In November, there were 87 new property listings and 51 sales, causing the sales-to-new listings ratio to drop to 59 per cent in Cochrane.

The Calgary Real Estate Board (CREA) released an update on the Calgary and area housing market this week. 

This marks the first time it has fallen below 60 per cent since 2020.

The increase in new listings has been primarily driven by higher-priced properties. Although improved new listings compared to sales have contributed to higher inventory levels, November's inventory remains more than 30 per cent below long-term trends.

The Cochrane real estate market continues to experience tight conditions, supporting additional price growth.

The unadjusted benchmark price reached $548,600 in November, reflecting a monthly increase of over one per cent and a year-over-year rise of 11 per cent.

Benchmark prices have seen a year-to-date increase across all property types, with the apartment condominium sector leading with a gain of over seven per cent.

In response to Canada's Online News Act and Meta (Facebook and Instagram) removing access to local news from their platforms, CochraneNow encourages you to get your news directly from your trusted source by bookmarking this page and downloading the CochraneNow app.