Market Trends

1. Detached Homes:

   • The benchmark price for detached homes reached $802,100, reflecting a 15% year-over-year (Y/Y) increase.

   • Sales of detached homes grew by 33% Y/Y, indicating continued strong demand.

   • Inventory for detached homes slightly declined (-17% Y/Y), contributing to a competitive market with limited supply.

2. Semi-Detached Homes:

   • The benchmark price for semi-detached properties was $493,500, also up by 15% Y/Y.

   • Sales remained stable, with demand fueled by affordability compared to detached homes.

   • Inventory remained unchanged, leading to consistent months of supply in this segment.

3. Row/Townhomes:

   • The benchmark price for row homes increased to $342,900, a 6% Y/Y growth.

   • Sales were unchanged compared to the previous year.

   • A 50% increase in inventory suggests more options for buyers, potentially stabilizing price growth.

4. Apartments & Condos:

   • The benchmark price for apartments rose to $211,800, showing a 12% Y/Y increase.

   • Sales for apartments dropped 67% Y/Y, indicating weaker demand or affordability constraints in this segment.

   • Inventory remained unchanged, keeping the months of supply relatively stable.

Overall Market Trends & Key Indicators

• Total Residential Benchmark Price: $534,900, reflecting a 14.3% Y/Y increase, suggesting an overall strong price growth trend.

• Sales Activity: 13 total residential sales, with 0% Y/Y growth, indicating steady demand.

• New Listings: 16 new listings (+14% Y/Y), showing increased seller participation in the market.

• Inventory: 20 available homes (+186% Y/Y), increasing overall supply and balancing the market slightly.

• Months of Supply: 1.54 months (+186% Y/Y), indicating a slight shift toward a more balanced market from previous tight conditions.

2025 Real Estate Outlook for Canyon Meadows

1. Continued Price Growth:

   • Home values are expected to increase modestly, particularly in detached and semi-detached segments, due to ongoing demand and limited supply.

   • Apartments may experience slower price appreciation, given weaker recent sales trends.

2. Higher Inventory & More Balanced Market:

   • Inventory levels are rising, which could ease price pressures and provide more options for buyers.

   • If this trend continues, the market may shift slightly toward a more balanced or buyer-friendly environment.

3. Demand for Affordable Housing:

   • Townhomes and semi-detached properties may see increased interest from buyers looking for cost-effective alternatives to detached homes.

4. Impact of Interest Rates & Economic Conditions:

   • Any changes in interest rates could influence buyer affordability and borrowing power.

   • If rates stabilize or decrease, it could fuel higher market activity, while increases may slow buyer enthusiasm.

Canyon Meadows remains a desirable community, with strong market fundamentals supporting home values. While detached and semi-detached homes continue to be in demand, the market is showing early signs of rebalancing with higher inventory. 2025 is expected to be a year of steady price growth, especially for well-located and well-priced properties.

Market Trends

1. Detached Homes:

   • The benchmark price for detached homes in December 2024 was $794,200, reflecting a 14.7% increase year-over-year (Y/Y).

   • Sales increased by 22% Y/Y, showing continued buyer demand.

   • Inventory declined by 20%, keeping Canyon Meadows in a seller’s market for this segment.

   • Average days on market (DOM) remained steady, indicating balanced transaction activity.

2. Semi-Detached Homes:

   • The benchmark price for semi-detached homes reached $486,100, marking a 14.2% Y/Y increase.

   • Sales remained stable, with only 2 transactions recorded for the month.

   • Active listings were low, maintaining high competition among buyers.

3. Row (Townhomes):

   • Townhomes experienced an 8.4% Y/Y price growth, reaching $340,600.

   • The number of listings increased by 50%, giving buyers more choices.

   • Sales remained consistent, with a steady demand for affordable housing options.

4. Apartments (Condos):

   • The apartment market continued to grow, with prices rising 11.8% Y/Y, reaching $210,700.

   • Sales declined by 65%, suggesting shifting buyer preferences or affordability constraints.

   • Inventory levels remained stable, ensuring a balanced market for condos.

2024 Annual Real Estate Summary

• Overall Market Performance:
  The benchmark price for all property types increased by 8.7% Y/Y, reaching $528,900 by the end of 2024.

  • The detached home market saw the most significant appreciation, driven by limited supply.

  • Row houses and condos remained in demand due to affordability, but sales fluctuated throughout the year.

• Supply & Demand Trends:

  • Inventory remained low throughout 2024, with a consistent seller’s market in most segments.

  • The months of supply metric averaged around 1.5 months, reflecting sustained buyer competition.

• Interest Rates & Buyer Behavior:

  • Higher interest rates slowed luxury sales, but mid-priced homes remained highly competitive.

  • Investors and first-time buyers turned to townhomes and condos, keeping those markets active.

Overall, Canyon Meadows saw a strong year in real estate, with home values appreciating, sales increasing in key segments, and demand outpacing supply in most property types.

Market Trends

The Canyon Meadows real estate market in November 2024 shows mixed performance across different property types. The key trends are:

• Detached Homes: The benchmark price for detached homes rose to $773,800, marking a 12.8% year-over-year (Y/Y) increase. Inventory increased by 8%, with a months-of-supply ratio of 2.68, indicating a balanced market.

• Semi-Detached Homes: The benchmark price for semi-detached homes reached $468,600, reflecting a 14.3% Y/Y increase. However, with zero inventory available, there were no new sales in November.

• Row/Townhouses: Row homes saw a benchmark price of $363,700, up 5.1% Y/Y. The inventory remained stable at 4 units, with a months-of-supply ratio of 3.33.

• Apartments: The apartment market experienced significant growth, with the benchmark price rising 18.5% Y/Y to $214,600. The months of supply increased to 2.67, indicating strong demand.

Overall, the market in Canyon Meadows remains competitive, particularly for detached and apartment properties​.

Property Sales and Inventory

• Total Sales in November: 9 properties, a 40% decrease compared to the previous year.

• New Listings: 18, representing an 80% increase from November 2023.

• Inventory: 30 active listings, marking a 329% increase year-over-year.

• Days on Market: The average property spent 23 days on the market, showing a quick turnaround time for sales​.

Community Features

Canyon Meadows is a sought-after residential neighborhood in Calgary, offering various amenities and strong community appeal:

• Schools: The area is home to several schools, including Dr. E.P. Scarlett High School, Canyon Meadows School, and Robert Warren School, making it a great option for families.

• Shopping & Dining: Residents have access to Southcentre Mall, which offers a variety of retail stores and dining options. Additional convenience shopping is available along Macleod Trail.

• Transportation: The community is well-connected through the Canyon Meadows LRT Station, providing efficient public transit access to downtown Calgary.

• Parks & Recreation: Canyon Meadows backs onto Fish Creek Provincial Park, offering extensive walking trails, cycling paths, and nature experiences.

Canyon Meadows continues to be a strong market for buyers and sellers alike. While sales have slowed, increasing property values and higher listing activity indicate continued demand. The area remains highly desirable due to its top-rated schools, proximity to Fish Creek Park, excellent shopping options, and strong transit connections.

Market Performance

The Canyon Meadows real estate market in October 2024 experienced the following highlights:

• Sales: 15 homes were sold, a decrease of 25% compared to October 2023.

• New Listings: There were 26 new listings, marking a 44% increase year-over-year.

• Inventory: Inventory increased by 33% to 24 homes.

• Months of Supply: The market had 1.60 months of supply, up 33% from the previous year.

• Benchmark Prices:

  • Total residential benchmark price: $520,700, an increase of 5.1% year-over-year.

  • Detached homes: $769,400 (+9.9% YoY).

  • Semi-detached homes: $462,400 (+0.4% YoY).

  • Row homes: $362,700 (+21.9% YoY).

  • Apartments: $217,900 (+9.4% YoY).

The year-over-year growth in prices, especially for row homes and detached properties, indicates strong demand despite the inventory increase​.

Community Features

Canyon Meadows is a well-established community in Calgary known for its lush green spaces and convenient amenities. Key features include:

• Recreational Facilities: Close proximity to Fish Creek Provincial Park, one of the largest urban parks in North America, offering extensive pathways and nature experiences.

• Accessibility: Easy access to Macleod Trail and major transit routes, connecting residents to downtown Calgary and other areas.

• Family-Friendly Environment: A variety of schools, including both public and private institutions, cater to families with children of all ages.

• Community Amenities: The area features local shopping centers, restaurants, and recreational options, contributing to a well-rounded suburban lifestyle.

The real estate activity in Canyon Meadows reflects a balanced market with increasing options for buyers while maintaining strong property value growth.