Market Trends by Property Type

1. Detached Homes

   • Benchmark Price: $751,100 (+1% year-over-year)

   • Sales: 8 (-11% Y/Y)

   • Inventory: 11 (-31% Y/Y)

   • Months of Supply: 2.36

2. Semi-Detached Homes

   • Benchmark Price: $544,600 (+3% Y/Y)

   • Sales: 1 (-67% Y/Y)

   • Inventory: 2 (-50% Y/Y)

   • Months of Supply: 1.00

3. Row Homes

   • Benchmark Price: $404,200 (+1% Y/Y)

   • Sales: 3 (-50% Y/Y)

   • Inventory: 5 (+67% Y/Y)

   • Months of Supply: 2.67

4. Apartments

   • Benchmark Price: $308,600 (+8% Y/Y)

   • Sales: 11 (+38% Y/Y)

   • Inventory: 20 (+300% Y/Y)

   • Months of Supply: 2.04

5. Overall Market Performance

   • Total Residential Benchmark Price: $535,600 (-4.3% Y/Y)

   • Sales: 23 (-12% Y/Y)

   • New Listings: 38 (+36% Y/Y)

   • Inventory: 47 (+194% Y/Y)

   • Months of Supply: 2.04

Schools and Amenities in Panorama Hills

Panorama Hills is well-known for its family-friendly atmosphere, featuring several schools, including:

• Elementary & Middle Schools: Panorama Hills School, Captain Nichola Goddard School

• High Schools: John G. Diefenbaker High School (nearby)

Residents enjoy easy access to parks, pathways, and community facilities like the Panorama Hills Community Centre.

Shopping and Features

• Shopping Centers: Residents benefit from multiple shopping destinations, including Country Hills Town Centre and Creekside Shopping Centre, providing access to grocery stores, restaurants, and retail outlets.

• Recreation: The area features extensive green spaces, playgrounds, and the Vivo for Healthier Generations recreation center.

2025 Real Estate Outlook for Panorama Hills

• Supply and Demand: While prices in most property segments have remained stable or increased, the rise in new listings and inventory could indicate a trend toward a more balanced market.

• Affordability Concerns: The decline in the total residential benchmark price (-4.3%) suggests potential price corrections in 2025, benefiting buyers looking for opportunities.

• Detached Homes and Townhouses: Still experiencing demand but with increasing supply, price growth may slow down.

• Apartment Market: Inventory growth (+300%) could result in softer price appreciation and longer selling times.

Overall, Panorama Hills remains a desirable community with steady real estate activity. However, rising inventory and moderating prices suggest a shifting market where buyers may find better opportunities in 2025.

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Market Trends

• Total Residential Sales: 13 transactions (7% decrease Y/Y).

• New Listings: 10 new listings (17% decrease Y/Y).

• Inventory Levels: 48 active listings (200% increase Y/Y).

• Months of Supply: 3.69 months, indicating a more balanced market.

• Price Trends by Property Type:

  • Detached Homes: $750,900 (7.1% Y/Y increase).

  • Semi-Detached Homes: $542,600 (5.6% Y/Y increase).

  • Row Homes (Townhouses): $408,600 (3.0% Y/Y increase).

  • Apartments (Condos): $310,900 (3.5% Y/Y increase).

  • Total Residential Benchmark Price: $538,800 (16.7% increase Y/Y).

Market Insights

• Sales slowed, possibly due to seasonal effects and affordability challenges.

• Inventory levels increased significantly, giving buyers more options.

• Price growth continued across all property types, with detached homes leading appreciation.

2024 Annual Real Estate Summary for Panorama Hills

1. Sales & Market Activity

   • 368 total residential sales in 2024 (17% decrease Y/Y).

   • 544 new listings (6% increase Y/Y).

   • Inventory up by 61%, indicating a shift toward market balance.

2. Price Trends

   • Annual Benchmark Price: $566,833 (4.0% Y/Y increase).

   • Median Price: $477,000 (12.2% Y/Y increase).

   • Average Price: $529,304 (11.3% Y/Y increase).

3. Key Market Drivers

   • Detached homes remained the most sought-after segment, driving price growth.

   • Affordability concerns led to strong demand for townhouses and condos.

   • Rising inventory provided more choices for buyers, moderating rapid price increases.

Below is a year-over-year (Y/Y) price comparison for different property types in Panorama Hills:

Analysis of Trends Over Time

1. Detached Homes

   • Strongest price growth (+7.1% Y/Y) due to high demand and limited supply.

   • Over two years, prices increased nearly 10%, reflecting a stable upward trend.

2. Semi-Detached Homes

   • Moderate price appreciation (+5.6% Y/Y), driven by buyers looking for affordable alternatives to detached homes.

3. Row Homes (Townhouses)

   • More modest price growth (+3.0% Y/Y), indicating steady but less aggressive demand.

   • Two-year growth of 6.1% suggests consistent but moderate appreciation.

4. Apartments (Condos)

   • Price gains remained stable (+3.5% Y/Y) as demand shifted toward affordability.

   • Over two years, apartment prices increased by only 4.2%, showing a slower recovery compared to other segments.

5. Overall Market Trends

   • The total benchmark price increased by 16.7% Y/Y, indicating strong overall market appreciation.

   • Detached homes continue to lead the market, while affordable housing segments (townhouses & apartments) remain stable options.

The Panorama Hills real estate market in December 2024 saw slower sales but continued price appreciation, with detached homes experiencing the highest demand. Inventory increased significantly, offering more choices to buyers, while townhouses and apartments remained affordable options. Over the past two years, Panorama Hills has experienced steady price growth across all property types, with detached and semi-detached homes showing the strongest appreciation. 2025 is expected to bring a more balanced market, with moderate but sustained price increases.

Market Trends

• Total Residential Sales: 20 transactions (29% decrease Y/Y).

• New Listings: 33 new listings (14% increase Y/Y).

• Inventory Levels: 73 active listings (61% increase Y/Y).

• Months of Supply: 3.65 months, indicating a shift towards a balanced market.

• Price Trends by Property Type:

  • Detached Homes: $764,300 (4.1% Y/Y increase).

  • Semi-Detached Homes: $556,000 (6.2% Y/Y increase).

  • Row Homes (Townhouses): $412,800 (4.0% Y/Y increase).

  • Apartments (Condos): $315,200 (2.5% Y/Y increase).

  • Total Residential Benchmark Price: $550,500 (13.8% Y/Y increase).

Market Insights

• Sales declined, possibly due to seasonal effects and affordability constraints.

• Inventory levels increased significantly, leading to less competition among buyers.

• Prices continued rising, especially for detached and semi-detached homes.

Schools & Education in Panorama Hills

Panorama Hills is a family-oriented neighborhood with access to highly-rated schools.

Public Schools

1. Panorama Hills School (K-4)

   • Strong academic programs with a focus on early childhood education.

2. Captain Nichola Goddard School (5-9)

   • Advanced academic curriculum and leadership development programs.

3. John G. Diefenbaker High School (10-12)

   • Offers International Baccalaureate (IB) and Advanced Placement (AP) programs.

Catholic & Private Schools

• St. Jerome School (K-6, Catholic) – Emphasis on faith-based learning and strong academics.

• Notre Dame High School (10-12, Catholic) – Offers AP programs and career-focused courses.

Shopping Centers & Community Amenities

Panorama Hills offers convenient access to major shopping centers and a variety of amenities:

1. Country Hills Town Centre

   • Grocery stores, restaurants, banking, and essential services.

2. Evanston Towne Centre

   • Boutiques, cafes, and specialty retail stores.

3. Vivo for Healthier Generations

   • A community recreation center with fitness facilities, swimming pools, and child programs.

4. Panorama Hills Community Centre

   • Features parks, pathways, and community-organized events.

The Panorama Hills real estate market in November 2024 saw rising inventory and slower sales, shifting towards balanced conditions. Detached and semi-detached homes continue to experience strong price growth, while townhouses and apartments remain affordable alternatives. The community’s excellent schools and access to shopping centers make it a top choice for families.

Market Overview: In October 2024, Panorama Hills showcased a dynamic real estate market with significant activity across various metrics:

• Sales: 28 properties sold, reflecting a 20% year-over-year (Y/Y) decrease.

• New Listings: 50 new properties listed, marking a 35% Y/Y increase.

• Inventory: 80 units available, a substantial 142% increase Y/Y.

Benchmark Prices by Property Type:

• Detached Homes: $775,100 (+5.7% Y/Y).

• Semi-Detached Homes: $562,200 (+5.9% Y/Y).

• Row Homes: $412,500 (+14.0% Y/Y).

• Apartments: $320,100 (+7.2% Y/Y).

Overall Residential Benchmark Price: $558,900, showing a modest 0.7% increase Y/Y.

Key Market Metrics:

• Months of Supply: 2.86 months, leaning toward a balanced market.

• Sales-to-New-Listings (S/NL) Ratio: 0.56, indicating a steady competition among buyers.

Market Insights:

• The increase in inventory provides more opportunities for buyers to explore available options.

• While sales have slowed slightly, price stability across all property types highlights the neighborhood’s desirability and market resilience.

Community Features: Panorama Hills remains a sought-after neighborhood due to its excellent amenities and family-oriented appeal:

• Recreational Options: Access to green spaces, pathways, and community centers makes Panorama Hills ideal for outdoor enthusiasts.

• Education and Convenience: The area features a variety of schools and is conveniently located near major transportation routes and shopping hubs.

• Community Spirit: The neighborhood fosters a sense of belonging with regular events and initiatives aimed at enhancing resident experiences.

Panorama Hills continues to maintain its status as a preferred destination for families and individuals, combining strong market performance with an outstanding quality of life.

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