Market activity in April was relatively the same as March.
We saw a Median Sale price of detached Okotoks properties of $443,125, down slightly from $456,250 in March.
Average Days on Market (DOM) was 53 in April compared to 62 in March.
In total, we saw 36 sales in April, with March seeing 33.
The number of new listings decreased slightly from March at 77 new listings compared to 86; however, this number is still much higher than benchmark numbers. This is a sign that sellers are eager to get their properties listed in anticipation for a busy spring market.
It's difficult to predict just how busy the spring market will be, although I don't believe the spring market has started yet.
The snow in April has delayed things. The changes in mortgage rules over the last few months has certainly impacted the amount of qualified home buyers and the amount buyers can afford.
I'm hopeful activity will increase now that spring has finally arrived, however it is still a buyers market and sellers must be competitive with their pricing if they want to move their properties.
Remember, I'm always available to answer your real estate related questions. If you're looking to sell or buy a property in Okotoks, don't hesitate to contact me to discuss your best options in our ever changing real estate market.