Okotoks, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $508,000 |
| Monthly growth | 1.1% |
| Quarterly trend | 3.2% |
| Stock on market | 0.7% |
Apartment
| Median price | $320,000 |
| Monthly growth | 0.8% |
| Quarterly trend | 2.5% |
| Stock on market | 1.0% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $420,000 |
| 3 bedrooms | $508,000 |
| 4 bedrooms | $620,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $260,000 |
| 2 bedrooms | $360,000 |
| 3 bedrooms | $460,000 |
Demographics
| Current Population (2025) | 15,500 |
| Previous Population (2020) | 15,000 |
| Population Change | 3.3% |
| Total Private Dwellings | 6,200 |
| Occupied Private Dwellings | 5,800 |
| Population Density (per km²) | 1.6 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Okotoks, Alberta, is currently characterized by moderate growth. The median house price stands at $508,000, which reflects a year-over-year increase of 3.2%. This growth rate suggests a stable market that is not experiencing the rapid price surges seen in some other regions. The median apartment price is slightly lower at $320,000, with a year-over-year increase of 2.5%. This indicates that apartments are following a similar trend of steady, but slower growth compared to houses.
Investment Opportunities and Potential
The investment potential in Okotoks is promising due to several factors. Firstly, the consistent growth in property values indicates a healthy demand for real estate in the area. With house prices showing a modest increase, investors may find opportunities for capital gains over the medium to long term. Additionally, the town’s population has grown by 3.3%, suggesting an expanding local economy and a possible increase in demand for housing. Investors should be encouraged by these demographic trends as they often correlate with a robust rental market and potential for rental income growth.
Future Market Outlook
The future outlook for Okotoks’ real estate market appears positive. Given the town’s steady population growth and manageable property price increases, it is likely that Okotoks will maintain its appeal to both residents and investors alike. The continuous influx of residents could lead to sustained demand for housing, which may result in further property price appreciation over time. However, investors should also consider broader economic conditions and monitor any local developments that could impact property values or rental demand.
