Royal Oak Real Estate Market Summary – November 2024

Market Trends:

• Total Residential Market: The benchmark price reached $620,000, reflecting a 2.8% year-over-year (Y/Y) increase.

• Detached Homes:

  • Sales: 5 transactions (-67% Y/Y)

  • Inventory: 6 homes available (-33% Y/Y)

  • Benchmark Price: $793,300, up 13.8% Y/Y

• Semi-Detached Homes:

  • Sales: 0 transactions

  • Inventory: 3 homes available

  • Benchmark Price: N/A

• Row Homes (Townhouses):

  • Sales: 2 transactions (+100% Y/Y)

  • Inventory: 11 homes available (+100% Y/Y)

  • Benchmark Price: $499,800, up 4.9% Y/Y

• Apartments:

  • Sales: 3 transactions (flat Y/Y)

  • Inventory: 13 units available (flat Y/Y)

  • Benchmark Price: $328,500, up 3% Y/Y

• Market Supply: The months of supply rose to 3.3, indicating a move towards a balanced market.

Community Features

Schools & Education

Royal Oak is home to well-rated schools, making it a family-friendly community:

• Royal Oak School (K-3, public)

• William D. Pratt School (Grades 4-9, public)

• Bearspaw Christian School (K-12, private)

• Tuscany School & St. Basil School are nearby for alternative education options.

LRT Station & Transportation

• Tuscany LRT Station is the closest C-Train station, providing convenient downtown access.

• The Stoney Trail NW ring road ensures quick travel to all parts of Calgary.

• Several bus routes connect Royal Oak to the LRT and surrounding neighborhoods.

Shopping & Amenities

• Royal Oak Centre: Offers grocery stores, banks, cafes, and essential services.

• Creekside Shopping Centre & Beacon Hill Shopping Centre: Located nearby with big-box retailers like Costco, Home Depot, and Walmart.

• Crowfoot Crossing: A short drive away, featuring diverse shopping, dining, and entertainment options.

Recreation & Outdoor Spaces

• Royal Oak Ravine & Pathways: Extensive green spaces with walking trails.

• YMCA at Rocky Ridge: One of Calgary’s largest fitness and recreation centers.

• Nearby Golf Courses: Bearspaw Golf Club and Lynx Ridge Golf Course offer excellent facilities.

Conclusion & Market Outlook

• Price Growth: The market saw steady price increases, particularly for detached and row homes.

• Balanced Market: Higher inventory levels are cooling demand, making it easier for buyers.

• 2025 Forecast: Expect a stable market with moderate price growth, depending on interest rates and economic conditions.