have a better opportunity to attract serious buyers.
For purchasers, current conditions may create opportunities to enter the market with more choice and less urgency than we've seen in previous years.
4. What Does This Mean for Calgary Homeowners?
If you own a detached home, the market may be holding up better than the headlines suggest, particularly if your property is located in an established or desirable neighbourhood.
If you own a condominium or townhouse, it's important to understand how much competing inventory is available and what similar properties are actually selling for.
And if you're considering purchasing, you may find that certain property types offer more negotiating flexibility than others.
One thing is certain: the days of simply putting a property on MLS® and expecting multiple offers are not something sellers should automatically count on.
Today's market rewards proper preparation, realistic pricing and a well-executed marketing strategy.
Thinking About Buying or Selling in 2027?
As we approach the end of 2026, many homeowners are wondering what their property is worth and whether they should make a move now or wait until spring.
The right answer depends on your individual property, neighbourhood and circumstances.
Jeff and I have worked with buyers and sellers throughout Calgary and the surrounding communities, and one thing we've learned is that no two properties — or real estate situations — are exactly alike.
Whether you own a detached home, townhouse, condominium or investment property, we'd be happy to provide a personalized market evaluation and discuss your options.
Thinking about making a move? Let's grab a coffee and talk real estate.
No pressure, no obligation — just straightforward advice to help you make an informed decision.
Chris Richter & Jeff Pilon
Richter Pilon Real Estate Team
RE/MAX House of Real Estate
Calgary & Surrounding Communities
Source: Calgary Real Estate Board (CREB®), October 2026 Monthly Housing Statistics, released November 2, 2026. Benchmark prices represent typical properties within each housing category and do not reflect the value of every individual home.