Stronger sales in the second half of the year offset earlier pullbacks, resulting in a sales increase of 12 per cent in 2020.
Rising sales were met with a 16 per cent pullback in new listings. This resulted in a significant decline in inventory levels and a months of supply that averaged below four months in 2020, significantly lower than the nearly six months of supply recorded last year.
While tighter market conditions did start to support some price recovery in the area, it did not come soon enough to offset the pullbacks earlier in the year.
On an annual basis, benchmark prices remained nearly two per cent lower than last year’s levels. Like in other jurisdictions, High River’s price declines were largest for the higher-density product types. However, detached homes prices still eased by one per cent in 2020.