Springbank Hill Real Estate Market Summary – December 2024

Market Trends

• Total Residential Sales: 6 homes sold (57% decrease Y/Y).

• New Listings: 12 new listings (25% decrease Y/Y).

• Inventory Levels: 34 active listings (48% increase Y/Y).

• Months of Supply: 5.67 months, indicating a shifting market favoring buyers.

• Price Trends:

  • Detached Homes: $1,121,700 (10% Y/Y increase).

  • Semi-Detached Homes: No sales recorded.

  • Row Homes (Townhouses): $506,200 (4.9% Y/Y increase).

  • Apartments (Condos): $381,900 (12.3% Y/Y increase).

  • Total Residential Benchmark Price: $912,900 (4.9% increase Y/Y).

Market Insights

• Sales dropped significantly, suggesting slower buyer activity, possibly due to affordability concerns or seasonal trends.

• Inventory levels continue to rise, shifting the market towards a more balanced or buyer-friendly environment.

• Prices still appreciated, with apartments showing the highest annual growth (12.3%).

2024 Annual Real Estate Summary for Springbank Hill

1. Sales & Market Activity

   • 216 total residential sales in 2024 (13% increase Y/Y).

   • 302 new listings (9% increase Y/Y).

   • Inventory up by 18%, easing past supply constraints.

2. Price Trends

   • Annual Benchmark Price: $906,275 (6.8% Y/Y increase).

   • Median Price: $860,000 (3.7% Y/Y decrease).

   • Average Price: $932,158 (unchanged Y/Y).

3. Key Market Drivers

   • Luxury detached homes remained in demand, driving steady price growth.

   • Rising inventory levels and affordability concerns influenced a shift in buyer behavior.

   • Townhouses and apartments showed strong price appreciation, attracting downsizers and first-time buyers.

School & Community Features in Springbank Hill

Springbank Hill is a prestigious and family-friendly community, known for its top-tier schools and high-end amenities.

Public Schools

1. Griffith Woods School (K-9)

   • Highly rated, offering strong academic programs and STEM-focused education.

2. Ernest Manning High School (10-12)

   • Top-ranked high school with Advanced Placement (AP) and Honours Programs.

Catholic & Private Schools

• St. Joan of Arc School (K-9) – Catholic school with strong academic and faith-based programs.

• Webber Academy (K-12, Private) – One of Calgary’s top-rated private schools, known for academic excellence.

• Rundle College (K-12, Private) – Offers personalized learning and leadership programs.

Community Highlights

• Luxury homes with mountain views and large estate lots.

• Close proximity to Westhills Shopping Centre, Aspen Landing, and boutique retail shops.

• Easy access to Griffith Woods Park, hiking trails, and outdoor recreation.

• Strong community engagement with family-oriented events and activities.

Springbank Hill’s real estate market in 2024 remained strong, but rising inventory and slower sales signal a transition. The luxury market continues to grow, while townhouses and condos offer opportunities for affordability-focused buyers. 2025 will likely see a balanced market, with moderate price appreciation.