While sales are down, overall, we continue to see detached sales growth in the City Centre, West and North West areas of the city but these are the areas seeing the highest price declines this year, likely due to the number of apartment condos – the hardest hit segment when it comes to sales and price.

City-wide June inventory gains were limited to product priced under $600,000.

Overall average inventory levels remain 26% higher than last year in Airdrie with their apartment and attached segments having faced steeper year-to-date price contractions compared to the detached sector.

Half way through the year, Cochrane recorded sales gains that are largely due to increased activity and selection in the $300,000 – $400,000 range. Some of this increase is related to the higher share of new product being sold on the resale market.

Year-to-date detached benchmark prices in Cochrane had the steepest decline when compared to Airdrie, Okotoks and Chestermere.

While overall sales eased in Okotoks after the first half of the year, detached sales activity increased 15% over last year. While detached prices have recorded some quarterly contractions throughout this downturn, year-to-date prices have remained similar to levels recorded last year.

Co-written with Martin Breeze, Mortgage Broker, TMG The Mortgage Group