Auburn Bay Community Market Report

Auburn Bay, a picturesque lake community in southeast Calgary, has continued to thrive in June 2024. Known for its family-friendly atmosphere, recreational opportunities, and proximity to amenities, Auburn Bay remains a sought-after location for homebuyers.

Market Trends:

• Price Range: The average price for homes in Auburn Bay had a 4% increase compared to June 2023. This growth is driven by a combination of demand for single-family homes and new construction.

  • 23 SOLD Detached houses $600,00-$2,600,000;

  • 6 SOLD Duplex houses $526,500-$620,000;

  • 8 SOLD Townhouses $292,500(Bungalow style) - $540,000;

  • 16 SOLD Apartment $279,900-$430,000.

• Sales Activity: There were 53 properties SOLD in June 2024, recorded a 10% increase in sales compared to the same month last year. The market is characterized by brisk sales, with many listings seeing offers within days of hitting the market.

• Property Types: The market includes a diverse range of properties, from single-family homes and duplexes to townhouses and condos. There has been a notable uptick in demand for larger homes as families seek more space. The highest SOLD price is over $1,300,000 and it is not back on the lake.

Community Features:

• Amenities: Auburn Bay is well-equipped with amenities, including the popular Auburn House, which offers recreational facilities, events, and community programs. The lake and surrounding parks provide residents with numerous outdoor activities, including swimming, kayaking, and hiking.

• Shopping and Dining: The community has seen an expansion in retail and dining options. Residents enjoy convenient access to grocery stores, cafes, and restaurants, contributing to a vibrant community lifestyle.

• Transportation: Accessibility is a key feature of Auburn Bay. Major roadways and public transit options enhance connectivity to downtown Calgary and neighboring communities, making it an ideal location for commuters.

Community Engagement:

• Events: June 2024 featured various community events, such as summer festivals and outdoor movie nights, which helped foster a strong sense of community. These gatherings have been well-attended and reflect the active lifestyle of Auburn Bay residents.

• Environmental Initiatives: The community is committed to sustainability, with ongoing initiatives to promote green spaces and eco-friendly practices. Residents have shown enthusiastic participation in local gardening projects and environmental awareness campaigns.

Outlook:

The real estate market in Auburn Bay is expected to remain robust throughout the summer months. Continued interest from buyers, coupled with a limited inventory of homes, suggests that prices may continue to rise. Developers are actively working on new projects, which will likely add more options to the market in the coming months.

Conclusion:

Auburn Bay SE Calgary is experiencing a dynamic real estate market in June 2024. With increasing home prices, strong sales activity, and a vibrant community atmosphere, Auburn Bay continues to be a desirable location for homebuyers seeking a blend of convenience, community, and recreational opportunities. Now is an excellent time for potential buyers to explore what this fantastic community has to offer.

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The second quarter of 2024 in Mahogany, SE Calgary, has witnessed a dynamic real estate market, characterized by steady growth in home sales and prices. As one of Calgary's premier lake communities, Mahogany continues to attract a diverse range of buyers, from young families to retirees, drawn by its lifestyle offerings and community amenities.

Market Highlights

• Sales Activity: There was a 10% increase in residential sales in Mahogany compared to Q1 2024, with approximately 125 homes sold between April and June. This reflects a strong demand and an active market.

• Price Range:

  • 65 detached homes were sold $575,000 - $3,500,000;

  • 19 semi-attached homes were sold $530,000 - $1,042,900;

  • 14 Townhomes were sold $467,900 - $589,000;

  • 27 apartment units were sold $294,900 - $1,400,000 respectively.

• Inventory Levels: The inventory in Mahogany remained tight, with around 90 active listings at the end of June, a slight decrease from the previous quarter. This limited supply has contributed to the competitive nature of the market.

• Days on Market: Homes sold faster this quarter, with the average days on market dropping to 22 days. The quick turnover indicates a robust demand, especially for well-priced properties.

Buyer Trends

• Demographics: The buyer demographic in Mahogany continues to diversify, with a notable influx of first-time buyers and families seeking the community's recreational amenities, including the lake and parks.

• Property Preferences: Single-family homes continue to dominate sales, but there is a growing interest in townhouses, particularly among buyers looking for lower maintenance options and community living.

• Lifestyle Appeal: Mahogany’s extensive outdoor amenities, including the lake, walking paths, and nearby shopping, have solidified its reputation as a desirable place to live, further enhancing its market appeal.

Economic Factors

• Interest Rates: The stability of interest rates from the Bank of Canada has played a crucial role in maintaining buyer confidence. This has led to an increase in mortgage applications and activity in the housing market.

• Employment Trends: With job growth in Calgary, particularly in sectors such as technology and healthcare, the local economy has strengthened, encouraging more individuals and families to invest in housing.

Outlook

The outlook for Mahogany’s real estate market for the remainder of 2024 appears optimistic. With continued demand and limited inventory, price growth is expected to persist. However, potential shifts in interest rates and overall economic conditions may influence buyer behavior as the year progresses.

Conclusion

Q2 2024 has been a positive quarter for Mahogany SE Calgary, characterized by increased sales, rising prices, and a competitive market environment. As the community continues to grow and attract diverse buyers, stakeholders should remain aware of market trends and economic factors that may shape the future landscape.

The second quarter of 2024 in Auburn Bay, SE Calgary, has shown a continued resilience in the housing market, reflecting broader trends in the Calgary real estate landscape. As we move further into the year, various factors, including interest rates, economic stability, and buyer sentiment, have shaped the market dynamics.

Market Highlights

• Sales Activity: The total number of residential sales in Auburn Bay increased by 12% compared to the previous quarter. 147 properties were sold in Apr-Jun. 30.61% in apartment section, 17% in Townhouse section, 10.2% in Duplex section, 42.18% in Detached section.  This uptick indicates strong buyer demand and a competitive market environment.

• Price Range:

  Detached houses, 62 SOLD,  $600,000 - $2,600,000; 

  Duplex houses, 15 SOLD, $511,500 - $666,000;

  Townhouses, 25 SOLD, $292,500 - $540,000;

  Apartments, 45 SOLD, $270,000 - $430,000.

• Inventory Levels: Inventory levels remained relatively stable, with approximately 85 active listings by the end of June. This represents a slight decrease of 8% from the previous quarter, indicating a tightening market.

• Days on Market: Homes in Auburn Bay sold faster this quarter, with the average days on market decreasing to 25 days. This reflects heightened buyer activity and competitive bidding situations for desirable properties.

Buyer Trends

• Demographics: The buyer profile in Auburn Bay continues to evolve, with an increasing number of first-time homebuyers and young families drawn to the community’s amenities and recreational opportunities.

• Preferred Property Types: Single-family homes remain the most sought-after property type, though townhouses are gaining traction due to their affordability and lower maintenance requirements.

• Lifestyle Appeal: Auburn Bay's appeal lies in its community features, including parks, walking trails, and proximity to schools, which resonate well with families looking for quality living environments.

Economic Factors

• Interest Rates: The Bank of Canada maintained interest rates this quarter, contributing to a favorable borrowing environment for buyers. This stability has encouraged many to enter the market, driving demand.

• Job Growth: Calgary’s economy has shown signs of recovery with job growth in various sectors, further boosting consumer confidence and spending power in the housing market.

Outlook

Looking ahead, the Auburn Bay real estate market is expected to remain robust through the summer months. Continued demand, coupled with limited inventory, may lead to further price increases. However, potential fluctuations in interest rates and economic conditions could introduce variability in buyer sentiment.

Conclusion

Overall, the second quarter of 2024 in Auburn Bay SE Calgary has demonstrated a positive trajectory, characterized by increased sales activity, rising home prices, and a competitive market landscape. Stakeholders should remain attentive to emerging trends and economic factors that could impact the market in the coming months.

This report serves as a snapshot of the current real estate landscape in Auburn Bay and aims to provide valuable insights for buyers, sellers, and investors alike.

Contact us for a Free Home Evaluation.

For the latest community market report, SIGNUP HERE.