Home sales in Calgary, Alberta declined 17.6% in September from a year earlier, according to data from the Calgary Real Estate Board.
September home sales in the western Canadian city totaled 2,003 units, down sharply from record levels a year ago.
Despite the tumble, home sales in Calgary during September were about 16% higher than long-term trends for the month.
The real estate board said the benchmark price across all home types in Calgary was $596,900, slightly lower than in August but 5.5% higher than September 2023.
There was a total of 3,687 new homes listed for sale in Calgary last month, the highest September total since 2008 and 15.5% more than a year earlier.
At the same time, the inventory of homes for sale in the city rose 50% to 5,064 units.
Analysts say interest rates charged on home mortgages remain historically high across Canada and that is continuing to keep many potential buyers on the sidelines.