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
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.
Pricing:
23 SOLD Detached houses $465,000-$1,325,000;
2 SOLD Townhouses $400,000-$426,000.
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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