After four consecutive record-setting months, Okotoks house prices took a bit of a breather in June, according to statistics released this week by the Calgary Real Estate Board.
The benchmark price, which the board says is the price of a typical home in an area, stood at $615,800 at the end of June, down slightly from a month earlier.
The benchmark price had set all-time highs of $605,500 in February, $610,700 in March, $617,200 in April and $621,400 in May before a moderate decline in June.
The benchmark price is up 5.4 per cent year over year.
The detached benchmark price in Okotoks in June was $695,300, which is down marginally from $699,600 in May but up from $690,300 recorded in April. It’s 6.9 per cent higher than a year ago.
There were 72 sales in Okotoks last month which is fewer than there have been in June in each of the last three years.
The real estate board said that sales activity has been somewhat restricted due to limited supply options. Inventory was 56 per cent lower than levels typically seen in June, and detached supply was nearly 63 per cent lower.
The most active sector of the market last month was between $700,000 and $999,999, which saw 19 sales, followed by 18 sales between $600,000 and $699,999.
There were four sales over $1 million in June, up from two in the same month last year.
In High River, the benchmark price increased for the third straight month to $483,000.
There were 32 sales in High River last month, seven between $500,000 and $599,999 and six between $600,000 and $699,999.
A comparison of detached benchmark prices across the region shows Calgary at $767,600, Airdrie at $657,400, Cochrane at $673,200, High River at $563,100 and Chestermere at $795,300, which are up anywhere from 5.7 to 12 per cent year over year.
