High-priced homes in and around Calgary are facing significant challenges in the current real estate market, with some properties experiencing dramatic price reductions and extended time on the market. According to HouseSigma's Calgary Price Watch, homes are selling for less than they did a year ago, and the trend is particularly pronounced for luxury listings.
Market Overview
While most sellers are having to accept lower offers or wait longer than expected, those at the higher end of the market are facing months or even years without a sale. Many properties have been terminated, relisted, and subjected to substantial price cuts before finally closing.
In March 2026, 78.4% of Calgary homes sold under their asking price, with the typical home closing at 1.88% below the list price, according to HouseSigma. Northeast Calgary saw the highest percentage of sales below list price at 90.6%.
Notable Examples of Price Reductions
One Chestermere home, originally listed at $2.2 million, spent 639 days on the market across eight listings between January 2024 and March 2026 before selling for $1.8 million. The biggest dollar discount of 2026 so far was a home in southwest Calgary. First listed in May 2025 at $5.89 million, the listing was terminated in December after 200 days. It was relisted in February 2026 at $5.35 million and sold 63 days later for $4.8 million — more than $1 million off the original asking price.
The longest total time on market for any sale in the Calgary area in 2026 belongs to a rural property in Foothills County. The home, which includes a ranch and a three-bedroom house, was first listed in June 2023 for $2,999,000. It went through two listing expirations before the third and final listing began in April 2025. The price was marginally reduced to $2,990,000, and it closed in January 2026 at $2.925 million, accumulating 905 active days on the market.
Expert Insights
“Sellers are feeling a bit more confident compared to the start of the year, we’re seeing more activity, more showings, and some momentum coming back into the market. But at the same time, pricing is still very sensitive. Buyers are informed and cautious, and they’re not chasing the market the way they were before,” said Raj Sandhu, a leading HouseSigma agent in Calgary.
“What we’re seeing right now is more of a recovery phase than a true surge. Properties that are priced well and show well are moving, but anything even slightly off is sitting longer or getting negotiated down.”
The full HouseSigma list of Calgary’s 10 Most Painful Home Sales of 2026 so far combines three rankings: biggest dollar discount off final list price, longest total time on market across all listing attempts, and highest number of repeated listings before the sale closed.
