For the third consecutive quarter, sales growth in all communities surrounding Calgary was in the double digits. In addition to lifestyle preferences, demand in surrounding areas has improved due to the relative price advantage over Calgary and less supply constraints in many of the surrounding markets.

During the first quarter of the year, 44 per cent of new listings in surrounding areas were priced below $400,000. Within the city of Calgary, 23 per cent of single family homes were under this price point.

Once spurred by the discovery of precious natural resources such as gold, silver or oil, the towns around Calgary have found another catalyst for growth.

Driven by relatively high level of affordability in comparison to their big city brethren, buyers in Calgary's surrounding communities snapped up homes at a rate not seen in several years.

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.

Calgary's community of Aspen Woods and west Airdrie will see new schools being built.

The Aspen Woods school will benefit about 750 Kindergarten to Grade 6 Roman Catholic Separate School District students, and the Airdrie school will serve 600 Rocky View School Division Kindergarten to Grade 4 students.