Despite last year's flood, the booming city of Calgary is home to the hottest high-end real estate market in Canada, says a new report.

The city saw the largest rise in sales of homes over $1 million compared to 2012, and had ten consecutive months of record sales in 2013, says the report by Sotheby's International Realty Canada which analyzes luxury real estate in Canada's urban centres.

"For the rapidly growing western city, 2013 proved to be another monumental year," says the report.

Story continues after slideshow

Loading Slideshow...
  • $4.9 Million

    Ten minutes away from downtown Calgary, this 6,500 square feet how backed onto 4.25 acres of Edworthy park over looking the river valley. The property has 16 feet living room ceilings, a walkout basement sportsbar and a nanny suite with a full kitchen, fireplace and elevator.

  • $4.9 Million

    Ten minutes away from downtown Calgary, this 6,500 square feet how backed onto 4.25 acres of Edworthy park over looking the river valley. The property has 16 feet living room ceilings, a walkout basement sportsbar and a nanny suite with a full kitchen, fireplace and elevator.

  • $4.9 Million

    Ten minutes away from downtown Calgary, this 6,500 square feet how backed onto 4.25 acres of Edworthy park over looking the river valley. The property has 16 feet living room ceilings, a walkout basement sportsbar and a nanny suite with a full kitchen, fireplace and elevator.

  • $4.9 Million

    Ten minutes away from downtown Calgary, this 6,500 square feet how backed onto 4.25 acres of Edworthy park over looking the river valley. The property has 16 feet living room ceilings, a walkout basement sportsbar and a nanny suite with a full kitchen, fireplace and elevator.

  • $5.2 Million

    This penthouse in downtown Calgary offers panoramic views of Prince's Island Park, the City lights and the river has a total living space of over 3,200 square feet. It building offers a 24 hour concierge service, a high speed elevator opening directly onto the suite, private secure parking with a heated ramp and car wash bay, an exercise room, a guest suite, a conference room and a temperature controlled wine cellar.

  • $5.2 Million

    This penthouse in downtown Calgary offers panoramic views of Prince's Island Park, the City lights and the river has a total living space of over 3,200 square feet. It building offers a 24 hour concierge service, a high speed elevator opening directly onto the suite, private secure parking with a heated ramp and car wash bay, an exercise room, a guest suite, a conference room and a temperature controlled wine cellar.

  • $5.2 Million

    This penthouse in downtown Calgary offers panoramic views of Prince's Island Park, the City lights and the river has a total living space of over 3,200 square feet. It building offers a 24 hour concierge service, a high speed elevator opening directly onto the suite, private secure parking with a heated ramp and car wash bay, an exercise room, a guest suite, a conference room and a temperature controlled wine cellar.

  • $5.2 Million

    This penthouse in downtown Calgary offers panoramic views of Prince's Island Park, the City lights and the river has a total living space of over 3,200 square feet. It building offers a 24 hour concierge service, a high speed elevator opening directly onto the suite, private secure parking with a heated ramp and car wash bay, an exercise room, a guest suite, a conference room and a temperature controlled wine cellar.

  • $5.3 Million

    This home is situated on 17,933 square feet corner lot and offers over 6,200 square feet of developed living space, 4 + 2 bedrooms, hardwood floor and four fireplaces. It also has a triple attached garage, a private south back yard and a large patio.

  • $5.3 Million

    This home is situated on 17,933 square feet corner lot and offers over 6,200 square feet of developed living space, 4 + 2 bedrooms, hardwood floor and four fireplaces. It also has a triple attached garage, a private south back yard and a large patio.

  • $5.3 Million

    This home is situated on 17,933 square feet corner lot and offers over 6,200 square feet of developed living space, 4 + 2 bedrooms, hardwood floor and four fireplaces. It also has a triple attached garage, a private south back yard and a large patio.

  • $5.3 Million

    This home is situated on 17,933 square feet corner lot and offers over 6,200 square feet of developed living space, 4 + 2 bedrooms, hardwood floor and four fireplaces. It also has a triple attached garage, a private south back yard and a large patio.

  • $5.3 Million

    This home backs onto a 40 acre hillside reserve, and boasts breath-taking, unsurpassed city views. It has 8,500 square feet of living space, and also has a climate controlled wine cellar, theater room and gym.

  • $5.3 Million

    This home backs onto a 40 acre hillside reserve, and boasts breath-taking, unsurpassed city views. It has 8,500 square feet of living space, and also has a climate controlled wine cellar, theater room and gym.

  • $5.3 Million

    This home backs onto a 40 acre hillside reserve, and boasts breath-taking, unsurpassed city views. It has 8,500 square feet of living space, and also has a climate controlled wine cellar, theater room and gym.

  • $5.3 Million

    This home backs onto a 40 acre hillside reserve, and boasts breath-taking, unsurpassed city views. It has 8,500 square feet of living space, and also has a climate controlled wine cellar, theater room and gym.

  • $5.8 Million

    This penthouse is located along the Bow River pathway and boasts spectacular 360 degree panoramic views of the city and mountains. It has direct secured elevator access, remote controlled window coverings, four fireplaces, three separate balconies, and a 1,970 square foot roof top patio.

  • $5.8 Million

    This penthouse is located along the Bow River pathway and boasts spectacular 360 degree panoramic views of the city and mountains. It has direct secured elevator access, remote controlled window coverings, four fireplaces, three separate balconies, and a 1,970 square foot roof top patio.

  • $5.8 Million

    This penthouse is located along the Bow River pathway and boasts spectacular 360 degree panoramic views of the city and mountains. It has direct secured elevator access, remote controlled window coverings, four fireplaces, three separate balconies, and a 1,970 square foot roof top patio.

  • $5.8 Million

    This penthouse is located along the Bow River pathway and boasts spectacular 360 degree panoramic views of the city and mountains. It has direct secured elevator access, remote controlled window coverings, four fireplaces, three separate balconies, and a 1,970 square foot roof top patio.

  • LOOK: Cheapest Houses For Rent In Calgary

  • $1695

    Community: Citadel Monthly Rent: $1695.00 Bedrooms: 3 Bathrooms: 3 Square Footage: 1465

  • $1695

  • $1695

  • $1695

  • $1695

  • $1680

    Community: Crescent Heights Monthly Rent: $1680.00 Bedrooms: 2 Bathrooms: 1 Square Footage: 970

  • $1680

  • $1680

  • $1680

  • $1680

  • $1600

    Community: Oakridge Monthly Rent: $1600.00 Bedrooms: 3 Bathrooms: 1.5 Square Footage: Approx. 1175

  • $1600

  • $1600

  • $1600

  • $1600

  • $1600

    Community: Coventry Hills Monthly Rent: $1600.00 Bedrooms: 3 Bathrooms: 2.5 Square Footage: 1361

  • $1600

  • $1600

  • $1600

  • $1600

  • $1600

    Community: Somerset Monthly Rent: $1600.00 Bedrooms: 3 Bathrooms: 1.5 Square Footage: 1230 plus basement

  • $1600

  • $1600

  • $1600

  • $1600

  • $1600

    Community: Coventry Hills Monthly Rent: $1600.00 Bedrooms: 4 Bathrooms: 2.5 Square Footage: 1100

  • $1600

  • $1600

  • $1600

  • $1600

Calgary saw sales growth of 33 per cent, followed by Vancouver at 19 per cent and Toronto at 13 per cent.

In 2013, 722 homes worth over $1 million were sold in Calgary. Homes over $4 million saw the largest percentage increase, with seven sold last year, compared to two in 2012.

Part of the increase is attributed to a tight inventory of single family homes and the shrinking gap between average house prices and million dollar homes in Canada.

"Rising international immigration and inter-provincial migration along with foreign investment in Alberta’s resource sector has put Calgary in an enviable economic position," says the report.

Calgary has a shortage of supply of luxury homes in 2014, says the report, and forecasts a positive outlook for high-end properties in the city, including the neighbourhoods of Elbow Park & Glencoe and Springbank Hills.

Like this article? Follow our Facebook page

Or follow us on Twitter


Also on HuffPost: