According to statistics released by the Calgary Real Estate Board, the Airdrie Real Estate market had a good month of May with 146 MLS® sales.
The real story of the month was the rise in inventory. While similar to the number of listings that we had in May of 2016 the climb was a bit more sudden this year. We’d have to attribute this to more confidence in the housing market and many sellers feeling like they don’t have to take a big hit on their property.
Airdrie’s average sale price decreased to $384,000 in May from $392,000 in April. Calgary’s average residential sale price for the first time ever topped the $500,000 mark at $503,000.
There are currently 507 active MLS® listings on the market in Airdrie compared to 466 at the start of May. Last month it took an average of 40 days for a home to sell in Airdrie, considerably down from 54 in April. Calgary’s average days on market also dropped slightly to 37 days compared to 39 in April. There were 49 New Home permits pulled in Airdrie compared to 47 in April.
Heading into the summer months we’ll see what the real estate market brings. While there is still optimism in the economy the recovery is still not as quick as we’d like to see. With the increase in active listings sellers must be realistic in their list price if they expect buyers to first book appointments to look at their property and second put an offer on it. Also as builders have increased their activity, this to will force sellers to make sure they are competitive in their price.
These statistics were compiled by Matt Carre, a REALTOR® with The Carre Group of RE/MAX Rocky View Real Estate. Call or email Matt at 403-771-3398, email@example.com if you have any questions.