The price of a detached home in the Foothills is way up compared to last October.
Sales numbers for detached homes in October were released by the Calgary Real Estate Board.
CREB singled out Okotoks and broke down the numbers from last October to this October including semi-detached housing, row housing and apartments.
"Sales in October improved over last year's levels as recent gains in new listings provided choices for many buyers struggling with supply options. While the sales gain relative to new listings prevented further monthly gains in inventory levels, the 103 units available in October significantly improved over the near-record low of 66 units reported last October. With less than two months of supply, conditions continue to favour the seller. The persistent seller market conditions have driven price growth in this market throughout most of the year. While unadjusted prices did ease slightly over last month in October, levels are still over six per cent higher than last October and over eight per cent higher on a year-to-date basis."
Prices are the highest in Okotoks with an average detached home costing $698,500, which is up by 7.3 per cent.
High River's average price was up even higher at 9.4 per cent which is the highest increase compared to Okotoks, Strathmore, Airdrie, Cochrane, Chestermere, Canmore and Calgary.
The average price in High River now sits at $565,400.
