June sales consistent with typical levels. With conditions remaining relatively stable in June, there was minimal pressure on home prices. Consumer who were waiting for wide-spread price declines have been surprised to see that it just hasn't happened yet and so they've decided to take advantage of the improved selection and lower lending rates.
The detached benchmark price for June is $515,500 a 0.37% increase year-over-year. The apartment benchmark price is $293,600 a decrease of 2.04% and the attached benchmark price is $354,500 up 0.88%. Overall sales for the month totaled 2,183 units, compared with 2,657 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 June, the months of supply decreased to 2.31, while the sales to new listings ratio was 68 per cent, both within the norms for balanced conditions.
Airdrie's inventory increased 14 to 384, sales climb to 166 in June from 153 in May. The benchmark price for June is $374,900 up $10,400 from last year. Overall sales for the month totaled 166 units, compared with 197 during the same period last year.
Call Jeff Campbell 403-275-3331