While they may trail their metropolitan neighbor in stature, Calgary's surrounding communities are no slouch when it comes to sales. Buoyed by affordability, Airdrie, Cochrane and Okotoks all recorded double-digit sales growth in the third quarter and represent nearly half of the sales activity surrounding Calgary.

"We chose Airdrie over Calgary because our money went a lot further when buying a house as far as size and yard," said Jody Paterson, who recently purchased a single-family home in Airdrie with her fiance after living in an apartment in Calgary.