McKenzie Towne Community Market Report
Overview: As we conclude the third quarter of 2024, McKenzie Towne remains a highly desirable community in Calgary, known for its charming architecture, strong community vibe, and extensive amenities. The area continues to attract a mix of families, first-time buyers, and retirees, contributing to a dynamic real estate market.
Market Highlights:
Sales Activity: A total of 127 homes were sold in Q3 2024, compared to 95 homes in the same quarter last year, indicating a 15.8% increase in sales activity. This surge in transactions points to a competitive market with strong buyer interest.
Days on Market: Homes in McKenzie Towne are selling more quickly, with an average of 24 days on the market, down from 29 days in Q3 2023. This reduction demonstrates the urgency among buyers in the current landscape.
Inventory Levels: The community had approximately 70 active listings at the end of September 2024, down from 80 listings in Q3 2023. This decline in inventory has put additional pressure on prices and contributed to the faster sales pace.
Market Segmentation:
Detached Homes: The single-family home segment remains robust, with 51 SOLD prices generally ranging from $520,000 to $989,900. Homes featuring modern finishes and larger yards are particularly sought after.
Duplex Houses: 14 SOLD, $483,500-$550,000.
Townhomes: 27 SOLD, 4326,000-$525,000. Townhomes are popular, particularly among young families and first-time buyers looking for affordable options in a well-established community.
Apartments: The condo market is also active, with 35 SOLD, $224,000-$450,000.
Neighborhood Insights:
McKenzie Towne offers a wealth of amenities, including parks, walking trails, and a vibrant town center with shops and restaurants. The community’s planned layout and aesthetic appeal make it attractive for residents.
Strong community engagement and events foster a sense of belonging, making McKenzie Towne a favorite choice for families and individuals alike.
Conclusion: The McKenzie Towne real estate market has shown resilience and growth throughout Q3 2024. With rising prices and increasing sales activity, it’s clear that the demand for homes in this community remains strong. The balance of supply and demand is critical to understanding the current market dynamics.
Outlook: As we approach the final quarter of the year, market conditions are expected to remain stable, although seasonal trends may affect inventory levels. The continued appeal of McKenzie Towne’s lifestyle and amenities is likely to sustain buyer interest moving forward.
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