What is happening with Calgary condo prices?
What is happening with Calgary condo prices?
Calgary condo prices are falling, and condos are the softest part of the market. In October 2026, the apartment condo benchmark price was $288,800, down 7.9 per cent from last year, with 5.28 months of supply. That is buyer's market territory: lots of choice, longer selling times, and steady downward pressure on prices. Row homes (townhomes) are moving the same direction, at a benchmark of $407,500, down 5.1 per cent, with 4.4 months of supply.
The numbers behind the slide
Apartment condos are carrying the highest supply of any property type in Calgary. At 5.28 months of supply in October 2026, there were more than five months of listings available at the current sales pace, compared with 3.3 months for detached homes and 3.88 months overall. Citywide inventory stood at 6,173 active listings, and year-to-date sales are down nearly 11 per cent, so fewer buyers are absorbing a large pool of listings. When supply sits above five months for a sustained period, prices ease, and the apartment benchmark's 7.9 per cent year-over-year decline is the result.
Why condos are softer than houses
Detached homes are holding up far better, with a benchmark of $735,100, down just 0.7 per cent year over year. The gap comes down to supply. Calgary added a lot of new apartment and townhome inventory in recent years, and those new units compete directly with resale condos on price, incentives and finish. Detached homes have no equivalent wave of new supply at similar prices. For condo owners, that means your competition is not only the unit down the hall, it is also the new building across the street offering incentives.
What this means for condo sellers
Price to today's benchmark, not to what a similar unit sold for in 2024 or early 2025. In a market carrying 5.28 months of supply, an overpriced condo does not get negotiated down, it gets passed over, because buyers have four or five alternatives. Condo fees, the building's reserve fund and the documents a buyer will review also carry more weight than they did in a hot market, since buyers can afford to be selective. The condos that are selling are priced against the most recent comparable sales in the building and presented cleanly from the first day.
What this means for condo buyers
Buyers have genuine leverage for the first time in several years: choice, time to decide, and room to negotiate on price and conditions. The caution is building-specific. A lower purchase price can be undone by high condo fees, special assessments or a thin reserve fund, so the document review matters as much as the price. Buying the right unit in a healthy building at today's softer prices is a different proposition from buying the cheapest unit in a troubled one.
Noor's read
Condos are where Calgary's market correction is actually happening, while detached homes have mostly levelled off. For sellers, the strategy is honest pricing and strong presentation from day one. For buyers, this is the segment where patience and homework pay. Either way, building-level facts decide the outcome more than citywide headlines.
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Noor Shihab
Century 21 Bravo Realty
403-800-9255
calgarycondoandhomes.ca
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