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Airdrie Market Update December 2023

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Market Statistics Overview

We had 139 sales in November, which is actually higher than our October sales where we saw 124 within the month. This is interesting because we usually see sales trend down month to month until the new year. There’s only been one other time in the last decade that we’ve seen more sales in November than October.

Next, we had 144 new listings. This one is down from 168 new listings in October, which is definitely a more normal trend to see. So, sales aren't slowing down, but new listings are. This reduces the supply, and if the demand isnt going down as well, then it could create a busier market in some segments of the market.

Those sales and new listings gave us an inventory of 193 listings here in Airdrie to start December with. Which is down, as we’d expect from October, but it's right in line with where we were last year in terms of inventory. Now, of those 197, 43 are currently conditionally sold. The percentage of conditionally sold properties is going down, which definitely shows things slowing down into the winter a bit.

And all of these numbers did bring our months of supply back down to 1.39 months, which is still very much in a sellers market.


Detached home prices are up 0.7% since last month, now at a benchmark price of $614,700. Even though portions of this market are slowing down a lot, the under $600,000 detached market is strong enough to keep that price trending up at this point. We did see the average sale price to list price ratio go down a little bit last month though, with the average detached home selling for 98.3% of its list price. This is actually the lowest we’ve seen this stat since January 2021 nearly 3 years ago. That number being lower typically means sellers are seeing more value in their homes than buyers are, which can lead to prices moving down a bit, but we’ll just have to wait and see.

Moving onto the semi-detached homes or duplexes. Here we saw a full percent increase in our price since last month. Now sitting at a benchmark price of $481,000 for the semi-detached homes here in Airdrie. Unlike the detached homes, these semi-detached homes on average are selling for 1.9% ABOVE their list price right now. This definitely shows us how strong the lower price points are compared to the higher priced detached homes.

Looking at our townhomes. They are up in price 0.6% in the last month, giving them a benchmark price of $356,400. November was actually the first month since March that the average sale price wasn’t above the list price. Granted the average sale was only 0.1% below the list price, but it is coming down right now from its peak in the summer of 3.5% above asking.

Now for our apartment style condos, the style that all year has been stronger than the rest. Month to month right now we’re looking at a 0.8% increase in price, which brings their benchmark price now to $267,200. 0.8% in a single month is still a pretty quick increase, but the increases are slowing down in this segment of our market. If you remember at our peak this year they were increasing about 2.5% per month.

After looking at our pricing, everything is still increasing in price at this point, though benchmark price can be a slightly lagging indicator buy a month or two. With some of the other numbers we’ve seen I wouldn’t be surprised if we see those increases closer to 0 next month, before likely starting to move up again in the new year.

If you want to find out how much your home is worth in today's market, click the button below to go fill out my home evaluation request form!

In our $0-$300,000 price range we saw 21 sales in November, with the large majority of those being condos. We have 20 active listings within this price range right now, so in terms of months of supply we’re basically right at 1 month.

Moving onto the $300,000-$500,000 price range. Here we had 47 sales within the month of november, and we currently only have 35 active listings. Which gives this price range a months of supply of just 0.74 months, which puts it in an extreme sellers market, with about half of the moths of supply of the city of Airdrie average.

Let's go to the $500,000-$700,000 price range. Here we had 61 sales in November, and we currently have 82 active listings which gives us 1.34 months of supply. Putting this range right in line with the city average. I had a feeling that partway through this range is where things start to flip. So i split up the numbers to reflect the $500,000-$600,000 price range, and the $600,000-$700,000 price range. In the $500,000-$600,000 price range we have 1.09 months of supply, and in the $600,000-$700,000 price range we have 1.64 months of supply. So both technically in a sellers market, but the under $600,000 price range is definitely much more strong than above $600,000.

Okay and now moving onto the $700,000-$900,000 price point. Here we saw just 7 sales within November, but we have an active inventory of 38 homes. Meaning this range has a months of supply of 5.42 months. That much inventory takes us out of a sellers market, past a balanced market, and right into a buyers market now in this range!

Beyond $900,000 just gets more slow. We had just 4 sales above $900,000 in November, and we have 25 active lsitings. Which gives us 6.25 months of supply in the luxury over $900,000 range right now.


Overall things feeling like they’re slowing down a bit, while the lower price points will continue to sell very quick, with the eager buyers ready to jump on the right home. Less people want to move in the winter, with things like Christmas in mind, but into the new year things will likely start to change.


Check out my YouTube video below where I go over everything in this blog post and subscribe to my channel if you want to see more Airdrie related content!

- Brad Walker


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