While inventory levels are declining, the prices of houses in Airdrie are heading upward.
The Calgary Real Estate Board (CREB) has released their statistics for August house sales in Airdrie and things are still favouring the seller.
According to CREB, the sales-to-new-listing ratio is on the incline.
"With 204 sales and 206 new listings, the sales-to-new-listings ratio pushed up to 99 per cent, causing inventory levels to decline."
Just like July, the months of supply once again dropped below one month with only 176 units available in inventory.
With the market being so compressed, that means the average household price has also gone up.
"In August, the unadjusted benchmark price reached $515,600, up from last month and nearly six per cent higher than last year's."
The average household price in July according to CREB in Airdrie was $514,100.
Our neighbours to the west, Cochrane, are also in the same boat as Airdrie, the unadjusted benchmark price reached $534,700 in August, compared to $529,700 in July.
Detached homes in Calgary are also on the rise, jumping from $690,500 in July to $696,700 in August.
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