According to the Calgary Real Estate Board, home sales in the region are looking strong. This is a great time to buy or sell real estate in the Okotoks area, as sales are on the rise and real estate is in demand. There are plenty of homes available and the destination is becoming a target region.
A Booming Market
Current sales figures show an increase of nearly 30 percent over the past year. New listings are up over 25 percent. This is the best third quarter the city has ever seen, with a total combined jump of over 16 percent from last year. This double-digit sales growth makes real estate in Okotoks even more attractive to new buyers.
Attractive Region
There are many factors that go into the region’s current success. It is in great proximity to the Calgary metro region, the QE2, and the airport. Properties in the area remain very affordable. The city proximity means access to all of the arts, entertainment, fine dining and cultural amenities one could desire.
The area is in an excellent geographic location. This means that in future years, it will likely continue to grow in terms of wealth and desirability.
A Balanced Market
While current conditions still slightly favor a seller’s market, there have been more homes listed recently. This has lowered prices a bit, creating a more balanced market. Prices for typical homes in the area during the third quarter are settling around $418,000.
Homes in the region tend to be newer, resulting in lower maintenance costs for owners. They also skew towards larger than average lot sizes. This creates an attractive home buying region. The lifestyle choice, affordable large homes and proximity to urban regions appeals to new homeowners.
Urban to Suburban
While in many areas young families are moving towards urban areas, in this region more and more consider suburban options. This is because affordable options in the city are scarcer and the suburban infrastructure has improved. Schools and healthcare options in suburban areas have seen quality growth in recent years.
With record sales on pace, now is a great time to move on that new home in the area. If you are looking for a new home, you cannot go wrong in Okotoks. We are here to help you find the house of your dreams. There is no time like today. Give us a call!
