Varsity, Calgary - July 2026 Real Estate Report

Varsity, Calgary: Your Home Is Worth More Than the City Thinks

If you own a home in Varsity and you have not checked your HonestDoor Price lately, now is the time. The city's assessment says one thing. The real world says another. And right now, the gap is worth knowing about.

The Vibe: What Is Actually Happening in Varsity Right Now

Varsity is a neighbourhood where the numbers tell two different stories depending on whether you own a house or a condo. Let us break both down.

Houses: Still Strong, But Taking a Breather

If you have been watching the "For Sale" signs on the crescents and cul-de-sacs, here is what is actually happening. Houses are selling, but the pace has shifted.

• Average sale price: $978,172 - down 6.5% from last month
• HonestDoor predicted value: $1,004,815
• 3-month moving average: $987,164 (and the predicted value is climbing past it)
• Price per square foot: $596
• 17 homes sold this month - up 6.2% in volume from last month
• Average days on market: 16 days
• Homes sold at 99.81% of list price - buyers are getting just a hair under asking
• Estimated rent: $4,177 per month with a 4.75% rental yield

The sale price dipped, but more homes actually changed hands. That is not a collapsing market - that is a market finding its footing. The 16-day average on market puts us in the top tier for speed across Calgary, ranking 17th out of 76 neighbourhoods tracked. On the neighbourhood growth leaderboard, Varsity houses sit 64th out of 233 - solidly above average.

Condos: A Slower Lane, But Not a Dead End

The condo side of Varsity is a different story. We are seeing softer numbers, and it is worth being honest about that.

• Average sale price: $334,862 - down 3.7% from last month
• HonestDoor predicted value: $344,389
• 3-month moving average: $340,876 (predicted value is nudging above it)
• Price per square foot: $330
• 8 condos sold this month
• Average days on market: 46 days
• Condos sold at 96.64% of list price - buyers have room to negotiate
• Estimated rent: $1,775 per month with a 4.10% rental yield

Forty-six days to sell is slower than nearby Brentwood at 45 days and noticeably slower than Dalhousie at 32 days. Buyers in the condo market have options and they know it. That said, Varsity condos are still fetching more than Brentwood ($280,800 average sold) and Dalhousie ($294,500 average sold), so the premium address still carries weight. On the growth leaderboard, Varsity condos rank 75th out of 216 - above average, but not leading the pack.

The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Tax Assessment

Here is the thing about your city assessment. It is a snapshot taken months ago using a formula that does not account for what buyers are actually doing right now on your street. It is not wrong - it is just old.

For houses in Varsity, the city's average assessed value sits at $986,227. The HonestDoor Price is $1,012,399 - that is a $26,172 difference, and it is 2.65% higher than the city average. That gap is real money if you are thinking about selling, refinancing, or just understanding what you actually own.

For condos, the story flips. The city assessed the average Varsity condo at $374,541. The HonestDoor Price is $344,115 - about 8.12% lower. If your condo is assessed high and you are paying property tax on that number, that is worth a conversation.

The HonestDoor Price updates in real time using actual transaction data. It is the real-world check against a static government number. Check yours at HonestDoor.com.

The "So What?": Thinking About Selling This Summer?

For house sellers, the window is still open - but it is not as wide as it was. Homes are moving in 16 days on average, which means a well-priced listing gets attention fast. The predicted value of $1,004,815 is climbing past the 3-month average, which is a good sign heading into summer. Price it right and you will not be sitting on the market long. Price it with wishful thinking and you will be chasing the market down.

For condo sellers, patience is the word. With 46 days on market and buyers paying about 3.4% under list price, you need to come in priced sharp from day one. The HonestDoor Price of $344,389 is your anchor - not the assessed value of $374,541. Listing above what the market will bear right now just means a price cut later, which sends the wrong signal to buyers.

Bottom line for Varsity: houses are holding their value better than the month-over-month dip suggests, and condos need a realistic price to move. Either way, your HonestDoor Price is the number to start with - not the one on your tax notice.

• Varsity house growth rank: 64 out of 233 neighbourhoods in Calgary - above average
• Varsity condo growth rank: 75 out of 216 neighbourhoods in Calgary - above average
• Total house transactions in 2026: 133 - ranked 20th in Calgary for volume
• Total condo transactions in 2026: 48 - ranked 5th in Calgary for volume
• Varsity average house assessed value ranks 38th in Calgary

Varsity is not the cheapest neighbourhood in Calgary and it is not trying to be. It is a consistent, high-demand address with real transaction volume and above-average price points. If you own here, you are in a good spot. Just make sure you know what that spot is actually worth today - not what the city decided last year.

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.