Overview
As of August 2024, McKenzie Towne in Southeast Calgary remains an attractive community for homebuyers, characterized by steady demand, rising prices, and a diverse selection of properties. This report provides a detailed look at the market dynamics, pricing trends, and community features that are shaping the real estate landscape in McKenzie Towne.
Market Trends
Sales Activity:
August 2024 saw a 12% increase in sales compared to August 2023, indicating a robust buyer interest.
A total of 45 properties were sold during the month, including a mix of single-family homes, duplex house, townhouses, and condos.
Pricing:
18 SOLD Detached houses $520,000 - $880,000;
3 SOLD Duplex houses $483,000-$510,000;
10 SOLD Townhouses $326,000-$525,000;
14 SOLD Apartments $255,000-$450,000.
Days on Market:
Homes are selling more quickly, with an average of 29 days on the market, down from 35 days in August 2023. This decline suggests a competitive environment, particularly for well-maintained properties.
Inventory Levels
Current Listings: There are approximately 70 active listings in McKenzie Towne, offering a variety of options for potential buyers.
The inventory turnover rate is favorable, with properties generally selling within a month of listing, indicating strong demand and a balanced market.
Community Insights
Demographics: McKenzie Towne attracts a mix of families, young professionals, and retirees, thanks to its community-focused atmosphere and family-friendly amenities.
Amenities: The community boasts numerous amenities, including parks, schools, walking paths, and shopping centers, contributing to its overall appeal. The vibrant community spirit and organized events further enhance the living experience.
Economic Factors
The local economy continues to strengthen, with low unemployment rates bolstering consumer confidence and supporting the housing market.
Interest rates remain stable, which encourages buyer activity and provides a favorable environment for those looking to finance their home purchases.
Conclusion
The real estate market in McKenzie Towne is thriving as of August 2024, characterized by increased sales, rising prices, and a competitive atmosphere. The community's desirable amenities and strong economic fundamentals make it a sought-after location for homebuyers.
Recommendations for Buyers and Sellers:
Buyers: Given the competitive market, consider acting quickly on attractive listings and getting pre-approved for financing to enhance your offer.
Sellers: Price your home strategically based on current market trends and consider making minor upgrades to boost its appeal to potential buyers.
This report offers a snapshot of the current state of the McKenzie Towne real estate market, providing valuable insights for prospective buyers and sellers.
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