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.

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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.

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RARE TO FIND 3 BEDROOMS + corner unit + HUGE patio + gas BBQ hookup in LAKE community Auburn Bay. Builder size 957 sq.ft., this unit is one of the best unit in the complex. Very bright and modern with great layout of 3 Bedrooms, cozy electric wall Fireplace, spacious Master Bedroom has a walk through Closet and perfect Ensuite with extra counter space & oversized shower. Open Kitchen with Quartz Countertops, Stainless Steel Appliances, In-floor Heat, and In-suite Stacked Laundry. Enjoy the HUGE outdoor patio with gas BBQ in Summer, gas is included in condo fee-NEVER fill up BBQ tank anymore! Covered Balcony with extra space for patio furniture. Ideally located just a stroll away from Auburn Lake (Access included), New South Campus Hospital, Public Transit, Shopping, Restaurants and MANY schools. Buy now and Enjoy the Summer at the Lake! Swimming, Tennis, Beach, Playground, Gym, Club Programs and much more. Make it yours today!

3,000 SF Living Space | 8 Beds 3.5 Baths| Illegal Suite | Private Covered Balcony | Metal Roof | This is it ! You have found a spacious home for your family or a perfect rental investment ! Located in a quite and beautiful street in Huntington Hills NW. This home has been loved and extremely well-kept from the original owner to the current one. While some upgrades have been made including Vinyl Windows, New LVP Flooring, Metal Roof, New Bathroom and Kitchen in Basement, High Efficiency Furnace, the majority of the home retains its original charm, offering a unique blend of nostalgia and modern living. The Main floor consist of large living room, dining area, 2 very good size bedrooms, a separate laundry room which leads to the upstairs with another 2 bedrooms, a servery ,a 4pcs bath with Jetted Tub, and a unique private covered balcony ! On to the basement, there are 4 bedrooms with all new egress windows, a 3 pcs bath, a half bath, and a new kitchen. Never need to worry about hot water as there are 2 hot water tank in the home. As you step outside, you'll discover a private yard that provides a peaceful sanctuary away from the hustle and bustle of everyday life. The yard features a garage with a carport, ensuring your vehicles are protected from the elements, and a sundeck above, where you can soak up the sun and enjoy the fresh air. And lastly, with the amazing location, everything is just a short distance away, from grocery stores to recreational facilities with excellent of all level of school. Act quick, you don't wanna miss this incredible home !

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.

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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)

TOP FLOOR! Welcome to this SOUTHWEST facing 1 bedroom, 1 bathroom plus den condo in the amazing community of Sage Hill surrounded by amazing walking paths, parks and schools. This condo features everything you will need with a beautifully finished kitchen with granite counter tops, tiled back splash, microwave/hood vent combo for maximum cupboard space, a full sized pantry, stainless steel appliances and room for a dining table! It also features a large living area for relaxing or entertaining with a large window with an abundance of natural light and a ceiling fan for maximum air circulation. A large bedroom with a walk-in closet, a 4 piece bathroom and front load stacked in-unit washer and dryer. The den is the perfect spot for your at home office, nestled in the front corner away from the living room TV for quiet privacy! Enjoy the morning sun on the northeast facing balcony that overlooks a ravine and not just other buildings! Take advantage of all the floor space in this unit with the in floor heating system and SW facing windows, you get natural light all day! Stay warm in the winter with the HEATED & SECURED underground parking and a secured bike storage area underground as well. This professionally managed building is very well taken care of and shows it! $1550/month Lease is expired on July 31, 2024. LOOKS LIKE NEW. May God bless the apartment!

Seton Community Market Report

Overview: Seton continues to experience a dynamic real estate market as of March 2024. The area has seen significant growth over the past year, driven by new developments, an increase in demand for housing, and a vibrant community atmosphere.

Market Trends:

1. Home Prices:

   • The average home price in Seton has risen by approximately 8% year-over-year, currently sitting around $470,625. This upward trend reflects both demand and a limited inventory of homes.

   • Detached single-family homes are particularly popular, with prices averaging $712,433, while townhomes are averaging $468,698.

2. Sales Activity:

   • March saw a notable increase in sales activity, with approximately 31 homes sold, increased from last year.

     6 SOLD Detached houses $610,000 - $950,000.

     1 SOLD Duplex house $595,000.

     7 SOLD Townhouses $268,000(Bungalow style) - $569,900.

     17 SOLD Apartments $288,000(1-bed-1-bath) - $469,900 (3-bed-2-bath).

   • The average days on market for homes decreased to 25 days, indicating a competitive environment where homes are selling quickly.

3. Inventory Levels:

   • The inventory of available homes remains low, with only about 58 properties listed for sale in March.

   • New construction continues to contribute to inventory but has not yet fully met the growing demand.

4. Buyer Demographics:

   • First-time homebuyers make up a significant portion of the market, drawn by affordable options in townhomes and smaller single-family homes.

   • There’s also a noticeable interest from young families and professionals seeking proximity to amenities and schools.

5. Market Outlook:

   • Analysts predict that the demand for homes in Seton will continue to rise throughout 2024, driven by ongoing economic development and an influx of residents.

   • Interest rates, while fluctuating, remain historically low, which may further stimulate buyer interest despite concerns about inflation.

Community Developments:

• New retail spaces and community centers are in the works, enhancing the overall appeal of Seton. These developments are expected to attract more residents and increase the demand for housing.

Conclusion: Seton’s real estate market in March 2024 is characterized by rising prices, low inventory, and strong demand, particularly among first-time buyers. As the community grows and new developments continue, Seton remains an attractive option for both buyers and investors in the Calgary area.

For more detailed insights or specific property listings, feel free to reach out!

Contact us for a Free Home Evaluation.

For latest community market report, SIGNUP HERE.

March 2024 was a dynamic month for the Auburn Bay real estate market in SE Calgary, reflecting continued interest in this family-oriented community. With its array of amenities and recreational opportunities, Auburn Bay remains a sought-after location for buyers.

Market Highlights

• Sales Activity: In March, there were approximately 52 residential sales in Auburn Bay, a slight increase compared to February. This uptick indicates a growing momentum as the spring market begins to unfold.

• Property Types:

  • Single-Family Homes: Started as low as CAD 555,000 to highest $1,280,000. These homes are popular among families seeking spacious living and access to community amenities.

  • Duplex houses: SOLD between CAD $557,000 and $664,000.

  • Townhomes: SOLD between CAD $340,000 and $520,000, townhomes are gaining traction among first-time buyers and young families looking for affordable options without compromising on space.

  • Condos: The condo SOLD prices were between $277,000 AND $449,900, appealing to those seeking lower maintenance living and proximity to amenities.

• Days on Market: Homes in Auburn Bay sold relatively quickly, with an average of 30 days on the market. This indicates a competitive environment, where well-priced listings are attracting buyers swiftly.

Buyer Trends

• Demographics: The buyer pool in Auburn Bay remains diverse, comprising first-time homebuyers, young families, and investors. The community’s recreational offerings, including parks and the lake, appeal to families seeking an active lifestyle.

• Property Preferences: While single-family homes dominate sales, there is notable interest in townhomes and condos, particularly among those looking for more affordable housing options.

Economic Factors

• Interest Rates: Stable interest rates have provided favorable conditions for buyers, encouraging them to make purchases without the pressure of rising borrowing costs.

• Employment Landscape: Continued job growth in Calgary’s economy has bolstered consumer confidence, allowing more potential buyers to enter the market.

Outlook

As we move into April and the spring market heats up, the Auburn Bay real estate market is expected to remain active. With demand still strong and inventory levels stabilizing, price growth may continue, particularly for desirable properties.

Auburn Bay, a desirable lake community in Southeast Calgary, continues to attract buyers in February 2024. The area’s blend of recreational amenities, schools, and family-friendly environment makes it a sought-after location.

Property Types

The Auburn Bay real estate market includes a variety of property types, catering to different buyer needs:

1. Detached Homes

   • Price Range: $540,000 - $1,300,000.

   • Sales: 19 homes sold

   • Days on Market (DOM): 20 days

2.  Duplex Homes

   • Price Range: $469,000 - $534,000.

   • Sales: 2 homes sold

   • Days on Market (DOM): 20 days

3. Townhouses

   • Price Range: $353,000 - $513,000

   • Number of Listings: 25

   • Sales: 9 townhouses sold

   • DOM: 18 days

4. Condos

   • Price Range: $260,000 - 440,000

   • Number of Listings: 20

   • Sales: 16 condos sold

   • DOM: 25 days

Market Trends

• Increased Demand: The Auburn Bay market has seen a steady increase in buyer interest, particularly in single-family homes, which are often the most competitive.

• Quick Turnaround: Properties are selling faster compared to previous months, with average DOM decreasing, indicating strong demand and competitive offers.

• Price Stability: While prices have remained stable, slight increases in single-family home prices reflect ongoing demand and limited inventory.

Conclusion

The Auburn Bay real estate market in February 2024 is characterized by strong buyer interest, particularly in single-family homes, with properties selling quickly. As the market evolves, buyers and sellers alike should stay informed of trends and pricing dynamics.