The city-wide year-to-date (YTD) sales and new listings have decreased in past three months; however, the Airdrie market has remained as a seller’s market.
According to Calgary Real Estate Board (CREB) chief economist Ann-Marie Lurie, “the Airdrie market today is tight. While inventory levels remain low, purchasers are more cautious than they were a few months ago which is weighing on home prices. September saw a two per cent decrease, however YTD we are 16 per cent higher than last year.”
YTD stats in Airdrie indicate an average residential sale price of $475,817, up 16 per cent compared to the YTD 2021 price of $409,752. Total sales YTD are currently 2,126, up 14 per cent from 2021’s 1,861 sales. Airdrie is currently sitting at 1.10 months YTD inventory, which would indicate a seller’s market.
Current YTD days-on-the-market (DOM) stats are 20 days, as compared to last year’s average of 33 days YTD.
Detached single-family home sales are up 2.5 per cent to 1,263 YTD as compared to 1,234 sales in 2021, averaging 17 DOM YTD, compared to 2021’s average of 30 DOM.
Monthly inventory is 1.14 months, as compared to last year of 1.23, remaining a seller’s market. The average sales price for detached homes YTD is $576,552, up 21.3 per cent as compared to 2021’s average of $475,522. Sales have been less than last year's for the past five months.
Apartment home sales were up an astounding 85 per cent from last years, with 187 YTD sales as compared to 101 sales YTD in 2021. The current DOM is 40, compared to 2021’s average of 67. The average inventory for this year is 1.71 months (a seller’s market), down from 2021’s average of 4.38 months inventory. The average sold price YTD of $198,095 is up 9.3 per cent, as compared to year-end of 2021 ($181,311).
The semi-detached homes are in a balanced market for past two months with sales of 171 (up 27.6 per cent). The average price is $442,276, up 22.6 per cent from last year's ($360,762). DOM YTD have dropped to 17 from last year's 26.
Townhouse (row home) sales of 505 YTD are up 28 per cent from last year’s 392. DOM YTD is currently 20, compared to 36 DOM last year. Inventory is lower than last years (1.62 months) to 0.84 months inventory (seller’s market). The average sales price for townhouses YTD is $336,880, up 21 per cent compared to 2021’s average of $278,484.
Gary Lock is a local Realtor® with CIR Realty and has lived in Airdrie for the past 38 years.