More supply, slower sales & steady prices. Buyers gain leverage, especially in the Townhouse segment.
Inventory climbed to 298 units, more than double last year’s 144 and above the 10-year average of 244. Supply gains pushed the months of supply over four months, indicating more balanced conditions overall.
Cochrane’s housing market showed signs of cooling in August as sales slowed relative to new listings. There were 70 sales compared to 139 new listings, pulling the sales-to-new listings ratio down to 50%. For every 2 homes listed, 1 home sold. This is the lowest it has been for August since 2015.
Inventory climbed to 298 units, more than double last year’s 144 and above the 10-year average of 244. Supply gains pushed the months of supply over four months, indicating more balanced conditions overall.
Notably, detached homes bucked the trend, with sales up 34% year-over-year, showing continued buyer demand in this segment. In contrast, row/townhouse sales dropped sharply, and inventory in this segment surged more than 300% compared to last year. This has driven the months of supply for row/townhouses to over 7 months indicating strong buyer market conditions.
Average days on market rising to 49, up from 43 in July and almost double the time from August 2024, indicating homes are taking longer to sell.
Despite these shifts, prices held steady. The unadjusted benchmark price held at $589,100, nearly unchanged from last month, up 2% year-over-year and 4% year-to-date, highlighting that values are still on an upward trend in Cochrane.
What does this mean for buyers & sellers? For buyers: more inventory, especially in the row/townhouse market, means increased choice, more negotiating power, and less urgency to act quickly. Detached homes, however, remain competitive, with stronger demand keeping conditions tighter.
For sellers: detached homeowners are still in a relatively favourable position, but row/townhouse sellers face a much more challenging environment. Longer selling times, more competition, and softer demand mean pricing strategy and presentation will be critical to stand out amongst the competition.
As we make the seasonal transition into the Fall market inventory tends to build. Buyers heading into the fall market will find the best opportunities in the row/townhouse sector. Reach out to your favourite Realtor to inquire about inventory and the where the best deals might be waiting.
