Auburn Bay Community Real Estate Market Report - July 2024

Auburn Bay Real Estate Market Report

Overview: Auburn Bay, a vibrant community in southeast Calgary, continues to show strong real estate activity as we reach the midpoint of 2024. Known for its beautiful lake, parks, and family-friendly amenities, the area remains a desirable choice for both first-time buyers and families.

Market Performance:

• Sales Activity: July 2024 saw a moderate increase in home sales compared to the same month last year. A total of 46 homes were sold, reflecting a 10% increase year-over-year. This rise can be attributed to a combination of strong demand and limited inventory.

• Price Range:

  • 21 SOLD Detached houses $587,500-$1,370,000;

  • 1 SOLD Duplex house $540,000;

  • 8 SOLD Townhouses $375,000(Bungalow style)-$510,000;

  • 16 SOLD Apartments $290,000-$412,000;

• Days on Market: Homes in Auburn Bay averaged 28 days on the market before selling, a decrease from 32 days in July 2023. This suggests a competitive market, with buyers acting swiftly on available listings.

Inventory:

• Current Listings: As of July 2024, there were 70 active listings in Auburn Bay, a slight decrease from 80 in the same period last year. The lower inventory has contributed to the upward pressure on prices, as buyers face fewer options.

• Type of Homes: The majority of sales were single-family homes, accounting for about 70% of transactions, with townhomes and condos making up the remainder. The demand for single-family homes continues to outpace supply, driving competition.

Market Trends:

• Buyer Demographics: The buyer pool remains diverse, with a mix of young professionals, families, and retirees drawn to the community's amenities and lifestyle.

• New Developments: Continued investment in infrastructure and new residential projects is anticipated, which may impact future inventory levels and pricing dynamics.

Conclusion: The real estate market in Auburn Bay is currently favorable for sellers, with strong demand and rising prices. Buyers should act promptly to secure homes in this sought-after community. As we move into the latter half of 2024, monitoring inventory levels and market trends will be essential for both buyers and sellers.

Recommendations:

• For Buyers: Stay proactive and consider pre-approval for mortgages to strengthen your position in a competitive market.

• For Sellers: Proper staging and pricing strategies can capitalize on the current demand, maximizing return on investment.

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