Calgary home sales fall as condo oversupply presses prices lower
Ann-Marie Lurie, Chief Economist at the Calgary Real Estate Board in Alberta, tied the divergence to uneven supply conditions.
“Supply choice in the new, rental and resale markets has taken much of the pressure off prices this year. However, supply choice can vary significantly within the market, resulting in divergent impacts on prices,” she said.
“Much of the downward pressure on prices is occurring in the oversupplied higher-density segments of the market, while detached and semi-detached prices have remained more stable. Even within the detached market, we see variation as the City Centre and West districts continue to report price gains over 2025, while prices have declined by more than six per cent in the North East district.”
Aled ab Iorwerth of CMHC says greater certainty on trade could improve confidence among homebuyers and developers, supporting housing activity and construction at a time when higher rates and economic uncertainty continue to weigh on the market. https://t.co/3d7Cu3TCov
— Canadian Mortgage Professional Magazine (@CMPmagazine) November 3, 2026
What the data means for brokers
The condo segment’s sustained decline carries direct risk for Calgary mortgage professionals working in higher-density financing.
Earlier in 2026, mortgage broker Marko Gelo, who works across the Calgary and Vancouver markets, said he had been seeing “a noticeable uptick in appraisals coming in below purchase price,” a challenge that grows as transaction volumes thin and appraisers are left with fewer comparable sales to draw on.
