Okotoks house prices continue to set records.
According to statistics released by the Calgary Real Estate Board, the benchmark price in Okotoks reached $617,200 in April, marking the third straight month that a new high has been reached.
The benchmark price, which the board says is the price of a typical home in an area, set all-time highs of $605,500 in February and $610,700 in March before rising again last month.
It’s the sixth time in the last 13 months that the benchmark price in Okotoks has set a record.
The benchmark price is up 7.9 per cent year over year.
The detached benchmark price in Okotoks in April was $690,300, up from $683,100 a month earlier and 8.8 per cent higher than the previous year.
According to the real estate board, prices improved across all property types, with the highest gains occurring for semi-detached and row homes.
Inventory levels remain 60 per cent below what is typically on the market at this time of year, which continues to favour the seller and is driving further price growth, the board stated.
There were 65 sales and 89 new listings last month.
The most active sector of the market last month was between $700,000 and $999,999, which saw 14 sales, followed by 12 sales between $500,000 and $599,999 and 11 between $600,000 and $699,999.
There were six sales over $1 million, up from two in the same month last year.
In High River, the benchmark price increased to $476,500 in April, up from $466,100 in March and 8.7 per cent higher year over year. There were 36 sales and 38 new listings in High River last month.
There were 13 sales between $500,000 and $699,999 in April, compared to just four in that price range in the same month a year ago.
A comparison of detached benchmark prices across the region shows Calgary at $749,000, Airdrie at $649,900, Cochrane at $663,500, High River at $554,300 and Chestermere at $792,200, which are up anywhere from 7.7 to 13.1 per cent year over year.
