Varsity, Calgary - September 2026 Real Estate Report

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

If you have been watching the "For Sale" signs in Varsity and wondering what is actually going on with prices, here is the straight answer. The city's assessment says one thing. The real world says another. And right now, the gap between those two numbers is worth paying attention to.

The Vibe: Houses vs. Condos in Varsity

Our neighbourhood is not a one-size-fits-all story this year. Houses and condos are telling two very different tales, so let us break them down separately.

Houses - Still Holding Strong

If you own a house in Varsity, the market is treating you reasonably well. Twelve homes sold this month, and they moved in an average of 32 days. That is noticeably faster than nearby Dalhousie, where houses are sitting for 48 days. Buyers are still showing up for us.

• Average sale price: $973,742
• Current average listing price: $922,529
• Price per square foot: $571
• Homes are selling at 98.95% of list price - buyers are getting a slight edge
• Predicted market value: $1,010,821
• Estimated monthly rent: $4,187 with a rental yield of 4.74%
• Days on market rank: 31 out of 82 Calgary neighbourhoods - that is fast
• Growth rate rank: 99 out of 238 Calgary neighbourhoods - sitting above average on the leaderboard

The honest read here? It is a buyers' market by the numbers - homes are selling just under list price - but the pace of sales tells us demand is not disappearing. Sellers who price smart are still getting deals done quickly.

Condos - Taking a Breather

The condo side of Varsity is a different conversation. Values have dipped 2.75% from the previous period, and the predicted market value of $340,221 is actually trending down against the 3-month moving average of $342,761. Only 6 condos sold this month, sitting on the market for 48 days - on par with Dalhousie, but not exactly flying off the shelves.

• Average sale price: $249,783 - up 1.3% from last month, which is a small bright spot
• Current average listing price: $254,360
• Price per square foot: $283
• Condos are selling at 97.76% of list price
• Predicted market value: $340,221
• Estimated monthly rent: $1,752 with a rental yield of 4.11%
• Growth rate rank: 135 out of 216 Calgary neighbourhoods - below average on the leaderboard
• Price rank: 132 out of 175 - below average for Calgary condos

Nearby University District condos are averaging $582,662 and Dalhousie is at $538,260. Varsity condos at $330,858 are priced well below both. That gap could attract budget-conscious buyers, but it also signals that condo owners here need to be realistic about where the market is sitting right now.

The Secret Sauce: Your HonestDoor Price vs. Your Tax Assessment

Here is the thing about your city assessment. It is a snapshot from the past. The city assessed Varsity houses at an average of $986,000. The HonestDoor Price - which updates in real time using actual market signals - puts that number at $1,010,409. That is a $24,409 difference that your assessment is simply not capturing.

For condos, the story flips. The city assessed Varsity condos at $374,249, but the HonestDoor Price is $330,858 - meaning the city may actually be overvaluing your condo by roughly $43,000. If you are a condo owner, that gap could be relevant when it comes to your property tax bill.

The HonestDoor Price is the real-world check. It is not a government number calculated months ago. It moves with the market. Checking it now - before you make any decisions about selling, refinancing, or even just understanding your net worth - gives you a much clearer picture than waiting for next year's assessment to land in your mailbox.

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

If you own a house in Varsity and are thinking about listing this summer, the window is open but it is not wide open. Here is what the numbers are telling us.

• Houses are moving in 32 days - faster than most nearby neighbourhoods
• 162 house and condo transactions happened in Varsity in 2026 - this is an active market
• The HonestDoor Price of $1,010,409 for houses is above the city assessment, meaning you likely have more equity than your tax notice suggests
• Neighbourhood growth is down 0.02% year over year - the market is not accelerating, so waiting for a big price surge may not pay off
• Varsity ranks 22nd in Calgary for total transactions - we are a busy neighbourhood, which means buyers know where we are

For condo owners, the calculus is tougher. Values are sliding, and the growth rank of 135 out of 216 puts us in the bottom half of Calgary neighbourhoods right now. If you have been on the fence about selling, waiting for conditions to improve is a gamble. Pricing competitively and moving sooner rather than later is probably the smarter play.

Bottom line - Varsity is not a neighbourhood in trouble. Houses are holding up well and selling faster than the competition. But the market is not handing sellers easy wins either. Know your real number, price it right, and move with the market - not against it.

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.