Calgary Real Estate Market Report – McKenzie Towne October 2024

Overview

McKenzie Towne SE, a master-planned community in Calgary, saw a steady real estate market in October 2024 with sustained demand and price growth across residential property types. The community remains highly desirable due to its family-friendly environment, charming village-style layout, and access to amenities and green spaces.

Sales Activity

In October 2024, McKenzie Towne recorded 33 property sales, marking a slight year-over-year increase of 3%. New listings matched last year's levels with 35 homes entering the market, resulting in a balanced sales-to-new-listings ratio of 0.94. Inventory levels rose slightly to 39 active listings, giving the community a months-of-supply measure of 1.18—indicating continued demand for available properties.

Pricing Trends

The benchmark property price in McKenzie Towne reached $503,200, showing a healthy 6.4% increase over October 2023. The market showed gains across all housing categories:

• Detached Homes: Benchmark price of $650,200 with a modest increase of 3.1% YoY.

• Semi-Detached: Benchmark price of $482,500.

• Row Houses: Benchmark price of $432,900.

• Apartments: Benchmark price of $343,000, marking a notable 9.7% increase YoY.

Overall, the median price for residential properties in McKenzie Towne rose to $500,000, reflecting a 21.2% increase. The average property price reached $516,221, a rise of 19.4%, showing strong buyer demand and price appreciation across housing types.

Market Dynamics

McKenzie Towne’s market remains competitive, with properties moving relatively quickly. The demand reflects the neighborhood’s appeal to families, professionals, and retirees alike due to its range of home styles, community-focused amenities, and the popular High Street retail area. The low months of supply underscores the neighborhood’s position in a seller’s market, which has been consistent throughout 2024.

Summary

McKenzie Towne's real estate market in October 2024 continues to thrive with increasing property values and sustained buyer interest. The community’s unique blend of charm, convenience, and lifestyle amenities makes it a standout neighborhood in Calgary’s SE quadrant. With consistent appreciation in prices and steady sales activity, McKenzie Towne remains a favorable choice for both homeowners and investors looking for stability and growth.