Overview
In October 2024, Auburn Bay in SE Calgary saw significant activity in its real estate market, reflecting both a strong demand and notable price increases across different property types. This report provides a detailed analysis of the residential market performance, including price trends, inventory levels, and sales statistics.
Market Snapshot
Average Home Price: $631,600.00
Median Home Price: $610,000
Price Range: $370,000 to $1,435,000
Average Days on Market: 23
Total Residential Sales: There were 31 total residential property sales in October, a 63% increase year-over-year (Y/Y).
New Listings: New listings increased by 34% Y/Y, totaling 47 for the month.
Inventory: The total residential inventory stood at 60, marking a 19% increase from October 2023.
Months of Supply: The overall months of supply reached 1.94, indicating a somewhat balanced market, though leaning towards a seller's market in specific property types due to low supply.
Property Type Analysis
Detached Homes
Sales: 16 detached homes were sold, a remarkable 129% increase Y/Y.
Benchmark Price: $803,100, reflecting a 9% rise from the previous year.
New Listings: 23 new listings, marking a 44% increase Y/Y.
Months of Supply: 1.17, indicative of a competitive seller's market for detached properties.
Semi-Detached Homes
Sales: Sales remained stable with 3 units sold, the same as October 2023.
Benchmark Price: $520,800, up by 10% Y/Y.
New Listings: 6 new listings, a 100% increase compared to the previous year.
Months of Supply: 0.61, showing strong demand and limited supply in this segment.
Row Houses
Sales: Sales reached 9 units, an 80% increase Y/Y.
Benchmark Price: $465,300, up by 15% from October 2023.
New Listings: There were 10 new listings, marking a 150% increase Y/Y.
Months of Supply: 0.97, maintaining a tight supply level for row homes.
Apartment Condos
Sales: Apartment sales decreased, with only 3 units sold (a 25% decline Y/Y).
Benchmark Price: $377,300, a significant 18% increase Y/Y, likely due to the scarcity of available inventory.
New Listings: New listings decreased to 8, a 33% drop from the previous year.
Months of Supply: High at 6.33, indicating a slower-paced buyer's market.
Price Trends and Affordability
The benchmark price for total residential properties in Auburn Bay averaged $631,600, marking a 6% increase from the prior year. Across all property types, detached homes continued to command the highest prices, while apartment condos remained the most affordable.
Price Distribution
A majority of detached home sales occurred in the $700,000–$999,999 price range.
Row houses and semi-detached homes typically fell in the $400,000–$599,999 range, appealing to middle-market buyers.
Apartment sales were concentrated below $400,000, catering to entry-level and investment buyers.
Conclusion
Auburn Bay’s real estate market in October 2024 reflected strong demand, particularly for detached, semi-detached, and row houses. Increased sales and rising prices across most segments indicate robust buyer interest. Apartment condos, however, faced softer demand, likely due to higher months of supply. The market dynamics suggest Auburn Bay remains attractive for both homeowners and investors, with low months of supply in several categories signaling continued demand-driven price support.
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