Septem­ber sales slug­gish in satel­lite com­mu­ni­ties

Calgary Sun - Homes - - Homes - Myke Thomas CALGARYSUN

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.

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