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Situated in the northwest of Calgary, Royal Oak offers breathtaking mountain views despite being only minutes outside of the city. The majority of Royal Oak is comprised of single family homes, along with some condos and townhouses. Some parts of the area are extremely wealthy but there is also more affordable housing on offer for those on a less affluent budget.
Royal Oak is a fairly wealthy neighborhood comprised of mainly single-family detached homes. While single-family homes are the most common, there are also condominiums. The average household income of residents from the Statistics Canada Census 2001 report was approximately $100,273. At the time, there were no low income residents living within this community.
In 2006, the population of Royal Oak was 7,303. As of the year 2000, 17.2% of residents residing in neighborhood were immigrants. In 2000, the neighborhood consisted only of single-family detached housing, of which 4.1% was used for renting. Since 2000, many townhouses and apartment complexes have been added to the neighborhood.
The land of Royal Oak was annexed in 1989, but did not become a residential neighborhood until 1998. In 2008, Royal Oak homes began at $347,000 and ended at $800,000. Royal Oak condos start at $200,000 and range up to $428,000.
In September of 2010, the Calgary Board of Education is opening a new kindergarten through 4th grade elementary school.
House prices for single family homes in the Royal Oak area can range from $350,500 up to $1,000,000. The price is slightly less for condos and townhouses, with these house prices averaging at just under the $300,000 mark.
There were 241 Royal Oak single family homes sold in 2009. These homes had an average sale price of $484,895 and a median sale price of $460,000. The average number of days on the market (DOM) for these Royal Oak single family homes was 43 days. There were 95 Royal Oak condos sold in 2009. These homes had an average sale price of $290,517 and a median sale price of $298,000. On average, the number of days on the market (DOM) for these Royal Oak condos was 42 days.
In 2010, 13 Royal Oak single family homes have been sold. These homes had an average sale price of $490,638 and a median sale sale price of $475,000. The average DOM for these Royal Oak homes is 27 days.
Have you got plans to buy or sell a Royal Oak home? Call Justin Havre today for up-to-date details on Royal Oaks recent activity.
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