The real estate market in Okotoks remained tight in June, with demand continuing to outpace supply.
According to the Calgary Real Estate Board's (CREB) June regional market report, both sales and new listings were down compared to May.
Despite that dip, the sales-to-new listings ratio climbed to 87 per cent, indicating that most newly listed homes are selling quickly.
This high ratio kept inventory levels from growing, leaving the market with less than two months of supply.
As of June, the unadjusted benchmark price in the town sat at $632,800, a decrease of $900 compared to May.
"While conditions remain tight in Okotoks, more supply in the broader region has likely prevented stronger price growth in the Town of Okotoks," reads the CREB report.
Okotoks' detached benchmark price was $716,500, down $2,000 from May.
Meanwhile, High River's detached benchmark price continued to climb, rising by $5,500 from May to reach $591,200.