A new record-high benchmark for real estate in Cochrane was reached in 2022, according to December sales statistics released this week by the Calgary Real Estate Board (CREB). Cochrane also experienced an eight per cent year-to-date decline in sales.
CREB says the pullback in December has helped increase the inventory level of houses on the market in Cochrane. While inventory levels remain low, the decline in sales has resulted in more balanced conditions and is taking some of the pressure of price growth seen over the last four months of the year.
It was the lowest number of December sales since 2019.
Despite this drastic change in the sales picture from the first half of 2021, the December benchmark price was $504,067, 17 per cent higher than the year previous.
CREB says price gains were the strongest in both the detached and semi-detached sectors, where prices rose by 19 per cent, establishing 2022 as the new record-high price.
There were 45 sales in December and 36 new listings, leaving 101 homes on the market, a 65.6 per cent year-to-year increase.
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