While concerns regarding the impact of future US tariffs on the oil and gas industry and the upcoming federal election exist, there appears to be nominal pullback in the luxury sector of the Calgary real estate market with sales over $1.5 million up more than 11 per cent over last year’s levels. Sixty-eight properties changed hands in the first two months of 2025, up from 61 per cent during the same period in 2024.
Nearly 220 residential properties sold above the $1.5-million price point between January and April 2026, up approximately 14 per cent over the same period in 2025. Detached homes continued to dominate luxury sales activity, although the condominium segment has gained momentum at the upper end. A total of 12 apartment units sold above $1.5 million in the first four months of the year, compared with nine sales during the same period in 2025.
Most activity remained concentrated at the entry point to luxury, where demand between $1.5 million and $2 million has been strong. At the same time, momentum has started to build at higher price points, with sales over $2 million posting a 21-per-cent increase in year-over-year gains (86 in 2026 compared to 71 in 2025).
Established enclaves and emerging neighbourhoods gain ground
Traditional luxury enclaves continue to attract strong buyer interest. Areas synonymous with prestige and wealth include Britannia, Elbow Park, Pump Hill, Aspen Woods, Mount Royal, Patterson and Rideau Park in Calgary South and Edgemont, Varsity, Hamptons, University Heights, Hillhurst and St. Andrews Heights in the Northwest.
The overall market has also seen growing levels of luxury activity, with more homes trading above the $1.5-million price point in non-traditional pockets. Part of that shift is driven by the rise of new luxury infill development throughout the city. These properties are reshaping many established neighbourhoods—particularly those closest to the downtown core—bringing renewed demand and higher price appreciation to areas outside of Calgary’s typical luxury spotlight.
Economic strength underpins confidence
Calgary’s luxury housing market continues to benefit from some of the strongest economic fundamentals in the country. Interprovincial migration remains a major driver, with affluent buyers from Ontario and British Columbia drawn to the city’s relative affordability, employment opportunities and quality of life. Many are arriving with significant equity, allowing them to move more freely within the upper-end market.
Economic diversification beyond oil and gas bodes well for the luxury segment, with growth in technology, logistics, financial services and clean energy helping to bolster confidence among high-income earners and corporate executives. Strong wage growth, ongoing infrastructure investment and the city’s business-friendly environment have further reinforced Calgary’s appeal among luxury homebuyers.
Looking ahead, those fundamentals are expected to continue supporting high-end sales between the $1.5-million and $3-million price points where demand remains strongest. As momentum builds in the $1-million-plus price bracket, activity could gradually ripple upward into higher luxury price points. Buyers remain discerning and value-conscious, especially at the very top end, but well-appointed turnkey homes in desirable neighbourhoods are expected to continue performing well. Calgary’s luxury market is well-positioned for growth in the months ahead, supported by ongoing population growth, economic resilience and relative affordability.Top of Form
