February 2025 Airdrie Market Update

It was an interesting first month of the year, and we have some contradicting stats in our market that could be spun to different perspectives, but we’re going to just lay out the facts and give you an idea of what’s going on right now here in Airdrie.

For a January, we had quite a lot of activity last month. We saw 112 sales, which is our second highest January sales ever, next to the 145 sales we has in January 2022. But coupled with that, we saw 222 new listings within the month, which is the most we’ve EVER seen in January. The only other time we’ve seen over 200 new listings in January was in 2018, when we were very much in a buyers market. 

So on one hand we see lots of sales and most would see that and think “okay well the market is going pretty good right now”, and then you see the amount of new listings and think “oh well maybe not”. Buts thats only 2 stats, so lets keep moving through them. 

Next up we have the total inventory. And with all that new supply, that brought our inventory up to 295 listings to start February with. This again is a higher number than we’ve been used to lately here in Airdrie, but definitely not a shocker with the amount of new listings we saw. This is though, a huge year over year jump in inventory. Last January we were sitting with 137 active listings, compared to 295 this year. That’s a 115% jump year over year!

Which then leads us to our overall months of supply here in Airdrie. Based on our current sales and inventory, we’re sitting at 2.63 months of supply here in Airdrie right now. Now this puts us in a balanced market at the moment here in the city, so it’ll be interesting to see what way that number goes as we get closer to spring here in 2025. 

Our average days on market is currently sitting at 46 days, and our overall benchmark price has decreased in Airdrie in the last month by 0.94%. We’re going to get into what that looks like for each of the types of housing a bit later in the video, but from an overall standpoint we saw nearly a 1% decrease in the past month. 

Alright so there’s the breakdown for the entire city. Overall a high activity month, with high sales, but even higher new listings, which gives us a higher inventory than we’re used to the past few years. 

Now lets go into the different housing styles and see how the market is performing for detached homes, semi-detached homes, townhouses, and condos. 

Starting first with our detached houses here in Airdrie. And we’ve seen a pretty big shift in our styles of homes here in the city the past few years. Not to long ago our city was dominated by detaches houses. Just 4 years ago, detached homes made us for 70% of our sales, compared to now where they are down to about 56% of our sales. 

You can see in January we saw 61 detached sales, and 132 new listings. That gave us an inventory of 165 active listings to start February with. We’re very much in line with the overall city numbers at this point. About double the new listings to sales to Janaury. That gives us a months of supply of 2.7 months currency for detached homes, which is also right in a balanced market, and an average of 48 days on market. 

As for detached prices, our benchmark price went down 0.9% in January, to $636,100. Overall the detached home market paints a very similar picture to the Airdrie overall market right now to start 2025. 

And now moving onto our semi-detached homes! Here we saw 17 sales within the month, and 22 new listings. Now that gives us a sales to new listing ration of 0.77, which is a much stronger number than Airdrie overall. Those sales and new listings left us with an inventory of 28 active listings to start February with, and a months of supple of 1.65 months.

Now, 1.65 months does put the semi-detached market in a sellers market currently, and its the only style of home thats showing within a sellers market. But keep in mind, the semi-detached market is a very small portion of our market, so the numbers tend to bounce around quite a lot every month. 

Now for pricing, we did see pricing come down here as well, down 0.6% for the month to a benchmark price of $495,700. 

And now moving onto the townhomes. Here we had 29 sales in January, and we saw 55 new listings. This brought our active inventory up to 79 homes to start February with. That gives our townhouse market 2.72 months of supply, which puts it also right in line with detached homes and the current city average. 

We also see that townhomes just went above the 40 days on market average, now sitting at 42 days on average to start 2025. As for price change, we saw a very small change in the townhouse pricing. Down just 0.08% for the month, so basically staying even into February. 

And lastly lets take a look at our apartments. Here we had just 5 sales in January, which is a very low number for our condo segment. To put that into perspective, thats our lowest month of condo sales since 2020, and we all know what was going on at that time. 

But in addition to the 5 sales, we also saw 13 new listings, which gave us 23 active listings to start February with. And that gave us 4.6 months of supply for our condo market! That takes us right out of a sellers market, and not even into a balanced market, but straight into a buyers market for the condos in our city. 

And that of course is reflected in the price, where we saw condo prices go down 1.7% in just the last month. And with all the new build condos coming up in 2025, not for just Airdrie but also Calgary, I think this segment of the market is going to be looking at further declines through 2025. 

From what I’m seeing in our numbers this month, I think we have a lot of sellers that didn’t want to miss the boat so they listed early in the year to catch the spring market early. 

At the moment that means higher listings numbers leading into spring, but I think activity on the sales side was pretty good through January, and will be picking up through February and march. Now, we usually see a big jump in new listings from Janaury to February, but with how many we saw this January, I’m expecting that jump won’t be as large this year. But of course we’re just going to have to wait until next month to see what happens with those numbers. 

I've got one more chart for you to look at in todays update. This one is showing us the months of supply for the price ranges in Airdrie. I think this chart does a good job of showing us where the hotter segments of the market are, and where its slower. 

In the 0-300, thats going to be mostly condos in there, which is why we’re seeing the months of supply so high in that low price range, because the condo market is quite slow right now. 

For the 300-400 range, here you’re looking at reasonably prices townhomes, which are very much in demand, and thats why we’re seeing that range still in a sellers market of under 2 months. 

For the 400-500 range, here you’ll find the mid range townhome, high end condos, and some detached homes. The detached in this range will be in high demand, but the condos arent, and the townhouses start to become less in demand the closer they get to $500k, so we see this range still performing quite well. Not in a sellers market at the moment, but the stronger side of a balanced market.

Now you can see the months of supply dips again back into the sellers market range for 500-600. This is because this range is where we’ll find most of the lower priced detached homes. The more starter home style properties, which are still in quite high demand in our market. 

Moving up through the higher price points, in the 600-700 range you see it again goes back to a balanced market at 2.57 months. This range for detached is still quite strong but the higher prices semi-detached and townhouses tend to make this price range a bit weaker. For just detached in the 600-700 range the months of supply sits at 2.16 months.

At the 700-800 range is where things really start to slow down, with 4.36 months of supply in this range, which brings us out of a balanced market and into a buyers market. 

And the 800-1m range is where things really drop off with 17 months of supply currently! We currently have 34 active listings in this range here in Airdrie, and we only had 2 sales in January. So there is a LOT of competition amongst sellers in this range right now. 

For above a million, we have 4.5 months of supply, which definitely looks better than the 800-1m range, but we have much lower activity numbers in this range in Airdrie, so the months of supply tends to vary a lot. 

Alright well I hope that gave you a bit more info on our market here in Airdrie. As you're local Airdrie Realtor, I'd be happy to chat if you're thinking about making a move in or around Airdrie!

Brad Walker

Call/Text 587-917-3957

brad@redlinerealestate.ca