Airdrie Real Estate Market Report: November 2014

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.

Airdrie home sales

Airdrie home sales in November, Y/Y Comparison

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.

Airdrie 10 year prices - Nov 2014

Airdrie historical prices

Airdrie Index - Nov 2014

Airdrie Index Levels

Airdrie Apartment sales Nov 2014

Airdrie historical apartment prices

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.

Airdrie Inventory Absorption Nov 2014

Airdrie Inventory Absorption Rate

Airdrie Sales to New Listing Nov 2014

Airdrie Sales to New Listing Ratio

Airdrie Inventory, November Y/Y comparison

Airdrie Inventory, November Y/Y comparison

Airdrie statistics for November

Airdrie statistics for November

One response to “Airdrie Real Estate Market Report: November 2014

  1. John Mac Donald

    Purchased a condo in Airdrie 4/2012 for 180,000; would I be safe in valuating the property at $198,000?


    Not without looking at recent comparable sales.
    -Mike Fotiou

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