Auburn Bay, a sought-after community in SE Calgary, has seen a dynamic real estate market in April 2023. Known for its lake, parks, and family-friendly environment, the area continues to attract buyers looking for various property types. Total 44 sales.

Property Types:

1. Detached Homes

   • Price range: $558,000 - $1,380,000

   • Sales: 17 homes sold

   • Days on Market (DOM): 18 days

2. Duplex Homes

   • Price range: $459,000 - $585,000

   • Sales: 7 homes sold

   • Days on Market (DOM): 8 days

3. Townhouses

   • Price range: $315,000 - $425,000

   • Sales: 5 townhouses sold

   • DOM: 12 days

4. Condos

   • Price range: $210,000 - $379,900

   • Number of Listings: 22

   • Sales: 15 condos sold

   • DOM: 30 days

Market Trends:

• Demand: The market remains competitive, especially for single-family homes, which have seen a quicker turnover. Many homes are selling at or above asking price due to limited inventory and high demand.

• Inventory Levels: The number of active listings has decreased slightly compared to the previous month, contributing to the competitive environment.

• Buyer Profiles: First-time homebuyers and families are the primary buyers, drawn by the community's amenities and school options.

Conclusion: April 2023 showcased a robust real estate market in Auburn Bay SE Calgary, characterized by strong demand and relatively quick sales across all property types. With continued interest in the area, potential sellers may find this an opportune time to list their properties.

For those considering buying in Auburn Bay, it's advisable to act quickly due to the competitive nature of the current market.

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Auburn Bay Community Market Report

Overview: Auburn Bay, a sought-after lake community in southeast Calgary, has seen notable developments in its real estate market as of March 2023. Known for its scenic views, family-friendly environment, and recreational amenities, Auburn Bay continues to attract a diverse range of buyers.

Market Trends:

• Price Range:

  18 SOLD Detached houses $503,500 - $2,044,000 back on the lake;

  3 SOLD Duplex houses $493,000 - $543,000;

  8 SOLD Townhouses $275,000 - $400,000;

  10 SOLD Apartment $230,000 - $345,000.

• Sales Activity: 39 properties were SOLD in March. The market experienced a 5% increase in sales volume compared to the same month last year. Properties in Auburn Bay are selling quickly, with many listings receiving multiple offers, indicating a competitive market.

• Property Types: The market comprises a variety of property types, including single-family homes, townhouses, and condos. Single-family homes remain particularly popular among families seeking more space.

Community Features:

• Amenities: Auburn Bay boasts a range of amenities, including the Auburn House community center, which provides recreational facilities and hosts numerous community events. The lake itself offers opportunities for swimming, fishing, and seasonal activities, enhancing the lifestyle of residents.

• Shopping and Dining: The area features convenient access to shopping centers, restaurants, and local businesses. Residents enjoy a mix of grocery stores, cafes, and eateries that contribute to the vibrant community atmosphere.

• Transportation: The community is well-connected via major roadways and public transit options, making commuting to downtown Calgary and surrounding areas easy for residents.

Community Engagement:

• Events: March 2023 saw several community-focused events, such as family-friendly activities at the Auburn House and local markets. These events foster community spirit and encourage resident involvement.

• Sustainability Initiatives: Auburn Bay is committed to environmental stewardship, with initiatives aimed at preserving green spaces and promoting sustainable practices. Community members actively participate in local conservation efforts.

Outlook:

The outlook for Auburn Bay’s real estate market appears positive as demand remains strong. Inventory levels are slightly low, contributing to a competitive environment. As spring approaches, it’s expected that more listings will come to the market, potentially easing some of the demand pressures.

Conclusion:

Auburn Bay SE Calgary's real estate market in March 2023 is characterized by steady growth and vibrant community life. With increasing home prices and active sales, it remains an attractive option for buyers looking for a blend of modern living and recreational opportunities. Prospective buyers and investors should consider Auburn Bay as a promising community for both residence and investment.

Contact us for a Free Home Evaluation.

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Seton Community Market Report

Overview

Seton, a vibrant and growing community located in Calgary, Alberta, has continued to show strong real estate activity in March 2023. The neighborhood, known for its modern amenities and proximity to shopping, parks, and schools, remains a desirable location for both buyers and investors.

Market Highlights

• Sales Activity:

  • In March 2023, Seton recorded a total of 25 home sales, a slight increase from the previous month. This reflects a robust demand in the market, particularly for family homes and townhouses. 

    4 SOLD Detached houses $575,000 - $839,000.

    3 SOLD Duplex houses $539,000 - $585,000.

    5 SOLD Townhouses $239,900 - $494,900.

    13 SOLD Apartments $227,500 - $399,000.

  • The average days on market for homes sold was approximately 35 days, indicating a competitive environment where properties are being purchased relatively quickly.

• Pricing Trends:

  • The average sale price for homes in Seton reached $424,360, up 5% compared to March 2022. This increase reflects the continued appreciation of property values in the area.

• Inventory Levels:

  • The current inventory of homes for sale stands at 55 listings, providing a balanced market. However, with the ongoing demand, homes are selling faster than new listings are being added, leading to potential shortages in certain segments.

Neighborhood Features

Seton boasts a variety of amenities that appeal to residents:

• Shopping and Dining: The nearby Seton Urban District offers a range of retail options, restaurants, and entertainment venues, making it a hub for local residents.

• Parks and Recreation: Numerous parks and green spaces provide outdoor recreational opportunities, contributing to the community's family-friendly atmosphere.

• Transportation: Seton is well-connected by major roads and public transit, making commuting to downtown Calgary convenient.

Conclusion

The real estate market in Seton continues to thrive in March 2023, driven by strong demand and limited inventory. With a variety of housing options and excellent community amenities, Seton remains an attractive choice for homebuyers and investors alike. As we move into the spring months, we anticipate continued interest in the area, potentially leading to further price appreciation and competitive sales activity.

Recommendations

For potential buyers, it’s advisable to act quickly and be prepared with financing, as properties are moving swiftly. Sellers may consider listing their homes to capitalize on the current demand and favorable market conditions.

Contact us for a Free Home Evaluation.

For latest community market report, SIGNUP HERE.

Effective as of January 1, 2023, the Prohibition on the Purchase of Residential Property by Non-Canadians Act (the “Act”) prevents non-Canadians from buying residential property in Canada for 2 years.

Two-year extension to the Prohibition on the Purchase of Residential Property by Non-Canadians Act

On February 4, 2024, the Government of Canada announced its intention to extend the existing ban on foreign ownership of Canadian housing for an additional two years, to January 1, 2027.  For more information, please refer to the news release issued by the Department of Finance Canada. Due to the extension of the legislation by two years, the government continues to welcome feedback from stakeholders to address issues that may arise from the extension.

residential property means any real property or immovable, other than a prescribed real property or immovable, that is situated in Canada and that is

• (a) a detached house or similar building, containing not more than three dwelling units, together with that proportion of the appurtenances to the building and the land subjacent or immediately contiguous to the building that is reasonably necessary for its use and enjoyment as a place of residence for individuals;

• (b) a part of a building that is a semi-detached house, rowhouse unit, residential condominium unit or other similar premises that is, or is intended to be, a separate parcel or other division of real property or immovable owned, or intended to be owned, apart from any other unit in the building, together with that proportion of any common areas and other appurtenances to the building and the land subjacent or immediately contiguous to the building that is attributable to the house, unit or premises and that is reasonably necessary for its use and enjoyment as a place of residence for individuals; or

• (c) any prescribed real property or immovable. (immeuble résidentiel)

• Exception — persons

  (2) Subsection (1) does not apply to

  • (a) a temporary resident within the meaning of the Immigration and Refugee Protection Act who satisfies prescribed conditions;

  • (b) a protected person within the meaning of subsection 95(2) of that Act;

  • (c) an individual who is a non-Canadian and who purchases residential property in Canada with their spouse or common-law partner if the spouse or common law-partner is a Canadian citizen, person registered as an Indian under the Indian Act, permanent resident or person referred to in paragraph (a) or (b); or

  • (d) a person of a prescribed class of persons.

• Marginal note:Exception — circumstances

  (3) Subsection (1) does not apply in prescribed circumstances.

For more information, please read the link here.

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 In February 2023, Auburn Bay in SE Calgary demonstrated a vibrant real estate market, characterized by steady activity across various property types. The community's appeal, with its lake and recreational facilities, continues to attract a diverse range of buyers. Total 34 sales.

Property Types:

1. Detached Homes

   • Price range: $449,000 - $865,000

   • Sales: 11 homes sold

   • Days on Market (DOM): 18 days

2. Duplex Homes

   • Price range: $435,000 - $533,000

   • Sales: 7 homes sold

   • Days on Market (DOM): 8 days

3. Townhouses

   • Price range: $192,000 - $406,500

   • Sales: 5 townhouses sold

   • DOM: 12 days

4. Condos

   • Price range: $229,000 - $394,900

   • Number of Listings: 22

   • Sales: 11 condos sold

   • DOM: 30 days

Market Trends:

• Demand: The market exhibited strong demand, particularly for single-family homes, which are in high demand among families seeking community-oriented living.

• Inventory Levels: The inventory of homes for sale was relatively stable, though the demand outpaced new listings, leading to quicker sales.

• Buyer Profiles: The primary buyers included first-time homebuyers and young families attracted by the community's amenities and lifestyle offerings.

Conclusion: February 2023 revealed a healthy real estate market in Auburn Bay SE Calgary, with competitive sales and a variety of property options. The community's desirability continues to drive interest, making it a favorable time for sellers. For potential buyers, quick action is recommended due to the active market conditions.

Elevated lending rates are expected to weigh on sales in 2023, bringing levels down from the record-high in 2022. However, with forecasted sales of 25,921 in 2023, levels are still expected to be higher than the activity reported before the pandemic. Recent growth in migration and employment is expected to help offset the impact of higher lending rates, keeping annual sales activity higher than levels achieved throughout the 2015 to 2019 period.

The growth in new listings in 2022 was not enough to offset the gains in sales and supply levels have remained low, especially for lower-priced product. The higher lending rates are also expected to weigh on listings growth in 2023 as it has become more challenging for a move up buyer. While improved starts are expected to help support supply growth, thanks to the strong migration levels, supply levels are not expected to report significant gains.

The low starting point and limited upward pressure on supply in 2023 is expected to prevent any significant downward pressure on prices as demand normalizes. However, conditions are expected to vary depending on price range and property type. Higher-priced homes are expected to see some downward price pressure as that segment of the market is not experiencing the same supply constraints. Meanwhile, supply declines relative to sales for lower priced properties are expected to continue to support modest price growth. Declines in the upper end of the market are expected to offset gains in the lower end of the market as total residential prices in Calgary are expected to stabilize in 2023.

TOP CONSIDERATIONS FOR 2023:

LENDING RATES With rates not expected to ease until 2024, higher lending rates throughout 2023 are expected to weigh on housing market demand.

MIGRATION Recent gains in migration are expected to offset the impact of higher lending rates, keeping sales activity stronger than pre-pandemic levels.

EMPLOYMENT Recent job growth in industries beyond what was impacted through the pandemic is expected to prevent a more significant adjustment in sales activity.

SUPPLY Low inventory levels especially for lower priced product is expected to prevent widespread price declines in our city.

Please read the full forecast here.

December 2022 in Auburn Bay, a sought-after community in SE Calgary, showcased a dynamic real estate market. The area continues to attract buyers due to its family-friendly environment, proximity to amenities, and beautiful lake. Total 17 properties were sold.

Detached Houses

• Sales: 6 detached homes sold

• Average Days on Market: 59 days

• Price Range: $479,500 - $1,500,000

• Market Trend: The market remained competitive with a mix of new listings and existing homes. Homes priced competitively tended to sell quickly.

Duplexes

• Sales: 1 duplexes sold

• Average Days on Market: 25 days

• Price: $461,500

• Market Trend: Duplexes experienced strong demand, especially among first-time buyers, with many homes receiving multiple offers.

Townhouses

• Sales: 6 townhouses sold

• Average Days on Market: 22 days

• Price Range: $271,500 - $400,000

• Market Trend: Townhouses showed steady activity, appealing to both young professionals and small families. The inventory remained relatively low, supporting price stability.

Apartments

• Sales: 4 apartments sold

• Average Days on Market: 55 days

• Price Range: $287,000 - $374,900

• Market Trend: The apartment market was slower compared to other property types, with more inventory available, leading to longer days on market.

Conclusion

December 2022 marked a robust end to the year for the Auburn Bay real estate market, with a variety of property types appealing to different segments of buyers. The overall trend indicates a healthy market, though potential buyers should be prepared for competitive situations, especially with detached homes and duplexes. As we move into 2023, monitoring inventory levels and interest rates will be crucial for understanding future market dynamics.

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Auburn Bay Real Estate Market Report

November 2022 demonstrated a steady real estate market in the Auburn Bay community of Calgary, characterized by consistent activity and buyer interest. Renowned for its picturesque lake, extensive amenities, and vibrant community spirit, Auburn Bay continues to attract a diverse range of homebuyers.

Market Overview: In November, Auburn Bay recorded 24 home sales.

• 17 SOLD Detached houses $489,500 - $1,555,000;

• 1 SOLD Duplex house $515,000;

• 4 SOLD Townhouses $353,000 - $378,500;

• 2 SOLD Apartments $242,000 - $312,000.

Inventory and Trends: Currently, there are 45 active listings in Auburn Bay, providing a variety of options, including single-family homes, townhouses, and condos. Homes are selling at an average of 22 days on market (DOM), indicating a competitive environment where well-priced properties attract significant attention. Listings that are updated and well-presented are often receiving multiple offers, further demonstrating the community's appeal.

Community Insights: Auburn Bay's charm is enhanced by its comprehensive amenities, including parks, pathways, and the lake, which serves as a hub for outdoor activities and social events. The neighborhood fosters community engagement through seasonal events, strengthening connections among residents. The availability of local schools, shopping centers, and dining options adds to the quality of life for families.

Looking Ahead: As we enter December, the Auburn Bay real estate market is expected to remain steady. While the holiday season may introduce some seasonal fluctuations, the community's appealing features and strong sense of belonging are likely to sustain buyer interest. Sellers can take advantage of the current demand, while buyers should remain proactive to capture opportunities in this vibrant neighborhood. Overall, Auburn Bay continues to thrive as a prime community within Calgary’s real estate landscape.

Contact us for a Free Home Evaluation.

For the latest community market report, SIGNUP HERE.