When it comes to housing prices in Airdrie, April did not get any better.
The Calgary Real Estate Board (CREB) released their monthly stats showing the difference when comparing months.
While new listings decreased in April compared to the previous month, sales increased slightly, causing the sale-to-new listings ratio to once more approach 100 per cent.
This is the lowest April reported inventory level since 2007, according to CREB.
“While sales activity is performing as expected, the steeper pullback in new listings has ensured that supply levels remain low,” said CREB Chief Economist Ann-Marie Lurie. “The limited supply choice is causing more buyers to place offers above the list price, contributing to the stronger than expected gains in home prices.”
While conditions are not as tight as last April, with one month of supply, conditions continue to favour the seller.
"The benchmark price was $502,000 as of April, up from the $480,200 reported in January. It's still about 2 per cent below the all-time high of $510,700 set in that same month in 2022," stated CREB.
Home prices are under pressure to rise compared to earlier this year because of a lack of supply compared to demand
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