According to statistics released by the Calgary Real Estate Board, the Airdrie Real Estate market again had a strong month in July.
With 182 MLS® sales for the month, sales volume did slip a bit compared to May and June but this was still the highest number of sales we have ever seen in July. It is not unusual to see a bit of a slowdown in the summer months due to Summer Holidays, so really it was business as usual here in Airdrie.
In Calgary the average overall residential sale price dipped to $482,000 in July down from $492,000 in June. Airdrie’s remained consistent with a small increase to $385,000 in July compared to $384,000 in June.
There are currently 261 active MLS® listings on the market in Airdrie, up from 252 in July. Last month it took on average 32 days for a home to sell in Airdrie up from 29 days in June. Calgary also saw an increase to 32 days compared to 29 in June.
While the Calgary Real Estate Board is saying Calgary is moving towards a balanced market, we are not seeing that here in Airdrie. We still have less than 1 ½ months of inventory which is one of the key factors in determining a balanced market. With around 3 months of inventory being considered balanced we are still far below this and with continued growth of the city, the low interest rates and strong employment we will wait to see if we experience a slow down.
The City of Airdrie has not yet posted housing starts for the month of July. We will post them next month.