In 2023 we saw 27,416 sales, a drop from the previous peak but still above long-term norms.

There has been a shift towards budget-friendly condos emerging, reflecting pragmatic market changes.

Higher lending rates posed challenges, but substantial migration buoyed the market, especially in affordable housing.

CREB® Chief Economist Ann-Marie Lurie recognized these factors’ impact on market dynamics.

Supply and demand continued, with inventory consistently below long-term trends, down 44% from the 10-year average.

Months of supply remained below two, particularly for homes under $1,000,000, showcasing a realistic market view.

Despite challenges, the city hit a new price record, with annual growth slowing to nearly six percent in 2023.

What’s the current market in Okotoks?

2023 has been left behind, and 2024 is upon us. As of today, 2nd January 2024, there are currently 42 active properties for sale in Okotoks, AB. These range from the most expensive, a bungalow in Air Ranch currently listed at $1,999,000, to an apartment in North Railway Street which has 2 beds and 1 bath currently listed at $174,900.

How many properties are under contract?

7 properties are currently under offer in Okotoks (another couple of words are either pending or conditional) these include the highest listed property a bungalow in Mountain View, listed at $1,179,000, and the lowest listed, a townhome in Westridge with 2 beds and 3 baths listed at $248,000.

What are your real estate goals for 2024?

The start of the year is a great time to reassess your living arrangements! Whether you are looking at buying your first home, your last, or anything in between please click HERE to get in touch so we can get the ball rolling on your dreams!

If you are looking to sell to release some equity for the next home then please click HERE and complete the What’s your home worth.