It looks like the Okotoks housing market is having a "down" month.
Okotoks residents are seeing a decrease in new listings and sales activity in the local housing market, according to the Calgary Real Estate Board (CREB). In August, there were 55 sales and 68 new listings, resulting in an elevated sales-to-new-listings ratio of 81 per cent.
Okotoks has struggled with low supply levels since 2021, but the additional supply choice in competing markets is helping to prevent further price increases, according to market analysts with CREB.
The total residential benchmark price in Okotoks as of August was $608,400, a decrease of nearly two per cent from last year’s levels. The town’s inventory of 133 units is trending slightly upward, with just over two months of supply.
For comparison, Foothills County recorded 116 sales and 156 new listings in August, bringing inventory to 360 units and just over three months of supply. The benchmark price in the county is higher than in Okotoks at $679,600.
High River saw 22 sales and 32 new listings in August, holding just three months of supply. The total residential benchmark price has trended downward to $499,100, just over one per cent lower than last year.
Leave a Reply