Millrise kicked off 2025 with a balanced yet active real estate performance:

• Total Sales: 30 homes sold (-3.2% YoY)

• New Listings: 37 listings (+12.1% YoY)

• Sales-to-New-Listings Ratio (SNL): 81.08%, indicating strong demand relative to supply.

• Average Days on Market (DOM): 29 days, up 124.5% from Q1 2024.

• Average Inventory: 13 units (+143.8% YoY)

• Months of Supply: 1.30, keeping Millrise in a seller-favored market.

🏡 Market Trends

🏠 Detached Homes

• Sales: 17 (up 30.8% YoY)

• Benchmark Price: $605,233 (+10.78% YoY)

• Average Price: $630,753

• Median Price: $642,500

• Detached homes continue to dominate the market in value and demand. Most sales occurred in the $600K–$700K range, with limited inventory keeping prices strong.

🏘 Row Homes

• Benchmark Price: $398,900 (+5.75% YoY)

• Average Price: $440,000

• Median Price: $461,667

• Row homes are seeing renewed buyer interest from young families and downsizers, especially given their relative affordability and access to green space.

🏢 Apartments

• Benchmark Price: $331,033 (-1.9% YoY)

• Average Price: $285,000

• Median Price: $274,700

• The apartment market cooled slightly this quarter, with minor price declines, likely due to increased supply and slower absorption. Still, this remains a key entry point for first-time buyers.

🏚 Semi-Detached Homes

• Benchmark Price: $546,267

• Limited sales this quarter, but when available, semis tend to attract steady interest thanks to their mid-range pricing and family-friendly layouts.

💰 Price Growth Summary

• Total Residential Benchmark Price: $465,933 (+6.7% YoY)

• Average Price: $507,337 (+13.1% YoY)

• The price trajectory continues upward, especially for detached homes, while apartment and row segments remain more accessible.

🏫 Millrise Community Highlights

• Our Lady of Peace School hosted a STEM Innovation Fair in February, showcasing student projects and tech-based learning initiatives. This drew attention from local families and contributed to Millrise’s growing appeal among young households.

• Millrise Pre-K Program at the community center saw record enrollment for Spring 2025, reflecting a demographic shift toward younger families moving into the neighborhood.

🎉 Community Events

• The Millrise Winter Lights Festival returned in January, drawing over 1,000 residents for an evening of food trucks, firepits, and music. Events like this highlight the strong community spirit that makes Millrise attractive to buyers.

• Community-led Neighbourhood Clean-Up Day was announced for late March, reflecting civic pride and increasing homebuyer confidence in the area’s upkeep and desirability.

🔑 Key Insights

• Millrise remains a strong seller’s market, especially for detached homes and mid-range row houses.

• The benchmark price trend remains upward, albeit moderately, with inventory slightly expanding.

• Apartments offer affordability but face a slower sales pace.

• Community vibrancy, strong school engagement, and proximity to LRT and parks are key factors fueling Millrise’s steady real estate appeal.

Market Trends by Property Type

1. Detached Homes

   • Sales: 5 homes sold (unchanged from last year).

   • Inventory: 8 homes available (up 60% year-over-year).

   • Benchmark Price: $593,200 (16% increase year-over-year).

2. Semi-Detached Homes

   • Sales: 0 homes sold (down 100% year-over-year).

   • Inventory: 0 homes available (100% decrease).

   • Benchmark Price: $553,300 (11% increase year-over-year).

3. Row/Townhouses

   • Sales: 1 home sold (N/A compared to last year).

   • Inventory: 0 homes available (100% decrease).

   • Benchmark Price: $403,700 (9% increase year-over-year).

4. Apartments

   • Sales: 4 units sold (up 300% year-over-year).

   • Inventory: 3 units available (down 40% year-over-year).

   • Benchmark Price: $328,600 (7% increase year-over-year).

Overall Market Performance

• Total Sales: 10 (up 43% year-over-year).

• New Listings: 11 (down 8% year-over-year).

• Total Inventory: 9 properties (up 29% year-over-year).

• Benchmark Price (All Property Types): $461,100 (10.1% increase year-over-year).

• Months of Supply: 0.90 months (indicating a seller’s market).

2025 Real Estate Outlook for Millrise

• Continued Price Growth: Benchmark prices have been rising across all property types, suggesting strong demand despite increasing inventory levels.

• Shift in Demand: Apartments are seeing significant growth in sales, likely due to affordability concerns as detached and semi-detached home prices increase.

• Tight Market Conditions: With less than one month of supply, Millrise remains a seller’s market, but rising inventory could gradually balance conditions.

• Potential Interest Rate Impact: If interest rates stabilize or decline, more buyers may enter the market, further supporting price increases and higher sales volume.

Overall, Millrise’s real estate market is poised for continued appreciation in 2025, with strong demand for apartments and detached homes driving market activity. Buyers should act quickly in this competitive landscape, while sellers may see favorable conditions persist.

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Market Trends

1. Detached Homes

   • Sales: 2 homes sold (unchanged from last year).

   • Inventory: 3 homes available (down 50% year-over-year).

   • Benchmark Price: $583,800 (9% increase year-over-year).

2. Semi-Detached Homes

   • Sales: 0 homes sold (100% decrease year-over-year).

   • Inventory: 0 homes available (unchanged).

   • Benchmark Price: $547,000 (14% increase year-over-year).

3. Row/Townhouses

   • Sales: 1 home sold (unchanged from last year).

   • Inventory: 0 homes available (unchanged).

   • Benchmark Price: $407,300 (12% increase year-over-year).

4. Apartments

   • Sales: 0 units sold (100% decrease year-over-year).

   • Inventory: 5 units available (down 75% year-over-year).

   • Benchmark Price: $342,100 (8% increase year-over-year).

Overall Market Performance for December 2024

• Total Sales: 3 (down 70% year-over-year).

• New Listings: 2 (down 67% year-over-year).

• Total Inventory: 9 properties (up 350% year-over-year).

• Benchmark Price (All Property Types): $462,400 (9.2% increase year-over-year).

• Months of Supply: 3.00 months (shift towards a balanced market).

2024 Annual Real Estate Summary

• Total Sales in 2024: 125 homes sold (26% decrease from 2023).

• Total New Listings: 148 (20% decrease year-over-year).

• Total Inventory: Increased by 39% throughout the year.

• Overall Benchmark Price: $459,325 (12.1% increase year-over-year).

• Average Days on Market: 17 days.

Key Market Trends in 2024

• Price Growth Despite Lower Sales: Benchmark prices rose across all property types, indicating strong demand despite declining sales volume.

• Shift Towards a More Balanced Market: Increased inventory and slower sales reduced the intense seller’s market conditions seen in previous years.

• Apartment Market Fluctuations: Apartment prices grew steadily, but sales volume varied significantly month to month.

• Rising Interest Rates Affecting Buyer Activity: Higher borrowing costs likely contributed to reduced sales, as buyers became more cautious.

Market Trends:

1. Detached Homes

   • Sales: 3 homes sold (down 25% year-over-year).

   • Inventory: 4 homes available (unchanged year-over-year).

   • Benchmark Price: $590,200 (10% increase year-over-year).

2. Semi-Detached Homes

   • Sales: 0 homes sold (100% decrease year-over-year).

   • Inventory: 0 homes available (unchanged).

   • Benchmark Price: $552,300 (11% increase year-over-year).

3. Row/Townhouses

   • Sales: 1 home sold (67% decrease year-over-year).

   • Inventory: 2 homes available (down 33% year-over-year).

   • Benchmark Price: $404,000 (12% increase year-over-year).

4. Apartments

   • Sales: 1 unit sold (down 80% year-over-year).

   • Inventory: 5 units available (unchanged year-over-year).

   • Benchmark Price: $339,600 (9.6% increase year-over-year).

Overall Market Performance

• Total Sales: 5 homes sold (down 58% year-over-year).

• New Listings: 9 (down 25% year-over-year).

• Total Inventory: 10 properties (up 67% year-over-year).

• Benchmark Price (All Property Types): $464,100 (9.6% increase year-over-year).

• Months of Supply: 2.00 months (trending toward a balanced market).

Community Features in Millrise

• Schools:
  Millrise is well-served by Our Lady of Peace School and Fish Creek School, offering both Catholic and public education options. Nearby high schools include Centennial High School and Dr. E.P. Scarlett High School.

• Transportation:
  The community has easy access to MacLeod Trail and Stoney Trail, making commuting convenient. Millrise LRT Station provides quick access to downtown Calgary.

• Shopping & Amenities:

  • Millrise Plaza offers grocery stores, restaurants, and local businesses.

  • Shawnessy Shopping Centre is nearby, featuring major retailers like Walmart, Canadian Tire, and Best Buy.

  • Southcentre Mall, a short drive away, offers a more extensive selection of shopping options.

• Recreation & Parks:

  • Fish Creek Provincial Park is just minutes away, providing walking trails, picnic areas, and nature experiences.

  • Millrise Community Association organizes local events and recreational programs.

  • Nearby Shawnessy YMCA and Cardel Rec South offer fitness facilities, swimming pools, and community activities.

Market Outlook for Millrise

• Continued Price Growth: Prices are rising across all property types, reflecting ongoing demand.

• Balanced Market Conditions: Increasing inventory and slowing sales suggest the market may shift away from a seller’s market.

• Stronger Demand for Affordable Housing: Apartments and townhouses remain attractive to buyers due to their relative affordability compared to detached homes.

• Impact of Interest Rates: If mortgage rates stabilize or decline, buyer activity may increase, supporting further price appreciation.

Millrise continues to be a desirable neighborhood due to its strong community amenities, transit options, and proximity to schools and shopping. While sales volume has slowed, prices remain on an upward trend, signaling a steady real estate market.

Market Trends:

• Detached Homes

  • Sales: 5 (same as September, no Y/Y change)

  • Inventory: 4 units (-56% Y/Y, down from 8 in September)

  • Benchmark Price: $586,500 (+7.7% Y/Y, +0.4% from September)

  • Months of Supply: 0.83, similar to September, indicating continued seller’s advantage

• Semi-Detached Homes

  • No sales in October (same as September)

  • Inventory remained at 0 units

  • Benchmark Price: $554,100, up 18.4% Y/Y, but slightly lower than September's $560,000

• Row Homes

  • No sales in October (compared to 1 sale in September)

  • Inventory: 1 unit, stable

  • Benchmark Price: $409,700 (+9.9% Y/Y, compared to $412,000 in September)

• Apartments

  • Sales: 7 (+75% Y/Y, compared to 4 in September)

  • Inventory: 2 units (-33% Y/Y, stable from September)

  • Benchmark Price: $348,400, up 10.5% Y/Y, slightly up from $347,000 in September

Overall Market Comparison

Market Insights

• Sales remained strong but dipped slightly from September, reflecting seasonal adjustments.

• New listings dropped sharply (-56%), tightening supply and fueling price stability.

• Prices held steady or increased slightly across all property types, indicating continued demand.

• Low months of supply (0.83) highlights a strong seller’s market.

Community Features & Outlook

Millrise remains a highly desirable neighborhood due to its proximity to transit, parks, and amenities. With supply tightening, prices are expected to hold steady or increase in the coming months.

Compared to previous months, October 2024 saw a decrease in new listings and stable pricing, keeping competition high for buyers. Expect continued seller advantages as we move into the winter months.

2013 ROOF, 2014 FURNACE & HOT WATER TANK. Nice and clean 2 storey with double detached garage, 3 bedroom home located in a quiet street close to schools, shopping and transit. Very spacious interior and nice layout with family room, living room, dining room, kitchen and a half bath on main floor. Features include laminate flooring with neutral decor, some vinyl windows and newer fridge and stove. Spacious kitchen with eating area overlooking family room with a cozy WOOD BURNING FIRE PLACE. Also there is a side door as well as a sliding patio door on the main floor. Upper level includes the master bedroom with walk in closet plus 2 more good sized bedrooms and a 4pc bath. INVESTOR & FIRST TIME HOME buyer alert!

TOP FLOOR! SOUTH BALCONY! BEST VALUE IN MILLRISE!! Welcome to this lovely 2-bedroom, 2-bath condo ideally located in this well-kept and well-managed complex with low condo fees ($348/month incl. electricity, heat, water/sewer). It's also the best-priced 2-bedroom condo in all of Millrise, making it tough to beat! Gorgeous laminate flooring throughout. Large, central living and dining area, nicely laid out for comfortable living. Cozy corner gas fireplace. Sliding patio doors to spacious south-facing balcony with glass railing. Galley kitchen with white cabinetry and pass-through to dining area, easily renovated to a more open plan if desired. Well-designed floorplan, ideal for shared living with bedrooms separated by living area. Large master with walk-through closet and private 3-piece ensuite. Good-sized second bedroom with adjacent 4-piece bath. In-suite laundry and storage. Heated underground parking stall. Walking distance to C-Train and shopping (Sobey's, Starbucks). Fabulous!

Located on a quiet cul-de-sac with great views of the park out back this 3 bedroom 2-story is worth a very close look. From the moment you enter this home you are amazed at the detail and craftsmanship offered, from the ceramic tile floors, to the spacious mud room/laundry room. The kitchen is the centerpiece of this home with gleaming granite countertops and loads of cabinetry including built in china cabinet a center island with eating bar and stainless steel appliances and spacious nook. 2 fireplaces compliment this home including in the large bonus room with 10 ft vaulted ceilings. Master bedroom is huge with sitting area and the spa like master ensuite with his and hers sinks, cable tv connection, 3x5 shower with seat and heated floors along with a soaker tub. 2 more spacious bedroom upstairs as well. Extensive back yard landscaping with mature apple trees and over 60 species of plants. Speaker system, cat 5E wiring, new shingles on roof, vacu-flo system, BBQ gas line, fridge w/water connection, park.