Calgary’s real estate market is one of Canada’s most dynamic, offering a range of housing options that cater to diverse lifestyles and budgets. Unlike other major Canadian cities, such as Toronto and Vancouver, where high property prices often push buyers into small condos, Calgary offers a unique mix of urban high-rises, inner-city infill homes, master-planned suburban communities, and even sprawling estate properties.
This variety makes Calgary an appealing destination for buyers seeking affordability, space, and strong long-term value. The city’s economy, historically driven by the energy sector, is diversifying, attracting new residents and investors.
Jesse Davies, leader of the Jesse Davies Team with Century 21, notes that “With a growing population, competitive property prices, and a lower cost of living than other major metropolitan areas, Calgary presents a compelling alternative for those looking to own personal or investment properties without the high price tags that cities like Toronto and Vancouver carry.”
Downtown Living: Urban Condos and High-Rise Developments
Calgary’s downtown core is a hub of economic activity, cultural attractions, and vibrant nightlife. While other Canadian cities, such as Vancouver and Toronto, are known for their high-rise-dominated landscapes, Calgary’s downtown offers a balance between modern condo living and proximity to green spaces and riverside pathways.
Downtown Calgary features an abundance of condominiums, particularly in neighbourhoods like the Beltline, East Village, Eau Claire, and the West End. While high-rise condos dominate the skyline, low-rise and mid-rise developments provide alternative options for those looking for more space without committing to a detached home.
One of Calgary’s major advantages over cities like Toronto and Vancouver is condo affordability. The average price per square foot in downtown Calgary remains significantly lower than in those cities, allowing buyers to afford larger units in prime locations. While Toronto’s average condo price often exceeds $700,000, Calgary buyers can find similar properties for significantly less, often under $400,000 in key downtown areas.
Downtown condos primarily attract professionals, students, and investors, according to Jesse Davies. He notes, “The presence of corporate offices, government institutions, and post-secondary institutions like Bow Valley College, SAIT, and the University of Calgary’s downtown campus fuels demand. Investors see strong rental potential, particularly with young professionals and students who prefer an urban lifestyle.”
He also has noticed a couple of trends in the downtown markets. Young professionals and students often prioritize proximity to downtown’s vibrancy, workplaces, and educational institutions for the short term, with the expectation of eventually moving to more spacious suburban areas. Of these, some choose the convenience of renting during this time, while others take the opportunity to invest in downtown real estate.
These young investors expect that they will eventually relocate, but recognize the area’s popularity, so they plan to rent out their property when they move. Jesse Davies adds, “It is important to know what your long-term plans are, even if you are looking at a property as temporary, as there are ways to meet both your long and short-term goals, especially in Calgary’s robust market.”
Inner-City Community: Character with Modern Convenience
Calgary’s older inner-city neighbourhoods are being revitalized, blending historic charm with modern development. These refreshed areas offer a range of housing, including high-end infill homes, mid-range options, low-rise townhouses, and quality character homes, providing buyers with both urban convenience and residential appeal.
For example, one of Calgary’s most vibrant neighbourhoods, Kensington, offers a mix of condos, townhomes, and detached homes. Its walkability, boutique shopping, and lively restaurant scene make it popular with young professionals and downsizers.
A neighbourhood that used to be often overlooked, Bridgeland has seen significant redevelopment, with new condos and high-end infills replacing aging structures, allowing residents to enjoy its proximity to downtown and the Bow River pathway system.
Inglewood and Ramsay are historic neighbourhoods, with a mix of character homes and modern infills. Inglewood, in particular, has transformed into an arts and culture hub with independent shops and music venues.
Altadore and Marda Loop is a trendy district which blends modern housing with established charm. The area’s growing popularity has driven up property values, but its balance of inner-city access and community feel is sure to keep the property values high.
Suburban Appeal: Master-Planned Communities and Affordability
Calgary’s suburban real estate market remains a major draw for families, first-time buyers, and those seeking larger properties at a more affordable price. Unlike many other major cities, where geography, zoning, and high costs can limit suburban housing options, Calgary offers a variety of desirable residential communities with homes to suit any budget.
“For the price of a modest detached home in Mississauga or Burnaby, buyers in Calgary can find newer, larger homes with more yard space”, Davies notes.
A growing urban hub in the southeast, Seton offers a mix of condos, townhomes, and single-family homes alongside a major healthcare center and commercial developments. Northwest Calgary’s most popular family-oriented communities of Tuscany and Evanston offer scenic views, large parks, and excellent schools. Meanwhile, in the south, Legacy and Walden, a couple of newer developments, provide affordable housing with modern designs and easy access to nature.
As suburban communities expand, Calgary has invested heavily in infrastructure to support growth. Major transit projects, such as the Green Line LRT, will enhance connectivity between suburban areas and downtown. Compared to Toronto, where transit expansion struggles to keep pace with suburban growth, Calgary’s planning is relatively forward-thinking, ensuring new communities remain accessible.
Peaceful Outskirts: Acreages and Satellite Communities
Beyond the city limits, Calgary’s surrounding areas provide a wealth of lifestyle options for buyers seeking more space, natural beauty, or a distinct way of life. These communities range from charming small towns with a close-knit feel to sprawling acreages offering unparalleled privacy. For many, the appeal of these areas lies in their ability to combine peaceful surroundings with easy access to Calgary’s amenities.
Cochrane and Okotoks, two of the most popular satellite communities, attract families and professionals looking for a balance between affordability and quality of life. Cochrane, located to the northwest, offers stunning mountain views, a historic downtown, and abundant outdoor recreation opportunities. Okotoks, to the south, is known for its strong sense of community, excellent schools, and proximity to nature.
For those looking for more rural living without sacrificing convenience, acreages in communities such as Priddis, Dewinton, and Springbank offer expansive properties with custom-built homes, ideal for those seeking privacy and space. These areas are particularly popular among equestrian enthusiasts, nature lovers, and those looking for luxury estate properties outside the urban core.
Unique Lifestyle Communities
As Davies notes, “Calgary also offers unique lifestyle housing options that aren’t available in large cities.” Calgary is home to several master-planned communities that offer distinct lifestyle amenities, blending recreation with residential living. These developments cater to buyers looking for an enhanced quality of life with exclusive perks.
In the southeast, the Mahogany and Auburn Bay lake communities provide resort-style living, complete with private beaches, year-round recreational facilities, and community events. Mahogany, the larger of the two, offers a range of housing options, from townhomes to multi-million-dollar lakefront estates, while Auburn Bay maintains a family-friendly atmosphere with a strong community vibe.
Located just west of Calgary, Harmony is an award-winning lakeside community designed for those who appreciate both modern living and outdoor adventure. With a 140-acre lake, a future golf course, and easy access to the Rocky Mountains, it has become a highly desirable area for families and retirees.
Luxury Living: Calgary’s Luxury Market
For those seeking exclusivity, Calgary’s luxury market offers a diverse range of high-end homes, from sophisticated inner-city estates to sprawling acreages on the city’s outskirts. Unlike Vancouver, where luxury real estate is confined to a few exclusive areas, Calgary’s high-end market is spread across multiple locations, each offering unique advantages.
Inner-city luxury properties in areas like Mount Royal and Elbow Park feature historic homes with classic architecture and tree-lined streets, appealing to buyers who appreciate both prestige and proximity to downtown. These neighbourhoods have long been home to Calgary’s business elite and remain among the city’s most sought-after addresses.
Aspen Woods and Springbank Hill, located in the west, attract luxury buyers looking for modern, custom-built estates with panoramic mountain views. These communities offer a mix of private residences and easy access to top-rated schools, making them especially popular among executives and families.
Bearspaw and Springbank provide expansive estate homes on multi-acre properties, catering to those who desire privacy and space. These areas are home to some of Calgary’s most exclusive residences, including equestrian estates and custom-built mansions. With proximity to the city while maintaining a country feel, these communities remain a top choice for high-net-worth individuals.
Whittling Down the Options
Calgary’s real estate market stands out for its diverse housing options, affordability, and strong growth potential. From urban condos to suburban family homes and luxury estates, buyers have access to more choices at lower prices than in other major metropolitan areas. Working with a top Calgary realtor like Jesse Davies gives homebuyers and investors a competitive edge, offering expert insight into local communities, market trends, and future development opportunities to help them find the perfect property.
