Is Calgary’s real estate market slowing down? The short answer is yes — but there’s more to the story!
As we welcome September, the latest August numbers show Calgary’s real estate market continuing to settle, with both sales and new listings trending below 2025 levels. Inventory remains elevated, giving buyers more options in many areas and creating a more competitive environment for sellers.
But if there’s one thing we’ve been saying all year, it’s this: Calgary is NOT one market!
What’s happening with detached homes can look very different from what’s happening with condos. And even within the same property type, your community, price range and the condition of your home can make a big difference.
Let’s take a closer look at what the August numbers tell us.
Calgary Real Estate Market: August at a Glance
Here are the key numbers from August:
Sales: 1,660 homes, down 16% compared with August 2025.
New listings: 3,141, down nearly 10% year over year.
Inventory: 6,509 homes on the market.
Months of supply: Nearly four months.
Benchmark price: $569,800, virtually unchanged from July and approximately 1% below August 2025.
So, what does all of this mean?
We're seeing fewer sales than last year, but we're also seeing fewer new listings coming onto the market. With more homes available for buyers to choose from, the overall market is moving toward more balanced conditions.
For buyers, that can mean less pressure to make a quick decision. For sellers, it means understanding the competition and pricing strategically is more important than ever.
One City, Very Different Markets
This is where things get interesting! Looking at Calgary as a whole only tells us part of the story. When we break the numbers down by property type, we see some important differences.
Detached and Semi-Detached Homes
Detached and semi-detached homes are experiencing just over three months of supply, putting these segments in relatively balanced market conditions.
Buyers have more options than they did during the stronger seller-market years, but that doesn't mean every home is struggling to sell. Desirable properties that are priced appropriately and presented well can still attract serious interest.
For sellers, the goal is to understand what buyers are comparing your home against and how your property stacks up. For buyers, having more choices may create opportunities to negotiate and take the time to make a well-informed decision.
Apartment-Style Homes and Condos
The apartment-style market continues to face more supply pressure, with nearly six months of supply.
That means more competition among sellers and more choice for buyers. If you're shopping for a condo, this could be an opportunity to compare properties carefully, consider your options and potentially negotiate on price or conditions.
For condo owners thinking about selling, preparation matters. Buyers are looking at more than just the asking price. Condo fees, the condition of the building, reserve fund information, location, parking and the overall value of the property can all influence their decision.
A condo market and a detached-home market can behave very differently, even when they're only a few kilometres apart.
What About the Luxury Market?
Interestingly, the $1 million-plus segment is seeing increased sales activity, particularly among detached and semi-detached homes.
With greater supply and more properties to choose from, some buyers in this price range are finding opportunities that may not have been available when competition was stronger.
Meanwhile, activity in the lower price ranges remains softer. One contributing factor is that favourable rental conditions are making renting a more attractive option for some households, slowing the transition from renting to homeownership.
This is another reminder that affordability, lifestyle, financing and individual circumstances all play a role in real estate decisions.
What Does This Mean for Calgary Buyers and Sellers?
If You're Thinking About Buying
You may have more choices and less pressure than buyers experienced in a hot seller's market. Depending on the property type and community, there may also be room to negotiate.
This is a great time to look beyond the asking price. Review comparable sales, understand the property's condition, consider ongoing ownership costs and make sure the home fits your needs and budget.
And remember, the right home isn't necessarily the newest listing or the one with the most attractive photos. It's the one that makes sense for you.
If You're Thinking About Selling
Pricing and presentation are more important than ever.
Buyers have options, so it's essential to understand your competition before deciding on an asking price. Looking at what similar homes are actually selling for — rather than relying only on current list prices — helps establish a realistic strategy.
Professional marketing, thoughtful preparation and honest conversations about pricing can help position your home to stand out.
Sometimes, launching at the right price from the beginning can make a meaningful difference. If the market doesn't respond as expected, listening to buyer feedback and adjusting your strategy may be necessary.
The Bottom Line: Your Market Is What Matters
So, when someone asks, “What is the Calgary real estate market doing?” our answer is still: It depends!
Your neighbourhood + property type + competition = your real market.
Calgary's overall numbers provide valuable context, but they don't tell the whole story about your particular home or the property you're hoping to buy.
At Russell Realty with CIR Realty, we believe good real estate decisions start with understanding the numbers, having honest conversations and creating a plan that makes sense for your circumstances — not simply following the headlines.
Whether you're considering buying your first home, moving up, downsizing or selling a property you've loved for years, we're here to help you understand your options without pressure.
Thinking about making a move this fall? Let's look at your specific market, your goals and the opportunities available to you.
Because real estate isn't just about buying and selling homes. It's about helping people make confident decisions about where they live.