The Median Sale price for residential detached homes in Okotoks decreased in January with a Median Sale Price of $429,150 compared to $517,000 in December.
This is not a result of property values decreasing, more a result of active buyers looking in the $400K range instead of the $500K range.
Total Sales in January is 16 compared to 12 in December...only a slight increase in activity this month.
Average Days on Market is 66 compared to 83 in December. This means homes are selling quicker, most likely because new inventory is priced closer to the $400K range.
I suspect as we get closer to the spring market and with the recent pipeline project announcements, consumer confidence will improve, resulting in increased activity in the Real Estate Market.
If you have any questions about the current real estate market, don't hesitate to ask me