Tight Supply Remains
Cochrane reported sales and new listings that trended downward from the second quarter of 2022, yet sales remain above the long-term average. This lack of listings has likely prevented more substantial sales growth, particularly in the high-density apartment and row sectors.
Although average inventory has improved slightly compared to the previous quarter and previous year, it still remains extremely tight with just over 1 month’s supply, facilitating price increases.
In Cochrane, the unadjusted benchmark price reached $516,300, marking an almost 5% increase from the first quarter of 2023 and remaining relatively stable compared to 2022.