CREB®’s March 2, 2026 report covered February in the towns around Calgary. Each one moved in its own direction.
Benchmark price: January vs February 2026
Airdrie: balanced, prices flat
There were 122 sales and 236 new listings, a 52% sales-to-new-listings ratio. Inventory rose slightly above long-term trends, but with just over three months of supply the market was still balanced. The benchmark price of $512,200 was similar to January and 5% lower than last year. CREB pointed to competition from new homes and more choice in Calgary and nearby towns.
Cochrane: a jump in sales
Sales rose to 91 with 154 new listings, a 59% ratio, which brought months of supply down to three. The benchmark price was $553,500, slightly higher than January but 3% lower than last February, mainly because of declines in the third quarter of 2025. More in our Cochrane guide.
Okotoks: still tight
The sales-to-new-listings ratio fell below 60% and inventory grew, but it remained well below long-term trends, with under three months of supply. Prices rose 2% in a month to $612,300, similar to last February. More in our Okotoks guide.
From January to February
January was a slow start in all three towns. Airdrie had 106 sales and 227 new listings, a 47% ratio. Cochrane reported 149 new listings, its highest January on record, but only 54 sales, a 36% ratio and five months of supply. Okotoks had just 33 sales and 52 new listings, with only 79 homes for sale.
February changed the picture. Airdrie’s sales rose to 122, and its ratio to 52%. Cochrane’s sales jumped to 91 and its supply fell from five months to three. In Okotoks, more listings came to market and the ratio dipped below 60%, but inventory stayed well below long-term trends.
Airdrie’s inventory rose slightly over both January and last year, pushing above long-term trends, yet with just over three months of supply the market is still considered balanced. Its benchmark barely moved, from $513,900 in January to $512,200.
Price comparison with Calgary
Benchmark price in February 2026: towns and the City of Calgary
The City of Calgary’s benchmark was $560,500 in February. Airdrie was about $48,300 lower and Cochrane about $7,000 lower, while Okotoks was about $51,800 higher. Okotoks’ 2% monthly gain was larger than what is typical early in the year, which CREB linked to tight conditions.
Why prices are still below last year
Airdrie and Cochrane remain 5% and 3% below last year. In Airdrie, CREB points to competition from new homes and more choice in Calgary and other nearby areas. In Cochrane, it points to declines mostly in the third quarter of 2025; prices then slipped for three months in a row to January, when the benchmark was $550,800, nearly 2% below December. February’s $553,500 was the first monthly gain after that run. Okotoks, with its limited supply, is already back to last year’s level.
Practical takeaways
- Airdrie buyers: balanced conditions and new-home competition give you room to negotiate.
- Cochrane: conditions are changing quickly. Buyers who waited through January face more competition now; sellers should not assume January’s slow pace will last.
- Okotoks: with fewer than 100 homes for sale at the start of the year, buyers should set up listing alerts and move quickly.
- Everyone: small markets swing from month to month. Look at several months of data before deciding.
How to read these numbers
Two measures tell you who has the upper hand. The sales-to-new-listings ratio shows what share of new listings is matched by sales; the higher it is, the faster homes are absorbed. Months of supply shows how long today’s inventory would last at the current pace of sales. Cochrane’s move from a 36% ratio and five months of supply in January to 59% and three months in February is a big shift in a short time.