Calgary's Real Estate Board released their Market Statistics for the month of February. Here are some key takeaways for Cochrane:
-New listings reached a record monthly high in February.
-The number of sales nearly matched the number of new listings, causing Cochranes inventories to fall to the lowest levels ever recorded.
-This is fourth consectutive month in a row where Cochranes market has below one month of supply.
-Low levels of supply are continuing to put upward pressure on prices, especially for detached and semi-detached homes.
-The Benchmark price for homes in Cochrane rose to $548,000. 7% higher than last month, and 21% higher than February 2021.
-Apartment style properties continue to record prices below previous high prices seen in 2007.
The Bank of Canada will be implementing a higher interest rate on March 2nd.