Calgary & Okotoks Real Estate Market Update – March 2025: Prices Up Despite Sales Drop! A must watch

Are you curious about the current state of the real estate market in Calgary and Okotoks as of March 2025? Whether you're considering buying or selling, staying informed about market trends is crucial. In this comprehensive update, we'll delve into the latest statistics, analyze key factors influencing the market, and offer insights to help you make informed decisions.​

Calgary Real Estate Market Overview

Calgary's housing market has experienced notable shifts recently. As of February 2025, inventory levels saw substantial year-over-year growth for the second consecutive month, rising by 76% to 4,145 units. This increase in inventory has provided more options for buyers, particularly in homes priced under $500,000. ​

Despite the surge in inventory, sales activity has remained resilient. While there has been a slight decline compared to previous years, sales are still above long-term trends, indicating sustained buyer interest. ​

Price trends have been equally noteworthy. The overall benchmark price for Calgary real estate in February 2025 was $587,600, reflecting stability compared to late 2024 and a 1% increase year-over-year. ​

Okotoks Real Estate Market Overview

The Okotoks housing market has also seen significant activity. As of March 2025, the average house price stands at $688,495, marking a 12.6% monthly increase and a substantial 23.9% rise compared to the same period last year. ​

New listings in Okotoks have been robust, with 137 new properties entering the market in the last 28 days. This influx of listings provides buyers with a variety of options to consider. ​

Interestingly, the median days on market for homes in Okotoks is currently 0 days, suggesting that properties are being sold very quickly upon listing. ​

Factors Influencing the Market

Several factors are contributing to these market dynamics:

Population Growth: Calgary continues to attract new residents, bolstering housing demand.​

Interest Rates: Favorable interest rates have made borrowing more accessible, encouraging both first-time homebuyers and investors.​

Economic Conditions: A stable local economy has instilled confidence among buyers and sellers alike.​

Advice for Buyers

If you're considering purchasing a property in Calgary or Okotoks, here are some tips to navigate the current market:

Act Promptly: Given the quick turnover of properties, especially in Okotoks, it's essential to move swiftly when you find a suitable home.​

Get Pre-Approved: Securing mortgage pre-approval can give you a competitive edge and streamline the buying process.​

Stay Informed: Keep abreast of market trends and be prepared to adjust your strategy as conditions evolve.​

Advice for Sellers

For those looking to sell their properties, consider the following strategies:

Competitive Pricing: While prices are on the rise, setting a realistic price can attract more potential buyers and lead to quicker sales.​

Enhance Curb Appeal: Investing in minor renovations and staging can make your property more appealing to buyers.​

Leverage Marketing: Utilize various marketing channels, including social media and virtual tours, to reach a broader audience.​

Conclusion

The real estate markets in Calgary and Okotoks are dynamic and present unique opportunities for both buyers and sellers. By staying informed and adapting to current trends, you can make decisions that align with your goals. Whether you're looking to buy your dream home or sell your current property, understanding the market landscape is key to a successful transaction.
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