Airdrie’s real estate market could have been described as having a banner year back in September when year-to-date sales broke the annual record. In October, sales spiked 41.6% year-over-year and over double the 10-year historical average. Last month, the market remained brisk with 117 more homes changing hands, a new peak for November and a 27% increase from last year.
Year-to-date, 1631 homes have sold which is a 22.9% increase from 2007’s year-end total (and previous record) of 1327.
Prices continue their upward trek. Year-over-year in November, the overall average and median price increased 3.59% and 5.96% respectively.
Apartment prices, still below peak levels, are now climbing at a quicker rate. Year-to-date, the average price of an Apartment is up 9.71% and the median is up 10.68% from the same period a year ago. Meanwhile, the benchmark price of an Apartment is up 21.36% y/y compared to 9.63% for a Townhouse and 10.2% for Single Family.
Heading into the seasonally slower months, the Airdrie market looks to be in fine shape. With an inventory absorption rate still below two months and a sales-to-new-listing ratio of 101.74%, we can expect further price gains into 2015.