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What are Calgary's Most Expensive Communities

Posted by Jim Sparrow on Saturday, February 19th, 2011 at 8:13pm.

What are Calgary’s Most Expensive Communities?

Calgary's Most Expensive Communities Do you live in one of Calgary’s seven most expensive communities?

We thought it would be fun to share the seven Calgary communities with the highest median single family real estate assessments (averaged for the entire community).

All seven communities are located in SW Calgary:

 

#7: Britannia

Britannia Real Estate
Coming seventh on the list this year is Britannia; Median community assessed value of $1,185,000 (down 0.8% from last year).

#6: Elbow Park:

Elbow Park Luxury Property

In sixth place is Elbow Park; Median assessed value of $1,220,000 (up over 18% from last year).
Elbow Park also is home to Calgary’s current all-time most expensive home sale ($10,300,000).

#5: Roxboro:

Roxboro Luxury Property
In fifth spot is Roxboro; Median assessed single family value is $1,320,000 (same as last year). The quiet neighbourhood of Roxboro borders the Elbow River immediately south of the Mission district.

#4: Rideau Park:

Rideau Park Luxury Property

In fourth place is Rideau Park; Median assessed value is $1,430,000 (up 6.7% from last year). Rideau Park is just west of Roxboro and also borders the south side of the Elbow River.

#3: Eagle Ridge:

Eagle Ridge Luxury Property

The upscale enclave of Eagle Ridge claims third spot; Median assessment of $1,450,000 (up 4.7% from last year).

#1 & #2: Mount Royal & Bel Aire:

Mount Royal Luxury PropertyBel Aire Luxury Property

Tied for Calgary’s most expensive communities are Upper Mount Royal & Bel Aire; Both have a median assessed house value of $1,530,000 (Bel Aire’s median assessment rose 7% while Mount Royal’s is up 15% from 2010). Bel Aire & Mount Royal have both been amongst the most expensive property in the city for the past 30 years.

 

Calgary Luxury HomesRegardless of where you live, if you’re considering selling your luxury property in the Calgary area you owe it to yourself to give the Jim Sparrow team a call.

We believe spectacular properties deserve equally spectacular photos, & we spend the time & resources needed for stunning results.

We offer only one level of service – the best. Call us to find out more.

If you're looking to sell or buy, do not hesitate to contact us.

We are prepared to work hard ensuring that your needs are met and that the result is more than you were hoping for. Nothing gives us more pleasure than your success and being with you through major life changes.

11 Responses to "What are Calgary's Most Expensive Communities"

Scott wrote: Why are there no communities from NW Calgary, like Crescent Heights or Rosedale?

Posted on Sunday, February 20th, 2011 at 12:51pm.

Jim Sparrow wrote: @Scott: While several of Calgary's more expensive homes are located on Crescent Road, which runs through both <a href="http://www.jimsparrow.com/crescent-heights.php">Crescent Heights</a> & <a href="http://www.jimsparrow.com/rosedale.php">Rosedale</a>, the "average" median price of homes in both neighbourhoods is below the $1 million mark ($464,000 in Crescent Heights, $791,000 in Rosedale).

Posted on Sunday, February 20th, 2011 at 4:34pm.

Smart Calgary Homes wrote: Those are some beautiful areas and spectacular homes!

Posted on Monday, April 25th, 2011 at 7:53am.

Dave wrote: Im curious where the money comes from. I see young families with swingsets behind a $2.5 million dollar home. Looking at medium wages in Calgary, even the top paid salaries ( lawyers, doctors and engineers), are still below $150,000 before taxes. Are these people just scrapping by on a larger scale??

Posted on Sunday, May 8th, 2011 at 11:48am.

Dave wrote: Because I work 50-60 hrs/week, my yearly salary would be considered 'UpperMiddleClass' for a single, middle-aged Albertan male. With 25% down and a 25 year mortage, I still wouldnt be aproved for anything better than a 1100 sq.ft. middle-class fixer-upper in Calgary's S.W. Something's not right with the prices here in Calgary. Feel sorry for GenerationX in Vancouver!

Posted on Sunday, May 8th, 2011 at 12:35pm.

Jim Sparrow wrote: @Dave - While you are correct that the median income for Calgary families is well below what it would take to purchase one of these Calgary luxury homes (median family income now just under $92,000 per year), don't overlook that fact that there are literally thousands of Calgary families with a net worth of 7 figures or more. Calgary has the greatest concentration of educated professionals per capita of any place in North America, and many of those "lawyers, engineers" and others associated with the oil & gas biz earn jaw-dropping salaries + bonuses.

Posted on Sunday, May 8th, 2011 at 12:42pm.

Dave wrote: Historically, an average home would cost aprox. 4 times a persons yearly income before taxes. Now its more like 5.5 times a 'double' income to purchase the same middle-class home. Im just shaking my head.

Posted on Sunday, May 8th, 2011 at 4:58pm.

Jim Sparrow wrote: @Dave - not ~quite~. Historically the MEDIAN price of a Calgary home was roughly 4.5 times MEDIAN Family income. The median price of SF Calgary homes is currently running @ $400K (YTD figures from CREB), precisely along the historical long-term trend. Rest assured that the median price of a SW Calgary home is higher than that (roughly $500K), but the SW median family income is demonstrably higher than other quadrants of Calgary.

Posted on Sunday, May 8th, 2011 at 5:31pm.

Irving wrote: Hey Jim,

Just curious where does Springbank and Bearspaw stand?

Posted on Wednesday, July 20th, 2011 at 10:26am.

Jim wrote: @Irv - that's difficult to answer as The MD of Rockyview doesn't publish median "community" numbers for either the Springbank or Bearspaw areas. There are at least a couple of homes in both areas that are worth well into the 8 figure range.

Posted on Wednesday, July 20th, 2011 at 4:58pm.

JOSEPH wrote: .......... there is always the possibility to come back home to Saskatchewan ............

Posted on Monday, October 24th, 2011 at 12:44pm.

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