CREB®’s January 2025 regional figures, released on February 3, show supply improving in Airdrie and Cochrane while Okotoks stays tight.
Benchmark price, January 2025
Airdrie
Sales were in line with last month and last year, well above long-term trends. More new listings lifted months of supply to 2.6, above two for the fifth month in a row; supply had been under two months since 2021. The benchmark price was $537,300, down from December but nearly 4% higher than last year.
Cochrane
There were 104 new listings and 71 sales, and inventory rose to 156, better than the past three years but below long-term trends. Supply has also been above two months for five months. The benchmark price was $565,900, nearly 5% higher than last January.
Okotoks
New listings stayed low. With 68 homes for sale, inventory is half of pre-pandemic January levels. The benchmark price was $614,900, slightly up from December and nearly 5% higher than last year.
What it means: Airdrie and Cochrane buyers can take more time this winter. In Okotoks, be ready to act quickly.
Compared with last January
CREB’s regional statistics package shows Airdrie had 112 sales in January, 7.7% more than a year earlier, while new listings jumped 66.9% to 222. That lifted inventory to 295 and months of supply to 2.63. In Cochrane, 104 new listings and 71 sales pushed inventory to 156, about 2.2 months of supply. In Okotoks, new listings stayed low compared with last year, and the 68 homes for sale are half the level of Januaries before the pandemic.
Compared with December
Airdrie’s and Cochrane’s benchmark prices dipped from December, while Okotoks posted a slight monthly gain. All three remain about 4% to 5% above last January. In Airdrie, CREB said more supply in both the resale and new home markets has taken some of the pressure off prices.
Context
Since 2021, Airdrie had less than two months of supply. Airdrie and Cochrane have now been above two months for five straight months, which CREB says is easing the upward pressure on prices. Okotoks is the exception: limited supply has driven much of its price growth since 2021.
What it means for buyers
In Airdrie and Cochrane, buyers have more listings to compare than in recent Januaries and can take more time. In Okotoks, buyers should get pre-approved and be ready to act quickly, since the market is still tight.
What it means for sellers
Airdrie sellers face competition from both resale and new homes, so pricing near recent sales is important. Okotoks sellers remain in a strong position but should still price realistically, since the benchmark is only about 5% above last year.
Local angle
Nearby Chestermere had a January benchmark price of $694,300, with 155 homes for sale and 2.77 months of supply, more supply than any of the three towns. Buyers looking east of the city may find more choice there than in Okotoks, though at a higher typical price.
Practical takeaways
Watch new listings over the next two months, since spring listings will show whether the improvement continues. Compare each town’s months of supply, not just its prices. Remember that a benchmark price describes a typical home, not the specific home you want.
Airdrie’s sales-to-new-listings ratio was 50% in January, the same as in the city of Calgary, and its 2.63 months of supply was slightly above Calgary’s 2.51. For the first time in years, buyers in Airdrie and in the city face broadly similar conditions, while Okotoks remains tighter than both.
For Cochrane, CREB’s 2025 forecast cautions that while new supply is expected to provide more options, achieving balanced conditions will take time.
