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Calgary Real Estate Market Summary – Varsity October 2024
Market Overview: 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.
