The Legacy real estate market in November 2024 experienced a moderate slowdown in sales but continued price appreciation. The benchmark price for total residential properties reached $986,700, reflecting an 8.1% year-over-year (Y/Y) increase.
Key Market Statistics:
Sales: 22 transactions (-12% Y/Y)
New Listings: 26 listings (-19% Y/Y)
Inventory: 57 active listings (+4% Y/Y)
Months of Supply: 2.59 months, indicating balanced market conditions.
Sales-to-New Listings Ratio (S/NL): 0.85, suggesting strong buyer demand.
Median Price: $573,500 (+6.7% Y/Y)
Average Price: $562,203 (+18.2% Y/Y)
Property Type Breakdown:
Detached Homes: $1,043,700 benchmark price (+12% Y/Y)
Row/Townhouses: $426,000 benchmark price (+8.1% Y/Y)
Apartments: $338,100 benchmark price (+5.5% Y/Y)
Semi-Detached: No sales recorded this month.
Market Trends
1. Slower Sales Activity
Sales were down 12% Y/Y, reflecting seasonal cooling and market adjustments.
Fewer new listings, down 19% Y/Y, led to tighter inventory conditions.
2. Steady Price Appreciation
The benchmark price rose by 8.1% Y/Y, highlighting continued demand.
Detached homes saw the largest price increase, exceeding $1 million.
3. Balanced Market Conditions
Months of supply increased to 2.59, suggesting a shift towards a more balanced market.
Despite lower sales, home prices continue to rise, supported by sustained buyer interest.
Community Features
Legacy is a modern, master-planned community in Southeast Calgary, known for its green spaces, family-friendly amenities, and convenient access to services.
Parks & Outdoor Spaces: Legacy boasts over 300 acres of natural reserve, walking trails, and multiple playgrounds.
Shopping & Dining: Home to Legacy Village and close to Seton Urban District, offering retail stores, restaurants, and grocery shops.
Recreation: Proximity to Blue Devil Golf Course, the Bow River pathways, and South Fish Creek Park.
Transportation & Accessibility
Legacy offers convenient transportation options with easy access to major roadways and public transit.
Road Access: Located near Stoney Trail and Macleod Trail, providing quick connections to downtown Calgary.
Public Transit: Calgary Transit bus routes connect Legacy to nearby LRT stations.
Future LRT Expansion: Planned extensions to the Green Line LRT will improve transit access for residents.
Legacy’s real estate market in November 2024 showed strong price growth and a balanced supply, despite a seasonal slowdown in sales. With rising home values, excellent community amenities, and strong connectivity, Legacy remains a highly desirable neighborhood for homebuyers.
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