McKenzie Lake Community Market Report
Overview: As we conclude the third quarter of 2024, McKenzie Lake remains a vibrant and attractive community in Calgary. Known for its picturesque lake, parks, and family-friendly environment, McKenzie Lake continues to draw interest from buyers across various demographics.
Market Highlights:
Sales Activity: In Q3 2024, a total of 50 homes were sold. This represents a notable increase of 12.5%, indicating a strong demand in the market.
Days on Market: Homes in McKenzie Lake are selling more quickly, with an average of 26 days on the market, down from 32 days in Q3 2023. This reduction highlights the competitive nature of the current real estate environment.
Inventory Levels: The community has seen a slight decrease in inventory, with approximately 70 active listings at the end of September 2024. This tightening of supply has contributed to rising prices and quicker sales.
Market Segmentation:
Single-Family Homes: 47 SOLD. The single-family home segment remains the backbone of the McKenzie Lake market. Prices typically range from $465,000 to $2,490,000, with homes near the lake commanding a premium.
Townhomes: 3 SOLD $400,000-$472,000. Demand for townhomes is particularly strong among first-time buyers and those looking to downsize.
Neighborhood Insights:
McKenzie Lake’s appeal is enhanced by its recreational facilities, including access to the lake, walking trails, and parks. The local schools and community events further solidify its reputation as a family-oriented neighborhood.
Recent developments in infrastructure, including upgrades to public transit and roadways, have made the area even more accessible, boosting its attractiveness for commuters.
Conclusion: The McKenzie Lake real estate market has shown resilience and growth throughout Q3 2024. With increasing home prices and sales activity, it is evident that this community continues to be a desirable location for buyers. The balance of supply and demand remains a critical factor, contributing to the overall health of the market.
Outlook: Looking ahead, the market is expected to remain stable through the upcoming months, although seasonal trends may affect inventory levels. Continued interest from families and professionals seeking a quality lifestyle by the lake will likely sustain demand in McKenzie Lake.
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