Just Sold: Rainbow Falls Home Prices
Browse newly sold homes in Rainbow Falls. View today's MLS® sold listings and homes sold in the last 30 days.
Homes sold in the last 30 days
2
Typical sale price
$422,000
Average time to sell
28 days
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Rainbow Falls Sold Data Overview
Over the past 2 years, 128 homes have sold in Rainbow Falls, Chestermere, with a median sold price of $633K. Sale prices have ranged from $355K to $1.09M. The typical home sells in 24 days, showing a balanced market. Homes are selling at 98.8% of their list price — very close to asking price. Median property taxes in the area run approximately $3,062 annually. The most common property types sold include Detached Single Family (64), Townhouse (51), Half Duplex (13).
Recently Sold in Rainbow Falls
2 homes sold in the last 30 days. Showing 2 of 2 • Updated April 10, 2026 at 8:19 PM
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What's Happening in Rainbow Falls Real Estate
See how the market is performing — prices, how fast homes are selling, and whether buyers or sellers have the advantage.
$632,500
Avg: $612,958
Range: $355,000 – $1,086,000
98.8%
Homes selling near asking
27 days
$331
128 homes sold
Click a property type to view its trends in the chart below:
All Property Types
(click to filter chart)2-Year Market Trends: All Property Types
(25 months)Negotiation & Cost Insights
Sold Above Asking
13%
77% sold below
Median Property Tax
$3,062/yr
Avg: $2,988
Home Size Range
1,088 – 3,377
sq ft
Price Spread
±$179,592
standard deviation
128
Homes sold (last 2 years)
37
Currently for sale
18.5
Months of Inventory (MOI)
5.4%
Absorption Rate (30d)
12
New in April 2026
2 vs 3
Sold count (last 30 vs prior 30): -33.3%
Median price: $422,000 vs $694,650 (-39.2%)
How does Rainbow Falls compare to Chestermere?
Rainbow Falls typical sale price
$422,000
2 sold in last 30 days
Chestermere typical sale price
$635,000
62 sold in last 30 days
Neighbourhood Guide: Rainbow Falls, Chestermere
Neighbourhood Overview
Rainbow Falls is a picturesque, family-friendly neighbourhood located in the southwest corner of Chestermere. Designed around a series of man-made creeks, a large pond, and its namesake cascading waterfalls, the community offers a tranquil, nature-integrated suburban environment. With easy access to Chestermere Lake and a commute of just 30 minutes to Downtown Calgary, it is highly sought after by families and professionals seeking a relaxed lakeside lifestyle. The local market moves at a steady pace, with homes typically spending 27 days on the market.
Location
Situated in southwestern Chestermere, Rainbow Falls is bordered by the Western Irrigation District canal, West Creek, and Chesterview Estates. It is conveniently positioned near major regional routes like the Trans-Canada Highway and 17th Avenue SE, making the drive into Calgary straightforward. Residents are also just a short walk or drive from the southwestern shores of Chestermere Lake.
Housing Character
The neighbourhood predominantly features single-family detached homes, alongside a selection of townhouses and duplexes. Most properties were built during a development boom between the early 2000s and 2010. Rainbow Falls is known for its spacious lots, mature landscaping, and properties backing onto ponds, canals, or greenbelts. It operates as a mid-range market, where the median sold price is $632,500 and properties often trade near asking price, reflecting a sale-to-list ratio of 98.8%.
Schools & Education
Rainbow Falls is well-equipped for families, featuring two elementary schools located right within the neighbourhood: Rainbow Creek Elementary School (Public) and Our Lady of Wisdom School (Catholic). Older students are a short distance from Chestermere Lake Middle School, while high school students typically attend Chestermere High School or St. Gabriel the Archangel.
Transit & Access
While Chestermere is largely car-dependent, Rainbow Falls benefits from the Chestermere Transit Link, which is an extension of Calgary Transit's MAX Purple line. This bus service operates during morning and evening peak hours, providing local stops—such as the one at Rainbow Falls Drive and West Creek Drive—that connect commuters directly to Calgary's broader transit network.
Shopping & Dining
Residents enjoy convenient access to local day-to-day amenities along Rainbow Road, including a No Frills grocery store, pharmacies, convenience stores, and local dining spots like North Indian Spice House and Plaka Greek Taverna. For a wider selection of retail, the Chestermere Station shopping centre is just a few minutes away, offering major grocers, banks, and popular chain restaurants.
Parks & Recreation
Outdoor recreation is a major draw for the community. At the heart of the neighbourhood is Rainbow Falls Park, featuring scenic waterfalls, picturesque bridges, and a prominent community pond. An extensive network of paved walking and biking pathways connects the area to the Western Headworks Canal Pathway. The nearby Chestermere Family Bike Park offers pump tracks and progressive trails, while Chestermere Lake provides ample opportunities for swimming, boating, and winter ice skating.
Lifestyle & Community
The lifestyle in Rainbow Falls is laid-back, active, and family-oriented. Residents spend their weekends exploring local walking trails, birdwatching by the water features, or enjoying water sports at nearby Chestermere Lake. With a close-knit community vibe, abundant green spaces, and everyday conveniences close at hand, it perfectly balances a peaceful retreat with the active outdoor culture typical of a lakeside town.
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Frequently Asked Questions
Website provided by Kelly Grant
Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS® System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
Mortgage values are calculated by hômm and are provided for estimate purposes only.
The hômm Estimate is calculated by instantestimate.house and is provided as a general estimate only.
Trademarks are owned or controlled by the Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA (REALTOR®, REALTORS®) and/or the quality of services they provide (MLS®, Multiple Listing Service®).
Listing information last updated on April 11, 2026 at 10:00 pm (America/Edmonton)
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