Citadel NW – October 2024

Calgary Real Estate Market Summary – Citadel October 2024

Overview

The Citadel community in Calgary displayed a steady real estate performance in October 2024, with consistent activity across all property types. Here are the key highlights:

• Total Residential Sales: 12 properties were sold, reflecting a 14% year-over-year decline.
• New Listings: 17 new properties were listed, representing a 42% increase year-over-year.
• Inventory: The total inventory for the month was 16 properties, a 33% increase compared to October 2023.
• Months of Supply: 1.33 months, indicating a seller’s market.

Property-Specific Insights

Detached Homes:

• Sales: 10 units sold (-9% YoY).
• Benchmark Price: $679,100, showing a 14.3% year-over-year increase.
• Inventory: 13 units, a 63% increase compared to last year.

Semi-Detached Homes:

• Sales: No recorded sales in October 2024.
• Benchmark Price: Data not available.
• Inventory: None listed.

Row Houses:

• Sales: 1 unit sold (-50% YoY).
• Benchmark Price: $461,700, a 5.1% year-over-year increase.
• Inventory: 1 unit, a 67% decline from October 2023.

Apartments:

• Sales: 1 unit sold (unchanged YoY).
• Benchmark Price: $291,400, marking a 4% year-over-year increase.
• Inventory: 1 unit, a 33% decrease from last year.

Pricing Trends

• Overall Benchmark Price: $584,600, showing a modest 0.9% year-over-year increase.
• Median Price: $667,500, a 6.7% year-over-year rise.
• Average Price: $668,521, reflecting a 12.6% increase compared to October 2023.

Community Features

Citadel is a popular family-oriented neighborhood in Calgary’s northwest, known for its convenient location and community-driven amenities:

• Green Spaces: Parks and playgrounds for recreation and outdoor activities.
• Connectivity: Easy access to major roads like Stoney Trail and close proximity to public transit options.
• Schools: Multiple educational institutions serving families with school-aged children.
• Shopping and Services: Convenient access to retail centers, dining, and essential services.

Market Outlook

The Citadel real estate market continues to exhibit strong demand, particularly for detached homes, which remain the most sought-after property type. Rising inventory levels suggest increasing opportunities for buyers, while steady price growth highlights the community’s appeal.

Conclusion

Citadel remains an attractive choice for homebuyers seeking a vibrant, family-friendly community. With a seller’s market still prevailing, both buyers and sellers can anticipate competitive dynamics heading into the year-end period.