The Garneau neighbourhood near the University of Alberta has a year to date average sale price for single family detached homes of $494,545. There was a vacant lot that sold in Garneau this year for $395,000 which demonstrates the strong residential values of the neighbourhood. Garneau has sold higher on a yearly basis, in 2007 the average selling price was $569,021. The Garneau area has seen it's property values appreciate by 60% since 2005.