Airdrie's benchmark house prices surge almost 10 per cent in a year

Comparing March 2023 to March 2024, Airdrie has seen a 9.4 per cent increase when it comes to benchmark house prices. 

The Calgary Real Estate Board (CREB) has released their monthly numbers for March and things are still looking favourable for the seller with prices rising.

"March reported 203 sales and 218 new listings. While both new listings and sales improved."

Inventory levels, with a sales-to-new listings ratio of 93 per cent, were 22 per cent lower than the same period last year and 56 per cent lower than average for March.

As of last month, the benchmark price for a residential home in Airdrie was $540,400, compared to $529,700 in February.

According to CREB, with less than one month of supply, it is not surprising that we continue to see upward pressure on home prices. 

"In March, the benchmark price reached $540,400, a monthly gain of two per cent and a year-over-year increase of over nine per cent."

In comparison to the Calgary regional market, Airdrie is one of the more affordable places when it comes to detached homes. 

(Graphic credit to Calgary Real Estate Board (CREB))

"Prices improved across all property types, with stronger year-over-year gains for the relatively lower-priced row and apartment-style products," stated CREB.

Our neighbours to the west, Cochrane have also seen an increase in the total residential benchmark price reaching $555,300. This is a monthly gain of over one per cent and a year-over-year increase of nearly 12 per cent. 

Calgary's residential benchmark price is also on the rise, now sitting at $597,600, a two per cent gain over last month and nearly 11 per cent higher than last year.

In January, CREB released their 2024 predictions.

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