Cochrane Market Update - March 2024

Optimistic Trends Persist in the Cochrane Real Estate Market for Spring 

The outlook continues to be positive for the Cochrane real estate market as the year over year detached benchmark house price rises 12% to $654,000. The increase coincides with a significant decrease in both inventory and new listings by 22% and 25% respectively. These declines can be attributed to the substantial rise in lending rates observed in 2023, alongside record high in interprovincial migration. 

With the current months' supply of inventory just over 1 month, a 29% decrease from the previous year and the average days on market also decreasing by 10% to 37 days, the market conditions continue to favour sellers, further amplifying price gains. 

As we head into April the combination of improved weather, increased buyer activity, and favourable market conditions makes Spring an opportune time to list and sell your house. If you'd like to have a conversation about maximizing the potential of your property and navigating your selling journey I'd love to connect!