Aggregate sales in the communities surrounding Calgary grew by nearly 12 per cent in 2013 for a total of 4,400 units. Unlike trends in the city, the level of new listings in surrounding areas fell by one per cent in 2013 compared to the previous year. Rising sales activity, combined with a decline in new listings, helped reduce somewhat elevated supply levels and supported some price growth.

Areas surrounding the city have not only benefited from the strong economic fundamentals in the region, but have attracted many consumers looking for more affordable product with existing amenities in place.

The town of Okotoks has voted to pursue the development of a regional water system via Calgary to meet the future growth needs.

With the town's water usage approaching the 700 million gallons per year it is permitted to draw from the nearby Sheep River, additional water capacity is required to meet the town's long-term growth plan.

The towns around Calgary are often admired for their relaxed pace and laidback lifestyle, but for those in buying or selling a home in Airdrie, Cochrane and Okotoks, the last three months have been anything but.

A result of gains in the single-family homes sector, the three communities all recorded the highest third-quarter sales activity on record.