Mahogany Real Estate Market Report – August 2024

Mahogany Community Market Report

August 2024 proved to be a vibrant month for the Mahogany community in Calgary, known for its stunning lake, extensive amenities, and family-oriented atmosphere. As summer comes to a close, the real estate market in Mahogany remains strong, reflecting its continued desirability.

Market Overview: In August, Mahogany recorded 29 home sales. The average sale price rose to $602,900, indicating sustained demand and a healthy appreciation in property values. Buyers continue to show interest in Mahogany, drawn by the community’s attractive features and lifestyle offerings. 15 SOLD Detached houses $645,000-$2,700,000; 3 SOLD Duplex houses $590,000-$650,000; 6 SOLD Townhouses $454,000-$579,000; 5 SOLD Apartments $295,000(1-bedroom-apartment) - $1,574,055 Brand new luxury lakeview Estate condo. 

Inventory and Trends: The current inventory includes 98 active listings, showcasing a diverse range of properties, from single-family homes to townhouses. Homes are selling at an average of 20 days on market (DOM), which illustrates a competitive environment. Well-priced listings are frequently receiving multiple offers, underscoring the community's appeal. Detached houses 36 days; Duplex houses 22 days; Townhouses 36 days; Apartments 61 days.

Community Insights: Mahogany’s charm lies in its integration of nature and urban living. The community boasts an array of parks, pathways, and the picturesque lake, which provides opportunities for outdoor activities such as kayaking and swimming. Recent developments, including new shops and services, enhance the convenience for residents, making it a sought-after place to live.

Looking Ahead: As the fall season approaches, the Mahogany real estate market is expected to remain active. While the number of buyers may begin to taper, the community's strong fundamentals and lifestyle offerings will continue to attract interest. Sellers are advised to leverage the current demand, while buyers should act swiftly to seize opportunities in this thriving market. Overall, Mahogany continues to stand out as a prime destination in Calgary’s real estate landscape.

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