Calgary Real Estate Market Report – Copperfield October 2024

Overview: Copperfield in SE Calgary displayed a balanced real estate market in October 2024, with consistent demand and price growth, making it appealing for buyers and investors alike. The area, known for its family-friendly vibe, amenities, and green spaces, continued to attract steady interest despite seasonal cooling.

Market Activity:

• Sales: Total residential sales were recorded at 26 properties, marking a 30% decline year-over-year, likely influenced by increased inventory and a typical seasonal slowdown.

• New Listings: A total of 43 new listings were added in October, reflecting a 23% year-over-year increase, giving buyers more options and pushing inventory levels higher.

• Months of Supply: Copperfield saw a months-of-supply level at 1.73, up significantly by 96% from last year, indicating a shift toward a more balanced market.

• Average days on the market: 22 days

Price Trends:

• Detached Homes: 10 SOLD, $499,988 - $868,500. The benchmark price for detached homes reached $647,800, up by 8% year-over-year, indicating strong demand for single-family residences. Average days on the market was 12 days.

• Semi-Detached and Row Homes: 7 SOLD, $423,500 - $473,000. Semi-detached data was not reported; however, row homes averaged $446,800, showing an 8% annual increase. Average days on the market was 34 days.

• Apartments: 9 SOLD, $230,000 - $354,900. The benchmark price for apartments rose to $356,300, a 5.4% increase from last year, reflecting a stable demand for more affordable housing options. Average days on the market was 23 days.

• Overall Residential: The total residential benchmark price in Copperfield was $529,000, up by 5.4% year-over-year, showcasing steady market appreciation across all segments.

Buyer and Seller Dynamics:

• Buyers: With a moderate inventory increase and stable prices, buyers have an expanded selection, though popular detached homes are still highly sought after.

• Sellers: Well-maintained properties, especially detached homes, continue to be in demand. Sellers are encouraged to price competitively to attract the season’s remaining buyer interest.

Conclusion: The Copperfield market in October 2024 displayed resilience, with positive price trends across housing types despite a seasonal sales dip. As we move further into the fall and winter months, the increased inventory and stable pricing provide balanced opportunities for both buyers and sellers​.