The real estate market in Cochrane is rebounding, but the number of houses on the market is starting to swell beyond normal levels as sellers become more confident.

New dwelling units in 2010 increased 83 per cent over the same period last year, according to the Town of Cochrane.

Cochrane statistics for May from the Calgary Real Estate Board show a 17 per cent increase in overall inventory and 22 per cent decrease in days on market from compared to May 2009.But the number of homes on the local market has grown significantly heading into the second half of the year, when fewer homes typically sell, said a local realtor.

“There’s been a rebound, there’s absolutely no question,” said Rob Reynar of Morris-Reynar and Associates. “We simply have a lot of inventory right now.”

“(Buyers) have to treat offers with respect. When we get into the later stages of the year, they may be harder to come by.”
As of June 7, there were 267 active listings in Cochrane.

Reynar said that homes taken off the market during the slump of 2009 are starting to come back on the market, but at overinflated prices.

About 80 per cent of Cochrane homes are listed under $500,000, a stat Reynar said was very healthy.

“I think we’re back to Cochrane norms,” Reynar said. “The market is still healthy, I just think sellers have to be cautious.”
New residential MLS listings in April are up more than 30 per cent in Alberta compared to last year, according to the Canadian Real Estate Association.

Sales rose 5.9 per cent, while prices rose 7.7 per cent.

Housing starts in the Calgary Metropolitan Area in the first quarter of 2010 grew by 188 per cent since last year.

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