Mahogany, Calgary - September 2026 Real Estate Report

Mahogany Real Talk: Your Home Is Worth More Than the City Thinks - Or Less. Here's the Truth.

If you own a home in Mahogany and you're still going off your city assessment, you're working with old information. The city says the average house here is worth $845,660. HonestDoor says $812,709. That's a $32,951 gap - and it matters a lot if you're thinking about selling, refinancing, or just trying to figure out where you actually stand.

The Vibe: Houses vs. Condos in Mahogany Right Now

Houses - Strong Demand, But Watch the Signals

If you've been watching the "For Sale" signs around the lake, here's what's actually happening. Houses are moving. We saw 65 sales this month, with an average sale price of $755,884 - up 9.0% from last month. That's a real jump. But before you get too excited, listings are sitting at $727,596 on average, and homes are spending about 33 days on market before selling.

• Average sale price: $755,884 (up 9.0% month over month)
• Average list price: $727,596
• Price per square foot: $400
• Sale-to-list ratio: 98.45% - buyers are negotiating, not overbidding
• Days on market: 33
• Properties sold this month: 65
• Predicted market value: $800,322
• Estimated rent: $3,559 per month
• Rental yield: 5.10%

We're selling faster than Auburn Bay (38 days) but a touch slower than Copperfield (32 days). The predicted market value of $800,322 is actually dipping slightly below the 3-month moving average of $804,669. That's not a crash - it's a market taking a breather. Buyers are paying below list price, and values are nudging down 0.17% recently. On the neighbourhood leaderboard, Mahogany houses rank 102 out of 238 for growth - solidly above average in Calgary, but not leading the pack right now.

Condos - A Cooling Story Worth Paying Attention To

The condo side of Mahogany is a different conversation. Only 6 condos sold this month, and the average sale price dropped 11.7% to $403,250. Listings are averaging $414,760, meaning sellers are already pricing above where deals are closing. Condos are sitting for 59 days on average - longer than both Auburn Bay (38 days) and Copperfield (32 days). That's a clear signal the condo market here is cooling.

• Average sale price: $403,250 (down 11.7% month over month)
• Average list price: $414,760
• Price per square foot: $507
• Sale-to-list ratio: 98.12% - buyers have room to negotiate
• Days on market: 59
• Properties sold this month: 6
• Predicted market value: $511,314
• Estimated rent: $2,374 per month
• Rental yield: 3.86%

Here's the interesting twist though - the HonestDoor Price for condos is $512,252, which is actually 6.81% higher than the city's assessed value of $479,606. The city is undervaluing Mahogany condos. On the leaderboard, condo growth ranks 96 out of 216 - above average - but the days-on-market rank of 51 out of 75 tells us these units are among the slower sellers in Calgary right now. The predicted value is also slipping below its 3-month average of $514,682.

The Secret Sauce: Why Your HonestDoor Price Is the Number That Actually Matters

Your city assessment is a snapshot taken months ago, based on data that's even older than that. It does not move with the market. The HonestDoor Price does. It updates in real time, pulling from actual transactions - like the 323 house deals and 34 condo deals that happened in Mahogany in 2026 alone.

For houses, the city says $845,660. HonestDoor says $812,709. If you're a buyer using the assessment as a benchmark, you could be overpaying by nearly $33,000 without realizing it. For condo owners, the flip is true - the city's $479,606 assessment is actually underselling you by over $32,000 compared to the HonestDoor Price of $512,252.

Mahogany has 4,461 assessed properties for houses and 880 for condos. That's a lot of neighbours who may be making decisions based on a number that doesn't reflect today's reality. Check your HonestDoor Price before you do anything else.

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

Here's the straight answer depending on what you own.

If You Own a House in Mahogany

This summer is still a reasonable window, but you need to price smart. The 9.0% month-over-month jump in sale prices looks exciting, but the predicted value is trending down slightly and buyers are not paying over list. At 98.45% of list price, there's negotiation happening. Price your home at or just below market, not above it. Homes priced right are moving in 33 days. Overprice it and you'll be watching it sit. Your rental yield of 5.10% also means holding the property as a rental is a genuinely solid backup plan if the sale price doesn't hit your number.

If You Own a Condo in Mahogany

Be honest with yourself. Six sales in a month and 59 days on market is a slow market. Prices dropped 11.7% in one month. If you need to sell this summer, price aggressively - buyers know they have options. The good news is your HonestDoor Price of $512,252 suggests real underlying value that the city's assessment misses. Use that as your anchor, not the assessment. And if you can wait, the 3.86% rental yield means renting it out while the market finds its footing is worth running the numbers on.

The Neighbourhood Context

Mahogany is still one of the most active neighbourhoods in Calgary - a total transaction rank of 2 out of all Calgary neighbourhoods for houses is not a small thing. We are a high-volume market. Auburn Bay and Copperfield are both cheaper entry points for buyers, which means some demand that might have come to us is going there instead. Knowing that helps you price competitively if you're selling this season.

Bottom line - Mahogany is not a market to guess in right now. Pull your HonestDoor Price, compare it to what's actually selling on your street, and make your move with real numbers in hand.

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.