Okotoks real estate market activity is increasing as we ease into the spring market...just what we all like to hear
In the month of March, Okotoks saw 46 sales in residential detached properties; this is an increase from only 28 sales in February.
The average days on market for March is relatively the same, at 61 compared to 65 in February.
There were 71 new listings in March, up from 62 in February.
And, the number everyone wants to know, the median sale price is $460,750 for March, up slightly from $450,000 in February.
An increase in new listings, increase in the number of solds and an increase in the median sale price means the market is picking up.
Part of the increase in activity is attributed to the increase in CMHC fees in mid March, pushing buyers to get in before the deadline.
While it's great to see activity and prices in an upward trend, we are still in a buyers market. There's still a fair bit of inventory for buyers to choose from.
60% of all housing sales typically happen during the second and third quarter of every year, as spring is the busiest time for real estate. Let's hope the trend continues to climb in Okotoks.
If you have any questions about the real estate market, don't hesitate to contact me...I'm happy to assist!