Peter Mitham @ Western Investor

Calgary is Canada’s top market to watch when it comes to real estate in 2025, according to PricewaterhouseCoopers, with strong domestic and international interest.

“Canada has discovered Western Canada, and international markets have discovered Western Canada,” sources told the team preparing the 2025 Emerging Trends in Real Estate report, produced in partnership with the Urban Land Institute.

With a diversifying economy and a growing technology sector, including more than 300 clean-tech start-ups, Calgary is experiencing strong population growth that’s in turn driving demand for housing and services.

Office vacancies remain high, with downtown reporting a rate slightly below 30% according to CBRE Ltd., but Calgary is offering incentives to encourage the conversion of space to help address an oversupply of older B and C class space.

The recent sale 635 8th Avenue SW also signals renewed confidence among investors in office space in its own right.

Despite having some of the fastest-growing residential construction costs in Canada through the second quarter of this year, PwC noted that both rent and sale prices have kept pace with the increases. This is preserving margins and helping ensure ongoing investor interest.

These factors are also what sets Calgary apart from Vancouver, which placed second in the annual ranking of appeal to investors.

“Condo development in Vancouver is subdued due to financing challenges and high construction costs,” the report stated. “Several interviewees said land prices still haven’t come down enough to create a clear path to development since interest rates and construction costs remain high.”

The recent extension granted to Grosvenor on the Oakridge transit centre site illustrates the challenges. The ambitious makeover of the former bus depot has been delayed, with the city recently giving Grosvenor until 2033 to meet its commitments to the city for elements such as social housing and community amenities.

Cost is a big issue, a point made by those PwC interviewed for the trends report. The considerations even dog the rising number of sites being sold through court-ordered processes.

“We looked at over 50 land purchase deals over the last 12 months, and none made financial sense,” one source told PwC.

While some developers have launched new multi-family projects for sale as well as purpose-built rentals, market reception doesn’t mean it’s been easy to pull the trigger. Some have been in the planning stages for a while, such as Fraser Mills in Coquitlam. Presales have accelerated in recent months as lower interest rates drew in buyers, and Beedie Living broke ground on the first two towers in October.

In Vancouver, Prima Properties is set to launch Monogram, a 49-storey tower at Burrard and Davie, on a site whose low land costs make economic sense today. The site was purchased in 2005 for $13.4 million, which works out to $46 per buildable square foot as rezoned in 2021 (not including holding costs).

Others, such as a 141-unit multi-family rental development PC Urban and Fiera are building in Vancouver, broke ground in October having secured Canada Mortgage and Housing Corp. funding.

“It’s never been more difficult,” said Brent Sawchyn, founder and CEO of PC Urban. “We’re seeing a moderation in construction price but we’re still dealing with a 35% or 40% increase over the past few years.”

Throw in taxes, development cost charges (including Metro Vancouver’s plans to quadruple rates over the next three years) and other demands, and developments quickly become unviable.

Sawchyn notes a “recession of capital” has limited the financial resources of developers, which is where CMHC financing becomes key.

“It’s a huge, huge challenge to get a rental building under construction without CMHC financing,” he said.

However, CMHC has also changed its financing requirements over the last nine months, increasing affordable housing and energy efficiency requirements.

To address the challenges, PwC says Vancouver is seeing a trend of developers looking to partner with retail chains to occupy space in multiple properties to animate at-grade space.

Others are exploring joint ventures with long-term landowners to facilitate land acquisition and future development.

Calgary Real Estate Market Report - OCT 2024

Sales gains for homes priced above $600,000 offset declines at the lower end of the market, resulting in October sales that were similar to last year. The 2,174 sales in October increased over September and stood 24 per cent above long-term trends for the month. “Housing demand has stayed relatively strong in our market as we move into the fourth quarter, with October sales rising over last month,” said Ann-Marie Lurie, Chief Economist at CREB®. “However, activity would likely have been stronger if more supply choices existed for lower-priced homes. Supply levels in our market are improving relative to the ultra-low levels experienced last year, but much of the gains have been driven by higher-priced units for each property type. This results in conditions far more balanced in the upper end of the market versus the seller's market conditions in the lower to mid-price ranges of each property type.”

The gains in new listings relative to sales over the past six months have supported inventory gains in the city. As of October, 4,966 units were available, a significant improvement over the near-record low of 3,205 units reported last October. While inventories are starting to reach levels more consistent with long-term trends, the inventory composition has changed as nearly half of all the residential inventory is now priced above $600,000.

Adjustments in supply are helping move the market away from the tight market conditions experienced in the spring. However, conditions remain relatively tight, with 2.3 months of supply and a 67 per cent sales-to-new listings ratio, and the months of supply does vary significantly by price range and property type. For example, detached homes priced below $700,000 are reporting less than two months of supply, while homes priced over $1,000,000 are reporting over three months of supply. This is likely resulting in different price pressures depending on price range and property type.

Overall, the total residential benchmark price was $592,500 in October, over four per cent higher than last October and on a year-to-date basis, averaging over eight per cent higher than last year's levels. The unadjusted benchmark prices did ease slightly over last month due to seasonal factors, as seasonally adjusted prices remained relatively stable in October compared to September.

Please read the full report here.

Overview

In October 2024, Auburn Bay in SE Calgary saw significant activity in its real estate market, reflecting both a strong demand and notable price increases across different property types. This report provides a detailed analysis of the residential market performance, including price trends, inventory levels, and sales statistics.

Market Snapshot

• Average Home Price: $631,600.00

• Median Home Price: $610,000

• Price Range: $370,000 to $1,435,000

• Average Days on Market: 23

• Total Residential Sales: There were 31 total residential property sales in October, a 63% increase year-over-year (Y/Y).

• New Listings: New listings increased by 34% Y/Y, totaling 47 for the month.

• Inventory: The total residential inventory stood at 60, marking a 19% increase from October 2023.

• Months of Supply: The overall months of supply reached 1.94, indicating a somewhat balanced market, though leaning towards a seller's market in specific property types due to low supply.

Property Type Analysis

1. Detached Homes

   • Sales: 16 detached homes were sold, a remarkable 129% increase Y/Y.

   • Benchmark Price: $803,100, reflecting a 9% rise from the previous year.

   • New Listings: 23 new listings, marking a 44% increase Y/Y.

   • Months of Supply: 1.17, indicative of a competitive seller's market for detached properties.

2. Semi-Detached Homes

   • Sales: Sales remained stable with 3 units sold, the same as October 2023.

   • Benchmark Price: $520,800, up by 10% Y/Y.

   • New Listings: 6 new listings, a 100% increase compared to the previous year.

   • Months of Supply: 0.61, showing strong demand and limited supply in this segment.

3. Row Houses

   • Sales: Sales reached 9 units, an 80% increase Y/Y.

   • Benchmark Price: $465,300, up by 15% from October 2023.

   • New Listings: There were 10 new listings, marking a 150% increase Y/Y.

   • Months of Supply: 0.97, maintaining a tight supply level for row homes.

4. Apartment Condos

   • Sales: Apartment sales decreased, with only 3 units sold (a 25% decline Y/Y).

   • Benchmark Price: $377,300, a significant 18% increase Y/Y, likely due to the scarcity of available inventory.

   • New Listings: New listings decreased to 8, a 33% drop from the previous year.

   • Months of Supply: High at 6.33, indicating a slower-paced buyer's market.

Price Trends and Affordability

The benchmark price for total residential properties in Auburn Bay averaged $631,600, marking a 6% increase from the prior year. Across all property types, detached homes continued to command the highest prices, while apartment condos remained the most affordable.

Price Distribution

• A majority of detached home sales occurred in the $700,000–$999,999 price range.

• Row houses and semi-detached homes typically fell in the $400,000–$599,999 range, appealing to middle-market buyers.

• Apartment sales were concentrated below $400,000, catering to entry-level and investment buyers.

Conclusion

Auburn Bay’s real estate market in October 2024 reflected strong demand, particularly for detached, semi-detached, and row houses. Increased sales and rising prices across most segments indicate robust buyer interest. Apartment condos, however, faced softer demand, likely due to higher months of supply. The market dynamics suggest Auburn Bay remains attractive for both homeowners and investors, with low months of supply in several categories signaling continued demand-driven price support.

Overview: Copperfield in SE Calgary displayed a balanced real estate market in October 2024, with consistent demand and price growth, making it appealing for buyers and investors alike. The area, known for its family-friendly vibe, amenities, and green spaces, continued to attract steady interest despite seasonal cooling.

Market Activity:

• Sales: Total residential sales were recorded at 26 properties, marking a 30% decline year-over-year, likely influenced by increased inventory and a typical seasonal slowdown.

• New Listings: A total of 43 new listings were added in October, reflecting a 23% year-over-year increase, giving buyers more options and pushing inventory levels higher.

• Months of Supply: Copperfield saw a months-of-supply level at 1.73, up significantly by 96% from last year, indicating a shift toward a more balanced market.

• Average days on the market: 22 days

Price Trends:

• Detached Homes: 10 SOLD, $499,988 - $868,500. The benchmark price for detached homes reached $647,800, up by 8% year-over-year, indicating strong demand for single-family residences. Average days on the market was 12 days.

• Semi-Detached and Row Homes: 7 SOLD, $423,500 - $473,000. Semi-detached data was not reported; however, row homes averaged $446,800, showing an 8% annual increase. Average days on the market was 34 days.

• Apartments: 9 SOLD, $230,000 - $354,900. The benchmark price for apartments rose to $356,300, a 5.4% increase from last year, reflecting a stable demand for more affordable housing options. Average days on the market was 23 days.

• Overall Residential: The total residential benchmark price in Copperfield was $529,000, up by 5.4% year-over-year, showcasing steady market appreciation across all segments.

Buyer and Seller Dynamics:

• Buyers: With a moderate inventory increase and stable prices, buyers have an expanded selection, though popular detached homes are still highly sought after.

• Sellers: Well-maintained properties, especially detached homes, continue to be in demand. Sellers are encouraged to price competitively to attract the season’s remaining buyer interest.

Conclusion: The Copperfield market in October 2024 displayed resilience, with positive price trends across housing types despite a seasonal sales dip. As we move further into the fall and winter months, the increased inventory and stable pricing provide balanced opportunities for both buyers and sellers​.

Overview

As of October 2024, the Seton community in Southeast Calgary continues to show a dynamic real estate landscape. Known for its modern amenities, proximity to the South Health Campus, and vibrant community spirit, Seton remains a desirable location for both first-time homebuyers and families.

Market Trends

Sales Activity

• Total Sales: In October 2024, Seton recorded a total of 25 residential sales, reflecting a 7.4% decrease from the previous year. This may because of the price increase in the area.

• Average Days on Market: Homes in Seton are selling faster, with an average of 39 days on the market, down from 31 days in September.

Pricing

• Median Home Price: The median sale price for homes in Seton is currently $475,600, which is a 7.4% increase compared to October 2023. This upward trend signifies the community’s growing appeal and the competitive nature of the market.

• Price Range:

  8 SOLD Detached houses: $645,000 - $885,000;

  4 SOLD Townhouses: $237,000(Bungalow style) - $506,586;

  13 SOLD Apartments: $287,000 - $490,000.

Inventory

• Active Listings: As of the end of October, there are 72 active listings in Seton. This represents a balanced market, with inventory levels sufficient to meet current demand.

• New Listings: There were 44 new listings added in October, indicating a healthy turnover of properties.

Community Highlights

Seton was established in 2018 however construction began on some amenities several years prior, when completed, will include a mixture of residential and business development, and will be served by a proposed southeast leg of the city's C-TRAIN system, also known as the Green Line. Seton is home to the 44-acre (180,000 m2) South Health Campus, a major hospital for the Calgary Region, which opened in 2011. (Wikipedia.org)

Conclusion

Overall, the real estate market in Seton SE Calgary remains strong and resilient as of October 2024. With increasing sales and a steady rise in home prices, the community continues to be a popular choice for buyers. The combination of desirable amenities, a family-friendly atmosphere, and robust market activity suggests a promising outlook for the upcoming months.

Recommendations for Buyers and Sellers

• Buyers: Given the current competitive market, potential buyers should be prepared to act quickly and consider making offers above asking price in highly desirable properties.

• Sellers: For those considering selling, staging homes and competitive pricing will be key to attracting buyers and securing timely sales.

For more detailed insights or personalized advice, feel free to reach out!

Market Overview

As of October 2024, the real estate market in Rangeview, SE Calgary, is exhibiting positive trends characterized by increasing demand and stable pricing. This vibrant community continues to attract homebuyers due to its appealing amenities, family-friendly environment, and strategic location.

Key Market Statistics

• SOLD Home Price: $865,000-$874,999.94

  • An decrease of approximately 50% compared to October 2023.

• Home Sales:

  • ONLY 2 homes sold in the past month, representing a 52% increase year-over-year as the price of the houses were sold at higher price range.

• Current Listings:

  • 25 active listings, indicating a balanced market with options for various buyers.

• Days on Market:

  • Homes are selling quickly, with an average of 53 days on the market before receiving offers.

Buyer Demographics

The buyer demographic in Rangeview is primarily composed of young families, professionals including medical industry, and first-time homebuyers. The community's parks play a significant role in attracting families, while its modern amenities appeal to professionals seeking a suburban lifestyle.

Community Highlights

• Calgary's First Garden-to-Table Community

• Local Lifestyle: ​​​​Just 5 minutes from home, groceries, shops, restaurants, a movie theatre and even the world’s largest YMCA await.

• Community Gardens Gardens, orchards and greenhouses create opportunities for residents to learn about food planting, growing and harvesting.

• Parks & Pathways There's room to roam on scenic pathways circling wetlands, plus green spaces, playgrounds, sports fields & more.

• Urban Village Places to shop, dine and relax – Rangeview will have it all, with over 10 acres of quaint, walkable commercial areas.

Future Outlook

Looking ahead, Rangeview is expected to maintain its upward trajectory in real estate. Planned developments, including new retail spaces and additional parks, will likely enhance the quality of life for residents and increase property values.

• New Developments: Anticipated commercial developments are set to increase local shopping options and services.

• Infrastructure Improvements: Continued investment in infrastructure will improve accessibility and enhance the overall living experience.

Conclusion

The real estate market in Rangeview SE Calgary is strong and continues to thrive as a desirable community for buyers. With steady price growth, an array of amenities, and ongoing developments, Rangeview is well-positioned for future growth. For potential buyers and investors, now is an excellent time to consider opportunities in this vibrant neighborhood.

For further details or specific inquiries regarding listings, feel free to reach out!

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.

Overview: The real estate market in New Brighton, SE Calgary, saw notable shifts in October 2024, characterized by increased listings, rising inventory, and a modest uptick in prices. Known for its community-oriented amenities and family-friendly atmosphere, New Brighton continues to attract buyers, though inventory growth suggests a slightly more balanced market.

Market Activity and Sales Trends:

• Sales Volume: There were 20 sales in October, representing a 33% increase compared to the previous year. This indicates solid demand, especially for properties priced competitively in this suburban neighborhood.

• New Listings: A total of 28 new listings were introduced, marking a 40% increase year-over-year. This increase in supply provides buyers with more choices and has slightly tempered the competition.

• Months of Supply: The months of supply rose to 1.80, an increase of 112% year-over-year, reflecting the higher inventory level and a move towards a more balanced market.

• Average days on the market: 19 days.

Price Trends:

• Detached Homes: 11 SOLD, $570,000 - $825,000. The benchmark price for detached homes rose to $669,800, a year-over-year increase of 6.5%. Detached properties remain popular due to their space and family-friendly features. Average days on the market: 16 days.

• Semi-Detached and Row Homes: 2 SOLD, $550,000 - $572,000. The benchmark for semi-detached homes reached $580,500, while row homes averaged $454,900, both showing an approximate 7% increase. This suggests ongoing demand for moderately priced housing. Average days on the market: 21 days.

• Townhouses: 7 SOLD, $398,000 - $475,000. The benchmark price for apartments reached $363,000, marking a 7.7% increase year-over-year. This segment offers a more affordable entry point into the market. Average days on the market: 23 days.

Buyer and Seller Dynamics:

• For Buyers: With increased inventory and stable prices, buyers have more flexibility in choosing a property, especially among row homes and semi-detached options.

• For Sellers: Sellers should anticipate more discerning buyers due to increased listings. Properties in excellent condition and competitively priced, particularly detached homes, continue to perform well.

Conclusion: The New Brighton market in October 2024 showed increased inventory and steady price growth across housing types. This balanced environment provides opportunities for both buyers and sellers, making it a stable market in Calgary’s southeast quadrant​,

Market Overview

In October 2024, the Mahogany SE Calgary real estate market experienced notable activity, with increases in sales across property types. Total residential sales for the month reached 46 houses, representing a 53% year-over-year increase. New listings were also up, reaching 54, an 8% increase year-over-year. Inventory saw a more significant rise, growing by 61% to 98 units. The sales-to-new-listings (S/NL) ratio stood at 85%, indicating a competitive market despite the growing inventory levels. The months of supply metric rose to 2.13, reflecting a balanced market yet trending toward a potential buyer's market if inventory growth continues.

The benchmark price for all residential properties in Mahogany rose by 4% year-over-year to $590,900.

Detached Homes

• Sales: 22 (up 57% year-over-year)

• New Listings: 29 (up 7% year-over-year)

• Inventory: 37 (up 9% year-over-year)

• Months of Supply: 1.68 (down 31% year-over-year)

• Benchmark Price: $809,100 (up 5% year-over-year)

Detached homes remained popular, with a 57% increase in sales and a tight supply of only 1.68 months, marking a slight seller's advantage in this category. The benchmark price rose 5% to $809,100, indicating steady demand for single-family homes in Mahogany.

Semi-Detached Homes

• Sales: 8 (up 300% year-over-year)

• New Listings: 7 (up 40% year-over-year)

• Inventory: 8 (no change year-over-year)

• Months of Supply: 1.00 (down 75% year-over-year)

• Benchmark Price: $568,200 (up 7% year-over-year)

Semi-detached homes saw the highest increase in sales at 300%, with a balanced supply level of 1.00 month. This segment is seeing strong buyer interest, as evidenced by the quick sales pace and a 7% increase in the benchmark price to $568,200.

Row Homes

• Sales: 4 (up 33% year-over-year)

• New Listings: 2 (down 50% year-over-year)

• Inventory: 20 (up 567% year-over-year)

• Months of Supply: 5.00 (up 400% year-over-year)

• Benchmark Price: $490,400 (up 7% year-over-year)

Row homes showed a mixed performance. Sales increased by 33%, but new listings dropped by 50%, leading to a spike in inventory, which now sits at 20 units, a 567% year-over-year increase. With a months of supply at 5.00, row homes are transitioning into a buyer’s market, despite a 7% increase in the benchmark price.

Apartments

• Sales: 12 (up 9% year-over-year)

• New Listings: 16 (up 14% year-over-year)

• Inventory: 33 (up 106% year-over-year)

• Months of Supply: 2.75 (up 89% year-over-year)

• Benchmark Price: $369,700 (up 13% year-over-year)

The apartment market has become more competitive, with inventory rising 106% to 33 units and the months of supply increasing to 2.75. Sales were up 9%, and the benchmark price rose 13% to $369,700, indicating resilient demand despite the increased supply.

Price Range Distribution

The distribution of sales by price range showed a concentration in the $400,000–$499,999 range, followed by a significant number of transactions in the $200,000–$300,000 and $300,000–$400,000 ranges. Higher price brackets, particularly above $700,000, also saw activity but to a lesser extent.

Year-to-Date Overview

As of October 2024, year-to-date sales totaled 373, reflecting a slight 1% decrease from the previous year. New listings year-to-date reached 550 (up 12%), while inventory rose to 76 units (up 29%). The year-to-date benchmark price increased by 7% to $595,180, underscoring steady appreciation in Mahogany’s residential market despite slight reductions in sales volume​.

Conclusion

Overall, Mahogany’s real estate market in October 2024 demonstrates robust demand and rising prices across most property types, with particular strength in detached and semi-detached homes. While inventory levels are increasing, especially in row homes and apartments, the area’s popularity supports ongoing price growth.

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.

Market Overview McKenzie Towne’s real estate market continued to show moderate growth with sustained demand across different housing types, but it also experienced some variation in inventory and prices year-over-year.

Sales and Inventory

• Total Residential Sales: 33 properties, reflecting a year-over-year increase of 3%.

• New Listings: 35 properties, indicating no significant change from October 2023.

• Inventory: Increased by 56% year-over-year to 39 units, a sign of growing supply in response to steady demand.

• Months of Supply: Increased to 1.18 months, a 56% increase, showing a slight cooling from a highly competitive market.

• Average Days on the Market: 24 days

Property Types and Price Trends

1. Detached Homes:

   • Sales: 16 properties, up by 45% from last year.

   • Inventory: 13 properties, slightly down by 7%.

   • Benchmark Price: $650,200, a 3.1% year-over-year increase.

   • Price range: $500,000 - $950,000.

   • Average Days on the Market: 23 days

2. Semi-Detached Homes:

   • Sales: 2 properties, unchanged from last year.

   • Inventory: 5 properties, marking a 25% increase.

   • Benchmark Price: $482,500, reflecting a robust 9.7% price increase year-over-year.

   • Price range: $450,000 - $505,000.

   • Average Days on the Market: 9 days

3. Row Homes:

   • Sales: 5 units, down by 29% compared to October 2023.

   • Inventory: 8 units, a significant 167% increase.

   • Benchmark Price: $432,900, up by 9.3% from last year.

   • Price range: $319,500 - $435,000.

   • Average Days on the Market: 24 days

4. Apartments:

   • Sales: 10 units, decreasing by 17%.

   • Inventory: 9 units, down by 36%.

   • Benchmark Price: $343,000, up by 9.6% year-over-year.

   • Price range: $230,000 - $450,000.

   • Average Days on the Market: 28 days

Price Trends

• Total Residential Benchmark Price: $503,200, representing a 6.4% increase year-over-year, indicating overall appreciation in property values across McKenzie Towne.

Conclusion McKenzie Towne’s real estate market remains active and largely balanced. The slight increase in inventory and months of supply suggests a shift toward a more balanced market, with home prices continuing to appreciate across property types. Buyers can expect a moderate pace in the market, with slightly less pressure compared to previous months.