Usually yes — but it measures something narrower than buyers assume, and it is not the same number the builder or the City used.
Alberta REALTORS® measure residential property to the Residential Measurement Standard set by the Real Estate Council of Alberta, so that a listing in Calgary and a listing three hours away mean the same thing by a given size. It is one of the more useful pieces of consumer protection in Alberta real estate, and most buyers have never heard of it.
Two homes listed at the same size can hand you very different amounts of usable space — one measured to the outside of its walls, one with a fully developed lower level the number never mentions.