Market Performance

McKenzie Lake’s real estate market in November 2024 demonstrated strong activity, with slight price increases in certain categories:

• Total residential benchmark price: $709,500, reflecting a 5.7% year-over-year (Y/Y) increase.

• Sales activity: 13 homes sold, marking an 8% Y/Y increase.

• Inventory levels: 10 active listings, down 23% Y/Y, with 1.30 months of supply.

• Average days on market (DOM): Homes averaged 23 days on the market before selling.

Housing Types

• Detached homes: The benchmark price for detached homes is $725,000, with 6 homes sold and inventory levels continuing to remain low.

• Semi-detached homes: The benchmark price for semi-detached homes is $681,115, with moderate demand.

• Row and apartment homes: Limited activity in row and apartment categories with just a few units sold.

Community Features

McKenzie Lake is well-known for its natural beauty and outdoor recreational opportunities:

1. Lake Sports and Recreation:

   • The community is built around McKenzie Lake, offering residents a variety of water sports throughout the year, including boating, fishing, and swimming in the summer months.

   • In winter, the lake freezes over, providing a perfect setting for ice skating and hockey.

2. Active Outdoor Lifestyle:

   • McKenzie Lake features pathways, green spaces, and outdoor areas designed for active living, making it an ideal environment for families and outdoor enthusiasts.

3. Family-Oriented Amenities:

   • The community offers several parks, a community center, and excellent local schools, fostering a family-friendly atmosphere.

McKenzie Lake continues to attract buyers seeking an active, family-friendly lifestyle with unparalleled access to outdoor lake sports and community-driven amenities. Its stable market conditions and robust property demand make it a highly desirable area for investment and long-term living.

Sales Overview
McKenzie Lake experienced a notable increase in sales activity in October 2024, with total residential sales rising by 44% year-over-year (Y/Y) to reach 13 sales. THEY ARE ALL DETACHED HOMES, $470,000-$960,000, with an average 26 Days on the market. 5 properties were SOLD at or above the asking price. This growth reflects increased demand in the area, particularly for detached homes, which saw an 86% increase in sales compared to October 2023.

New Listings and Inventory
New listings for October 2024 totaled 21 properties, marking a significant 75% Y/Y increase, suggesting that more homeowners are entering the market. However, inventory remains relatively constrained, with only 20 active listings.

Price Trends

• Detached Homes: The benchmark price for detached properties in McKenzie Lake rose to $749,800, reflecting an 8.4% increase compared to last year.

• Row and Apartment Prices: The row homes in McKenzie Lake averaged $423,900, a modest 8.1% Y/Y increase. Apartments showed no recorded transactions, which aligns with ongoing demand predominantly centered on detached properties.

Market Conditions
The market conditions remain tight in McKenzie Lake, with months of supply at 1.54, indicating a seller’s market. This low supply relative to demand continues to put upward pressure on home prices.

Conclusion
The McKenzie Lake real estate market remains robust with strong demand, rising prices, and limited inventory. While new listings are up, months of supply remains low, signaling continued demand and competition among buyers, especially for detached homes.

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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McKenzie Lake Community Market Report – September 2024

Overview: McKenzie Lake, a sought-after community in Calgary, continues to showcase its appeal in the real estate market as of September 2024. Known for its picturesque lake, recreational amenities, and family-friendly atmosphere, the area remains attractive to buyers looking for both single-family homes and condominiums.

Market Highlights:

• Average Home Price: The average price for homes in McKenzie Lake has seen a modest increase, reaching approximately CAD 699,100, up 4.7% from September 2023.

• Sales Activity: There were 45 homes sold in September 2024, a slight increase compared to 40 sales in the same month last year. This uptick indicates sustained buyer interest and activity in the area.

• Days on Market: Homes in McKenzie Lake are selling faster, with an average of 28 days on the market, down from 34 days in September 2023.

• Inventory Levels: Current inventory stands at around 75 active listings, reflecting a balanced market. This is slightly lower than the previous year’s 85 listings, indicating a tightening supply.

Market Segmentation:

• Single-Family Homes: The majority of sales were single-family homes, with prices ranging from CAD 500,000 to CAD 800,000. Larger homes with lake access remain in high demand.

• Condos and Townhomes: The condo market has also seen healthy activity, with an average price of CAD 350,000. These properties cater to first-time buyers and downsizers.

Neighborhood Insights:

• McKenzie Lake continues to be attractive due to its recreational offerings, including the private lake, parks, and proximity to schools. These features contribute to its family-oriented reputation.

• The community’s ongoing development and infrastructure improvements, such as road enhancements and local amenities, add to its desirability.

Conclusion: As we move into the fall season, McKenzie Lake's real estate market remains vibrant. With steady price growth and increasing sales, it’s clear that demand for homes in this community is strong. Buyers and sellers alike can benefit from the current market dynamics, and it remains an opportune time for investment in this appealing Calgary neighborhood.

Outlook: Looking ahead, analysts predict that the market may continue to stabilize, with potential fluctuations in inventory as seasonal trends set in. Continued interest from families and professionals seeking a lakeside lifestyle should keep McKenzie Lake a competitive market in Calgary’s real estate landscape.

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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.

Overview

In July 2024, the McKenzie Lake community in Southeast Calgary continues to demonstrate a robust real estate market, characterized by strong demand, increasing prices, and a variety of housing options. This report provides a detailed analysis of market dynamics, pricing trends, inventory levels, and community highlights.

Market Trends

1. Sales Activity:

   • There was a 15% increase in sales compared to July 2023, reflecting heightened buyer interest in the area.

   • A total of 25 properties were sold during the month, indicating a vibrant market with a mix of single-family homes, townhouses.

2. Pricing:

   • 23 SOLD Detached houses $465,000-$1,325,000;

   • 2 SOLD Townhouses $400,000-$426,000.

3. Days on Market:

   • Homes are selling more quickly, with an average of 28 days on the market, down from 40 days in July 2023. This reflects a competitive environment, particularly for well-maintained and appropriately priced properties.

Inventory Levels

• Current Listings: There are approximately 70 active listings in McKenzie Lake, showing a stable inventory level that caters to diverse buyer preferences.

• The inventory turnover rate remains strong, with properties typically selling within a month of being listed, indicating a healthy demand-supply balance.

Community Insights

• Demographics: McKenzie Lake attracts a mix of families, retirees, and young professionals, drawn by its scenic surroundings, access to recreational facilities, and a family-friendly atmosphere.

• Amenities: The community boasts excellent amenities, including the beautiful McKenzie Lake, local parks, walking trails, schools, and shopping centers. Ongoing developments are enhancing the area's appeal, making it a sought-after location.

Economic Factors

• Calgary's economy is on a positive trajectory, with growth in employment and consumer confidence contributing to the housing market's vitality.

• Interest rates have stabilized, encouraging buyer activity and helping first-time homebuyers navigate the market.

Conclusion

The McKenzie Lake real estate market is thriving in July 2024, characterized by increased sales, rising prices, and a competitive atmosphere. With its desirable location and strong community amenities, McKenzie Lake remains an attractive option for potential buyers.

Recommendations for Buyers and Sellers:

• Buyers: Move quickly on desirable listings to capitalize on the competitive market. Consider pre-approval for financing to strengthen your position.

• Sellers: Price homes competitively based on current market trends and consider staging or minor improvements to enhance appeal.

This report highlights the key aspects of the McKenzie Lake real estate market and serves as a valuable tool for making informed real estate decisions.

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