Calgary named one of the best places to buy real estate in Canada

The real estate market in Calgary is one many people want to break into, and one new ranking showed YYC landing in the top 10 places to buy in Canada.

Money Sense and Zoocasa rounded up the top 45 regions in the country to buy real estate, with Calgary landing at #8, the sole Alberta spot to crack the top 10 regions.

The benchmark price in 2023 for real estate in Calgary was $541,175, more than $193,000 below the national average; however, it has spiked 6% over the year before, 31% over three years, and 27% over a five-year timeframe.

Spots in New Brunswick took the top two, with Greater Moncton coming in first place followed by Saint John.

Our neighbours to the north also landed on the list, with Edmonton coming in at #17.

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Money Sense added that overall real estate activity was relatively stable across the country in 2023, except in the spring, when Canadians began feeling more urgency to buy.

“After years of unprecedented competition, 2023 brought a shift back to a slower home-buying process. Motivated buyers had the opportunity to deliberate more carefully and negotiate at a more measured pace,” says Carrie Lysenko, chief executive officer of Zoocasa.

“As prices come down and forecasts suggest a drop in interest rates, buyers that took to the sidelines are growing more optimistic.”

Money Sense says it used data from Statistics Canada, CREA, Nova Scotia Association of Realtors (NSAR), Toronto Regional Real Estate Board (TRREB), Realtors Association of Edmonton (RAE), Calgary Real Estate Board (CREB), Greater Vancouver Realtors (GVR) and WalkScore to determine the best places to buy real estate.