Airdrie residential sales YTD (year to date) are 1628, up from last year’s 1304 units, and nearly exceeding the total sales for all of 2014 (1695 units sold). The good news is all types of products are now in a Seller’s Market. According to CREB, “Earlier in the year Airdrie’s real estate market reported some of the highest monthly price gains ever seen, so as interest rates rise and consumers take a step back, it is not a surprise that we are seeing some adjustments in prices. While prices have trended down for the past few months, they remain over 22% higher than levels reported last year.
CREB’s YTD stats indicate an AVERAGE Airdrie residential home price of $482,042, as compared to 2021 at $410,795, up 17.4% from last year. 2022 YTD monthly inventory is .81 months (Seller’s Market – defined as under 2 months of inventory), compared to 3.51 months for 2020 (Balanced Market – 2-4 months) and 5.04 months in 2019 (Buyer’s Market). The YTD days-on-the-market (DOM) stats are sitting at 17 days, down from 33 days last year.
Detached single-family home TOTAL sales are 982, up nearly 10% from 893 in 2021, averaging 15 days on market YTD, down from 2021’s 31 DOM. The average sales price for detached homes YTD is $582,139 as compared to 2021’s average of $471,764. Detached homes are sitting at .83 months of inventory.
Townhouse (row) sales are up 51% to 387 YTD as compared to 256 (Jan-Jun) in 2021. Days on market YTD is currently 17 days and townhome stats are showing .63 months of inventory, down from 1.70 months of inventory in 2021. The average sales price for townhomes YTD is $339,207 up 22.7%, compared to $276,962 year-end for 2021.
Apartment home sales are up 99% to 133 YTD sales, as compared to 67 (Jan-Jun) sales in 2021. The current DOM is 44 as compared to 2021’s average of 73. Average YTD sales price in apartments increased 7.6% from $182,816 in 2020 to $196,689 in 2022. The apartment market finally moved to a Seller’s Market with 1.44 months of inventory, compared to 2021 with 4.29 of inventory (Buyer's).
The semi-detached homes moved into Seller’s Market with .81 months of inventory YTD. Average price is $440,581 up 22.8% from last years $358,638 average price. Days on Market have decreased to 14 DOM from last year’s 25.
The City usually reports on Airdrie’s population but due to COVID-19, no census was done again this year – last one done was in 2019 with 70,564 people in Airdrie.
Gary Lock is a local Realtor® with CIR Realty and has lived in Airdrie for the past 38 years.