Home sales in 2020 continued to surge through the second half of the year in Airdrie, resulting in an annual gain of 18 per cent, with annual sales for the calendar year at 1,407 units. The pace of sales growth has caused inventories to fall, moving from a "balanced" market in December to a sellers' market in January and February. A sellers' market is defined as having an inventory of two months or less.
November 2020 until the end of February have been the best sales months in Airdrie for the last 10 years. Airdrie’s average 2020 resale price was $378,010, which is up 1.5 per cent compared to 2019's year-to-date (YTD) average of $372,253.
The first two months of 2021 have been exceptional for real estate statistics in Airdrie, with 265 sales compared to 164 during the same two months of 2020 – an increase of 62 per cent YTD. The largest gain in YTD sales for 2021 has occurred in the $400,000 to $500,000 price range.
Single-family detached homes for 2021 YTD are up 49 per cent, at 176 sales, with an inventory of 153 homes. This puts the detached homes for the first two months in a sellers' market with 1.74 months of inventory. The average price is $466,855, which is up 12.5 per cent. According to the Calgary Real Estate Board (CREB), the detached sector is responsible for most of the price growth in Airdrie.
Attached-home sales prices are down 21 per cent YTD with only 15 sales, mostly due to a 68 per cent decrease in inventory. Attached homes are also in a sellers' market, with 1.2 months of inventory. The average price of attached homes in Airdrie sits at $325,640 up 3.5 per cent from last year YTD.
Townhouse sales have had an exceptional increase of 253 per cent, with 53 sales YTD compared to last year's 15 sales in the same timeframe. Inventory is down 20 per cent, moving townhouses toward a sellers' market with 2.13 months of supply. The average townhouse price YTD is $247,913, a decrease of 5.1 per cent from last year at this time.
Apartment/condominium sales are up 75 per cent for 2021 YTD with 21 sales. This market is still struggling in Airdrie, as inventory is up 15 per cent YTD, leaving the apartment market just inside the buyers' market classification of 4.38 months of inventory. However, that is still significantly better than 2020. The average YTD sale price for apartments and condos is $186,424, which is a drop of 1.5 per cent from last year.
New home builds for 2020 year-end took a drop in Airdrie, with only 489 new builds, down from 770 new builds in 2019 and 701 new builds in 2018. The last census for Airdrie was back in 2019 and determined there are 70,564 people living in the city.
Regarding the most expensive local home sales, there were two homes sold for more than $1 million in 2020, with the homes located in Coopers Crossing.
—Submitted by Gary Lock, a local REALTOR® with CIR Realty who has lived in Airdrie for the last 36 years.