Okotoks, Alberta Real Estate Market Data
Updated: Nov 2024
House
| Median price | $500,000 |
| Monthly growth | 1.2% |
| Quarterly trend | 3.5% |
| Stock on market | 0.8% |
Apartment
| Median price | $300,000 |
| Monthly growth | 0.9% |
| Quarterly trend | 2.1% |
| Stock on market | 1.2% |
Prices by Number of Bedrooms
Houses
| Bedrooms | Median Price |
|---|---|
| 2 bedrooms | $400,000 |
| 3 bedrooms | $500,000 |
| 4 bedrooms | $600,000 |
Apartments
| Bedrooms | Median Price |
|---|---|
| 1 bedrooms | $250,000 |
| 2 bedrooms | $350,000 |
| 3 bedrooms | $450,000 |
Demographics
| Current Population (2025) | 15,000 |
| Previous Population (2020) | 14,000 |
| Population Change | 7.1% |
| Total Private Dwellings | 6,000 |
| Occupied Private Dwellings | 5,500 |
| Population Density (per km²) | 1.5 |
| Land Area (km²) | 2,500.5 |
Market Analysis
Current Market Conditions and Trends
The real estate market in Okotoks, Alberta, is currently experiencing steady growth. With a median house price of $500,000, there has been a moderate year-over-year increase of 3.5%. This suggests a healthy demand for single-family homes in the area. Similarly, the apartment market is also showing positive movement with a median price of $300,000 and a 2.1% rise over the past year. The town’s growing population, now at 15,000 residents reflecting a notable 7.1% growth rate, is contributing to the sustained demand for housing.
Investment Opportunities and Potential
Okotoks presents an attractive profile for both residential and rental property investments. The consistent growth in population indicates a potential for an increasing demand in housing over time. Investors can capitalize on the town’s growth by investing in properties that are likely to appreciate due to the upward trend in prices. Moreover, the lower median price point for apartments compared to houses highlights an opportunity for entry-level investment with promising returns, especially considering the gradual increase in apartment values.
Future Market Outlook
The future outlook for Okotoks’ real estate market remains optimistic. Given the town’s steady population growth paired with ongoing economic development efforts, it is reasonable to expect continued demand for housing. The current trends suggest that both housing prices and rental rates may continue to rise modestly, offering opportunities for capital gains and rental income appreciation. However, investors should remain cognizant of broader economic conditions that could influence mortgage rates and affordability—factors that ultimately impact buyer activity and market dynamics.
