Canyon Meadows Real Estate Market Summary – November 2024

Market Trends

The Canyon Meadows real estate market in November 2024 shows mixed performance across different property types. The key trends are:

• Detached Homes: The benchmark price for detached homes rose to $773,800, marking a 12.8% year-over-year (Y/Y) increase. Inventory increased by 8%, with a months-of-supply ratio of 2.68, indicating a balanced market.

• Semi-Detached Homes: The benchmark price for semi-detached homes reached $468,600, reflecting a 14.3% Y/Y increase. However, with zero inventory available, there were no new sales in November.

• Row/Townhouses: Row homes saw a benchmark price of $363,700, up 5.1% Y/Y. The inventory remained stable at 4 units, with a months-of-supply ratio of 3.33.

• Apartments: The apartment market experienced significant growth, with the benchmark price rising 18.5% Y/Y to $214,600. The months of supply increased to 2.67, indicating strong demand.

Overall, the market in Canyon Meadows remains competitive, particularly for detached and apartment properties​.

Property Sales and Inventory

• Total Sales in November: 9 properties, a 40% decrease compared to the previous year.

• New Listings: 18, representing an 80% increase from November 2023.

• Inventory: 30 active listings, marking a 329% increase year-over-year.

• Days on Market: The average property spent 23 days on the market, showing a quick turnaround time for sales​.

Community Features

Canyon Meadows is a sought-after residential neighborhood in Calgary, offering various amenities and strong community appeal:

• Schools: The area is home to several schools, including Dr. E.P. Scarlett High School, Canyon Meadows School, and Robert Warren School, making it a great option for families.

• Shopping & Dining: Residents have access to Southcentre Mall, which offers a variety of retail stores and dining options. Additional convenience shopping is available along Macleod Trail.

• Transportation: The community is well-connected through the Canyon Meadows LRT Station, providing efficient public transit access to downtown Calgary.

• Parks & Recreation: Canyon Meadows backs onto Fish Creek Provincial Park, offering extensive walking trails, cycling paths, and nature experiences.

Canyon Meadows continues to be a strong market for buyers and sellers alike. While sales have slowed, increasing property values and higher listing activity indicate continued demand. The area remains highly desirable due to its top-rated schools, proximity to Fish Creek Park, excellent shopping options, and strong transit connections.