OKOTOKS HOUSING MARKET

The Okotoks real estate market had a record year in 2013 and it looks like 2014 is going to continue where 2013 left off. The Okotoks housing market in 2014 is already indicating higher prices and we have a definite shortage of supply. This shortage of supply with high demand means we are in a seller’s market.

A record 547 homes were sold in Okotoks in 2013, a figure that is slightly higher than the previous record set seven years ago. The demand for houses coupled with the drop of homes listed on the MLS in 2013 has been driving Okotoks house prices up. The overall number of homes in Okotoks listed for sale in 2013 was down 13.5 % over 2012.

Single family home sales in Okotoks were up nearly 13% in 2013. Average sale prices were also up, they increased to $438,664 from $415,414 set the previous year. Three of the homes I sold in January attracted multi offers and two properties sold within 48 hours.

Some of the problems the housing market in Okotoks is facing is the dwindling supply of land available for builders and new development. This dwindling supply of land is largely to do with water supply. Okotoks simply does not have a enough water available for new development.

Many people who are buying homes in Okotoks are moving here from outside of the area. My website is seeing a huge increase in traffic from people living outside of Alberta and Canada. Okotoks has got a fabulous reputation as being one of the best small towns to raise a family.

Many of the people who contact me want to come and live in Okotoks for its family friendly appeal. I have seen an increase in people relocating for work reasons, many of whom work in the oil and gas industry. When you are away working in the oil patch for two weeks at a time you want to know your family is safe at home. Okotoks definitely offers this comfort to families.

Okotoks is also attractive to people who have to work in the City but want to live in a small town. Many of the people who live in Okotoks work in Calgary and commute each day. The newly opened Stoney Trail has made the daily commute to the City much easier for Okotoks residents.

If you are looking to sell a home in Okotoks I would like the opportunity to discuss your options with you. Demand is very high so right now is a good time to sell.

If you are looking to buy a new home in Okotoks I would recommend you seek the services of a Realtor who lives in the town. Local knowledge and the ability to react quickly to new homes as they come on the market will be key to your success.

About the Author

Samantha Clement is an Okotoks based Realtor who specializes in helping people buy and sell real estate in the Okotoks, Calgary and surrounding areas. Samantha is an accredited buyers representative, certified condominium specialist and a certified home stager. If you are considering selling or buying a home Samantha would love to help. You can contact Samantha through her website or by calling or texting at Tel 403.605.7200

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Buying