Like most things in 2022, house prices went up by 10 per cent, according to the Calgary Real Estate Board's (CREB) December sales statistics.
Since April, Airdrie's sales have decreased, primarily as a result of the sharp dip in detached home sales. Sales decreased compared to the previous year's levels in December as well.
Despite recent reductions, total residential sales for the year have climbed by 7 per cent and reached a new high of 2,469 units. Some of the causes behind the record sales in 2022 include regional population growth, along with the relative affordability of properties in Airdrie compared to Calgary.
This has supported some recent increases in inventory levels above the abnormally low levels of last year. The months of supply have been trending upward from the strong seller's market conditions indicated earlier in the year as a result of recent revisions in both sales and inventory levels.
However, with fewer than two months' worth of supply, conditions are still rather tight.
From its peak in April, the Airdrie benchmark price for December has decreased by more than 6 per cent. The level from last year is still 12 per cent greater than this one. The yearly benchmark price in 2022 was $489,558. That is approximately 20 percent more than the amount from the previous year.
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