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Airdrie's housing market turned a corner in May as active listings surged to the highest level reported for the month since before the pandemic and benchmark prices dipped below 2024 figures, according to the Calgary Real Estate Board.
"In May there were 468 units in inventory, reflecting the highest May reported since prior to the pandemic," the board stated in its May 2025 regional market report.
The rise in supply followed a 19.7 per cent year-over-year increase in new listings, totalling 334. Despite a slight monthly uptick, sales activity fell 8.1 per cent compared to May 2024, contributing to a 10 per cent decline in year-to-date sales.
"While improving over last month, May sales eased compared to last year, contributing to the year-to-date decline of 10 per cent," CREB® stated. "However, the 772 sales so far this year are consistent with long-term trends in Airdrie."
"The total residential benchmark price was $540,600 in May, down nearly one per cent over last month and nearly two per cent below last year's levels," the report said.
The city's sales-to-new-listings ratio dropped to 58 per cent — a notable shift from the over 90 per cent ratio seen in the same period last year.
"New listings continue to rise causing the sales-to-new listings ratio to fall to 58 per cent, still well within balanced conditions, but a significant change from the over 90 per cent ratio reported last year," CREB® wrote.
The months of supply in Airdrie climbed to 2.42.
"Recent shifts in sales and new listings have supported gains in inventory levels," the report stated. "The shift in supply is in part related to the surge in new construction providing more options for potential consumers."
"Additional supply choice is impacting price growth," CREB® added.
Benchmark prices in Airdrie's detached segment were flat year-over-year. The board listed the detached benchmark at $648,600, up 0.4 per cent from May 2024. By comparison, Calgary's detached benchmark hit $769,400, up 1.0 per cent, while Cochrane reached $685,800, up 2.7 per cent, and Okotoks posted $633,900, up 2.0 per cent.
Cochrane recorded the steepest year-over-year drop in sales among the satellite cities. Total residential sales fell 17 per cent in May. The city posted 293 active listings, up 167.2 per cent compared to last year.
"New listings surged, driving the sales-to-new listings ratio down to 55 per cent and supporting further inventory gains," CREB® wrote.
Cochrane's months of supply rose to 2.71. Despite the added inventory, the benchmark price increased to $589,400, a 3.7 per cent gain from May 2024.
Okotoks showed the opposite trend. "Okotoks has struggled to add supply at the pace reported in Calgary, Cochrane and Airdrie and sales growth has been dampened by limited supply choice," CREB® stated. "While there have been some improvements in inventory levels, as of May levels remained nearly 28 per cent below long-term trends for the city."
The Okotoks benchmark climbed to $633,900, which CREB® noted was "up over last month and over two per cent higher than last year."
In Chestermere, the benchmark rose to $715,100 — the highest in the region — while the sales-to-new-listings ratio dropped to 46 per cent. Inventory climbed 110.3 per cent year-over-year to 244 units. Sales fell 7.4 per cent.
Calgary posted 2,568 sales in May, up 11.6 per cent year-over-year, and 4,842 new listings. The city's benchmark price reached $589,900, a 2.5 per cent annual increase. Inventory stood at 6,740 units, with a region-wide months-of-supply of 2.62.
According to Pillar 9 data included in CREB®'s May report, most Airdrie transactions occurred between $400,000 and $599,999. Detached home sales outnumbered all other property types, based on the monthly breakdown by housing category.
Despite the softening price trend, CREB® stated that year-to-date conditions in Airdrie remained consistent with long-term averages.
As of May, Airdrie accounted for six per cent of all regional sales, with Calgary making up 76 per cent, according to CREB®.
With a lower sales-to-new-listings ratio, higher months of supply, and construction-driven increases in choice, Airdrie showed the sharpest May inventory shift among major centres in the region, CREB® stated.
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