AIRDRIE | CALGARY | COCHRANE
Airdrie: Sales activity reached 1,951 units in 2024, an increase of over 4% from 2023. The rise in new listings, particularly in the latter part of the year, improved inventory levels and balanced market conditions. The annual benchmark price increased by nearly 8%, with significant gains in higher-density homes.
Calgary: December ended with 1,322 sales, a 3% decline from 2023 but nearly 20% above long-term trends. Overall sales in 2024 were slightly below 2023 levels, with higher-priced homes offsetting declines in lower price ranges due to supply challenges. Inventory reached 2,989 units in December, higher than the previous December but below long-term trends. More housing options in the latter half of the year stabilized home prices, with residential benchmark prices rising over 7% annually. Supply will be crucial in 2025, impacting prices based on the type of supply and economic conditions.
Cochrane: Market conditions favored sellers for most of 2024 due to strong sales compared to new listings. The last quarter saw more new listings, easing the sales-to-new listings ratio to more balanced levels and supporting some inventory gains, although still below long-term trends. The increase in inventory relative to sales pushed the months of supply above two months, reducing price pressure but not offsetting earlier gains. The annual benchmark price rose nearly 9%, averaging $565,808 in 2024.
