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Calgary Real Estate Market Price per Square Foot Saw Strong Growth in 2024
Calgary’s real estate market gained momentum in 2024, with property values rising across multiple housing types. CENTURY 21 Canada’s 2024 Price Per Square Foot Survey reported that condo prices jumped 17.6%, reaching $421 per square foot, while detached home prices rose 12.17% to $470 per square foot.
Key Highlights
Condo Market Surge:
Condo price per square foot surged, reflecting strong demand for urban living—particularly among young professionals and first-time buyers prioritizing affordability and convenience.
Detached Home Appreciation:
Detached homes saw significant value increases as Calgary’s growing population continued to seek out more spacious living environments.
Comparative Affordability:
Despite these gains, Calgary remains one of Canada’s more affordable major cities. By comparison, downtown condos average $1,113 per square foot in Vancouver and $706 in Toronto.
Price Per Square Foot Survey Results 2024
| ALBERTA | HOUSE TYPE | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | % Change from 2023 |
| Calgary | House | $341 | $325 | $320 | $355 | $396 | $419 | $470 | 12.17% |
| Calgary | Condo | $329 | $317 | $296 | $303 | $326 | $358 | $421 | 17.60% |
Market Drivers
What factors drove Calgary’s upward market trend? Steady interprovincial migration, economic expansion, and favourable real estate conditions. Buyers and investors continue to flock to Calgary for its unique balance of urban amenities and affordability—two advantages that set it apart from larger, more expensive metropolitan markets.
Looking Ahead
Real estate trends mirror broader economic forces. At the Calgary Real Estate Board’s Forecast Conference, Chief Economist Ann-Marie Lurie predicted a shift toward more balanced conditions in 2025. Nearly halfway through the year, that prediction is taking shape.
Calgary’s market has begun to balance out in certain property segments and neighbourhoods. However, real estate is hyperlocal: each community has its own micro-economy. In some areas and property types, detached homes still favour sellers, while in others—with a focus on condos—buyers may hold the advantage.
Want a detailed neighbourhood report? I’m happy to help—reach out anytime at kyla.franks@century21.ca.
About Century 21 Masters
I’m Kyla Franks, a REALTOR® with Century 21 Masters, a province-wide brokerage serving clients in Edmonton, Calgary and surrounding communities. Our experienced team is committed to delivering outstanding service and expert guidance throughout every stage of your real estate journey.
This article is for informational purposes only and does not constitute professional advice. Always consult a licensed real estate professional before making any real estate decisions.
