Market Overview
In October 2024, Chaparral's real estate market saw 14 residential sales, a 17% increase year-over-year (Y/Y), signaling sustained buyer interest. New listings also grew 13% Y/Y to 17 properties, increasing inventory by 25% Y/Y to 20 active listings.
The benchmark price for total residential properties was $665,900, up 4.7% Y/Y, reflecting ongoing price growth despite rising inventory.
Market Trends:
Detached Homes
Sales: 10 (↑11% Y/Y)
New Listings: 15 (↑15% Y/Y)
Benchmark Price: $741,400 (↑7% Y/Y)
Months of Supply: 1.70, indicating a balanced market for detached homes.
Semi-Detached Homes
Sales: 0 (No activity)
Benchmark Price: $610,300 (↑9% Y/Y)
The semi-detached market had no sales in October, reflecting low transaction volume in this segment.
Row/Townhomes
Sales: 3
Benchmark Price: $482,200 (↑7% Y/Y)
Townhomes remain an attractive option for affordability, with moderate sales activity.
Apartments
Sales: 1
Benchmark Price: $337,200 (↑5% Y/Y)
Condo sales continue at a slow but steady pace, with prices gradually increasing.
Community Features & Lifestyle
Lake Access & Outdoor Living: Chaparral is known for its lake community, offering private beaches, fishing, boating, and scenic walking paths, making it desirable for families and outdoor enthusiasts.
Schools: The neighborhood offers access to top-rated schools, including Chaparral School (K-6), St. Sebastian Catholic School (K-6), and Centennial High School, attracting families seeking quality education.
Transportation & Accessibility: Easy access to MacLeod Trail, Stoney Trail, and public transit routes makes commuting to downtown Calgary or other areas convenient.
Amenities & Shopping: Chaparral residents enjoy local shopping plazas, restaurants, and services, with nearby options at Shawnessy Shopping Centre and Seton Urban District.
Real Estate Outlook
Balanced Market Expected: Increasing inventory levels may create more buying opportunities, shifting away from extreme seller’s market conditions.
Price Growth to Continue: Benchmark prices have shown steady increases across all property types, suggesting ongoing demand.
Stronger Demand for Detached Homes: This segment remains the most active, and prices are expected to appreciate further.
Affordability & Interest Rates: The real estate market will depend on mortgage rate trends, which may impact sales volume and affordability in early 2025.
Chaparral remains a highly sought-after lake community, with steady home price appreciation and increasing sales activity. With strong amenities, schools, and outdoor living perks, it continues to attract families and professionals alike. While inventory is growing, demand remains strong, positioning the neighborhood for sustained real estate growth into 2025.
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