Calgary Real Estate Market Outlook 2027: Prices, Rates, Supply and What to Do
Updated November 2, 2026 · Written by Justin Warthe, Team Lead, The Top Calgary Real Estate Team
Every January the forecasts arrive, and by March most of them are wrong in the details and right in the direction. This outlook is written the other way round: we start from what the Calgary market actually did through the fall of 2026, add what we know about rates, supply and migration, and tell you what we expect for 2027 and, more usefully, what to do about it whether you are buying, selling or holding. We will update this page when CREB® publishes its 2027 forecast in January.
Quick answer: Our outlook for Calgary real estate in 2027: a balanced market with flat-to-slightly-positive prices overall, continued softness in apartment condos and row homes until the new-construction supply is absorbed, steady detached demand in established communities, and interest rates as the swing factor after the Bank of Canada's October 28, 2026 increase to 2.5%. Translation: buyers keep their negotiating room, especially on condos; sellers of well-priced detached homes still do well; and timing the market matters less than choosing the right segment and price. Ask us for a free evaluation or a buyer consultation and we will apply this to your situation.
Key takeaways
- Where 2026 ended up: CREB®'s total residential benchmark was $566,700 in September 2026, down 0.8% year over year, with detached at $739,400 (down about 1%), row at $412,400 (down nearly 6%) and apartments at $291,400 (down more than 8%). Months of supply was 3.93, sales-to-new-listings 49%, days on market 44.
- Supply is the story. Record apartment and row construction over 2023 to 2025 is still completing, which keeps those segments in buyers' territory into 2027, while detached inventory remains comparatively tight at just over three months.
- Rates are the swing factor. The Bank of Canada raised its policy rate to 2.5% on October 28, 2026 citing inflation near 3% and signalled further increases are possible; its next decision is December 9, 2026. Higher rates cap how far prices can rise even if demand improves.
- Migration has slowed from the 2023 to 2024 peak but Calgary is still growing, Alberta still has no land transfer tax, and Calgary's detached benchmark remains far below Toronto's and Vancouver's, which keeps interprovincial demand alive.
What 2026 taught us
| Measure | September 2026 (CREB®) | What it signals for 2027 |
|---|---|---|
| Benchmark price, all residential | $566,700, down 0.8% YoY | Flat market; no momentum in either direction |
| Detached benchmark | $739,400, down about 1% | Stable; supply just over 3 months |
| Row benchmark | $412,400, down nearly 6% | Further softness likely until new supply clears |
| Apartment benchmark | $291,400, down more than 8% | The buyer's segment of 2027 |
| Months of supply | 3.93 (apartments over 5) | Balanced overall, buyer-leaning in condos |
| Sales | 1,650 in the month, down 4% YoY | Demand present but price-sensitive |
| Sale price to list price | 97.4% | Negotiation is normal; overpriced listings sit |
Source: CREB® September 2026 Calgary monthly statistics package and media release.
The pattern through 2026 was consistent: sales ran below 2025 levels, new listings fell faster than sales in the fall, prices drifted down by single digits in the attached segments and held in detached. That is what a market absorbing a construction boom looks like, not a market in trouble. Calgary's employment and population growth kept demand from falling further; the Bank of Canada's rate moves kept it from accelerating.
Our 2027 expectations by segment
- Detached homes: flat to modestly positive prices, with the best-located, well-priced homes under $750,000 still drawing competing offers. Inventory should stay in balanced territory because detached construction never matched the attached boom.
- Semi-detached and row: flat to slightly negative into mid-2027 as builders finish and sell remaining phases; resale sellers must price against builder incentives.
- Apartment condos: the most buyer-friendly segment, with the widest choice and the most negotiating room; prices likely to find a floor during 2027 as completions slow, with well-run buildings in good locations recovering first.
- Luxury and acreage: steady, driven by equity buyers less sensitive to rates; selection matters more than timing.
- Surrounding towns: Airdrie, Cochrane, Okotoks and Chestermere follow Calgary with a lag; Airdrie's larger 2026 price decline makes it a value play for commuters.
The risks that could change the picture
- Rates. Two more Bank of Canada increases would push prices lower, especially in the attached segments; a reversal to cuts in late 2027 would do the opposite. Plan with a margin for 1% either way.
- Energy prices and employment. Calgary's economy is more diversified than it was, but a sustained oil price drop still shows up in housing demand within a few quarters.
- Migration. Interprovincial migration to Alberta has slowed from its peak; a further slowdown reduces demand, while any renewed affordability-driven move from Ontario and BC supports it.
- Policy. Federal housing programs, immigration targets, the first-time buyer GST rebate on new homes, and City of Calgary zoning decisions all shift demand at the margin.
What to do with this
If you are buying: get pre-approved with a rate hold, stress-test the payment at 1% higher, and choose the segment deliberately. Condo buyers should negotiate hard and prioritize reserve funds and locations; detached buyers should move quickly on well-priced homes in established communities and use our off-market access. If you are selling: price to the last 60 days of sales, not to 2024, present the home properly, and launch to a buyer database before the public sees it. If you are holding: a flat year in a growing city is not a reason to sell; it is a reason to make sure the next move is planned around the segment you will be selling into and buying from.
This guide is general information, not legal, mortgage, tax or appraisal advice. Rules and fees change; confirm the current details with the City of Calgary, the Government of Alberta, the Canada Revenue Agency, your lawyer, lender or accountant as appropriate.
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Why clients trust us to read the market:
| Google reviews | 180 five-star reviews, and counting |
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| Pace | A home bought or sold for a client every 48 hours |
| Team | 10 licensed REALTORS® plus full-time operations, marketing and admin support |
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| Extras | Off-market listings, early listing alerts and a free home evaluation |
Apply the 2027 outlook to your home or your search
Book a free evaluation or a buyer consultation and we will show you exactly how these trends affect your street, your building and your budget.
Frequently asked questions
Will Calgary house prices go up or down in 2027?
Our expectation is flat to modestly positive for detached homes and flat to slightly negative for row homes and apartment condos until the new-construction supply is absorbed, with interest rates the main swing factor. CREB® will publish its own 2027 forecast in January and we will update this page.
Is 2027 a good year to buy in Calgary?
For buyers with a five-year horizon and a pre-approval that works at a rate 1% higher than today's, yes, especially in condos and townhomes where choice and negotiating room are greatest. Timing matters less than segment and price.
Is 2027 a good year to sell in Calgary?
Well-priced detached homes in established communities should continue to sell well. Sellers of condos and row homes face more competition and should price to recent sales and present carefully. A free evaluation shows where a specific home sits.
What is the biggest risk to Calgary's housing market in 2027?
Interest rates. The Bank of Canada raised its policy rate to 2.5% on October 28, 2026 and signalled further increases are possible. Energy prices, employment and migration are the other factors to watch.
Why are Calgary condo prices falling?
Record apartment and row construction from 2023 to 2025 added supply faster than demand absorbed it. In September 2026 apartments had more than five months of supply and the benchmark was down more than 8% year over year. Completions should slow through 2027.
About The Top Calgary Real Estate Team
The Top Calgary Real Estate Team is a Calgary real estate team brokered by Real Broker and led by Justin Warthe. The team has sold more than $1 billion of Calgary and area real estate, has 180 five-star Google reviews, and helps clients buy or sell a home about every 48 hours. Our office is at 1907 34 Avenue SW in Marda Loop, and we work across Calgary, Airdrie, Cochrane, Okotoks, Chestermere, Strathmore, High River and the surrounding acreage country. Read our client reviews or book a call.
This page is general information, not legal, mortgage, tax or appraisal advice. A market evaluation from a REALTOR® is an opinion of value, not an appraisal. Benchmark prices are from the Calgary Real Estate Board (CREB®) for September 2026 and change monthly.
Keep reading: Calgary realtor hub: how to choose · Is now a good time to buy in Calgary? · What is my Calgary home worth? · How long does it take to sell a house in Calgary? · Calgary vs Edmonton real estate · Calgary market stats
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