Calgary is the second best market in Canada to buy real estate
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Sales may be declining in Calgary compared with previous years, but that doesn't mean it's not among the top markets in Canada to buy a home.
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In fact, among 24 major Canadian resale real estate markets, it ranks No. 2 in the recently published annual Where to Buy Real Estate report from MoneySense.
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'We look at the value of homes across Canada in different municipalities to see what the best value is for Canadians,' says Lisa Hannam, editor in chief at MoneySense.
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Notably, Calgary offers buyers a lot of value for their dollar despite significant price increases in the past few years, she adds.
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Those price increases are factored into the study's scoring with Calgary seeing 41 per cent price growth over the last five years. The top market in the study, Fredericton, N.B., saw 72 per cent price growth — though its benchmark price was about $311,000 at the end of 2024 versus about $577,000 for Calgary.
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Calgary's was $87,000 — the highest for all cities. The next highest income was Guelph, ranked 23rd, at $85,000. Yet the Ontario city's benchmark price was nearly $805,000 at the end of last year. Although its five-year price growth was 46 per cent, Guelph's one- and three-year price growth were minus two and one per cent, respectively. That trend is similar to many other Ontario cities in the study that have cooled dramatically in recent years.
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'We're seeing a shift nationally from a sellers market to balance,' Hannam says, noting Calgary and many Ontario markets now have a balance between supply and demand.
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In Calgary, however, not all markets are in balance, notes Robert Lamb, realtor with eXp Realty in the city.
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'If you're listing a good, detached home that's priced reasonably, you're going to attract a lot of attention.'
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That's likely to result in multiple offers because affordably priced, single-family detached homes — less than $700,000 — remain in a seller's market.
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'So we're seeing people dropping out of the detached market and looking at semi-detached or row homes instead,' he says, noting their frustration with finding an affordable detached home.
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