By Zoocasa on June 3, 2022
Estimated reading time: 7 minutes

Where to Buy Real Estate in Canada 2022: Calgary

By Zoocasa on June 3, 2022
Estimated reading time: 7 minutes

Last year was the biggest for real estate growth in Calgary since the 2015 recession, with prices reaching record heights. Here are the hottest neighbourhoods to consider if you’re buying a home.

Calgary is the largest city in Alberta, with a population of around 1.4 million people. The city is divided into quadrants (North-East, North-West, South-West and South-East), each providing their own unique amenities and access to the downtown core. The city is the heart of Calgary Metropolitan Region, which also includes Airdrie, Chestermere and several other surrounding towns.

If you’re looking to buy a home in Calgary, you might be wondering which neighbourhoods are the best to purchase in today. To answer that question, MoneySense partnered with Zoocasa—a full-service tech brokerage—as part of the 2022 edition of Where to Buy Real Estate in Canada. The goal was to identify the Calgary neighbourhoods that offer the greatest value and future growth potential. So Zoocasa examined local real estate data and long-term housing trends to create a ranking of the top places to buy.

Not limiting your search to Calgary? Our guide also includes a national ranking of cities and regions, as well as information on the top neighbourhoods in 12 other markets across Canada (view those articles by tapping or clicking on the menu above). The rankings are based on data collected at the end of March 2022, and interviews were conducted in March and April. Read more about our methodology.

Where to buy real estate in Calgary
Why we’re watching Calgary
Calgary’s future real estate outlook
Calgary’s top three neighbourhoods

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Where to buy real estate in Calgary

To view all the data in the table, slide the columns right or left using your fingers or mouse. You can filter or rearrange the rankings by using the search tool or clicking on column headings. You can also download the data to your device in Excel, CSV and PDF formats.

How to read the table:

Benchmark price 2021: The composite benchmark price as of Dec. 31, 2021. It represents all property types, including attached and detached homes, townhouses/row units and apartment units. Read about how benchmark prices are calculated.
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 five, with five representing the most value for your money, high levels of income and education, and ease of travel by foot, bike and public transit. To see how we determine these scores, read our methodology.

Children: The neighbourhood’s percentage of households with kids.

wdt_ID	Rank	Neighbourhood	City	Benchmark price 2021	1-year	3-year	5-year	Value	Economics	Accessibility	Children
1	1	Patterson Heights	Calgary	$603,120	10%	23%	13%	3.9	5.0	2.2	53%
2	2	Signature Parke	Calgary	$575,915	17%	8%	10%	3.8	5.0	2.2	53%
3	3	Coach Hill	Calgary	$564,292	8%	10%	13%	3.6	5.0	2.2	53%
4	4	Christie Park	Calgary	$739,421	17%	8%	12%	3.4	5.0	2.2	53%
5	5	Cougar Ridge	Calgary	$591,637	9%	3%	6%	3.3	5.0	2.2	53%
6	6	Arbour Lake	Calgary	$532,942	27%	18%	27%	4.4	3.7	1.2	50%
7	7	The Slopes	Calgary	$917,759	10%	24%	8%	3.1	5.0	2.2	53%
8	8	Tuscany	Calgary	$560,734	5%	2%	2%	3.2	4.9	1.8	57%
9	9	Discovery Ridge	Calgary	$705,591	13%	-3%	10%	3.1	5.0	2.2	53%
10	10	Scenic Acres	Calgary	$557,081	5%	-2%	1%	3.1	4.9	1.8	57%
11	11	Signal Hill	Calgary	$684,912	4%	6%	3%	3.0	5.0	2.2	53%
12	12	Varsity Village	Calgary	$475,345	21%	20%	23%	4.5	3.5	1.9	48%
13	13	Seton	Calgary	$435,397	17%	4%	-8%	3.9	4.0	2.4	54%
14	14	Kincora	Calgary	$456,831	7%	6%	-3%	3.6	4.3	0.0	54%
15	15	Symons Valley	Calgary	$496,821	11%	4%	-2%	3.6	4.3	0.0	54%
16	16	Strathcona Park	Calgary	$569,565	-8%	1%	-7%	2.8	5.0	2.2	53%
17	17	Midnapore	Calgary	$466,152	9%	11%	18%	3.9	3.9	2.5	54%
18	18	West Springs	Calgary	$766,642	2%	3%	-7%	2.7	5.0	2.2	53%
19	19	Evanston	Calgary	$497,050	11%	-1%	1%	3.5	4.2	1.1	57%
20	20	Dalhousie	Calgary	$462,810	16%	11%	5%	4.0	3.5	1.9	48%
21	21	Citadel	Calgary	$457,964	11%	8%	8%	3.8	3.7	1.2	50%
22	22	Bankview	Calgary	$575,359	37%	25%	40%	4.9	2.7	2.9	25%
23	23	Shawnessy	Calgary	$391,340	17%	8%	9%	4.2	3.3	2.0	52%
24	24	Auburn Bay	Calgary	$539,429	8%	4%	3%	3.4	4.0	2.4	54%
25	25	Cranston	Calgary	$520,862	7%	3%	6%	3.4	4.0	2.4	54%
26	26	Mission	Calgary	$626,746	42%	25%	38%	4.9	2.5	3.9	19%
27	27	Chapparal	Calgary	$512,556	8%	4%	8%	3.5	3.9	2.5	54%
28	28	Mckenzie Towne	Calgary	$397,980	9%	5%	-0%	3.8	3.6	1.6	49%
29	29	Ranchlands	Calgary	$378,323	1%	5%	-2%	3.6	3.7	1.2	50%
30	30	Copperfield	Calgary	$478,985	12%	5%	7%	3.7	3.6	1.6	49%
31	31	Springbank Hill	Calgary	$1,035,382	10%	-0%	11%	2.3	5.0	2.2	53%
32	32	Sundance	Calgary	$561,033	11%	5%	-6%	3.5	3.9	2.5	54%
33	33	Royal Oak	Calgary	$501,766	7%	6%	4%	3.6	3.7	1.2	50%
34	34	Millrise	Calgary	$398,270	16%	4%	1%	4.0	3.3	2.0	52%
35	35	Southwest	Calgary	$698,713	10%	-26%	-20%	2.3	5.0	2.2	53%
36	36	Hawkwood	Calgary	$525,172	9%	7%	-1%	3.5	3.7	1.2	50%
37	37	Douglas Ridge	Calgary	$456,449	9%	6%	4%	3.7	3.6	1.6	49%
38	38	Aspen Woods	Calgary	$890,466	-2%	2%	-12%	2.2	5.0	2.2	53%
39	39	Hillhurst	Calgary	$828,648	54%	30%	15%	4.8	2.4	2.6	27%
40	40	New Brighton	Calgary	$420,992	7%	1%	2%	3.6	3.6	1.6	49%
41	41	Edgemont	Calgary	$632,056	14%	11%	12%	3.6	3.5	1.9	48%
42	42	Somerset	Calgary	$476,316	11%	7%	6%	3.7	3.3	2.0	52%
43	43	Bridlewood	Calgary	$389,028	10%	-1%	4%	3.7	3.3	2.0	52%
44	44	Queensland	Calgary	$407,148	14%	10%	7%	4.1	3.0	2.4	41%
45	45	Rocky Ridge	Calgary	$530,172	9%	-6%	1%	3.2	3.7	1.2	50%
46	46	Evergreen	Calgary	$417,724	7%	2%	3%	3.6	3.3	2.0	52%
47	47	Northeast	Calgary	$418,456	12%	8%	3%	3.9	3.0	1.0	53%
48	48	Varsity Acres	Calgary	$498,784	6%	-0%	11%	3.4	3.5	1.9	48%
49	49	Deer Ridge	Calgary	$386,901	7%	12%	6%	4.0	3.0	2.4	41%
50	50	Hidden Valley	Calgary	$498,768	4%	3%	2%	3.4	3.5	1.9	48%

Why we’re watching Calgary

Calgary is a Canadian real estate hot spot because of its unique urban centre and scenic natural surroundings. With the city situated in the eastern foothills of the Rocky Mountains, Calgarians are a short drive away from hiking trails, lakes, rivers and world renowned resorts. For those that prefer the city life, the light-rail transit system makes it easy to access great dining experiences and shops.

Calgary is known as the Canadian centre of the oil industry, which accounts for nearly 30% of the local economy. It has the largest concentration of head offices in the country and the second-largest concentration of small businesses—signs of an economy with diversity and growth. It acts as a major hub for transportation for the Prairies, eastern British Columbia and some parts of the northern United States.

Prior to the pandemic, Calgary’s real estate was in a period of decline, still recovering from its 2015 recession, with a further mild decline in 2019. Real estate prices were considerably lower than the national average. As the pandemic hit, concerns about Calgary’s economy were raised due to the steep decline in oil prices. Despite this, real estate generally saw less than a 1% decrease in price during the second quarter of 2020. By the end of the year, overall prices only decreased by 0.68%, after having dipped by 3.4% and 1.68% in 2019 and 2018, respectively.

Last year was a year of growth for the Calgary real estate market. The benchmark house price rose just under $40,000 to $451,200 in December 2021, and it has continued to grow in the first months of 2022. In February, the benchmark home price reached $484,000.

“2021 stands out as a year of big price gains for Calgary. The historically low interest rates played a part, but the more recent increases in oil prices have helped to bolster price growth,” says Lauren Haw, CEO and broker of record at Zoocasa. “Calgary was facing a decline before the pandemic, but it’s seen growth just like the rest of the country. The scarcity in new listings has also created a competitive market for home buyers as well as the influx of interprovincial newcomers to the area from provinces like Ontario.”

Calgary’s future real estate outlook

Last year was the biggest for real estate growth in Calgary since the 2015 recession, with prices reaching record heights by the end of the year. Sales have improved by over 70% year-over-year, with 4,238 transactions completed in February of this year. The number of new listings have increased by 57.6% year-over-year as of February 2022, but prices will likely still rise through the spring. Inventory is beginning to grow along with interest rates, but the market continues to favour sellers.

“We’ve seen an increase in inventory recently, which is beneficial to buyers in the market,” notes Haw. “Prices are still rising but at more marginal rates than last year. With oil prices continuing to soar, however, this will likely keep the winds in the sails for Alberta real estate.”

Calgary’s top three neighbourhoods

1—Patterson Heights

Patterson Heights is located in Patterson on the western edge of Calgary. Known for its beautiful views of Bow River Valley, its grasslands and its forests, Patterson Heights was initially developed in the 1980s. However, there are still homes being built today, so those interested in customizing their homes may be able to. As of December 2021, the average home price in Patterson Heights was $603,120, following a few years of steady price growth: prices were 10% higher in December than they were one year earlier, 23% higher than three years earlier and 13% higher than five years earlier. That gives it a value score of 3.9 out of 5 and a neighbourhood economics score of 5 out of 5.

Many choose Patterson Heights because of its stunning mountain views to the west and its beautiful city views to the east. The area is also bordered by Edworthy Park, where locals go to get fresh air and connect with nature. There are nine schools in the area, making it a convenient choice for the 53% of households who have children. The area, however, only has a 2.2 out of 5 accessibility score, likely because of its winding streets and hills.

View Zoocasa’s real estate listings in Patterson Heights.

2—Signature Parke

Signature Parke is located in the southwest quadrant of Calgary and features a mix of single-family homes, condos and townhomes. The neighbourhood contains the popular Signal Ridge and Sienna Hills developments. Perched on a hill that overlooks Signal Hill, homes in this area sold for an average of $575,915 in December 2021. At that time, prices were 17.5% higher than one year earlier, 8.5% higher than three years earlier and 10% higher than five years earlier. That gives it a value score of 3.8 out of 5. And it has a perfect neighbourhood economics score of 5 out of 5.

Signature Parke boasts beautiful local trails and parks, including Stoney Trail and Battalion Park. Battalion Park is known for its World War I memorial with 16,000 stones that form the number of the four Canadian battalions that trained in the area before heading overseas. The community also has shopping centres and a public library. There are even a number of great schools in the area, supporting the 53% of households that have children. Interested in walking around the neighbourhood? Like the other neighbourhoods on our list, Signature Parke is not the most pedestrian friendly, with an accessibility score of 2.2. out of 5.

View Zoocasa’s real estate listings in Signature Parke.

3—Coach Hill

Coach Hill is centrally located in southwest Calgary and close to Bow Trail, making it an easy commute into the city. The area has seen modest price growth with an average selling price of $564,292 in December 2021. As of the end of 2021, prices were 7.8% higher than one year earlier, 9.7% higher than one year earlier, and 13% higher than five years earlier—giving Coach Hill a value score of 3.6 out of 5. On neighbourhood economics, it scores 5 out of 5.

Featuring a diverse selection of townhomes, detached homes and condos, everyone can find what they want here. Like nice views? The neighbourhood is famous for its stunning views of downtown Calgary, and it has long-established streets with mature trees. The Bow Trail expressway is not far away, meaning professionals can live here and still easily commute to Calgary, when needed. The neighbourhood is also close to the 69^th Street train station. Around 53% of households have kids in Coach Hill, but with an accessibility score of 2.2 out of 5, it’s not easy to get around on foot.

View Zoocasa’s real estate listings in Coach Hill.

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About Zoocasa

Zoocasa is an award-winning consumer real estate search portal. It uses data and technology to deliver an intelligent, end-to-end real estate experience.

Comments Cancel reply

Bill Chestnut says:

March 8, 2023 at 11:48 pm

Why is Hidden Valley listed as the worst place to buy real estate in Calgary?

No reasoning. No facts. Just an indictment.

Somebody got an axe to grind?

Hidden Valley home owner

Reply