House prices in Kelowna vs Calgary


The numbers speak for themselves.

The benchmark sale price for a typical fine single-family home in Calgary is $643,000, according to the Calgary Real Estate Board.

The same house in Kelowna costs $1,060,000, according to the Association of Interior Realtors.

This means that a similar house in Calgary is 39% cheaper.

Here we are comparing apples to apples.

We found an 1,852-square-foot, three-bedroom, three-bathroom home listed for $1,058,000 on Kelowna’s Lowe Court near Okanagan College.

In southeast Calgary on Chapman Circle, we found a 1,922-square-foot, four-bedroom, three-bathroom home for sale for $644,900.

Both are shown below.

</who>The benchmark selling price for a typical single-family home in Kelowna is $1,060,000 (pictured, left) and in Calgary it’s $643,000 (pictured, right).” class=”img-responsive ” src=”https://www.kelownanow.com/files/files/images/Blank%20850%20x%20446%20(11).jpg” style=”margin: 5px;”/></p>
<p>It’s the kind of dramatic difference that drives people to move from Kelowna to Calgary to find more affordable housing.</p>
<p>(See comparable prices for townhouses and condominiums in Kelowna and Calgary below).</p>
<p>Earlier this week, KelownaNow did a “Goodbye Kelowna, I’ve Moved to Calgary” story about three people who recently retired from stakes in the Okanagan to move to Calgary.</p>
<p>The common theme for all three was escaping unaffordable housing in Kelowna for affordable housing in Calgary.</p>
<p>“I’m hearing more and more people leaving the Kelowna market for more affordable places, not just Calgary, but Edmonton (where a typical single-family home is even cheaper at $494,000) and closer to smaller towns like Lumby and Salmon Arm,” said Amanda Cormier, Royal LePage Kelowna real estate agent.</p>
<p>“But Kelowna is a sought-after area with its great weather, great growth and lifestyle, so there will always be people moving here as well.”</p>
<p>Calgary may have a harsher, longer winter (and no Okanagan Lake or vineyards), but it’s also desirable for its affordability, urban livability, amenities and recreation, booming economy, and 50 minute proximity to the playground of the Rocky Mountains.</p>
<p>In fact, our neighboring province is touting it all in its just-released AlbertaIsCalling.ca campaign, encouraging skilled workers to move to the land of low taxes, high wages and more than 300 sunny days a year.</p>
<p><img alt=Amanda Cormier, left, is a real estate agent with Royal LePage Kelowna. Matt Callbeck, right, is a real estate agent with Royal LePage Calgary. Both have seen people move from Kelowna to Calgary for cheaper housing.” class=”img-responsive” src=”https://www.kelownanow.com/files/files/images/Blank%20850%20x% 20446%20(9)(1).png” style=”margin: 5px;”/>

“We’ve seen a sea change in the Calgary real estate market, with people moving here because of affordability and opportunity,” said Matt Callbeck, real estate agent with Royal LePage in Calgary.

“I would say 80% of the people moving here from out of province are from Ontario, especially Toronto and surrounding areas. But we also see people moving from Vancouver and Kelowna.”

Callbeck pointed out that for the price of a condominium in Toronto, Vancouver or Kelowna, a buyer could snag a nice home in Calgary with the Alberta lifestyle to boot.

And for the $1 million price of an average single-family home in Kelowna, someone could land a 3,000 square foot estate in Calgary with five bedrooms and a triple garage.

“The price depends a lot on the neighborhood, as it does in any city,” Callbeck said.

“But, one thing is for sure, anything comparable in Calgary is cheaper than in Kelowna.”

</who>The benchmark sale price for a standard townhouse in Kelowna is $783,500 (pictured left), in Calgary $362,600 (pictured right).” class=”img-responsive” src= “https://www.kelownanow.com/files/files/images/Blank%20850%20x%20446%20(12).jpg” style=”margin: 5px;”/></p>
<p>As for townhouses, the benchmark selling price for a typical home in Kelowna is $783,500, in Calgary $362,600, or 54% less.</p>
<p>For comparison, we found a 1,500-square-foot, three-bedroom, three-bathroom townhouse listed for sale on Celano Crescent in Kelowna’s North Glenmore.</p>
<p>In northeast Calgary on Redstone Circle, a 1,319 square foot, three-bedroom, three-bathroom townhouse is listed for sale for $360,000.</p>
<p>The two townhouses pictured above.</p>
<p><img alt=The benchmark selling price for a typical condominium in Kelowna is $522,100 (pictured, left), in Calgary $278,800 (pictured, right).” class=”img-responsive” src= “https://www.kelownanow.com/files/files/images/Blank%20850%20x%20446%20(13)(1).jpg” style=”margin: 5px;”/>

For condos, we found a $519,900, two-bedroom, two-bathroom, 894-square-foot unit in the four-story Verve complex in Kelowna’s North Glenmore, listed for sale.

In southeast Calgary, there are two examples: in a downtown high-rise, a two-bed, two-bath condo for $279,900 and a two-bed, two-bath condo in a six-story development in the Skyview neighborhood for $277,900.

The two condo buildings pictured above.

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