Market Trends
The Cranston real estate market in December 2024 experienced steady growth across all property types. Key highlights include:
Detached Homes: The benchmark price reached $757,700, reflecting a 6.8% year-over-year (Y/Y) increase.
Semi-Detached Homes: The benchmark price rose to $519,400, marking a 10.7% Y/Y increase.
Row/Townhouses: Prices for row homes increased to $459,900, up 6.2% Y/Y.
Apartments: The benchmark price for apartments climbed 7.2% Y/Y, reaching $361,900.
Inventory & Sales:
Total Residential Sales: 25 sales, up 56% from December 2023.
New Listings: 18 new listings, representing a 38% increase Y/Y.
Active Inventory: 31 active listings, up 50% Y/Y.
Months of Supply: 1.24, indicating a seller's market with strong demand.
2024 Annual Market Summary
The year 2024 was marked by a 7.5% increase in overall residential prices, with a total of 510 sales, reflecting a 4% decline compared to 2023. Other key metrics include:
New Listings: 638, a 3% increase from 2023.
Inventory: 47 active listings on average, down 8% from the previous year.
Median Price: Increased 7.8% Y/Y to $587,500.
Average Price: Rose 6.7% Y/Y to $629,375.
Cranston remained a strong market in 2024, with steady price growth and a seller-favored environment due to low months of supply and strong demand.
Community Features
Schools
Cranston offers access to quality educational institutions, including:
Cranston School (Public)
Dr. George Stanley School (Middle School)
Christ the King School (Catholic)
Joane Cardinal-Schubert High School (Nearby)
Transportation
Highway Access: Convenient access to Deerfoot Trail & Stoney Trail, making commuting easy.
Public Transit: Calgary Transit routes connect residents to the Seton YMCA, South Health Campus, and LRT stations.
Shopping & Amenities
Seton Urban District: Includes grocery stores, restaurants, and entertainment.
Cranston Market: Offers everyday essentials, banking, and dining options.
South Health Campus: Provides top-tier healthcare facilities.
Parks & Recreation
Bow River Pathways: Walking and biking trails with scenic views.
Fish Creek Park: One of Calgary’s largest natural parks, adjacent to Cranston.
Cranston Residents’ Association: Offers community programs, an ice rink, and sports facilities.
Cranston continued to be a desirable residential area in 2024, with strong price appreciation, low inventory, and high demand. Families and professionals benefit from excellent schools, nearby amenities, and great connectivity. As we enter 2025, the market is expected to remain competitive, particularly in the detached and semi-detached segments.
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