As of July 2024, the Mahogany community in Southeast Calgary continues to thrive, exhibiting strong sales activity, rising home prices, and a desirable selection of properties. This report provides an analysis of current market trends, pricing, inventory levels, and the community features that make Mahogany a sought-after location for homebuyers.

Market Trends

1. Sales Activity:

   • July 2024 experienced a 15% increase in sales compared to July 2023, reflecting heightened interest from buyers in the area.

   • A total of 30 properties were sold this month, including a mix of single-family homes, townhouses, and condos.

2. Pricing:

   • 18 SOLD Detached houses $637,500 - $1,500,000 luxury house.

   • 1 SOLD Townhouse $572,158;

   • 9 SOLD Apartments $300,500-$800,000;

3. Days on Market:

   • Homes in Mahogany are selling quickly, with an average of 24 days on the market, down from 30 days in July 2023. This decline indicates a competitive market environment, especially for well-maintained properties.

Inventory Levels

• Current Listings: There are approximately 60 active listings in Mahogany, providing a diverse range of options for prospective buyers.

• The inventory turnover rate remains favorable, with properties typically selling within a month of being listed, demonstrating strong demand.

Community Insights

• Demographics: Mahogany attracts a diverse demographic, including families, young professionals, and retirees, drawn by its lakefront lifestyle and community amenities.

• Amenities: The community features a stunning lake, parks, playgrounds, walking paths, and a community center. Access to local schools and shopping options further enhances its appeal, making it particularly attractive to families.

Economic Factors

• Calgary's economy continues to show stability, with low unemployment rates and growing consumer confidence supporting the housing market.

• Interest rates remain steady, encouraging buyer activity and providing favorable conditions for those considering home purchases.

Conclusion

The real estate market in Mahogany is thriving as of July 2024, characterized by increased sales, rising prices, and a competitive atmosphere. The combination of attractive community features and economic stability positions Mahogany as a desirable choice for homebuyers.

Recommendations for Buyers and Sellers:

• Buyers: With a competitive market, consider acting quickly on appealing listings and obtaining pre-approval for financing to strengthen your purchasing position.

• Sellers: Price your home strategically based on current market trends and consider enhancements that can boost your property's appeal.

This report captures the current state of the Mahogany real estate market, offering valuable insights for prospective buyers and sellers alike.

Contact us for a Free Home Evaluation.

For the latest community market report, SIGNUP HERE.

As of July 2024, McKenzie Towne in Southeast Calgary is experiencing a dynamic real estate market marked by increased sales activity, rising home prices, and a variety of housing options. This report provides insights into current market trends, pricing, inventory levels, and community attributes that influence the real estate landscape in McKenzie Towne.

Market Trends

1. Sales Activity:

   • July 2024 saw a 10% increase in sales compared to July 2023, indicating sustained buyer interest in the area.

   • A total of 44 properties were sold this month, including a mix of single-family homes, townhouses, and condos. 

2. Pricing:

   • 14 SOLD Detached houses $557,000-$989,900;

   • 7 SOLD Duplex houses $494,000-$535,000;

   • 12 SOLD Townhouses $349,900-$479,000;

   • 11 SOLD Apartments $262,000-$329,000;

3. Days on Market:

   • Homes in McKenzie Towne are selling more quickly, with an average of 29 days on the market, down from 35 days in July 2023. This trend highlights a competitive market environment, particularly for well-priced and appealing listings.

Inventory Levels

• Current Listings: There are approximately 75 active listings in McKenzie Towne, offering a range of options for buyers.

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

Community Insights

• Demographics: McKenzie Towne attracts a diverse demographic, including families, young professionals, and retirees, drawn by its community-focused environment and family-friendly amenities.

• Amenities: The community features numerous parks, playgrounds, walking paths, and a local community center. Access to schools and nearby shopping areas further enhances its appeal, making it an attractive location for families.

Economic Factors

• The Calgary economy is showing signs of stability, with low unemployment rates contributing to increased consumer confidence in the housing market.

• Stable interest rates are encouraging buyer activity, making it an opportune time for prospective homeowners to explore financing options.

Conclusion

The real estate market in McKenzie Towne is thriving as of July 2024, characterized by increased sales, rising prices, and a competitive atmosphere. The combination of desirable community features and economic stability makes McKenzie Towne a sought-after destination for homebuyers.

Recommendations for Buyers and Sellers:

• Buyers: Given the competitive nature of the market, it’s advisable to act quickly on desirable listings and consider obtaining pre-approval for financing to enhance your offer.

• Sellers: Price your home competitively based on current market trends and consider staging or making minor improvements to attract buyers.

This report offers a comprehensive overview of the current state of the McKenzie Towne real estate market, providing valuable insights for prospective buyers and sellers.

Contact us for a Free Home Evaluation.

For the latest community market report, SIGNUP HERE.

As of July 2024, the New Brighton community in Southeast Calgary is experiencing a vibrant real estate market, characterized by strong sales activity, rising home prices, and a range of attractive housing options. This report provides an in-depth look at market trends, pricing, inventory levels, and community features that are shaping the New Brighton real estate landscape.

Market Trends

1. Sales Activity:

   • July 2024 saw a 13% increase in sales compared to July 2023, reflecting ongoing strong demand in the area.

   • A total of 27 properties were sold this month, single-family homes & townhouses.

2. Pricing:

   • 21 SOLD Detached houses $545,000-$769,800;

   • 6 SOLD Townhouses $415,000-$446,500;

3. Days on Market:

   • Homes in New Brighton are selling faster, with an average of 26 days on the market, down from 32 days in July 2023. This reduction indicates a competitive market, especially for well-priced listings.

Inventory Levels

• Current Listings: There are approximately 70 active listings in New Brighton, providing a variety of options for potential buyers.

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

Community Insights

• Demographics: New Brighton attracts a diverse mix of residents, including families, young professionals, and retirees, drawn by its community-oriented atmosphere and excellent amenities.

• Amenities: The community features numerous parks, walking paths, and a vibrant community center. Proximity to schools, shopping facilities, and recreational opportunities enhances its appeal, particularly for families.

Economic Factors

• Calgary’s economy is showing stability, with low unemployment rates bolstering consumer confidence and supporting the housing market.

• Interest rates remain stable, encouraging buyer activity and providing a favorable environment for prospective homeowners.

Conclusion

The real estate market in New Brighton is thriving as of July 2024, characterized by increased sales, rising prices, and a competitive atmosphere. The combination of strong community amenities and economic stability positions New Brighton as an attractive choice for homebuyers.

Recommendations for Buyers and Sellers:

• Buyers: Given the competitive market, consider acting quickly on appealing listings and securing pre-approval for financing to strengthen your offer.

• Sellers: Price your home competitively based on current market trends and consider minor enhancements to attract potential buyers.

This report captures the current state of the New Brighton real estate market, providing valuable insights for prospective buyers and sellers alike.

Contact us for a Free Home Evaluation.

For the latest community market report, SIGNUP HERE.

As of July 2024, the Copperfield community in Southeast Calgary continues to exhibit a strong real estate market, driven by consistent buyer interest and a variety of housing options. This report details current market dynamics, pricing trends, inventory levels, and community features that influence the real estate landscape in Copperfield.

Market Trends

1. Sales Activity:

   • July 2024 experienced a 9% increase in sales compared to July 2023, indicating robust demand in the area.

   • A total of 32 properties were sold this month, encompassing a mix of single-family homes, townhouses and apartments

2. Pricing:

   • 16 SOLD Detached houses $512,500 - $896,400;.

   • 4 SOLD Townhouses $449,000 - $525,000;

   • 12 SOLD Apartments 4224,000-$355,000.

3. Days on Market:

   • Homes in Copperfield are selling faster, with an average of 30 days on the market, down from 36 days in July 2023. This decline suggests a competitive environment, particularly for well-maintained and well-priced properties.

Inventory Levels

• Current Listings: There are approximately 65 active listings in Copperfield, providing a diverse range of options for potential buyers.

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

Community Insights

• Demographics: Copperfield appeals to a wide demographic, including families, young professionals, and retirees, drawn by its community-focused atmosphere and family-friendly amenities.

• Amenities: The community features parks, playgrounds, walking trails, and a community center, enhancing the overall living experience. Its proximity to schools and shopping facilities makes it an attractive location for families.

Economic Factors

• The Calgary economy is showing signs of stability, with low unemployment rates contributing to increased consumer confidence in the housing market.

• Interest rates remain relatively stable, which supports buyer activity and encourages those considering home purchases to explore financing options.

Conclusion

The real estate market in Copperfield is thriving as of July 2024, marked by increased sales, rising prices, and a competitive market atmosphere. The combination of desirable community features and economic stability positions Copperfield as an attractive destination for homebuyers.

Recommendations for Buyers and Sellers:

• Buyers: With a competitive market, it's advisable to act quickly on appealing listings. Securing pre-approval for financing can strengthen your offer.

• Sellers: Consider pricing your home competitively based on current market trends and enhancing its appeal to attract potential buyers.

This report provides valuable insights into the current state of the Copperfield real estate market, aiding prospective buyers and sellers in making informed decisions.

Contact us for a Free Home Evaluation.

For the latest community market report, SIGNUP HERE.

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.

Contact us for a Free Home Evaluation.

For the latest community market report, SIGNUP HERE.

Rangeview Community Market Report 

There were 6 properties SOLD in July. Townhouses were over $500,000, while duplex houses were close to $600,000. Detached houses were SOLD between $620,000 and $786,000.

Community Insights

• Demographics: Rangeview continues to attract families, young professionals, and first-time homebuyers due to its affordable pricing compared to other SE Calgary neighborhoods.

• Amenities: The community benefits from close proximity to parks, schools, and shopping centers, enhancing its appeal. New developments and infrastructure projects are underway, further improving local amenities.

Economic Factors

• The Calgary economy is showing signs of recovery, with job growth contributing to increased consumer confidence in the housing market.

• Interest rates have stabilized, providing a conducive environment for buyers, despite previous fluctuations.

Conclusion

The real estate market in Rangeview SE, Calgary, is experiencing a positive trajectory in July 2024, characterized by increased sales, rising prices, and a competitive atmosphere. As the community continues to develop and attract new residents, it is expected that the market will maintain its momentum in the coming months.

Recommendations for Buyers and Sellers:

• Buyers: Act promptly on desirable listings to avoid competition, and consider exploring various financing options given the current interest rate environment.

• Sellers: Position homes competitively based on recent market trends and work with a knowledgeable real estate agent to leverage current demand effectively.

This report serves as a snapshot of the Rangeview real estate market and should be used as a guide for making informed decisions in the housing sector.

Auburn Bay Community Market Report

Auburn Bay, a picturesque lake community in southeast Calgary, has continued to thrive in June 2024. Known for its family-friendly atmosphere, recreational opportunities, and proximity to amenities, Auburn Bay remains a sought-after location for homebuyers.

Market Trends:

• Price Range: The average price for homes in Auburn Bay had a 4% increase compared to June 2023. This growth is driven by a combination of demand for single-family homes and new construction.

  • 23 SOLD Detached houses $600,00-$2,600,000;

  • 6 SOLD Duplex houses $526,500-$620,000;

  • 8 SOLD Townhouses $292,500(Bungalow style) - $540,000;

  • 16 SOLD Apartment $279,900-$430,000.

• Sales Activity: There were 53 properties SOLD in June 2024, recorded a 10% increase in sales compared to the same month last year. The market is characterized by brisk sales, with many listings seeing offers within days of hitting the market.

• Property Types: The market includes a diverse range of properties, from single-family homes and duplexes to townhouses and condos. There has been a notable uptick in demand for larger homes as families seek more space. The highest SOLD price is over $1,300,000 and it is not back on the lake.

Community Features:

• Amenities: Auburn Bay is well-equipped with amenities, including the popular Auburn House, which offers recreational facilities, events, and community programs. The lake and surrounding parks provide residents with numerous outdoor activities, including swimming, kayaking, and hiking.

• Shopping and Dining: The community has seen an expansion in retail and dining options. Residents enjoy convenient access to grocery stores, cafes, and restaurants, contributing to a vibrant community lifestyle.

• Transportation: Accessibility is a key feature of Auburn Bay. Major roadways and public transit options enhance connectivity to downtown Calgary and neighboring communities, making it an ideal location for commuters.

Community Engagement:

• Events: June 2024 featured various community events, such as summer festivals and outdoor movie nights, which helped foster a strong sense of community. These gatherings have been well-attended and reflect the active lifestyle of Auburn Bay residents.

• Environmental Initiatives: The community is committed to sustainability, with ongoing initiatives to promote green spaces and eco-friendly practices. Residents have shown enthusiastic participation in local gardening projects and environmental awareness campaigns.

Outlook:

The real estate market in Auburn Bay is expected to remain robust throughout the summer months. Continued interest from buyers, coupled with a limited inventory of homes, suggests that prices may continue to rise. Developers are actively working on new projects, which will likely add more options to the market in the coming months.

Conclusion:

Auburn Bay SE Calgary is experiencing a dynamic real estate market in June 2024. With increasing home prices, strong sales activity, and a vibrant community atmosphere, Auburn Bay continues to be a desirable location for homebuyers seeking a blend of convenience, community, and recreational opportunities. Now is an excellent time for potential buyers to explore what this fantastic community has to offer.

Contact us for a Free Home Evaluation.

For the latest community market report, SIGNUP HERE.

The second quarter of 2024 in Mahogany, SE Calgary, has witnessed a dynamic real estate market, characterized by steady growth in home sales and prices. As one of Calgary's premier lake communities, Mahogany continues to attract a diverse range of buyers, from young families to retirees, drawn by its lifestyle offerings and community amenities.

Market Highlights

• Sales Activity: There was a 10% increase in residential sales in Mahogany compared to Q1 2024, with approximately 125 homes sold between April and June. This reflects a strong demand and an active market.

• Price Range:

  • 65 detached homes were sold $575,000 - $3,500,000;

  • 19 semi-attached homes were sold $530,000 - $1,042,900;

  • 14 Townhomes were sold $467,900 - $589,000;

  • 27 apartment units were sold $294,900 - $1,400,000 respectively.

• Inventory Levels: The inventory in Mahogany remained tight, with around 90 active listings at the end of June, a slight decrease from the previous quarter. This limited supply has contributed to the competitive nature of the market.

• Days on Market: Homes sold faster this quarter, with the average days on market dropping to 22 days. The quick turnover indicates a robust demand, especially for well-priced properties.

Buyer Trends

• Demographics: The buyer demographic in Mahogany continues to diversify, with a notable influx of first-time buyers and families seeking the community's recreational amenities, including the lake and parks.

• Property Preferences: Single-family homes continue to dominate sales, but there is a growing interest in townhouses, particularly among buyers looking for lower maintenance options and community living.

• Lifestyle Appeal: Mahogany’s extensive outdoor amenities, including the lake, walking paths, and nearby shopping, have solidified its reputation as a desirable place to live, further enhancing its market appeal.

Economic Factors

• Interest Rates: The stability of interest rates from the Bank of Canada has played a crucial role in maintaining buyer confidence. This has led to an increase in mortgage applications and activity in the housing market.

• Employment Trends: With job growth in Calgary, particularly in sectors such as technology and healthcare, the local economy has strengthened, encouraging more individuals and families to invest in housing.

Outlook

The outlook for Mahogany’s real estate market for the remainder of 2024 appears optimistic. With continued demand and limited inventory, price growth is expected to persist. However, potential shifts in interest rates and overall economic conditions may influence buyer behavior as the year progresses.

Conclusion

Q2 2024 has been a positive quarter for Mahogany SE Calgary, characterized by increased sales, rising prices, and a competitive market environment. As the community continues to grow and attract diverse buyers, stakeholders should remain aware of market trends and economic factors that may shape the future landscape.

The second quarter of 2024 in Auburn Bay, SE Calgary, has shown a continued resilience in the housing market, reflecting broader trends in the Calgary real estate landscape. As we move further into the year, various factors, including interest rates, economic stability, and buyer sentiment, have shaped the market dynamics.

Market Highlights

• Sales Activity: The total number of residential sales in Auburn Bay increased by 12% compared to the previous quarter. 147 properties were sold in Apr-Jun. 30.61% in apartment section, 17% in Townhouse section, 10.2% in Duplex section, 42.18% in Detached section.  This uptick indicates strong buyer demand and a competitive market environment.

• Price Range:

  Detached houses, 62 SOLD,  $600,000 - $2,600,000; 

  Duplex houses, 15 SOLD, $511,500 - $666,000;

  Townhouses, 25 SOLD, $292,500 - $540,000;

  Apartments, 45 SOLD, $270,000 - $430,000.

• Inventory Levels: Inventory levels remained relatively stable, with approximately 85 active listings by the end of June. This represents a slight decrease of 8% from the previous quarter, indicating a tightening market.

• Days on Market: Homes in Auburn Bay sold faster this quarter, with the average days on market decreasing to 25 days. This reflects heightened buyer activity and competitive bidding situations for desirable properties.

Buyer Trends

• Demographics: The buyer profile in Auburn Bay continues to evolve, with an increasing number of first-time homebuyers and young families drawn to the community’s amenities and recreational opportunities.

• Preferred Property Types: Single-family homes remain the most sought-after property type, though townhouses are gaining traction due to their affordability and lower maintenance requirements.

• Lifestyle Appeal: Auburn Bay's appeal lies in its community features, including parks, walking trails, and proximity to schools, which resonate well with families looking for quality living environments.

Economic Factors

• Interest Rates: The Bank of Canada maintained interest rates this quarter, contributing to a favorable borrowing environment for buyers. This stability has encouraged many to enter the market, driving demand.

• Job Growth: Calgary’s economy has shown signs of recovery with job growth in various sectors, further boosting consumer confidence and spending power in the housing market.

Outlook

Looking ahead, the Auburn Bay real estate market is expected to remain robust through the summer months. Continued demand, coupled with limited inventory, may lead to further price increases. However, potential fluctuations in interest rates and economic conditions could introduce variability in buyer sentiment.

Conclusion

Overall, the second quarter of 2024 in Auburn Bay SE Calgary has demonstrated a positive trajectory, characterized by increased sales activity, rising home prices, and a competitive market landscape. Stakeholders should remain attentive to emerging trends and economic factors that could impact the market in the coming months.

This report serves as a snapshot of the current real estate landscape in Auburn Bay and aims to provide valuable insights for buyers, sellers, and investors alike.

Contact us for a Free Home Evaluation.

For the latest community market report, SIGNUP HERE.

May 2024 marked a significant month for the Seton community in SE Calgary, known for its modern amenities and vibrant lifestyle. As a rapidly developing area, Seton continues to attract both buyers and investors, bolstered by its strategic location and access to essential services.

Market Highlights

• Sales Activity: In May, Seton experienced a notable increase in residential sales, with approximately 24 homes sold. This represents a 15% increase compared to April 2024, indicating strong buyer interest and engagement in the market.

• Price Range: Buyers can still find one-bedroom-apartment under $300,000, while just over $300,000 for townhouses. Duplex houses were over in $600,000, NEW & Never Occupied detached houses with double attached garages were SOLD close to $800,000.

  • Detached houses: 2 SOLD, $768,000 - $792,000; NEW, never occupied;

  • Townhouses: 9 SOLD, $277,500 - $ 500,400;

  • Apartments: 11 SOLD, $302,500 - $484,000;

• Inventory Levels: By the end of May, Seton had approximately 70 active listings, a slight decrease from April. This limited inventory has contributed to a competitive market, particularly for well-located properties.

• Days on Market: Homes in Seton sold more quickly, with the average days on market dropping to 20 days. This quick turnover reflects the high demand for homes in this desirable community.

Buyer Trends

• Demographics: The buyer demographic in Seton is increasingly diverse, with a significant number of first-time homebuyers and young families drawn to the area’s family-friendly environment and amenities.

• Property Preferences: Single-family homes continue to be the most popular choice, but there is growing interest in townhouses and multi-family units, especially among buyers looking for affordable options with community benefits.

• Community Appeal: Seton’s appeal lies in its modern infrastructure, including retail shops, restaurants, and recreational facilities. The community’s focus on walkability and access to green spaces enhances its attractiveness.

Economic Factors

• Interest Rates: With stable interest rates continuing into May, buyers have been more inclined to enter the market. This economic climate fosters confidence in making long-term investments in real estate.

• Local Development: Seton is experiencing ongoing development, including new commercial projects and residential builds, which contribute to the community’s growth and desirability.

Outlook

As we move into the summer months, the Seton real estate market is expected to remain active. Continued demand, combined with limited inventory, may drive prices upward. Buyers should be prepared for potential bidding wars on sought-after properties, while sellers may benefit from favorable market conditions.

Conclusion

May 2024 has proven to be a positive month for the Seton community in SE Calgary, characterized by increased sales, rising prices, and a competitive market environment. As the community evolves and expands, stakeholders should stay informed about market trends and economic factors that could impact future growth.

Contact us for a Free Home Evaluation.

For latest community market report, SIGNUP HERE.

April 2024 marked an active period for the Auburn Bay real estate market in SE Calgary, showcasing the community's appeal and the dynamics of the housing landscape. Known for its lake, parks, and family-friendly environment, Auburn Bay continues to attract a diverse range of buyers.

Market Highlights

• Sales Activity: The month of April saw approximately 43 residential sales. This growth indicates sustained demand as the spring market heats up.

• Home Prices: Buyers can find one-bedroom-apartment at $270,000, two-bedroom-apartment under $300,000, townhouses as low as $381,000, while detached homes between $627,000 and $1,086,000.

• Inventory Levels: By the end of April, Auburn Bay had about 95 active listings, a slight increase from March. This increase in inventory, although modest, still reflects the ongoing demand for homes in the area.

• Days on Market: Homes in Auburn Bay sold at an average of 27 days on the market, a decrease from the previous month, suggesting a competitive environment where well-priced properties are attracting buyers quickly.

Buyer Trends

• Demographics: The buyer demographic remains diverse, with a mix of first-time homebuyers, young families, and investors. The community's amenities and quality of life continue to resonate with various buyer groups.

• Property Preferences: Single-family homes are still the preferred choice among buyers, but there is growing interest in townhouses due to their affordability and lower maintenance needs.

• Lifestyle Appeal: Auburn Bay's appeal lies in its recreational opportunities, including the lake, walking paths, and community events. These features make it an attractive destination for families seeking an active lifestyle.

Economic Factors

• Interest Rates: The steady interest rates maintained by the Bank of Canada have encouraged buyer activity, as affordable financing remains accessible for many.

• Local Employment Trends: Positive job growth in Calgary, particularly in sectors such as technology and healthcare, has contributed to increased consumer confidence and spending power.

Outlook

Looking ahead, the Auburn Bay real estate market is expected to remain robust as the warmer months approach. The combination of rising demand and a relatively stable inventory may lead to continued price appreciation. Buyers should be prepared for competitive bidding situations, especially for desirable properties.

Conclusion

April 2024 was a promising month for the Auburn Bay community in SE Calgary, characterized by increased sales, rising prices, and a dynamic market environment. As the community continues to develop and attract new residents, stakeholders should remain aware of emerging trends and economic factors that may influence future growth.

Contact us for a Free Home Evaluation.

For the latest community market report, SIGNUP HERE.

Rental Rates

• Metro Vancouver continues to record the highest average rent per square foot rate in Canada for the second quarter in a row.

• The lowest average per square foot rental rates among major cities tracked in Canada are in Edmonton despite rates in this market consistently increasing. Overall average rental rates for newer purpose-built rental buildings in Edmonton are up 34 percent from three years ago.

• Metro Vancouver was the only market to experience a decrease in per square foot rental rates, however only a modest decline. Most major markets in Canada experienced an increase in average rent per square foot values in Q1 2024.

• Downtown rental rates in the first quarter of 2024 were the highest in Metro Vancouver at $5.01 per square foot.

• Both Calgary and Ottawa continue to experience some of the strongest growth in downtown rental rates in Canada.

Vacancy

• Vacancy among stabilized projects in the first quarter was the lowest in Metro Vancouver at 1.2 percent with Calgary having the second lowest at 1.5 percent.

• Stabilized vacancy was highest in the GTHA and Kelowna at 2.8 and 2.7 percent, respectively.

• The GTHA continued to record the highest overall vacancy at 10.8 percent for the second quarter in a row as more than 1,700 units have been recently added to the market. Overall vacancy did go down in the GTHA, indicating strong rental demand and the ability to absorb new product in this market.

• Edmonton and Calgary were the only markets where overall vacancy increased in the first quarter of the year, which can be attributed to seven and eight new project launches occurring respectively over the past three months.

(By Zonda Urban)