Varsity's real estate market in Q1 2025 showed moderate activity and continued strength in pricing, especially for detached homes:

• Sales: 41 homes sold (-12.8% YoY)

• New Listings: 72 (+7.5% YoY)

• Sales-to-New-Listings (SNL) Ratio: 56.94% – a balanced market leaning slightly toward buyers

• Average Days on Market: 35 days (+37% YoY)

• Average Inventory: 31 units (+53.3% YoY)

• Months of Supply: 2.24 – up significantly, signaling softening demand compared to last year

• Benchmark Price (Total Residential): $563,033 (-0.7% YoY)

🏘 Property Type Breakdown

🏠 Detached Homes

• Sales: 14 (down 17.6% YoY)

• Benchmark Price: $922,633 (+3.2% YoY)

• Average Price: $1,033,736 (+4.8% YoY)

• Median Price: $943,500

• Months of Supply: 1.71

• Despite fewer sales, detached homes saw notable price appreciation, confirming Varsity’s continued appeal among higher-end buyers.

🏢 Apartments

• Benchmark Price: $277,300 (-0.17% YoY)

• Average Price: $289,500 (+8.4% YoY)

• This segment makes up 41% of total sales and offers affordability and convenience. Increased average prices show continued investor and first-time buyer interest.

🏘 Row Homes

• Benchmark Price: $532,567 (+10.74% YoY)

• Average Price: $595,100

• Row homes remain a smaller segment (23% of listings) but with strong Y/Y gains, indicating rising demand for this mid-tier housing option.

🏚 Semi-Detached Homes

• No sales recorded in Q1 2025, continuing a trend of limited activity in this niche property type.

📈 Pricing Overview

• Benchmark Price Growth (All Residential): Up modestly by 0.7% YoY

• Average Price Growth: $641,359 (+9.5% YoY) – driven largely by detached homes and high-end row housing

• Price Range Activity: Majority of sales occurred in the $400K–$699K range, with detached sales stretching beyond $1M+

🏫 Varsity Community Highlights

🎓 University Proximity Drives Demand

Varsity’s ongoing popularity is bolstered by its adjacency to the University of Calgary and Market Mall, attracting students, faculty, and healthcare workers affiliated with the nearby Foothills Medical Centre.

🏫 School District Updates

• Varsity Acres School (French immersion) implemented a new "Literacy Through Leadership" program, which has gained attention city-wide and may drive more young family interest to the area.

• F.E. Osborne School launched after-school robotics and science clubs, helping maintain Varsity’s reputation for academic excellence.

🌳 Community Events & Improvements

• The Varsity Community Association organized the Winter Wellness Walks in January, promoting outdoor activity along Bowmont Park trails.

• Planning is underway for a community garden expansion project near the community hall, further enhancing neighborhood livability.

🔑 Key Takeaways

• Varsity remains a premium NW community, with high average home values and enduring appeal for professionals and families.

• Detached homes and row housing are driving price growth, while apartment sales offer more affordability.

• Though sales volume has eased slightly, price stability and community amenities continue to attract discerning buyers.

• Varsity’s school strength, green space, and proximity to major institutions keep it a top-tier neighborhood in Calgary.

Market Overview

The Varsity real estate market in January 2025 experienced a moderate slowdown, with total residential sales down 14% year-over-year, totaling 12 sales for the month. Inventory increased by 47% compared to the same time last year, bringing months of supply up to 1.83 months. Despite these shifts, benchmark home prices remained relatively stable at $555,900, reflecting a slight 0.1% decrease year-over-year.

Market Trends by Property Type

• Detached Homes: The benchmark price for detached homes stood at $910,400, reflecting a 4% increase year-over-year. However, sales were down significantly by 67%, with only one detached home sold. Inventory remained relatively low at six active listings.

• Semi-Detached Homes: There were no sales recorded for semi-detached homes in January 2025, and no active inventory, indicating minimal activity in this segment.

• Row/Townhouses: Row home prices remained steady at $521,100, marking a 12% increase year-over-year. Sales remained flat, with four transactions recorded, while inventory dropped by 60%, indicating stronger demand for this property type.

• Apartments: The benchmark price for apartments was $272,100, reflecting a 2% increase from the previous year. Sales were stable at seven units, while inventory grew by 57% to 13 active listings.

2025 Real Estate Outlook

• Moderate Growth in Prices: Despite a slow start in sales, prices are expected to remain stable or increase slightly, driven by limited supply and strong demand for affordable housing options like row homes and apartments.

• Inventory Rebalancing: With inventory levels rising, buyers may have more negotiating power in some segments, particularly for higher-priced detached homes.

• Continued Demand for Affordable Housing: With row homes and apartments maintaining steady price growth, this segment is likely to see continued interest from first-time homebuyers and investors.

• Economic and Interest Rate Impacts: The real estate market's performance in 2025 will depend on broader economic conditions, interest rate movements, and employment stability.

Overall, the Varsity real estate market is showing resilience despite slowing sales. Buyers may find more options available, while sellers in the higher-end detached home market may need to adjust pricing expectations to match demand.

Market Overview

The Varsity real estate market in December 2024 saw strong year-over-year growth in sales, with 13 total transactions, marking a 117% increase compared to December 2023. However, new listings declined by 30%, resulting in lower inventory levels. This led to an increase in months of supply to 1.62, indicating a slight shift towards a more balanced market.

The benchmark price for total residential properties was $544,600, reflecting a 3.6% decline year-over-year.

Market Trends by Property Type

• Detached Homes: The benchmark price for detached homes stood at $882,400, down 4% year-over-year. Sales increased by 100%, but inventory remained low, which may continue to put upward pressure on prices in the coming months.

• Semi-Detached Homes: There were no recorded sales of semi-detached homes in December 2024, indicating limited activity in this segment.

• Row/Townhouses: Row homes had one sale, with a benchmark price of $501,200, reflecting a 5.6% year-over-year increase.

• Apartments: Apartment sales saw a significant increase of 200%, with six units sold. The benchmark price for apartments reached $273,800, up 0.4% year-over-year.

2024 Annual Market Summary

The Varsity real estate market in 2024 showed moderate growth, with total annual sales reaching 266 transactions, a 7% increase from 2023. New listings rose by 22%, bringing more inventory into the market.

• The benchmark price for total residential properties increased by 5.1%, reaching $572,400.

• Detached homes saw a moderate decline in price but continued to be in demand, especially in higher price segments.

• Row homes and apartments remained popular among buyers, with steady price appreciation and increased transactions.

In November 2024, the Varsity real estate market experienced strong sales growth, with 22 total residential sales, a 57% increase year-over-year. However, new listings declined by 60%, reducing available inventory. This led to a months of supply increase to 1.73, indicating a more balanced market than previous months.

The benchmark price for total residential properties stood at $561,600, reflecting a 1.0% annual increase.

Market Trends

• Detached Homes: The benchmark price for detached homes was $913,000, with seven sales recorded, a 17% year-over-year increase. Inventory remained stable at eight listings, while months of supply remained tight.

• Semi-Detached Homes: One semi-detached home sold in November, with no active inventory reported.

• Row/Townhouses: The benchmark price for row homes reached $515,500, reflecting a 6.5% annual increase. Five sales were recorded, a 150% increase from the previous year, highlighting strong demand for this property type.

• Apartments: Apartment sales grew by 50% year-over-year, with nine transactions recorded. The benchmark price for apartments reached $282,400, a 1.0% increase.

Community Features & Transportation

Varsity remains one of the most sought-after communities in Calgary due to its proximity to key amenities:

• Schools: Varsity is home to top-ranked schools, including Marion Carson School, F.E. Osborne School, and Sir Winston Churchill High School, making it a preferred choice for families.

• LRT Access & Transportation: The community is well-served by Brentwood LRT Station, providing convenient access to downtown Calgary and the University of Calgary. Public transit is widely available, and major roads such as Crowchild Trail and Shaganappi Trail offer easy commuting options.

• Shopping & Recreation: Varsity is close to Market Mall, Northland Shopping Centre, and the University District, offering diverse shopping, dining, and entertainment options. Outdoor enthusiasts enjoy Bowmont Park and the Silver Springs Golf Course.

• Health & Wellness: The Alberta Children's Hospital and Foothills Medical Centre are nearby, making Varsity a prime location for healthcare professionals and families.

In October 2024, Varsity recorded 28 residential sales, an 87% increase year-over-year, reflecting strong market activity. New listings totaled 41 properties, up 95% from October 2023, with a sales-to-new-listings ratio of 68%, indicating a competitive market. Inventory rose to 49 homes, a 96% increase year-over-year, leading to 1.75 months of supply, suggesting a market favoring sellers.

Pricing Trends:

The benchmark price for all residential property types in Varsity was $567,500, a 3.1% increase year-over-year. Detached homes had the highest benchmark price at $915,200, while row homes and apartments were priced at $515,300 and $289,600, respectively. Semi-detached homes saw no new sales this month.

Community Features:

Varsity remains one of Calgary’s most sought-after neighborhoods due to its appealing blend of amenities and location advantages:

• Proximity to University of Calgary: Popular among families and students.

• Abundance of Green Spaces: Parks, walking trails, and recreational areas add to its charm.

• Access to Shopping and Dining: Located near Market Mall and other shopping centers.

• Transport Links: Excellent connectivity via major roads and public transit.

• Highly Rated Schools: A preferred choice for families with school-aged children.

The market dynamics and community features make Varsity a prime area for homebuyers and investors seeking stability and growth.

Wheel Chair accessible, 1 Block from C-Train Station and shopping, Walking distance to University of Calgary! This 2 bedroom bungalow style unit in the highly sought after McLaurin Village has been modeled to allow for wheel chair access through out with a lowered kitchen, A no tub shower system and bedroom counter and sink. The west facing front door and patio allow for lots of natural light and plenty of evening sun, peering through green trees and park like atmosphere. Great layout with some TLC required. Very close parking stall with extra room for wheel chair loading space.

Very well maintained renovated 5 bedroom, 2.5 bath home in popular Varsity Acres, within walking distance to a great dog park. The main floor features refinished hardwood floors, and new ceramic tile. The kitchen has been completely custom renovated, with lots of cupboard space, raised kitchen breakfast bar, tile backsplash, convection oven, quiet bosch dishwasher, and toe kick for the central vacuum system. The main floor 4 piece bath has also been renovated, including granite counters. The basement offers very functional space with 7 foot, 6 inch knock down ceilings with pot lights, 2 bedrooms with newer windows, built in cabinet storage system, and additional full bath. All of the windows have been done, as has the high quality torch-on roof, fascia, soffits, and eaves troughs. Out back enjoy the resurfaced South facing deck, gas line for the BBQ, large yard, cedar fencing, and RV parking. The home also features custom pleated window coverings. Call today for your private viewing!