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Airdrie Market Update September 2023

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Market Statistics Overview

You can see here that in August we had 204 sales and 206 new listings. This was interesting to me because I wasn’t expecting to see over 200 sales for the month. In July we had 194 sales, and it’s fairly uncommon for August to have more sales than July. If we dive a bit deeper into the sales throughout the month, 60% of the sales in August happened in the last half of the month. Now it's a small sample size, but that is indicating a ramp up heading into the fall.

Those sales and new listings numbers left us with just 176 active listings. Which is the lowest we’ve seen all year other than January, and of those 176 listings 53 of them are currently conditionally sold already. With inventory that low compared to our sales, that once again brings us below 1 month of supply, at 0.86 months of supply in our overall market across all styles and price ranges. That puts up back into an extreme sellers market, which means we will continue to have upward pressure on prices, and as a buyer you could find yourself competing on homes depending on what you’re looking for.


As for prices, our benchmark price compared to last year is up 5.8%. With our prices increasing this year, and at this point last year decreasing slightly, you can expect this percentage to get higher throughout the rest of 2023. I’d expect that in about 2-3 months we’ll be showing a 10% year over year increase.

For detached homes we have a month of supply right now of 1.15 months. So, still very much in a sellers market here, but not as crazy as some of the other segments. Our prices on detached homes went up again in August, as we’ve seen every month here in 2023. The benchmark price for a detached home in Airdrie now is $603,500, which is up a little but not a ton, the 0.4% increase over last month is the lowest we’ve seen all year.

Moving onto the semi-detached homes or the duplexes, here we’re seeing an INSANELY low month of supply right now with just 0.35 months of inventory in the market. Only about 10 days worth of supply for those duplexes! As you’d expect, we saw prices increase again, but it was a smaller increase than we’re used to. For the semi-detached homes we saw a 0.5% increase as compared to last month, and they’re now at a benchmark price of $470,300.

Let's look at the townhouses. Here we have 0.61 months of supply and a benchmark price now of $346,600. That’s an increase of 1.2% over last month, so we’re still seeing the prices move up pretty quickly on the townhomes. Right now they’re up about 12% compared to last year.

Last but not least we have our apartments, where we have just 0.48 months of supply and a new benchmark price of $252,800. That’s a 2.3% increase in just the last month! Which means condos have gone up in price 18% compared to last year! Absolutely crazy numbers from the apartments here this year. So now you know, prices are still increasing across the board, but the lower priced styles continue to move a lot quicker than the detached homes!

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!

On that note, let's look into some of the activity in the different price ranges. Starting with the $0-$300,000 price range. Keep in mind that this is a bit of a dwindling price range as prices go up, all that's in this range now is condos and some older townhomes in the city. We had 29 sales in July, but we only have 11 active listings in the market right now. That gives this price range a month of supply of just 0.38 months and 8 of those 11 listings are currently conditionally sold.

Moving onto the $300,000-$500,000 price range. In this range you’ll find a bit of all the styles, you’ll have the fancier condos, newer townhomes, smaller semi-detached, and older detached homes. In this range we saw 70 sales in July and we currently have 38 active listings. That gives us a months of supply of 0.54 months and of the 38 active here, 21 are conditionally sold.

For $500,000-$700,000, you’ll find the higher end townhomes, bigger semi-detached, and average detached homes. Here we saw 84 sales in July and we currently have 57 active listings, which gives us a months of supply of 0.68 months.

In the $700,000-$900,000 range, we had 23 sales in July, and we currently have 52 active listings on the market, which gives us a months of supply of 2.26 months.

Now onto our last price range, which will be anything in Airdrie above $900,000. This is where it gets a bit out of hand. We saw only 2 sales in July in this range, but we have 19 active listings! That’s a months of supply of 9.5 months, well beyond a balanced market and very much in a buyers market in this range.

Ultimately, our prices are going up across the board, overall we’re very much in a sellers market, and with the way things are going I don’t expect that to change anytime soon. I expect we’ll get another push here in September through November, before slowing down for a couple months before the spring market. I think hat spring market is going to start a bit early next year, probably in February or so, with lots of people wanting to “beat the rush” to the market. Even in the slower winter months I’m not expecting prices to come down at all, but instead just slow the increases like we saw this month.


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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