Is it a good time to buy a house in Airdrie? If you’ve found yourself drawn to the charm and community spirit of Airdrie, you’re not alone.
It’s crucial to weigh the factors that can influence your decision as an aspiring homebuyer. One of the key considerations is the current state of the Airdrie housing market.
In this article, we will explore the recent trends in Airdrie’s real estate market. Plus, I’ll provide you with the insights you need to make an informed decision.
Understanding the Market Conditions
The Airdrie housing market is currently experiencing rising prices and low inventory levels. This means it’s a competitive market for potential buyers. We are in what we call a “seller’s market.”
According to the Calgary Real Estate Board (CREB), the housing market in Airdrie has been experiencing an upward trend in prices.
The unadjusted benchmark price reached $518,000 in September. This marks an eight percent increase compared to the same period last year. Hence, prices are still on the rise in Airdrie.
What’s more, despite rising prices, the sales-to-new-listings ratio dropped to 70 percent in September. This suggests that while new listings have increased, the number of sales has not kept pace.
However, the inventory levels remain low, with just over one month’s supply available. These figures confirm that the housing market in Airdrie is relatively competitive.
Hence, if you based your decision alone on market conditions, now wouldn’t be a good time to buy a house. However, the reality of the situation is that buying a house depends on various factors.
For instance, you’ll need to consider your:
- Financial situation
- Long-term plans
- And personal preferences
Plus, consulting with a real estate agent who specializes in the Airdrie area can provide further guidance tailored to your needs.
Consider Your Financial Situation
You have to evaluate your personal financial situation before making a decision. Assess your:
- Income stability
- Credit score
- And savings for a down payment and associated costs.
Ensure that you can comfortably afford monthly mortgage payments and other homeownership expenses.
Although average prices are going up, low interest rates can make homeownership more appealing. That’s because low interest rates reduce your monthly payments.
So despite rising average prices, why not proceed to buy if you have the resources to do so?
This is especially true if buying a house now is the best decision according to your long-term plans.
What’s Your Long-Term Plan?
Another important factor to consider is your long-term plans. There can be various long-term reasons why someone might need to buy a home in Airdrie quickly. Here are a few examples:
1. Growing Family
Are starting or expanding your family? Buying a home in Airdrie fast can provide the space and amenities necessary to accommodate your changing needs.
Owning a home allows you to customize your living space. You can create a safe and comfortable environment for your children.
2. Job or Career Opportunities
Airdrie is near Calgary and enjoys a growing economy. This makes it an attractive location for job seekers and professionals.
Have you secured a new job or foresee career growth opportunities in the area? Then buying a home quickly can ensure easy access to your workplace.
This saves you from a lengthy commute or the need for frequent relocations.
3. Investment Potential
Airdrie’s real estate market has demonstrated an upward trend in prices.
Are you considering diving into Ardrie real estate investment?
If you believe in the potential for property appreciation, buying a home quickly can allow you to enter the market. The result is, you’ll benefit from future value increases.
However, it’s important to conduct thorough research. Seek advice from experts to ensure a well-informed investment decision.
4. Retirement or Future Planning
Perhaps you’re planning for your retirement, and you’re attracted to Airdrie’s refreshing greenery. Or maybe you want to downsize your home for more affordable living now.
After all, Airdrie has a lower cost of living than the Alberta average.
Then, buying a home in Airdrie fast provides you with a secure and comfortable living environment.
These are just a few examples of long-term reasons why someone might need to buy a home in Airdrie quickly. It’s wisest to align your decision with your personal circumstances and long-term goals.
Seek Professional Advice
It’s always best to seek professional advice because you have your own personal needs. Yes, it’s true that the overarching state of Airdrie’s housing prices are competitive.
But there might be a property price in a dream neighbourhood that’s perfect for your plans.
What’s more, some property prices may be less expensive than others. Depending on the property type you’re looking for, such as:
- Detached homes
- Semi-detached home
- Single-family detached homes
- and Attached homes, there are more affordable properties available.
Your real estate agent can provide valuable insights into the specific property types available in Airdrie. Also, their corresponding price ranges.
Navigating Airdrie’s Real Estate Landscape
In a complicated market like Airdrie, the expertise of a local real estate agent becomes invaluable. Our understanding of market segments, insights into price trends, and an ear to the ground for new listings can provide you with an edge.
Furthermore, local agents are often privy to properties that might not yet be listed, giving our clients an advantage in a hot market.
Are you ready to make your move in Airdrie’s bustling real estate scene? If yes, then trust the expertise of Airdrie’s Top REALTORS® at Maverick Group.
With years of experience and a commitment to securing the best deals, we stand as your ideal partner in your home-buying journey. Contact us, and let’s turn your Airdrie home aspirations into a reality!
