By Zoocasa on April 21, 2023
Estimated reading time: 6 minutes

Where to Buy Real Estate in Canada 2023: Calgary

By Zoocasa on April 21, 2023
Estimated reading time: 6 minutes

As one of Canada’s most affordable major cities for real estate, Calgary proved to be more resilient to market changes than other parts of the country.

Downtown Calgary, Alta. Photo by Dilusha Gonagala from Pexels

Calgary is the largest city in Alberta, with a population of approximately 1.4 million. Our top picks in the area provide a different living experience and its set of amenities, as well as varying degrees of access to the downtown core.

What’s included on this page

Best places to buy real estate in Calgary
How to read the table
What’s happened in the Calgary real estate market?
What’s next for real estate in Calgary?
Calgary’s top three neighbourhoods

Methodology

Best places to buy real estate in Calgary

In the table below, you’ll find the top Calgary neighbourhoods for real estate purchases. To view all the data, slide the columns right or left using your fingers or mouse. You can download the data to your device in Excel, CSV and PDF formats.

wdt_ID	Rank	Neighbourhood	City	Benchmark price 2022	1-year growth	3-year	5-year	Value	Economics	Accessibility	Children
1	1	Patterson	Calgary	$513,352	9.1%	-10.1%	3.4%	3.6	5.0	2.3	53%
2	2	Coach Hill	Calgary	$483,743	4.6%	-3.6%	-9.5%	3.6	5.0	2.3	53%
3	3	Scenic Acres	Calgary	$651,797	20.9%	13.0%	13.5%	3.7	4.9	1.8	57%
4	4	Tuscany	Calgary	$595,845	9.7%	15.0%	11.3%	3.5	4.9	1.8	57%
5	5	Cougar Ridge	Calgary	$687,814	13.1%	20.4%	19.8%	3.4	5.0	2.3	53%
6	6	Signal Hill	Calgary	$574,964	5.6%	-10.5%	6.8%	3.3	5.0	2.3	53%
7	7	Kincora	Calgary	$534,691	19.0%	26.7%	10.7%	4.0	4.3	0.0	54%
8	8	Strathcona Park	Calgary	$687,749	9.8%	28.5%	19.0%	3.3	5.0	2.3	53%
9	9	Seton	Calgary	$397,515	15.6%	1.0%	-12.9%	4.2	4.0	2.4	54%
10	10	Discovery Ridge	Calgary	$658,862	6.2%	1.9%	-4.5%	3.1	5.0	2.3	53%
11	11	West Springs	Calgary	$763,644	11.7%	4.1%	-3.8%	2.9	5.0	2.3	53%
12	12	Evanston	Calgary	$540,314	11.2%	16.1%	7.8%	3.7	4.2	1.2	57%
13	13	Cranston	Calgary	$560,129	13.4%	12.5%	9.6%	3.7	4.0	2.4	54%
14	14	Ranchlands	Calgary	$406,566	6.7%	9.9%	-3.6%	4.0	3.7	1.3	50%
15	15	New Brighton	Calgary	$474,991	15.2%	18.9%	15.5%	4.1	3.6	1.6	49%
16	16	Bridlewood	Calgary	$426,283	17.0%	18.7%	19.1%	4.3	3.3	2.0	52%
17	17	Millrise	Calgary	$394,314	15.8%	9.0%	1.6%	4.3	3.3	2.0	52%
18	18	Auburn Bay	Calgary	$529,275	7.9%	2.3%	2.4%	3.6	4.0	2.4	54%
19	19	Arbour Lake	Calgary	$509,057	11.1%	24.8%	13.7%	3.9	3.7	1.3	50%
20	20	Citadel	Calgary	$491,353	9.5%	20.6%	13.7%	3.9	3.7	1.3	50%
21	21	McKenzie Towne	Calgary	$407,675	6.0%	13.8%	12.0%	4.0	3.6	1.6	49%
22	22	Chaparral	Calgary	$574,196	13.2%	21.3%	19.1%	3.7	3.9	2.6	54%
23	23	Midnapore	Calgary	$436,522	1.4%	3.2%	4.0%	3.7	3.9	2.6	54%
24	24	Greenwood/Greenbriar	Calgary	$205,025	27.9%	-33.6%	-27.9%	5.0	2.6	1.2	37%
25	25	Copperfield	Calgary	$412,069	9.6%	-4.3%	-8.7%	4.0	3.6	1.6	49%
26	26	Shawnessy	Calgary	$465,045	12.6%	30.7%	34.2%	4.2	3.3	2.0	52%
27	27	Royal Oak	Calgary	$548,735	13.2%	13.4%	11.5%	3.8	3.7	1.3	50%
28	28	Aspen Woods	Calgary	$902,064	11.3%	5.8%	-1.5%	2.5	5.0	2.3	53%
29	29	Hawkwood	Calgary	$569,936	13.2%	13.8%	13.3%	3.7	3.7	1.3	50%
30	30	Country Hills Village	Calgary	$283,089	13.7%	-5.7%	-16.1%	4.5	2.9	1.7	53%
31	31	Somerset	Calgary	$417,637	12.7%	-3.4%	-4.7%	4.1	3.3	2.0	52%
32	32	Hidden Valley	Calgary	$507,272	12.8%	4.3%	5.2%	3.8	3.5	2.0	48%
33	33	Christie Park	Calgary	$679,337	-15.7%	-2.0%	-2.0%	2.4	5.0	2.3	53%
34	34	Evergreen	Calgary	$524,305	14.2%	32.1%	27.3%	4.0	3.3	2.0	52%
35	35	Dalhousie	Calgary	$438,159	2.0%	14.0%	8.3%	3.8	3.5	2.0	48%
36	36	Sundance	Calgary	$604,066	7.7%	16.8%	8.8%	3.4	3.9	2.6	54%
37	37	Douglasdale/Glen	Calgary	$593,165	13.1%	18.9%	27.4%	3.7	3.6	1.6	49%
38	38	Rocky Ridge	Calgary	$529,795	6.8%	-13.9%	11.6%	3.5	3.7	1.3	50%
39	39	Beddington Heights	Calgary	$418,034	14.8%	25.1%	14.0%	4.3	2.9	1.7	53%
40	40	Springbank Hill	Calgary	$916,183	7.5%	-10.4%	-10.4%	2.2	5.0	2.3	53%
41	41	Cedarbrae	Calgary	$429,629	22.1%	23.9%	20.3%	4.5	2.7	3.1	42%
42	42	McKenzie Lake	Calgary	$596,152	14.1%	-2.2%	11.1%	3.6	3.6	1.6	49%
43	43	Coventry Hills	Calgary	$482,381	20.2%	12.9%	21.4%	4.2	2.9	1.7	53%
44	44	Country Hills	Calgary	$416,908	12.3%	12.8%	20.1%	4.2	2.9	1.7	53%
45	45	Deer Ridge	Calgary	$403,106	10.2%	10.1%	5.5%	4.1	3.0	2.5	41%
46	46	Sandstone Valley	Calgary	$495,075	19.7%	23.2%	13.6%	4.2	2.9	1.7	53%
47	47	Harvest Hills	Calgary	$472,772	17.8%	19.7%	13.8%	4.2	2.9	1.7	53%
48	48	Acadia	Calgary	$476,771	15.4%	20.0%	16.0%	4.1	3.0	2.5	41%
49	49	Deer Run	Calgary	$538,817	19.5%	29.2%	17.8%	4.1	3.0	2.5	41%
50	50	Varsity	Calgary	$517,544	1.5%	5.6%	14.9%	3.5	3.5	2.0	48%

Source: Zoocasa

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How to read the table:

Benchmark price 2022: The composite benchmark price as of Dec. 31, 2022. It represents all property types, including attached and detached homes, townhouses/row units and apartment units.
1-year, 3-year and 5-year growth: The percentage increase or decrease in the composite benchmark price (all property types) over each time frame.
Value, economics and accessibility: These neighbourhood characteristics are each scored on a scale of 0 to 5, with 5 representing the most value for your money, high levels of income and education, and ease of travel by foot, bike and public transit.
Children: The neighbourhood’s percentage of households with kids.
Read the detailed methodology behind our rankings.

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What’s happened in the Calgary real estate market?

Calgary real estate prices showed strong growth in the first half of 2022, before the impact of interest rate hikes took hold and caused market conditions to tighten. Calgary’s benchmark home price peaked at $532,200 in May and fell to $506,400 by the end of the year, a modest decline of around 3%. As one of Canada’s most affordable major cities for real estate, Calgary proved to be more resilient against the market changes experienced in other parts of Canada. It took longer for rising interest rates to curb home price inflation, and they did not dampen prices as much as in more expensive cities.

“The Calgary real estate market faced unexpected price increases in the first four months of 2022, followed by a cooldown period in the second half of the year,” explains Trung Bien, local eXp Realty agent. (Zoocasa, the author of this study, is wholly owned by eXp World Holdings.) “In 2022, many out-of-town buyers flocked to the area. This led to some aggressive offers and really set the tone for the first half of the year. Once the out-of-town buyers slowed down, the multiple offers dwindled, making conditions more favourable for motivated buyers in the latter half of the calendar year.”

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What’s next for real estate in Calgary?

Like many other major markets, the Calgary market got off to a slow start this year, suffering from a lack of supply. Some prospective sellers are still hesitant to put their homes on the market following eight interest rate increases.

“The population growth has been strong and the job growth reflects that. However, like other major cities in Canada, Calgary suffers from low supply,” Bien says.

In February 2023, housing inventory reached its lowest level for that month since 2006, according to the Calgary Real Estate Board (CREB). Due to the lack of supply, buyers have few options and sellers have an opportunity to raise their prices slightly, regardless of interest rates. “In the first couple of months of 2023, we’ve seen sellers pricing their homes more on the aspirational side—the upper bracket of pricing,” Bien says. “With a little bit of patience, some of them are getting the price they’re looking for because of the low inventory.”

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Top neighbourhoods in other regions

Calgary’s top three neighbourhoods

1. Patterson

Patterson, located in the southwestern part of Calgary, is bounded by Sarcee Trail to the east and north and Bow Trail to the south. During 2022, interest in Patterson real estate grew among Calgarians and other Canadian buyers, causing prices to rise 9% year-over-year. At the end of 2022, the average price reached $513,352—3% higher than five years earlier, resulting in a value score of 3.6. Patterson also has a perfect economics score of 5. Accessibility to and from the area is improving; however, many residents still rely on personal vehicles, earning Patterson an accessibility score of 2.3. More than half (53%) of the households here have kids.

View Patterson real estate listings on Zoocasa.

2. Coach Hill

Coach Hill is located right next to Patterson and is bounded by the same trails. At the end of 2022, the average home price was $483,743—up 5% year-over-year. However, the average price in December 2022 was down about 10% from where it was five years earlier. This has made the neighbourhood more affordable, resulting in a value score of 3.6. Around 43% of households in Coach Hill have children. The neighbourhood has a perfect economics score of 5 but a mediocre accessibility score of 2.3, meaning you’ll likely need a vehicle to reach amenities.

View Coach Hill real estate listings on Zoocasa.

3. Scenic Acres

Scenic Acres is in Calgary’s northwest quadrant, bounded by Crowchild Trail to the north, Nose Hill Drive to the east and south, and Stoney Trail to the west. The neighbourhood has seen strong price growth recently. The average home price was $651,797 at the end of 2022—21% higher than one year earlier and 13.5% higher than five years earlier, resulting in a strong value score of 3.7. Its economics score is nearly perfect at 4.9; however, there’s room for improvement when it comes to accessibility. Residents rely on personal vehicles rather than public transit, so Scenic Acres scores just 1.8. The neighbourhood is a great place to raise children, with 57% of the households in the area having kids.

View Scenic Acres real estate listings on Zoocasa.

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