Cochrane has seen a big bump in new listings of homes for sale, but the town is still sitting below average trends.
“New listings improved, reporting the highest October total on record,” reads the October report released by The Calgary Real Estate Board (CREB). Recent gains in new listings relative to sales have helped support some steady gains in inventory levels.”
“However, with 178 units available in October, inventories are still below long-term trends, keeping the months of supply relatively low at 2.3 months.”
With the increase in options, the pace of local home prices is slowing but still up nine per cent from this time last year.
The average price of detached homes in Cochrane now sits at $671,500.
Looking at nearby spots, both Airdrie and Okotoks are also seeing prices and demand go up.
Then there is Canmore, where the benchmark price for a detached home has soared past $1.6 million.
Calgary’s average home prices increased 8.1 per cent year over year and sits at $753,900.
