Calgary Prices Ease as Sales Cool

Calgary's Early-Q3 market saw 1.9K sales, ↓~9% yearly, while the residential benchmark eased ~2% to $569.2K, signaling softer pricing conditions for buyers.
An economist said persistent condo oversupply, several yr of high construction, and a sudden drop in international migration shifted conditions, especially for higher-density homes.
Higher-density segments led the adjustment: apartment-style homes fell ~8% yearly to $297.6K, while row-style properties dropped ~6% to $418.5K during Calgary's Early-Q3.
Lower-density homes were steadier: detached prices slipped ~2% to $743.9K, and semi-detached values were down <1% yearly at $691K in Calgary's market.
Supply also adjusted in Early-Q3: new listings fell ~15% yearly to 3.3K, while total inventory dipped ~4% to 6.6K homes for sale.