Calgary’s bedroom communities ended 2020 with a bang with rising sales, outperforming the previous year, despite the impact of the pandemic.
“Outlying areas really had a strong second half to the year,” says Ann-Marie Lurie, chief economist at the Calgary Real Estate Board.
While Calgary also had a strong half, sales growth was not strong enough to make up entirely for the pandemic’s impact. Sales were down slightly for 2020 — 1.2 per cent —f rom 2019.
But Cochrane, High River, Airdrie, Okotoks, Chestermere, Strathmore and Canmore all saw increases in sales over 2019.
“The difference is pricing,” says Lurie, noting communities like Airdrie and Cochrane are primarily single-family detached home markets with lower average prices than Calgary.
Like most bedrooms communities, both saw double-digit percentage growth as a result of this demand, she says. Airdrie’s sales were up almost 18 per cent last year over the previous year, CREB data shows. Cochrane’s sales grew more than 16 per cent.