Airdrie home prices and sales reached all-time record highs during the month of May.
Overall average prices in the city increased 11.06% y/y, rising from $358,873 to $398,570. The median price was up 9.12% from last May, jumping $33,000 to to $395,000.
It must be noted that the single family home segment is the reason overall market prices are at a record high. While condo average prices were up over 7% from last year, they are still below 2007 levels – particularly in the case of condo-apartments.
A total of 197 homes changed hands in May, surpassing the previous peak of 194 set back in March 2007.
New listings were up over 67% y/y to 288, the most that has ever been listed during a May month. Despite the influx of sellers into the market, active inventory remained -2.86% below last May’s level and the lowest it has been for the month since 2006. The sales-to-new-listings ratio was at a strong 68%, indicating overall market conditions still favor sellers.
If you’re interested in buying or selling a home in Airdrie, contact me at 403-554-2284 or email me at email@example.com
I look forward to hear from you!