The housing market in Calgary continues to be in high demand, and it seems that some neighbourhoods are even more sought after than others right now.
According to the digital real estate platform Wahi, several neighbourhoods in the city have seen serious overbidding, indicating a lot of interest in those areas.
Between May and July of this year, over half of the neighbourhoods in Calgary saw homes sell for above their listing prices, which is a 13% increase from the first quarter of 2024.
Wahi
It looks like the northwest is continuing to take the market by storm with three of the five neighbourhoods included in the list located in that quadrant of the city.
Some didn’t change from May with Deer Ridge and North Haven still coming out on top. Cambrian Heights, MacEwan Glen and Elboya moved up, taking their place as contenders for some of the most in-demand neighbourhoods in Calgary.
The cost of a home in Elboya is now $1,162,500, a staggering $50,050 over the asking price.
“Whether it’s buyers from other provinces attracted by Calgary’s relative affordability or locals benefitting from Alberta’s resilient economy, demand remains strong for Calgary real estate,” says Wahi CEO Benjy Katchen.
Overall, 102 neighbourhoods were overbid and 34 were selling at asking in the second quarter, up from 76 and 31, respectively.