CREB®’s May 2025 regional figures, released on June 2, show Airdrie prices easing, Cochrane cooling and Okotoks still short of supply.
Benchmark price, May 2025
Airdrie
Year-to-date sales are 772, down 10% but in line with long-term trends. The sales-to-new-listings ratio fell to 58%, from over 90% last year, and 468 homes were for sale. A surge in new construction is giving buyers more options. The benchmark price was $540,600, nearly 2% below last year.
Cochrane
Sales fell 17% from last May, and new listings surged, cutting the ratio to 55%. Inventory of 293 is in line with long-term trends, and supply neared three months. The benchmark price was $589,400, still nearly 4% higher than last year.
Okotoks
More new listings supported a jump in sales, but with a 74% ratio, supply fell back below two months. Inventory is nearly 28% below long-term trends. The benchmark price was $633,900, over 2% higher than last year.
Chestermere
CREB’s statistics package shows 73 sales, 157 new listings and 244 homes for sale, or 3.3 months of supply. The benchmark price was $715,100.
What it means: Okotoks is the exception in the region; elsewhere, buyers can compare and negotiate.
Compared with April
Inventory rose again in three of the four towns. Airdrie went from 433 homes for sale in April to 468, Cochrane from 246 to 293 and Okotoks from 127 to 135. Chestermere edged up from 237 to 244. Airdrie’s sales improved from 185 in April to 193 in May, but its new listings rose faster, from 290 to 334, so the sales-to-new-listings ratio fell from 64% to 58%. Airdrie’s benchmark eased from $544,700 to $540,600, while Okotoks moved up over the month. Chestermere’s benchmark rose from $705,900 to $715,100, and its months of supply eased from 3.8 to 3.3.
Compared with May 2024
Cochrane had 108 sales, down about 17% from last May, while new listings jumped to 197. Its 293 homes for sale are 122% more than a year ago, and months of supply reached 2.71. Okotoks went the other way on sales, with 95 sales, up about 27%, on 128 new listings. Its inventory of 135 is about 61% higher than last year but still well below long-term norms, and supply is just 1.42 months. In each town, the benchmark price is the clearest guide: Airdrie is nearly 2% lower than a year ago, Cochrane is up 3.7% and Okotoks is up 2.0%.
Detached benchmark price, May 2025
Detached homes compared
For buyers looking at a detached house, the gap between Calgary and the nearby towns remains meaningful. CREB’s May package puts the detached benchmark at $648,600 in Airdrie, $685,800 in Cochrane and $718,500 in Okotoks, compared with $769,400 in Calgary. Chestermere is the exception, at $815,400. The difference of more than $100,000 between Airdrie and Calgary is one reason buyers compare homes in the towns before deciding.
What it means for buyers
Airdrie and Chestermere give buyers the most room to compare homes and negotiate, with supply above two and three months. In Cochrane, supply is rising quickly, so a home that has sat for a few weeks may be open to an offer. In Okotoks, expect competition for well-priced homes and be ready with financing in place.
What it means for sellers
Sellers in Airdrie compete with new construction and should price close to the current benchmark. In Cochrane, prices are still above last year, but rising inventory means first impressions and pricing matter more. Okotoks sellers remain in the strongest position in the region.
Local angle
Commuting costs and time matter as much as the price. A cheaper detached home in Airdrie or Cochrane can make sense for a family that works on the north or west side of Calgary, while Okotoks suits those who work in the south.
