Airdrie Real Estate Market Report: May 2014

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.

Airdrie home prices, 10 year history

Airdrie home prices, 10 year history

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.

Singe family prices are at record highs, Condo-Townhomes have nearly recovered, but Condo-Apartments have a long ways to go

Singe family prices are at record highs, Condo-Townhomes have nearly recovered, but Condo-Apartments have a long ways to go

A total of 197 homes changed hands in May, surpassing the previous peak of 194 set back in March 2007.

Record number of homes sold in Airdrie in May

Record number of homes sold in Airdrie in May

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 mike@findcalgary.com

I look forward to hear from you!

Active Listings

Active Listings

New Listings

New Listings

Airdrie May 2014 real estate statistics

Airdrie May 2014 real estate statistics

 

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