Airdrie sees decrease in housing sales

Since May last year, Airdrie has seen a decrease in housing sales overall, according to the Calgary Real Estate Board (CREB).

CREB has released their monthly numbers for May, and statistics are still looking favourable for the seller, with prices rising.

"A boost in new listings compared to sales helped support a gain in inventory this month. However, with only 208 units available, levels are still half what we traditionally see in the market in May," stated CREB.

In Airdrie, detached homes made up around 70 per cent of the total inventory, with half of them priced under $700,000.

According to CREB, While Airdrie remains a relatively affordable alternative to Calgary for consumers, benchmark prices continue to rise over last month's and previous year's levels. The benchmark prices for detached properties varied from $651,000 to $289,000 for apartment-style homes.

Year over year, sales in Airdrie have declined by 6.7 per cent while new listings have increased by 6.9 per cent. That said, from the start of the year until now, sales have jumped 16.7 per cent.

The residential benchmark price in Airdrie is $549,600, which is up 9.8 per cent compared to May last year.

Cochrane, Airdrie's neighbour to the west, has seen a slightly higher growth when it comes to the residential benchmark price. It currently sits at $568,200, a 10.4 per cent gain since May last year.

South of Calgary, Okotoks has seen a slightly smaller growth of only 8.1 per cent year over year. With that in mind, the residential benchmark price is higher than Airdrie and Cochrane, sitting at $621,400.

In January, CREB released their 2024 predictions.

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