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.

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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.

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