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
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.
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;
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.
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