Regional Market Update

 

Cochrane
In February, Cochrane saw a rise in both sales and new listings. Sales reached 75 units, and new listings climbed to 126, both higher than last year and above the long-term averages. Inventory increased by more than 48%, totaling 196 units— the highest seen since spring 2021, though still below typical February levels. This uptick in inventory brought the months of supply to 2.6 months, the highest since the pandemic, but still lower than historical levels. Despite tighter conditions, prices picked up, with the benchmark price increasing by over 5% year-over-year to $577,100.

Okotoks
In Okotoks, February saw a 4% decline in sales, with 45 units sold, but this was still in line with long-term trends for the month. New listings increased by 7%, reaching 60 units, though still below typical February levels. Inventory rose by 19% from 2024 to 69 units, but it was still much lower than the historical average for the month. With tighter inventory, the months of supply dropped to just 1.5 months, well below the usual February levels. Even with these tighter conditions, the benchmark price remained flat compared to January and was just slightly up by under 1% from last year.

Airdrie
The Airdrie market in February followed typical trends, with a slight dip in sales while new listings and inventories rose. Sales dropped by about 9%, totaling 123 units, while new listings increased by nearly 23%, reaching 225 units. This combination of fewer sales and more listings pushed inventory up to 345 homes, more than double what was seen last year. As a result, months of supply went up to nearly three months, which is in line with long-term averages and the highest level since before the pandemic. The benchmark price stayed stable at $537,600, only 1.6% higher than February 2024 but still below fall prices.