Mahogany Community Market Report
Overview: As of September 2024, Mahogany stands out as one of Calgary’s premier lake communities, attracting buyers with its stunning natural surroundings, recreational opportunities, and vibrant community spirit. This sought-after neighborhood continues to demonstrate robust market activity, appealing to families, professionals, and those seeking a lakefront lifestyle.
Market Highlights:
Average Home Price: The average home price in Mahogany is approximately CAD 592,600, reflecting a 2.7% increase from September 2023. This upward trend underscores the ongoing demand for properties in this desirable location.
Sales Activity: In September 2024, 29 homes were sold, marking an 11.1% increase in transactions. This rise in sales highlights the community’s continued attractiveness to prospective buyers.
Days on Market: Homes in Mahogany are selling faster, with an average of 21 days on the market, down from 26 days in the same month last year. This decrease indicates a competitive market where buyers are eager to secure properties.
Inventory Levels: The community had about 108 active listings at the end of September 2024, 86.2% increase from September 2023. This reduction in inventory contributes to the upward pressure on prices and quicker sales.
Market Segmentation:
Detached Homes: The single-family home segment remains strong, with 18 SOLD prices typically ranging from $649,500 to $1,412,500. Homes with lake access or modern finishes are particularly in demand.
Duplex houses: 3 SOLD, $575,000-$695,000.
Townhomes: 4 SOLD, $450,000-$586,500. Townhomes continue to attract first-time buyers and young families looking for affordable options in a well-planned community.
Apartments: 4 SOLD. The condo market is also active, with price $300,000-$690,000.
Neighborhood Insights:
Mahogany offers a wealth of amenities, including a private lake, parks, walking trails, and recreational facilities. The community’s focus on outdoor living and active lifestyles enhances its appeal.
Strong community events and social activities foster a sense of belonging among residents, making Mahogany a popular choice for families and individuals alike.
Conclusion: The Mahogany real estate market has demonstrated continued growth and resilience in September 2024. With rising home prices and increasing sales activity, it’s clear that demand for properties in this lake community remains strong. The balance of supply and demand is critical in shaping current market conditions.
Outlook: As we move into the final months of the year, market conditions are expected to remain stable, though seasonal trends may affect inventory levels. The allure of Mahogany’s lifestyle and amenities will likely sustain buyer interest in the months ahead.
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