Overview
In August 2024, the Copperfield community in Southeast Calgary continues to demonstrate a vibrant real estate market characterized by strong demand, stable pricing, and diverse housing options. This report outlines the current market conditions, pricing trends, and community features that define the Copperfield area.
Market Trends
Sales Activity:
August 2024 saw a 11% increase in sales compared to August 2023, reflecting ongoing buyer interest and a positive market environment.
A total of 32 properties were sold this month, including a mix of single-family homes, townhouses.
Pricing:
10 SOLD Detached houses $555,000-$794,635;
8 SOLD Townhouses $402,000-$495,000;
14 SOLD Apartments $238,001 - $358,000.
Days on Market:
Homes in Copperfield are selling faster, with an average of 27 days on the market, down from 34 days in August 2023. This decrease indicates a competitive atmosphere, particularly for well-presented listings. Detached houses 21 days; Townhouses 35 days; Apartments 26 days.
Inventory Levels
Current Listings: There are approximately 60 active listings in Copperfield, providing a range of options for potential buyers and contributing to a balanced market.
The inventory turnover rate remains favorable, with properties typically selling within a month of being listed, demonstrating strong demand.
Community Insights
Demographics: Copperfield attracts a diverse range of residents, including families, young professionals, and retirees, due to its community-oriented environment and family-friendly amenities.
Amenities: The community features parks, playgrounds, walking paths, and a local community center, enhancing the overall living experience. Proximity to schools and shopping facilities further increases its appeal to families.
Economic Factors
Calgary's economy remains stable, with low unemployment rates contributing to increased consumer confidence in the housing market.
Interest rates are holding steady, which encourages buyer activity and supports a favorable environment for those considering home purchases.
Conclusion
The real estate market in Copperfield is thriving as of August 2024, marked by increased sales, rising prices, and a competitive market atmosphere. The community's desirable amenities and economic stability make it an attractive option for homebuyers.
Recommendations for Buyers and Sellers:
Buyers: Act promptly on appealing listings, and consider obtaining pre-approval for financing to strengthen your position in this competitive market.
Sellers: Price your home strategically based on current market trends and consider enhancing curb appeal to attract potential buyers.
This report provides a snapshot of the current state of the Copperfield real estate market, offering valuable insights for prospective buyers and sellers.
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