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10 Things You Need to Know About the Okotoks Real Estate Market

By
Real Estate Agent with Royal LePage Benchmark

 

Okotoks_bigrock_closeupMarch 15, 2013

 

1. There are 122 single family (SF) homes on the market as of March 13

2. Thirty five SF homes have sold in the last 30 days compared to 31 over the same time last year.

3. The average price of these 35 SF homes was 408,476 compared to 405,603 last year.

4. Average number of days on market for a SF home is 63 compared to 36 for Calgary.

5. Speaking of Calgary, the average price of the houses sold over the last 30 days was 517,840. The average price of houses sold during the same time period last year was 465,496.

6. As of October 16, 2012, there were only 469 vacant residential lots left in Okotoks.

7. In 2011, there were 217 SF housing starts. Assuming a similar number in 2012, there appears to be about 2 years worth of vacant lots in Okotoks.

8. The number crunchers calculated that from 2006 to 2011,Okotoks is the 10th fastest growing community in Canada at 42.9%

9. A quick glance at one of the most active rental sites, www.rentfaster.ca, tells us that there are only 7 properties renting for under $2000 per month in Okotoks. I  wonder how many are still available?

10. According to mlxchange.com (the REALTOR internal database that feeds realtor.ca), over 300 different real estate agents represented buyers in Okotoks in 2012. Over 200 of these agents  represented one single  buyer. Only five agents  represented more than 10 buyers.

What do you think? Where is the Okotoks market going?