According to statistics released by the Calgary Real Estate Board, the Airdrie Real Estate market had a strong month of October with 131 MLS® sales. Both the City of Airdrie and Calgary saw an increase in the number of MLS® sales in October. These increases can likely be attributed to the mortgage rule changes that went into effect on October 17th.
Airdrie’s average sale price increased to $372,000 in October from $365,000 last month. Calgary’s average residential sale price fell from $491,000 in September to $462,000 in October. There are currently 383 active MLS® listings on the market in Airdrie compared to 402 at the start of October. Last month it took an average of 46 days for a home to sell in Airdrie, down from 57 in September. Calgary’s average days on market also dropped to 41 days compared to 46 in September. The City of Airdrie has not yet posted the building starts for October.
October was a very positive month with sales levels up, average sale price increased and days on market down. Inventory levels are lower and the amount of inventory is down to under 3 months which is one of the factors that indicates that we are in a balanced market. We will continue to watch all of these factors as we move into the winter months and with the new mortgage rules firmly in effect. As always it is extremely important for buyers and sellers alike to make sure that they are asking their real estate professional the right questions and receiving accurate information so that they can make informed decisions and proceed with confidence in those decisions.
These statistics were compiled by Matt Carre, a REALTOR® with The Carre Group of RE/MAX Rocky View Real Estate. If you have questions please call him at 403-771-3398.