Market Trends:
Detached Homes: The benchmark price for detached homes in Royal Oak reached $797,500, reflecting a 7.7% year-over-year increase.
Semi-Detached Homes: The data for semi-detached homes was not available.
Row Houses: The benchmark price for row houses was $489,700, an increase of 12.2% from the previous year.
Apartments: The benchmark price for apartments rose to $334,800, reflecting a 3.7% year-over-year increase.
Total Residential Market: The overall benchmark price for residential properties was $622,400, a 3.8% increase from last year.
Sales and Inventory
Total residential sales for October 2024 were 12, an 8% decrease compared to last year.
Inventory levels increased to 31 active listings, marking a 19% increase.
New listings rose to 19, a 19% increase compared to last year.
Months of supply increased to 2.58, indicating a balanced market, though trending towards a buyer’s market.
Community Features
Schools: Royal Oak is home to reputable schools, including Royal Oak School (K-3) and William D. Pratt School (Grades 4-9). Nearby, Robert Thirsk High School serves older students.
Transportation (LRT & Transit): The community is well-connected to public transit, with easy access to the Tuscany CTrain Station, providing a direct link to downtown Calgary.
Shopping & Amenities: Royal Oak residents have convenient access to Royal Oak Centre, featuring grocery stores, retail shops, and dining options. Beacon Hill Shopping Centre is also nearby, offering big-box retailers.
Community & Outdoor Spaces: The area is known for its green spaces, walking trails, and parks, making it attractive for families and outdoor enthusiasts.
The Royal Oak real estate market in October 2024 showed continued price growth across property types, with increased inventory and slower sales indicating a possible shift towards a more balanced or buyer-friendly market in the coming months. The community remains a desirable location due to its strong amenities, schools, and transit options.
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