Activity increased slightly in December over November as some homebuyers purchased before the mortgage changes came into effect January 1st.
There were 30 sales in detached Okotoks properties in December while there were 25 in November.
The median sale price decreased to $415,125 in December compared to $467,500 in Nov. This is the largest decrease we've seen all year. The Christmas season, a surplus in inventory and few active buyers all contributed to forcing sellers to be more competitive with their pricing.
There were 31 new listings in December compared to 51 in November...again, the Christmas season effects this.
It's difficult to predict what to expect for January; we could see a slight increase in activity as homebuyers focus on their home search now that the holidays are over.
Remember, I'm always available to answer your real estate related questions. If you're thinking of buying or selling your Okotoks home, don't hesitate to contact me to discuss your best options.