The Real Deal

Local real estate market is healthy

story by Alex Frazer-Harrison

With all the ups and downs of the housing market over the last few years, the Airdrie real estate scene has settled into a pattern that could be considered business as usual, says local real estate expert Alan Tennant.

“After having the extreme cycles and the incredibly hot market and the slow market, we’re back to a normal cycle,” says Tennant of Re/Max Rocky View. “The demand is typical and broad-based. Inventories are at a healthy level, and interest rates have a bit of upward pressure. The same for prices –a slight increase for prices is predicted for the year.”

In April, the average sale price for homes in Airdrie sat at $332,000, compared to $420,000 in Calgary, Tennant says, adding that Airdrie continues to uphold its reputation as the more affordable place to live.

Prospective buyers continue to find a good selection of homes in different styles and price points in Airdrie, says Bonnie Wegerich of Century 21 Castlewood Agencies.

“The listing count is going up slightly, so there is good choice out there,” Wegerich says. “The [MLS] listing count just went over 300 in the last couple of days (mid-April), and we have an ‘absorption rate’ of just over three months.”

Those terms may mean more to realtors, but Wegerich says it adds up to “a nice, balanced market. That’s important for buyers and sellers to know.”

Wegerich says that newer communities, such as King’s Heights and Prairie Springs, continue to do well.

Meanwhile, Tennant says there is also good demand in more-established parts of Airdrie. “We truly have something for every budget and every type of property,” he says.

And Airdrie’s selling features continue to pile on. Last year, the opening of the CrossIron Mills megamall and construction of Calgary’s Stoney Trail bypass were said to be big draws for potential buyers. Plans to launch a transit link to Calgary this fall have the potential to attract even more buyer interest here.

“I think the transit link will be good for Airdrie,” says Wegerich. “I think it will be a selling feature for people who don’t want to [commute] on the highway.”

Tennant says the economic slowdown has created a new breed of savvy consumer. “Today’s consumers are better informed and rational in their decision-making, and there’s a wide array of strategies that people bring to the table,” he says.

“There’s a lot more positive discussion than negative.” life

Contributing to Airdrie’s Happiness

Area Manager office: 948-6595 • cell: 816-4176

Donna.a@shaw.ca cell: 403.519.5325 showhome: 403.948.4635 office: 403.948.4111 n-harris@telus.net