Sales in Cochrane continued to remain strong in May, supporting a year-to-date annual gain of nearly seven per cent. While we have seen some signs of improvement in new listings, that was not the case this month. The sales-to-new-listings ratio rose to 98 per cent, higher than levels seen over the past four months. With no additions to the inventory in the market, the months of supply remained below one month. This supported persistent sellers’ market conditions.
The tight conditions continue to place upward pressure on prices. However, the pace of growth is starting to slow as May prices were 18 per cent higher than last year’s levels. Price growth remains the strongest for detached and semi-detached properties with year-over-year gains pushing 21 per cent.
CREB Media Release June 1, 2022