CREB®’s February 2025 regional figures, released on March 4, show Airdrie back near long-term norms, Cochrane improving and Okotoks still tight.
Months of supply, February 2025
Airdrie
Sales fell nearly 9% to 123, while new listings rose nearly 23% to 225. Inventory more than doubled to 345, and months of supply reached 2.8, in line with long-term averages. The benchmark price was $537,600, flat from January and 1.6% higher than last year.
Cochrane
Sales reached 75 and new listings 126, both above long-term averages. Inventory rose over 48% to 196, the highest in any month since spring 2021. Supply recovered to 2.6 months. The benchmark price rose over 5% to $577,100, near the record set last summer.
Okotoks
Sales fell 4% to 45. New listings rose 7% to 60, well below normal for February. Inventory was 69, 19% above last year but far below historical levels, and supply was just 1.5 months. The benchmark price was flat from January and under 1% higher than last year.
What it means: Airdrie is now a more balanced market. Okotoks remains the tightest town in the region.
Compared with January
In January, Airdrie had 295 homes for sale and 2.6 months of supply, Cochrane 156 and Okotoks 68. In February, Airdrie’s inventory rose to 345 and supply to 2.8 months, the highest since before the pandemic. Cochrane’s inventory rose to 196, while Okotoks barely changed at 69. Benchmark prices were essentially flat from January in Airdrie, at $537,600, and in Okotoks. Cochrane was the exception, with prices recovering to $577,100, near the record set last summer, from $565,900 in January.
Context
CREB said Airdrie’s market fell roughly in line with its long-term averages in February. That is a big change for a town that had less than two months of supply from 2021 until last fall. In Cochrane, inventory reached its highest level in any month since spring 2021, though still below long-term averages for February. In Okotoks, new listings of 60 remained well below typical February levels.
What it means for buyers
Airdrie buyers now have a market close to normal for the first time in years, with more homes to compare and more time to decide. In Cochrane, more listings are helping, but relatively tight conditions are still supporting prices. In Okotoks, with 1.5 months of supply, buyers should expect competition for well-priced homes.
What it means for sellers
Airdrie sellers face more competition and prices below last fall’s levels, so an accurate price is essential. Cochrane sellers are benefiting from strong sales of 75 and prices near a record. Okotoks sellers remain in a strong position, although the benchmark price was under 1% higher than a year ago, so buyers are not paying much more than last year.
Local angle
CREB’s regional statistics package shows Chestermere had 198 homes for sale in February and 4.21 months of supply, with a benchmark price of $697,300. That makes it the most supplied of the commuter towns east and north of Calgary, while Okotoks, south of the city, is the tightest.
Practical takeaways
Buyers deciding between towns should compare months of supply as well as prices. Sellers in Airdrie should check recent sales from the past month, not last year. In Okotoks, watch for new listings and be ready to act quickly.
The numbers behind the change
Airdrie’s sales fell nearly 9% to 123 while new listings rose nearly 23% to 225, which put its sales-to-new-listings ratio at 55%, below Calgary’s 61%. Cochrane’s sales of 75 and new listings of 126 were both above long-term averages. In Okotoks, sales of 45 were in line with long-term averages, but new listings of 60 left little to choose from.
