One property type in Calgary has seen prices plummet since last year
A new real estate report just revealed that apartments are seeing the biggest year-over-year price drops in Calgary, declining by almost eight per cent.
The Calgary Real Estate Board recently released its October 2026 housing report, and
it showed that apartment condominiums are facing downward price pressure as the market deals with oversupply and a lack of demand.
“With over five months of supply, apartment condominiums continue to struggle with excess supply and price declines. Easing rental rates and competing product in the new home market have lowered demand for resale condominiums,” the report said.
In October, the benchmark price for an apartment condominium was $288,800, down eight per cent compared with the same time last year and 15 per cent below its peak in August 2024.
The report also found that Calgary had 1,691 apartment condominiums in inventory last month, 13 per cent higher than typical October levels.
Calgary Real Estate Board
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East Calgary saw the largest decline in apartment prices, dropping by 13 per cent year-over-year, with a benchmark price of $205,200, the lowest price in the city.
Northeast Calgary followed, seeing an 11.82 per cent drop in prices to $246,300. The most expensive area for apartments was the southeast, with a benchmark price of $305,100, an 8.24 per cent decline from last year.
Meanwhile, other property types have seen more modest price adjustments, with detached home prices down less than one per cent year-over-year and semi-detached prices actually increasing by nearly one per cent.
Row homes also saw a decline, with benchmark prices falling more than five per cent compared with October 2025.
If you’re wondering about detached home prices, we dove into which quadrants of Calgary are seeing the biggest declines, as well as which towns and cities near Calgary have seen detached home benchmark price drops.