A good way to explain housing prices in Airdrie is what Shania Twain once said, "I'm going up". Airdrie housing prices are still on the rise and favouring the seller.
The Calgary Real Estate Board (CREB) has released their statistics for October house sales in Airdrie.
"Sales in the city eased in October, contributing to the year-to-date decline of 29 per cent. Much of the decline has been driven by detached home sales," stated CREB.
Some sharp declines in home sales below $500,000 have been attributed to a lack of supply choice in the lower price categories.
"While Inventory levels have improved over last year's low levels, the growth was driven by homes priced above $500,000."
Even though changes in inventory and sales levels have led to a rise in the months of supply over the past month, conditions are still tight and could lead to future price increases. Currently, there are less than two months of supply.
In October, the benchmark price rose from last month, reaching $521,400, a year-over-year gain of nearly 10 per cent. Last month's benchmark price was $518,000.
Cochrane also saw a benchmark price increase, going from $532,700 to $539,900.
Calgary saw the slightest of increases when it came to detached homes, now sitting around $696,700, while last month was sitting at $696,100.
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