January surge: Airdrie home prices jump 10 per cent compared to last year

Home prices jump 10 per cent in Airdrie comparing January 2023 to 2024.

The Calgary Real Estate Board (CREB) has released their monthly statistics when it comes to housing in Airdrie during January.

"Stronger detached and row sales were enough to offset pullbacks in the semi-detached and apartment sectors, causing total residential sales to increase over levels reported last January," stated CREB.

This, was possible thanks to a boost in new listings, according to CREB. However, the boost in new listings and sales prevented any significant shift in inventory levels, which was half of the levels typically seen in the market.

As of last month, the benchmark price for a residential home in Airdrie was $522,000, compared to $521,800 in December 2023.

"The most substantial price gains have occurred for apartment-style homes, which are the most affordable property type," stated CREB.

In comparison to the Calgary regional market, Airdrie is one of the more affordable places when it comes to detached homes. 

(Graphic credit to Calgary Real Estate Board (CREB))

"Supply challenges have been a persistent problem since last year. This month's gain in new listings has helped provide options to potential purchasers, supporting sales growth. However, the growth in sales prevented any significant adjustments in supply, keeping conditions tight and supporting further price growth," stated Ann-Marie Lurie, Chief Economist at CREB.

Cochrane's residential home price also went up to start off the new year climbing to $537,000. Okotoks did the exact same thing but climbed to $589.600.

Calgary's real estate market continues to be driven by strong migration into the province. 

Just recently, CREB released their 2024 predictions.

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