Nearly Every Calgary Neighbourhood Now Selling Below Asking

Underbidding expanded in Calgary in the second quarter of 2026, with 97% of neighbourhoods in underbidding territory and condos showing the softest conditions.

By Kristin Doucet | 3 minute read

Of the 183 Calgary neighbourhoods with at least five transactions in Q2, 178 (or 97%) were in underbidding territory. Just three neighbourhoods, representing 2%, saw homes sell for more than asking, while two, or 1%, sold at the list price.

That marks a shift from the same quarter last year, when 94% of qualifying neighbourhoods were underbid, 2% were overbid and 5% sold at asking.

The median difference between list and sold prices also widened to -$9,950, compared with -$7,725 in Q2 2025. While the growing prevalence of underbidding suggests buyers have gained leverage, the typical gap remained relatively modest.

Parkhill recorded the largest median overbid amount in Q2, with homes selling for $5,750 above asking and for a median price of $1,304,250.

North Haven Upper followed with a median overbid amount of $5,000, while Collingwood homes sold for $2,600 above asking. Kelvin Grove and Upper Mount Royal rounded out the five strongest-performing neighbourhoods, although both were technically in at-asking territory.

The small overbid amounts show that even in Calgary’s most competitive neighbourhoods, buyers generally did not have to offer significantly more than the list price.

Some of Calgary’s largest differences between list and sold prices appeared in higher-priced neighbourhoods.
Elboya led the city for underbidding, with homes selling for a median of $56,500 below asking and for a median sold price of $2,225,000. In Rosemont, the median difference was -$40,750, followed by Pump Hill at -$37,499.

Coral Springs and Willow Park completed the five most underbid neighbourhoods, with median differences of -$26,900 and -$24,900, respectively.

Three of the five neighbourhoods had median sold prices above $1 million, suggesting buyers may have more negotiating room in higher-priced areas, where the pool of potential purchasers is generally smaller and pricing can vary more widely.

Every Qualifying Condo Neighbourhood Was Underbid

Calgary’s condo market experienced the softest bidding conditions.

All 76 neighbourhoods with at least five condo transactions were in underbidding territory in Q2. The median difference between list and sold prices was -$9,100, increasing from -$7,000 during the same quarter last year.

Eau Claire recorded the largest condo underbid amount, with units selling for a median of $23,400 below asking and for a median price of $512,500. Belmont followed at a median of $19,000 below asking.

Carrington and Chinatown each posted median underbid amounts of –$13,200, while condos in Saddle Ridge sold for a median of $12,900 below asking.

The results do not mean every condo sold below its list price. Rather, they show that the median difference between individual list and sold prices was negative in every qualifying condo 

Ryan McLaughlin, Wahi Economist: “Underbidding became more common across Calgary in the second quarter, particularly in the condo market, where every qualifying neighbourhood was underbid, says Wahi economist Ryan McLaughlin. “The price differences are still fairly modest in most areas, but the year-over-year shift shows that buyers are becoming more selective and sellers need to be realistic about pricing.”

Buyers Gain Leverage as Calgary’s Market Rebalances

The widespread presence of underbidding suggests Calgary’s housing market continued to move toward more buyer-friendly conditions in Q2.

For buyers, this means more opportunities to negotiate, particularly in the condo segment and in higher-priced neighbourhoods. However, the relatively modest citywide gap between list and sold prices shows that well-priced homes can still sell close to sellers’ expectations.

For sellers, setting a price that reflects current neighbourhood conditions will be increasingly important as buyers take more time, compare available options and become less willing to compete for listings that appear overpriced.

How Wahi Ranks Calgary’s Overbidding and Underbidding Neighbourhoods