Alberta’s real estate market is supposed to be slowing, but it seems that Airdrie didn’t get the memo last month.
A total of 98 homes sold in February which was above the 5 and 10 year average for the month, and the 4th busiest February this decade. Year-over-year, sales were down -7.55%.
Annual price growth was robust, all things considered:
- average price: +3.65% from $385,752 to $399,835
- median price: +5.44% from $379,375 to $400,000
- benchmark price: +9.38% from $345,600 to $378,000
However, Airdrie faces a similar a market headwind as Calgary, specifically the amount of homes for sale. Inventory more than doubled to 368 in February, a 164.75% increase from a year ago while new listings were up 55.4%. This pushed the inventory absorption rate to 3.76 months and should put a damper on prices in the coming months.