CALGARY LUXURY MARKET
Calgary’s $1M+ Market Is Accelerating Into 2026: Here’s What the Data Says
By Spencer Rivers | March 2026 | luxuryhomescalgary.ca
Calgary’s luxury real estate market didn’t ease into 2026—it hit the ground running. Through the first two months of the year, every key metric points in the same direction: higher prices, faster sales, and intensifying competition.
As someone who tracks every $1M+ transaction in the city, I’ve analyzed 4,103 sold properties totaling $6 billion in volume over the past two years to understand exactly where this market stands today and where it’s heading into spring.
Here’s what the numbers are telling us.
Let’s start with the headline numbers for January through February 2026:
|
AVG SALE PRICE $1.59M ▲ 8.9% vs Jan-Feb 2025 |
DAYS ON MARKET 16.8 ▼ 56% vs Jan-Feb 2025 |
SALE-TO-LIST 99.5% ▲ from 98.6% in 2025 |
OVER ASKING 29.6% ▲ from 10.1% in 2024 |
To put that in perspective: two years ago, only 10% of luxury homes sold above their asking price. Last year it was 21%. Now it’s nearly 30%—and climbing. The over-asking rate has roughly tripled in just two years.
Homes are also moving dramatically faster. The median time to sell dropped to just 13 days, down from 22 days in early 2025 and 48 days in early 2024. Nearly 1 in 3 luxury homes sold within 7 days of listing, and 84% sold within 30 days.
February deserves its own spotlight. The average sale price reached $1.75 million—the highest monthly average recorded in the past two years. But the real story is the competition:
|
100.8% SALE-TO-LIST RATIO Avg buyer paying over asking |
9.5 Days AVERAGE DOM Down from 37.5 in Feb 2025 |
43% SOLD OVER ASKING Up from 13% in Feb 2024 |
For the first time in recent memory, the average Calgary luxury buyer is paying above list price. This is a fundamental shift from the negotiation-heavy environment of just two years ago.
Six luxury properties sold on the same day they were listed in 2026. These weren’t modest entries into the million-dollar club—they include a $3.85 million home in Roxboro, a $3.5 million sale in Hillhurst, and a $2.36 million property in Altadore.
This kind of velocity signals a market where serious buyers have their financing in place and their decision-making process streamlined before they even walk through the door. For sellers, it means the first week on market is everything.
Not all luxury neighbourhoods are performing equally. Here are the standouts so far in 2026:
|
Neighbourhood |
Sales |
Avg Price |
Avg DOM |
Sale/List |
Over Ask |
|
Elbow Park |
7 |
$2.79M |
8 days |
103.3% |
4 of 7 |
|
Roxboro |
3 |
$3.07M |
13 days |
102.6% |
1 of 3 |
|
Strathcona Park |
4 |
$1.23M |
8 days |
103.8% |
3 of 4 |
|
Hillhurst |
5 |
$1.72M |
10 days |
102.1% |
3 of 5 |
|
Discovery Ridge |
5 |
$1.35M |
10 days |
102.0% |
3 of 5 |
|
Aspen Woods |
5 |
$1.48M |
14 days |
101.0% |
2 of 5 |
|
West Springs |
8 |
$1.22M |
18 days |
100.4% |
5 of 8 |
|
Altadore |
10 |
$1.90M |
18 days |
99.0% |
2 of 10 |
|
Upper Mt Royal |
3 |
$2.86M |
5 days |
98.2% |
0 of 3 |
Elbow Park is the clear standout: seven sales averaging $2.79 million with a 103.3% sale-to-list ratio and just 8 days on market. Buyers in Elbow Park aren’t just meeting asking prices—they’re exceeding them by an average of 3.3%.
Strathcona Park is quietly emerging as one of the most competitive communities, with 3 of 4 sales going over asking at a 103.8% ratio—the highest of any neighbourhood with multiple transactions in 2026.
Some of the most striking sales in 2026 illustrate how aggressive buyers have become:
A Lakeview home listed at $1.385 million sold for $1.7 million—a 22.7% premium—in just five days. An Elbow Park property priced at $1.275 million went for $1.5 million (17.6% over asking). And a $4.45 million Britannia listing closed at $4.8 million in a single day.
These aren’t anomalies. They’re the direct result of a market with more qualified buyers than available inventory in Calgary’s most desirable communities.
Currently there are 474 active luxury listings across Calgary with 49 pending sales. Overall months of supply sits at 7.1—technically balanced. But the aggregate number masks significant variation by price tier:
|
Price Tier |
Active |
Sales/Month |
Months Supply |
Condition |
|
$3M–$5M |
20 |
3.7 |
5.5 |
Seller’s Market |
|
$1M–$2M |
376 |
55.7 |
6.8 |
Balanced |
|
$2M–$3M |
66 |
6.7 |
9.9 |
Buyer’s Market |
|
$5M+ |
12 |
0.3 |
36.0 |
Event-Driven |
The $3 million to $5 million tier is the tightest segment in the market at just 5.5 months of supply. With only 20 active listings absorbing nearly 4 sales per month, sellers in this range hold significant leverage. Buyers should expect competition and come prepared to act quickly.
The ultra-luxury tier ($5M+) shows 36 months of supply on paper, but this is misleading. With only 0.3 sales per month, it’s a thin, event-driven market where a single motivated buyer changes the entire dynamic.
When you zoom out and compare January through February across three years, the acceleration becomes impossible to ignore:
|
Metric |
Jan-Feb 2024 |
Jan-Feb 2025 |
Jan-Feb 2026 |
|
Average Price |
$1.53M |
$1.46M |
$1.59M |
|
Median DOM |
48 days |
22 days |
13 days |
|
Sale-to-List |
96.6% |
98.6% |
99.5% |
|
Over Asking % |
10.1% |
20.7% |
29.6% |
|
Sold ≤ 7 Days |
3.0% |
18.6% |
28.9% |
|
Transactions |
169 |
323 |
159* |
*February 2026 data is partial as the month has not fully closed in all MLS reporting.
The story is clear: while transaction volume naturally fluctuates with inventory and seasonal cycles, the intensity metrics—price, speed, and competition—are all strengthening year over year.
You have leverage, particularly in the $1M to $5M range. But leverage only converts to results when paired with strategy. The data shows that properly priced homes in desirable neighbourhoods are attracting multiple offers within two weeks. Overpriced listings, however, still languish—the average active listing has been sitting for 59 days.
The takeaway: the market rewards preparation, not aspiration. Professional staging, strategic pricing, and a robust marketing campaign from Day 1 are non-negotiable if you want to capture the premium this market is willing to pay.
Pre-approval isn’t optional—it’s your entry ticket. The homes you want are selling before most people finish their first viewing. In neighbourhoods like Elbow Park, Strathcona Park, and Roxboro, you may have less than a week to make a decision.
Come prepared with a clear budget, a prioritized wish list, and the willingness to act decisively. The buyers who are winning in this market aren’t the ones who wait to “see what else comes up.”
Calgary’s luxury market has fundamentally shifted. The data across 4,100+ transactions and $6 billion in volume doesn’t leave much room for debate. Prices are up, speed is up, competition is up—and spring hasn’t even started. Whether you’re considering selling, buying, or simply want to understand where your home fits in today’s market, the time to have that conversation is now.
|
Spencer Rivers CLHMS | CNE | CIPS | CCS | LLS | Million Dollar Guild Top 1% Calgary Agent • $200M+ Career Sales • 300+ Transactions luxuryhomescalgary.ca |
Data sourced from MLS®. All figures represent residential transactions $1M+ through Calgary and surrounding areas. Data current through February 2026. This analysis is for informational purposes and does not constitute financial advice.