According to statistics released by the Calgary Real Estate Board, the Airdrie Real Estate market had another strong month in August with 134 MLS® sales.
"Although the sales figures for the month weren’t as strong as July’s it was still a solid month to end the summer” stated Sotheby’s International Realty Canada REALTOR® Matt Carre. “Even with the fewer sales we are still very much in a seller’s market with only a month and a half worth of inventory currently listed on the MLS® which is a key factor in determining inventory levels.”
In Calgary the average residential sale price dipped again in August to $454,000 from $460,000 in July. For Airdrie the average sale price decreased to $370,000 from $376,000.
There are currently 207 MLS® listings on the market in Airdrie, up from 199 in August. Last month it took an average of 36 days for a home to sell in Airdrie compared to 41 days in July. In Calgary the average days on market held steady at 38 days in August compared to 39 days in July.
“After a very strong summer it will be interesting to see how the fall shakes out. While September is historically a strong month with people getting back into a routine, the increasing interest rates are certainly going to play a factor in buyer’s affordability and some may have to adjust their expectations.”
Home starts in Airdrie also had a strong month of August with 71 compared to 58 in July.
These statistics were compiled by Matt Carre, a REALTOR® with Sotheby’s International Realty Canada.
