Pegasus, Calgary - September 2026 Real Estate Report

Pegasus, Calgary: The Market Is Cooling Off - Here Is What That Means for Your Home

If you have been watching the "For Sale" signs in Pegasus lately, here is the honest read: prices are sliding a bit, and the numbers back that up. This is not a crash - it is a breather. But if you own here, you need to know exactly where you stand right now, not six months from now.

The Vibe - Houses vs. Condos in Pegasus

Let us break down what is actually happening on both sides of the market.

Houses

The average HonestDoor Price for a house in Pegasus sits at $546,773. That is down 1.66% from the previous period, and the 3-month moving average of $561,561 confirms the slide is real - not just a one-month blip. The predicted value right now is $555,991, which is actually sitting slightly above that moving average. That gap is worth watching.

• Average HonestDoor Price: $546,773
• Recent price change: -1.66%
• 3-month moving average: $561,561
• Predicted market value: $555,991
• Average rental estimate: $2,732 per month
• Rental yield: 5.53% - that is a strong return for landlords
• Airbnb estimate: $136 to $137 per night
• Calgary neighbourhood growth rank: 207 out of 238

That growth rank is the number we need to talk about. On the Calgary neighbourhood leaderboard, Pegasus houses are sitting at 207 out of 238. That puts us near the bottom tier for price growth right now. It does not mean Pegasus is a bad place to live - it means sellers need to be sharp on pricing. Buyers, on the other hand, have a bit more room to negotiate than they did a year ago.

For context, nearby McCall is sitting at an average HonestDoor Price of $990,877 - nearly double Pegasus. Horizon comes in at $608,784. Pegasus is the more affordable entry point in this pocket of Calgary, and that has its own appeal for a certain buyer.

Condos

The condo picture is a little softer. The average HonestDoor Price is $354,750, down 5.99% from the previous period. That is a more noticeable dip. The predicted value is $377,350, sitting just barely above the 3-month moving average of $377,850 - essentially flat.

• Average HonestDoor Price: $354,750
• Recent price change: -5.99%
• 3-month moving average: $377,850
• Predicted market value: $377,350
• Average rental estimate: $1,855 per month
• Rental yield: 4.04% - moderate, but still positive cash flow territory
• Airbnb estimate: $92 per night
• Calgary neighbourhood growth rank: 137 out of 216

On the condo leaderboard, Pegasus ranks 137 out of 216 Calgary neighbourhoods - below average, but not at the bottom. The interesting thing here is that nearby condos in North Airways ($1,568,640), Horizon ($541,052), and McCall ($553,280) are all priced significantly higher. Pegasus condos are the budget option in this cluster, which keeps rental demand steady from tenants who want the area but not the premium price tag.

The Secret Sauce - Why Your HonestDoor Price Matters More Than Your Tax Assessment Right Now

Here is something most Pegasus homeowners do not think about until it is too late. Your city tax assessment is a snapshot from months ago - sometimes longer. It does not know about the last few months of price movement in your specific neighbourhood. It does not update in real time.

The HonestDoor Price is different. It pulls from current market activity and gives you a live read on what your home is actually worth today - not what a government office calculated last year. With houses in Pegasus down 1.66% and condos down 5.99% recently, there is a real gap opening up between what the city thinks your home is worth and what a buyer would actually pay right now.

That gap matters for two reasons. First, if you are selling, you need to price to the current market - not to a stale assessment. Second, if you think your assessment is too high relative to your HonestDoor Price, that is a conversation worth having with the city. Knowing your real-world number is the starting point for both.

The So What - Should You Sell in Pegasus This Summer?

If you are thinking about listing this summer, here is the straight talk.

The market is not your enemy, but it is not doing you any favours right now either. Prices are drifting down, and Pegasus sits in the lower tier of Calgary's growth rankings for both houses and condos. That means buyers have options and they know it.

That said, a house priced right around $546,000 to $556,000 in Pegasus is still a legitimate, affordable alternative to Horizon or McCall. If you position your home correctly - clean, well-presented, and priced to the HonestDoor number rather than wishful thinking - you can still find a motivated buyer. The rental yield of 5.53% on houses is genuinely strong, which means investor buyers are still paying attention to Pegasus. That is a real selling point.

For condo owners, be honest with yourself about the 5.99% price drop. Overpricing right now will just mean a longer sit on the market and a lower final sale price anyway. Get your HonestDoor Price, price just below the competition, and move quickly.

Bottom line - Pegasus is not the hottest neighbourhood on the Calgary leaderboard right now. But priced right, there is still a deal to be made this summer. Check your HonestDoor Price first. That is your real starting point.

This information is all based on our opinions based on the information available to us. Everyone's situation may be different and you should reach out to us for more personalized information.