In a recent real estate transaction in Airdrie, Alberta, sellers learned a vital lesson about the fickleness of the property market. The property in question, a three-bedroom townhouse located at 720 Willowbrook Rd., NW, No. 905, had its listing delayed as the owners decided to carry out renovations. However, by the time the improvements were completed, they found that the market had declined considerably, affecting their asking price. This serves as a stark reminder of the dynamic nature of the real estate market, and how timing plays a crucial part in successful transactions.
The Journey to Sale
According to Bryon Howard of eXp Realty, the listing agent for this property, the owners initially consulted with him in the spring of 2025. He suggested an asking price of $440,000. Instead of listing immediately, the owners chose to undertake renovations with the hope of improving the property’s value. The upgrades included new flooring and a fresh coat of paint. However, by the time the renovations were completed in fall, property values across the area had declined. This forced the owners to set a lower asking price of $419,000.
“The changes helped a lot, but at the same time, the market was dropping the whole time,” stated Howard. Even after the renovations, the new asking price was considered high in the prevailing market conditions.
Market Response
The property received five visitors over five weeks. After negotiations, one guest agreed to a $395,000 deal, considerably lower than the initial asking price. The property was eventually sold in October 2025, 34 days after it was listed.
“What we’re seeing now is properties are on the market and not selling at all because sellers’ expectations are higher than what buyers want to pay as the market has shifted, for condos and townhouses especially,” Mr. Howard commented.
Property Details
The townhouse is an end-unit in a row of two-storey townhouses, built in 2003. It boasts an attached double garage and 1,458 square feet of living space. The living area includes a kitchen and dining area with sliding doors leading to a deck and yard. The living room features a cozy gas fireplace. Upstairs, the primary bedroom comes with a walk-in closet and a four-piece bathroom. The house comprises two additional bathrooms.
The property also includes a recreation area in the basement. Monthly condominium fees of $415 cover water and snow removal, adding to the convenience for the owners.
Location and Accessibility
As per Mr. Howard, the property is ideal as a starter home due to its accessibility and proximity to amenities. It offers quick highway access to Calgary or the airport, making it a convenient choice for frequent travelers. Additionally, it is reasonably close to essential amenities such as shopping centers and grocery stores, making it an attractive option for homebuyers.
