While the benchmark price of an Airdrie home increased 9.9% year-over-year in January there are strong signals of a weakening market ahead.
The average price was down -1.12% from $384,409 to $380,117 and the median fell -2.21% from $385,500 to $376,982.
Sales were on par with 65 during the month compared to 67 the previous year.
Inventory, however, spiked 143.7% y/y and above the 10 year historical average for the month. With the significant increase in listings and flat sales, the absorption rate shot up from 1.78 months to nearly four and a half months and has shifted to a buyer’s market.
Download the 10 year historical Airdrie real estate statistics: click here