September sales sluggish in satellite communities
Here’s the Calgary Real Estate Board’s September report for Airdrie, Cochrane and Okotoks.
n Airdrie’s housing market has been in buyers’ market conditions all year, due to weak economic conditions that have hindered growth in demand. Excess supply has led to a downward pressure on benchmark prices for detached homes.
n Year-to-date residential sales have declined from last year and sit at levels comparable to activity recorded in 2012. New listings have remained elevated, causing inventories to reach new highs for September.
n Elevated months of supply have placed downward pressure on prices. The year-to-date detached benchmark price averaged $371,244, a 1.7 percent decline from 2017.