Mahogany, Calgary - July 2026 Real Estate Report

Mahogany Real Talk: Your Home Is Worth Less Than the City Thinks - Here's the Proof

If you've been glancing at your city assessment and feeling pretty good about your Mahogany property, pump the brakes for a second. The numbers on the ground right now tell a different story, and you deserve to know what's actually happening before you make any big decisions.

The Vibe: What's Going On in Our Neighbourhood

Houses - Active Market, But Prices Are Pulling Back

Here's the honest picture for houses in Mahogany right now. Sales activity is actually picking up - 54 homes sold last month, which is 12.5% more than the month before. That sounds great. But the average sale price dropped to $747,873, down 6.9% from the previous month. More homes selling at lower prices is not the combo we want to see.

• Average sale price: $747,873 (down 6.9% from last month)
• Average list price right now: $819,703
• Price per square foot: $397
• Homes are selling for 97.88% of list price - buyers are negotiating
• Average days on market: 40 days
• Predicted market value: $811,985
• Estimated monthly rent: $3,600 with a 5.08% rental yield

That 40-day average is worth paying attention to. Our houses are sitting longer than in Auburn Bay (31 days) and Copperfield (35 days). When your neighbours down the road are moving faster, it tells you buyers have options and they know it. The market is taking a breather, and sellers need to price accordingly.

On the neighbourhood leaderboard, Mahogany houses rank 148 out of 233 Calgary neighbourhoods for growth. That puts us in below-average territory for appreciation right now. For price, we sit at 101 out of 220 - solidly above average. We're a premium address, but the growth engine has slowed down.

Condos - A Much Quieter Story

The condo side of Mahogany is where things get really interesting - and a little concerning if you own one. Only 3 condos sold last month, down 40% from the month before. The average sale price came in at $296,167, which is actually slightly below what condos are fetching in both Copperfield ($302,312) and Auburn Bay ($303,375). That's a tough spot for a neighbourhood that generally carries a premium reputation.

• Average sale price: $296,167 (down 11.8% from last month)
• Average list price right now: $344,900
• Price per square foot: $378
• Homes selling for 96.05% of list price - buyers have real leverage
• Average days on market: 131 days
• Predicted market value: $520,915
• Estimated monthly rent: $2,404 with a 3.86% rental yield

That 131-day average is the number that should stop you cold. Mahogany condos rank 67 out of 71 Calgary neighbourhoods for days on market. That means almost every other neighbourhood in the city is moving condos faster than we are. If you're a condo owner thinking about selling, you need a sharp price and a solid strategy - not wishful thinking.

One bright spot: the condo growth rate ranks 108 out of 216 neighbourhoods, placing us in above-average territory for appreciation potential. The long-term case for Mahogany condos isn't dead. The short-term reality is just slow.

The Secret Sauce: Why Your HonestDoor Price Matters More Than Your Assessment Right Now

Your city assessment is a snapshot from the past. It gets calculated once a year using data that's already months old by the time it lands in your mailbox. The market doesn't wait for paperwork.

Here's the gap we're talking about in Mahogany right now:

• Houses - Average city assessment: $845,660. Average HonestDoor Price: $801,701. That's a $43,959 difference. The HonestDoor Price is 5.20% lower than what the city has on file.
• Condos - Average city assessment: $479,606. Average HonestDoor Price: $511,816. Here the HonestDoor Price is actually 6.72% higher than the assessment - meaning condo owners may be sitting on more than the city is giving them credit for.

The HonestDoor Price updates in real time using actual transaction data. It's the real-world check against a static government number. If you're a house owner, your assessment may be giving you a false sense of security. If you own a condo, your assessment may actually be underselling you. Either way, you need the current number - not last year's guess.

The "So What?" - Thinking About Selling This Summer?

Let's be straight with each other. If you're a house owner in Mahogany and you're thinking about listing this summer, here's what the data is telling you:

• Buyers are paying below list price - that gap between $819,703 in listings and $747,873 in actual sales is real
• Your competition is sitting on the market for 40 days on average
• Nearby neighbourhoods are moving faster, which means buyers have alternatives
• The neighbourhood saw 247 total transactions in 2026 and ranks 4th in Calgary for transaction volume - there is real demand here, but price it wrong and you'll sit

If you own a condo and want to sell this summer, you need to go in with eyes open. A 131-day average and only 3 sales last month means the pool of active buyers is small. Pricing at or slightly below the HonestDoor Price of $520,915 - rather than anchoring to the assessed value of $479,606 - gives you the most accurate starting point for a real conversation with buyers.

The bottom line for Mahogany this summer: demand exists, but buyers have leverage. The sellers who win will be the ones who price from current data, not old assessments. Check your HonestDoor Price before you do anything else.

This information is all based on our opinions based on the information available to us. Everyone's situation may be different and you should reach out to us for more personalized information.