May 2024 marked a significant month for the Seton community in SE Calgary, known for its modern amenities and vibrant lifestyle. As a rapidly developing area, Seton continues to attract both buyers and investors, bolstered by its strategic location and access to essential services.

Market Highlights

• Sales Activity: In May, Seton experienced a notable increase in residential sales, with approximately 24 homes sold. This represents a 15% increase compared to April 2024, indicating strong buyer interest and engagement in the market.

• Price Range: Buyers can still find one-bedroom-apartment under $300,000, while just over $300,000 for townhouses. Duplex houses were over in $600,000, NEW & Never Occupied detached houses with double attached garages were SOLD close to $800,000.

  • Detached houses: 2 SOLD, $768,000 - $792,000; NEW, never occupied;

  • Townhouses: 9 SOLD, $277,500 - $ 500,400;

  • Apartments: 11 SOLD, $302,500 - $484,000;

• Inventory Levels: By the end of May, Seton had approximately 70 active listings, a slight decrease from April. This limited inventory has contributed to a competitive market, particularly for well-located properties.

• Days on Market: Homes in Seton sold more quickly, with the average days on market dropping to 20 days. This quick turnover reflects the high demand for homes in this desirable community.

Buyer Trends

• Demographics: The buyer demographic in Seton is increasingly diverse, with a significant number of first-time homebuyers and young families drawn to the area’s family-friendly environment and amenities.

• Property Preferences: Single-family homes continue to be the most popular choice, but there is growing interest in townhouses and multi-family units, especially among buyers looking for affordable options with community benefits.

• Community Appeal: Seton’s appeal lies in its modern infrastructure, including retail shops, restaurants, and recreational facilities. The community’s focus on walkability and access to green spaces enhances its attractiveness.

Economic Factors

• Interest Rates: With stable interest rates continuing into May, buyers have been more inclined to enter the market. This economic climate fosters confidence in making long-term investments in real estate.

• Local Development: Seton is experiencing ongoing development, including new commercial projects and residential builds, which contribute to the community’s growth and desirability.

Outlook

As we move into the summer months, the Seton real estate market is expected to remain active. Continued demand, combined with limited inventory, may drive prices upward. Buyers should be prepared for potential bidding wars on sought-after properties, while sellers may benefit from favorable market conditions.

Conclusion

May 2024 has proven to be a positive month for the Seton community in SE Calgary, characterized by increased sales, rising prices, and a competitive market environment. As the community evolves and expands, stakeholders should stay informed about market trends and economic factors that could impact future growth.

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