Housing prices in Airdrie are still heading in the wrong direction for first-time home buyers.
The Calgary Real Estate Board (CREB) has released their statistics for November house sales in Airdrie and prices are still favouring the seller.
According to CREB, gains in November sales were not enough to offset earlier pullbacks, leaving year-to-date sales down by over 26 per cent over last year's record levels.
"Much of the decline has been driven by the detached market, which has struggled with supply, especially in the lower price ranges."
New listings in November did improve over last year's levels, but, the sales-to-new listings ratio rose to 96 per cent, preventing any significant shift from the low inventory levels.
"With less than two months of supply, we continue to see upward pressure on home prices."
According to CREB, In November, the unadjusted benchmark price rose over the last month, reaching $524,500, a year-over-year gain of 11 per cent. In October, the benchmark price reached $521,400.
Year-to-date price gains have been the highest in the apartment sector at 17 per cent, with detached and semi-detached prices rising by nearly six per cent.
Our neighbours to the west, Cochrane, are also in the same boat as Airdrie, the unadjusted benchmark price reached $548,600 in November, compared to $539,900 in October.
Calgary saw the slightest of increases when it came to detached homes, now sitting around $699,500, while last month was sitting at $696,700
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