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Calgary Real Estate Market Report: McKenzie Lake August 2024

Calgary Real Estate Market Report: McKenzie Lake August 2024

Overview

In August 2024, the McKenzie Lake community in Southeast Calgary continues to showcase a dynamic real estate market. With a blend of rising prices, steady sales, and strong buyer interest, this report provides insights into current market conditions, pricing trends, and community highlights.

Market Trends

  1. Sales Activity:

    • August 2024 experienced a 10% increase in sales compared to August 2023, reflecting sustained buyer demand.

    • A total of 11 properties were sold this month, comprising a variety of ALL single-family homes. Price range from $530,000 to $1,450,000.00

  2. Pricing:

    • Starter houses $530,000-$564,000;

    • Detached homes with double attached garages as low as $530,000.

  3. Days on Market:

    • Homes in McKenzie Lake are selling faster, with an average of 26 days on the market, down from 30 days in August 2023. This trend indicates a competitive environment, particularly for well-priced listings.

Inventory Levels

  • Current Listings: There are approximately 65 active listings in McKenzie Lake, providing a range of options for buyers while maintaining a balanced market.

  • The inventory turnover rate remains favorable, with properties typically selling within a month of listing, reflecting healthy demand.

Community Insights

  • Demographics: McKenzie Lake continues to attract a diverse demographic, including families, retirees, and young professionals, drawn by its scenic lake, parks, and strong community feel.

  • Amenities: The community offers a wealth of amenities, including access to McKenzie Lake, recreational facilities, walking paths, schools, and shopping areas, making it an appealing place to live.

Economic Factors

  • The local economy is showing continued growth, with low unemployment rates contributing to increased consumer confidence in the housing market.

  • Interest rates remain stable, supporting buyer activity and encouraging potential homeowners to explore financing options.

Conclusion

The real estate market in McKenzie Lake is thriving as of August 2024, characterized by increased sales, rising prices, and a competitive market environment. The combination of attractive community features and economic stability makes McKenzie Lake a desirable destination for homebuyers.

Recommendations for Buyers and Sellers:

  • Buyers: Act quickly on appealing listings to avoid competition. Getting pre-approved for a mortgage can strengthen your offer.

  • Sellers: Consider pricing your home competitively and showcasing its best features to attract buyers in this active market.

This report captures the current state of the McKenzie Lake real estate market, providing valuable insights for potential buyers and sellers.

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Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.