Calgary Luxury Real Estate: Which Communities Dominate Calgary’s $1M+ Sales?

When you ask someone in Calgary where the luxury homes are, you’ll usually hear the same names: Mount Royal, Aspen Woods, Elbow Park, and Springbank Hill. These names are not wrong, but if you analyze the luxury sales data like I do, then you’d quickly realize the numbers tell a deeper story. Over the last decade, Calgary’s $1M+ market has shifted, with some communities holding their ground and others quietly climbing the charts.

As someone who lives and breathes this market, I’ve seen neighbourhood reputations rise and fall, but I always go back to the data to confirm what’s really happening. Let me walk you through the stats, the stories behind them, and why certain communities dominate Calgary’s luxury scene.

Let’s Start With Calgary’s Luxury Leaders: Who Tops the List?

When you consider market sales data from 2015 through 2025, a handful of neighbourhoods consistently show up as the heavyweights in Calgary’s luxury sales. Based on $1M+ transactions, the top performers include:

• Altadore
• Mount Royal
• Aspen Woods
• Elbow Park
• Springbank Hill
• West Springs
• Britannia
• Elbow Valley

Together, these areas account for the lion’s share of Calgary’s luxury volume. Some are expected players (Mount Royal has always been synonymous with prestige), while others, like Altadore, represent a shift toward modern builds in trendy, walkable areas.

Community Profiles: How has Each Community Performed In The Last 10 Years?

Altadore: Calgary’s New-Age Luxury Star

Altadore has become a magnet for buyers who want inner-city living with space, design, and prestige. With over 450 $1M+ sales since 2015, it’s one of Calgary’s most active luxury neighbourhoods. Many of these homes are new infills, sleek and modern, attracting professionals and families who want to stay close to Marda Loop.

This surge shows that Calgary’s luxury market isn’t just about heritage estates — it’s also about lifestyle. Nowhere is that clearer than in Altadore, the city’s most desirable infill neighbourhood. Buyers will pay well over $1M for the ability to walk to Marda Loop cafés, bike down to the Elbow River, and still be only minutes from downtown. Altadore has become the poster child for modern luxury living in Calgary — stylish, connected, and in constant demand.

Mount Royal: Old Money, Steady Numbers

Upper Mount Royal still ranks high, though its volume isn’t as explosive as Altadore’s. Over the last 10 years, it’s logged just under 300 sales above $1M. That’s fewer transactions, but the dollar values are consistently higher — many homes here trade between $2.5M–$5M, and a handful climb well above that.

Mount Royal is about heritage, tree-lined streets, and prestige. The homes are often larger, with established landscaping and timeless architecture. Unlike Altadore’s churn, Mount Royal is slower-moving — when an estate sells, it’s an event.

Aspen Woods & Springbank Hill: West Calgary’s Heavy Hitters

Drive west on 17th or up the hills off Bow Trail, and you’re in Calgary’s luxury growth corridor. Aspen Woods and Springbank Hill together account for more than 700 $1M+ sales since 2015.

These areas appeal to families who want private schools, large lots, and mountain views. They’ve also attracted out-of-province buyers looking for size and value compared to Toronto or Vancouver.

Elbow Park: Character Meets Value Retention

Elbow Park sits between the river and downtown, offering heritage homes, rebuilds, and proximity to some of Calgary’s best schools. With around 250 $1M+ sales in the last decade, it doesn’t move as much volume as the west side, but it commands attention.

Interestingly, Elbow Park is less prone to wild swings. Prices here are more stable, and when you sell, the buyer pool is educated and discerning. That stability is attractive for families who see a home here as a 10–20 year hold.

West Springs & Britannia: Secondary but Strong

• West Springs has posted around 200 $1M+ sales since 2015, appealing to families who want newer builds in a suburban feel while still being close to downtown.
• Britannia, while smaller, punches above its weight in prestige. With fewer than 100 $1M+ sales in 10 years, its homes average some of the highest per-square-foot values in the city.

Communit Shifts Over Time: Who’s Rising and Who’s Levelling Off?

The trends are telling. Altadore’s curve is sharp, peaking in years when multiple infill projects are completed simultaneously. Aspen Woods saw its biggest surge in 2021–2022, right as COVID-era buyers wanted space and proximity to the mountains. Mount Royal, on the other hand, looks steady — rarely dipping below 20 transactions a year, but never breaking into the frenzied numbers of Altadore.

The Anomaly Factor: One Sale That Warps the Picture

Here’s where the numbers need context. In 2018, one $10M+ sale in Mount Royal spiked the neighbourhood’s dollar volume for that year. Without context, it looks like Mount Royal had a breakout year — but it was really just one deal.

I always remind clients: averages can lie if you don’t dig deeper. A single estate sale can distort the perception of “growth.” That’s why it helps to look not just at averages but at counts, medians, and overall consistency.

Why This Matters for Buyers and Sellers

For sellers, knowing where your community sits in this hierarchy helps set expectations. Listing a home in Altadore? You’re in a fast-moving market, but competition is fierce. Selling in Mount Royal or Elbow Park? The buyer pool is narrower, but willing to spend big for the right home.

For buyers, the charts highlight opportunity. If you’re after lifestyle and modern builds, Altadore and Aspen Woods dominate. If you want legacy and stability, Mount Royal and Elbow Park carry the torch

Wrapping It Up

The story of Calgary’s luxury real estate isn’t just about prestige names; it’s about patterns of movement. Altadore’s infills, Aspen’s family estates, Mount Royal’s heritage homes, and Elbow Park’s stable legacy all paint a nuanced picture of a city that’s growing and redefining luxury.

The data shows where the action is, but the context — lifestyle, prestige, history — tells us why. And when you’re making decisions about buying or selling in Calgary’s luxury market, that blend of numbers and nuance is what really matters.

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Ready to Make Your Move in Calgary’s Luxury Market?

With years of experience helping clients buy and sell Calgary’s most desirable luxury properties — from Altadore infills to Mount Royal estates and Aspen family homes — I know how to position a property for maximum value and guide buyers to the right opportunities.

📞 If you’re considering selling or buying a $1M+ home in Calgary, reach out to me directly. I’d be glad to put my expertise to work for you.

👉 Contact Spencer Rivers – Luxury Homes Calgary

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FAQ: Calgary’s Luxury Neighbourhoods