The number of sales in detached Okotoks homes increased this month, with 53 sales compared to just 39 in May.
The number of new listings decreased to 80 from 125 in May. While this is a positive sign, there is still excess inventory & few buyers which means it's still a buyers market.
Sellers must be aggressive with their pricing in order to sell.
The average days on market (DOM) was 56 for June compared to 49 in May.
The Median Sale price for June was $455,000 compared to $449,990 in May, so not much change there.
Recent mortgage rule changes & higher lending rates are major factors weighing on demand & house prices.
The summer months are typically slow as families are focusing on their summer holidays.
Remember, I'm always available to answer your real estate related questions. If you're thinking of buying or selling in Okotoks, don't hesitate to contact me to discuss your best options in this difficult real estate market.