If you’re living in Calgary and thinking about buying a home, the real question may not simply be:
“Will home prices continue to fall?”
A better question is:
“Given today’s market conditions, does buying a home make sense for me and my family?”
As of September 2026, my answer is: This could be a good time for buyers to explore opportunities — but not every property type or area of Calgary is experiencing the same market.
What is happening in Calgary’s housing market?
According to CREB®’s August 2026 statistics:
Calgary recorded 1,660 sales, down 16% from August 2025.
There were approximately 6,509 homes in inventory.
Months of supply increased to nearly 4 months.
The overall benchmark price was $569,800, about 1% lower than the previous year.
What stands out to me isn’t simply the 1% decline in prices.
It’s that buyers generally have more choice and more time to make decisions than they did during Calgary’s highly competitive market of recent years.
However, the market looks very different depending on the type of property you’re buying.
Detached homes: The benchmark price was approximately $744,300, down about 1% year-over-year, with just over three months of supply.
Row/Townhouses: The benchmark price was approximately $415,200, down about 5%.
Apartment condos: The benchmark price was approximately $295,400, down about 8%, with close to six months of supply.
In other words, a buyer shopping for a condo may have significantly different negotiating power than someone competing for a desirable detached home in a high-demand community.
What about interest rates?
On September 2, 2026, the Bank of Canada maintained its policy interest rate at 2.25%, where it has remained since late 2025.
That does not mean your mortgage rate will be 2.25%. Mortgage rates depend on the lender, mortgage type and term, your financial profile, and other factors.
However, the interest-rate environment has become more stable compared with the period of rapidly rising rates we experienced previously.
So, should you buy now?
I wouldn’t recommend buying simply because you hear that “prices are down.”
I would consider buying in today’s market if:
You have stable income and sufficient down payment.
The mortgage payment comfortably fits your household budget.
You plan to own the property for the medium to long term.
You find the right property in the right community for your needs.
Most importantly, the numbers make sense for that particular property — not simply because the overall market has become more favourable to buyers.
Clara’s Perspective
What I like about the current market is that buyers have more opportunity to make decisions based on the numbers rather than emotion or fear of missing out.
Higher inventory, price adjustments in some segments, and longer selling times can give buyers more opportunity to compare properties, complete proper due diligence, and negotiate instead of feeling pressured to make an immediate decision.
But I would not say that “2026 is a good time to buy every property in Calgary.”
A condo in a market with excess supply should be evaluated very differently from a detached home in a desirable NW Calgary community where supply may still be below three months.
The best time to buy isn’t simply when the market is down. It’s when your finances are ready and you can purchase the right property at a price that makes sense.
Sources: CREB® Calgary Housing Market Statistics, August 2026; Bank of Canada, September 2, 2026.
https://www.creb.com/News/Media_Releases/2026/September/August_2026_Stats/
https://www.bankofcanada.ca/core-functions/monetary-policy/key-interest-rate/
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