Overview: The real estate market in New Brighton, SE Calgary, saw notable shifts in October 2024, characterized by increased listings, rising inventory, and a modest uptick in prices. Known for its community-oriented amenities and family-friendly atmosphere, New Brighton continues to attract buyers, though inventory growth suggests a slightly more balanced market.
Market Activity and Sales Trends:
Sales Volume: There were 20 sales in October, representing a 33% increase compared to the previous year. This indicates solid demand, especially for properties priced competitively in this suburban neighborhood.
New Listings: A total of 28 new listings were introduced, marking a 40% increase year-over-year. This increase in supply provides buyers with more choices and has slightly tempered the competition.
Months of Supply: The months of supply rose to 1.80, an increase of 112% year-over-year, reflecting the higher inventory level and a move towards a more balanced market.
Average days on the market: 19 days.
Price Trends:
Detached Homes: 11 SOLD, $570,000 - $825,000. The benchmark price for detached homes rose to $669,800, a year-over-year increase of 6.5%. Detached properties remain popular due to their space and family-friendly features. Average days on the market: 16 days.
Semi-Detached and Row Homes: 2 SOLD, $550,000 - $572,000. The benchmark for semi-detached homes reached $580,500, while row homes averaged $454,900, both showing an approximate 7% increase. This suggests ongoing demand for moderately priced housing. Average days on the market: 21 days.
Townhouses: 7 SOLD, $398,000 - $475,000. The benchmark price for apartments reached $363,000, marking a 7.7% increase year-over-year. This segment offers a more affordable entry point into the market. Average days on the market: 23 days.
Buyer and Seller Dynamics:
For Buyers: With increased inventory and stable prices, buyers have more flexibility in choosing a property, especially among row homes and semi-detached options.
For Sellers: Sellers should anticipate more discerning buyers due to increased listings. Properties in excellent condition and competitively priced, particularly detached homes, continue to perform well.
Conclusion: The New Brighton market in October 2024 showed increased inventory and steady price growth across housing types. This balanced environment provides opportunities for both buyers and sellers, making it a stable market in Calgary’s southeast quadrant,
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