According to statistics released by the Calgary Real Estate Board, the Airdrie Real Estate market had a slower month of June with 134 MLS® sales.
Along with of a bit slower month for activity, we also saw our inventory level continue to rise. For much of the spring we had what’s considered a balanced market. Today we have slid back in favour of the buyer with 4 months of inventory. We also saw a rise in new home starts which is also putting pressure on the re-sale market.
Airdrie’s average sale price decreased to $377,000 in June from $384,000 in May. Calgary’s average residential sale price had a slight decrease to $501,000 compared to $503,000 in May.
There are currently 535 active MLS® listings on the market in Airdrie compared to 507 at the start of June. Last month it took an average of 50 days for a home to sell in Airdrie, a significant increase from 40 days in May. Calgary’s average days on market stayed consistent in June at 38 days compared to 37 in May. There were 67 New Home permits pulled in Airdrie compared to 49 in May.
Typically July is a slower month for real estate due to summer holidays, the Stampede and so many other events to occupy people’s time. With the higher levels of inventory and not as many buyers out there, seller’s must be hyper realistic with their list price if they want success. On a positive note this time of the year brings out less tire kickers and more serious buyers. So sellers it is imperative that you are ready for showings as you never know when the right buyer will show up.
These statistics were compiled by Matt Carre, a REALTOR® with The Carre Group of RE/MAX Rocky View Real Estate. For more information please call or email Matt at 403-771-3398, firstname.lastname@example.org.