The Rockyview region is relatively diverse, featuring traditional communities as well as acreages. Springbank and Bearspaw, which are home to many of Rockyview’s higher-end properties, account for more than half of the sales in the rural region.

Sales here picked up throughout the second half of the year, more than offsetting the earlier pullbacks and causing year-to-date sales to rise to levels far higher than the activity recorded over the previous five years. Meanwhile, reductions in new listings helped lower inventory levels and dropped the months of supply.

This segment of the market has struggled with significant supply relative to sales since the energy crisis in 2014. The reductions in supply helped prevent further price declines from July to December, but overall, prices remain two per cent lower than last year’s levels and 14 per cent lower than 2014.