Airdrie's most affordable neighbourhoods

Posted by on Wednesday, June 15th, 2016 at 11:40am.

The breakout numbers for the City of Airdrie for May 2016 show that sales were adequate and inventory is up. Way up. Statistics on real estate activity in Airdrie is maintained and provided by the Calgary Real Estate Board (CREB®).

There were 147 sales of MLS® listings in May which real estate professionals in the city referred to as “decent”. These numbers don’t reflect new construction in Airdrie, a segment of the real estate market that continues to grow although more slowly than in the past.

The biggest numbers that came out of May 2016 were the number of active listings in Airdrie. That number went just over 500, which is the highest number of listings seen in the city since the summer of 2008. The actual figure is 505 active listings on the MLS® system in Airdrie as of May 31 which us up by 10 listings relative to the start of the month. Days-on-the-market averages in Airdrie for May was 48 which is an improvement from the 54 days on average in April 2016. That statistic in Calgary was also better with 42 days to sell in May, down from 46 days in April.

What prices looked like

The average sale price in Airdrie in May was $382,000 which is $5,000 less than April 2016. These numbers seem to reinforce the notion that you can get more house for less money in Airdrie, because in Calgary, that average price of a residential unit was $494,000. Calgary had a more successful May, with the average residential price increasing by $18,000. But still, the disparity between average prices in the two cities is $112,000.

The difference between the two cities was the uptick in sales in the luxury home segment of the Calgary market. Sales were up in May, which is attributed to the fact that luxury home buyers are taking advantage of huge price discounts as sellers try to get out from under expensive homes.

Year-over-year

The average sale price in Airdrie is down $13,000 over May 205. That includes all housing types. Prices for single-family homes specifically are down just $2,500 which tells a story about which types of homes are selling well in Airdrie. Condominiums continue to take a beating in all markets in Alberta as buyers are able to extend budgets to purchase desirable single-family homes. The same holds true for semi-attached homes and town homes.

New construction

While land is still being scraped for new subdivisions in Airdrie, actual building permits are down. Statistics supplied by The City of Airdrie show that in May 2016, there were 32 starts. This is up by 3 units over April but still very low for the city which has experienced phenomenal growth in the last 25 years.