Calgary Market Update OCTOBER 2026 |Calgary Houses Tightened. Townhomes Didn't.

Calgary houses had less supply per sale this September than last: 3.31 months vs 3.73. Townhomes hit 4.45, their loosest month of 2026. This is the Calgary real estate market update for October 2026, covering the September data CREB released on October 1st. Calgary had 1,650 sales in September, down 3.85% from last September and almost exactly August's number. That's unusual. Last year, sales fell 13.60% from August to September. This year detached sales rose 2.63% over the same month and finished 4.43% above last September. City-wide months of supply came in at 3.93, against 4.03 a year ago. It's the first month of 2026 with less supply per sale than the year before. Townhomes went the other way. Row sales fell 12.68% from August, new listings rose, and months of supply jumped to 4.45, the highest reading this year. Inventory across the city is down 6.26% from last September, but townhome inventory is up. CREB's chief economist puts it down to where the last three years of construction went: mostly condos and townhomes, not houses. On price, the benchmark is $566,700, down 0.82% from last September. That gap has narrowed for nine months. Last month I said about three-quarters of that was real gains. It's now closer to half, and the benchmark is down 1.01% since June. Last October's benchmark was $566,200, below today's, so a "prices are up year over year" headline is close. I explain why most of that would be last fall's decline, not this fall's prices. New this month, I went below the district level using CREB's community packages. Detached sales were up 4.43% from last September across the city, but down 21% in the South East and 27% in the North East. In communities where builders are still selling houses, supply ran 5.50 months against 3.02 in the finished ones. In the South East it's 6.42 against 2.47, inside the same district. Then the $300,000 to $499,999 range, where condo sales fell 33.7% from last September and house sales rose 25.0%. Then every property type by district: West is the only district clearly above last year, and North East is the one district where houses are a buyer's market, at 5.61 months. Last, what buyers and sellers should do with this, how my six calls from last month did (two right, four wrong), and five new ones for next month. TIMESTAMPS 0:00 Calgary market Oct 2026 1:13 Houses vs townhomes 2:03 Supply by property type 2:54 Detached sales rose 3:42 Where the gain came from 4:25 Townhomes loosest of 2026 5:05 What got built 5:38 Follow the cranes 6:37 Supply vs last year 7:14 Benchmark vs 2025 7:38 Are price gains real? 8:26 The coming Y/Y flip 9:06 Entry-level buyers moved 9:45 Which districts improved 10:27 How many communities up 11:08 Detached by district 11:45 Building vs finished 13:11 Semi-detached by district 13:45 Townhomes by district 14:24 Condos by district 15:01 Buyer vs seller grid 15:24 My calls: 2 of 6 right 16:23 Buying in Calgary now 17:21 Selling in Calgary now 18:28 Next month's calls DATA SOURCE CREB City of Calgary Monthly Statistics Package, September 2026, released October 1, 2026, plus CREB's September 2026 community summaries by property type and the Regional package. The economist quote is from the October 1 release. Communities where builders are still selling come from my new construction database (October 14, 2026); that comparison includes builder homes listed on MLS.