The market remains balanced despite the weaker absorption rates, market conditions remained relatively balanced and helped maintain month-over-month stability in benchmark prices, which remain unchanged from the previous month.
The detached benchmark price for July is $515,300 a 0.08% decrease year-over-year. The apartment benchmark price is $293,300 a decrease of 1.61% and the attached benchmark price is $355,300 up 0.77%. Overall sales for the month totaled 1,995 units, compared with 2,316 during the same period last year.
Airdrie's market moves toward more balanced conditions. Two measures of a balance market are the months of supply and the sales to new listings ratio. In July the months of supply decreased to 2.20, while the sales to new listings ratio was down 4.34%, both within the norms for balanced conditions.
Airdrie's inventory decreased 26 to 358, sales decreased by 3 to 163 in July from 166 in June. The benchmark price for July is $373,800 down $7,000 from last year. Overall sales for the month totaled 163 units, compared with 182 during the same period last year.
Call Jeff Campbell 403-275-3331