Calgary, like the rest of the world, saw many changes after 2020, and the housing market was no exception.
A new report from the real estate platform Zoocasa found two Alberta cities lead the way with the biggest jump in sales across Canada.
Both Calgary and Edmonton saw housing sales increase by 146% between 2020 and 2024. Those numbers make sense when considering the population surge the province has seen over the past few years.
Zoocasa
The Alberta population increased by 4.4% when 202,234 people flocked to the province in just one year between January 2023 and 2024.
Zoocasa says that the significant increase is the highest the province has seen since 1981 and “is a positive indicator of the region’s future growth potential.”
The report also cites Alberta Government statistics tracking interprovincial migration, which found that Alberta was the only province in Canada with significant net gains from people migrating from different regions and territories, with 12,482 people in the first quarter of 2024.
The government’s controversial “Alberta is Calling” campaign also took advantage of the province’s affordable housing market when compared to other major Canadian cities. According to many former Vancouverites, the comparatively low cost of living was a major draw to Calgary.
Locals might be a bit hesitant about Vancouverites and Torontonians considering making the move because of more affordable housing, as the influx of people is driving costs way up.
As of May 2024, the non-seasonally adjusted residential home prices in Calgary are $587,100, and in Edmonton, they are $392,700.