7 days on Market

396 Rainbow Falls Way, Chestermere, Alberta T1X 1S6

Detached
4 + 1
4 + 1
~2490.00 sqft
$849,900
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Detached
4 + 1
4 + 1
~2490.00 sqft

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Highlights

Property Estimate

Days on market7 days

Estimated valueNot available

Price/Sqft$341/sqft

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Description

Welcome to 396 Rainbow Falls Way, a beautifully maintained two-storey home offering a rare lifestyle opportunity in one of Chestermere’s sought-after canal communities. Set on a large pie-shaped lot with a sunny southwest-facing backyard, this property backs onto the pathway system, canal and green space, creating an exceptional setting for outdoor living, beautiful views and recreation just beyond your back gate. Enjoy canal-side walks, cycling, kayaking or paddleboarding just steps from home. From the moment you arrive, the home impresses with beautiful curb appeal, a covered front porch, Hardie Board siding and a well-maintained exterior. Inside, hardwood flooring welcomes you into an inviting layout. Just off the entry, French doors open to a dedicated main-floor office, ideal for working from home, while a separate main-floor bedroom offers flexibility for guests or family. A convenient two-piece bathroom completes this level. The heart of the home is the beautifully appointed kitchen, featuring quartz countertops, stainless steel appliances, under-cabinet lighting, ample prep space and a large island ideal for casual dining or entertaining. The kitchen flows into the dining area and spacious living room, where soaring open-to-above ceilings and expansive windows bring in natural light while framing the backyard views. A fireplace anchors the living space, making this impressive room equally inviting on quieter evenings. From the dining area, step onto the upper deck and down to the stamped-concrete covered patio, ideal for summer evenings, morning coffee or gatherings with friends. The expansive, private backyard offers room for children to play, gardening or simply soaking up the southwest sunshine, with greenery, pathways and the canal beyond. The deep lot offers space to spread out, while the open landscape behind the property adds to the peaceful, private setting. Upstairs, the primary retreat offers an abundance of space, a walk-in closet and a five-piece ensuite. Two additional generously sized bedrooms are complemented by a four-piece bathroom and separate laundry room with sink, adding convenience to the upper level. The fully finished basement extends the living space with a large recreation room, an additional bedroom, a four-piece bathroom, storage and utility space with plenty of flexibility for movie nights, hobbies or visiting family. In-floor heating adds comfort to the basement and oversized finished garage, both served by a new boiler. Additional highlights include two furnaces and two brand-new front windows. With nearly 2,500 square feet above grade, five bedrooms, a finished basement, an oversized heated garage and a southwest-facing backyard backing onto the canal, green space and pathways, this home offers an outstanding combination of space, comfort and lifestyle. Enjoy a walk or bike ride along the pathways, paddle toward the lake, or unwind in your own private outdoor retreat. 396 Rainbow Falls Way is a special place to call home.


Property Details

Style2 Storey
View-
Age of property2005
SqFt~2490.00 SqFt
Lot Size-
Parking Spaces4
MLS ®NumberA2354273
Community NameRainbow Falls
Data SourcePILLAR 9
Listing byeXp Realty

Features

Heating: Forced Air,Natural Gas
Cooling: Central Air
Basement: Full,Finished,Walk Up

Main Floor

2pc Bathroom

6`0" x 5`0"

Bedroom

9`2" x 9`3"

Dining Room

16`6" x 10`6"

Foyer

8`7" x 10`6"


Features

Patio: Deck,Patio,Porch

Parking

Garage spaces 2

Garage type -

Other parking spaces 2

Total parking spaces 4


Property History

Nov 1, 2026
ListedActive
$849,900
7 days on market
history photo preview44
Listing by pillar 9®
Property listed by eXp Realty, Brokerage
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Market Data - Rainbow Falls

Geo Zone Map ThumbnailRainbow Falls

Strong Seller's Market

View Market Data

Detached house - for the past 30 days

Buyer's market Seller's market

Avg. Days on Market

Past 30 days

39 days

Compared to

2025

50 days

2024

40 days

2023

36 days

New Listings

Past 30 days

6 listings

Compared to

2025

3 listings

2024

2 listings

2023

1 listing

Units sold

Past 30 days

5 units

Compared to

2025

2 units

2024

4 units

2023

4 units

Median Sold Price

Past 30 days

$700,000

Compared to

2025

$702,250

2024

$720,000

2023

$690,000


Population and Demographics

Overview

Total population 1592
Average household income $154,950

Age (%)

0 to 19
32%
20 to 34
15%
35 to 49
29%
50 to 64
16%
65 and plus
9%

Household composition (%)

Single family
83%
Single person
12%
Multi person
4%
Multi family
1%

Mother tongue (%)

English
79%
Punjabi (Panjabi)
6%
Vietnamese
3%
Others
2%
Tagalog (Pilipino, Filipino)
2%
Arabic
2%
Spanish
2%

House tenancy (%)

Owners
90%
Renters
10%

What’s nearby?Essentials within 5 km

Local Logic

Transportation Scores

Estimated Budget