Covid-19 has had an expected impact on the local real estate market. Okotoks sales volumes for the month of May were down 37% over last year, but this is better than Calgary which saw a 44% decline in sales volumes. (Detached, Attached and Apartments) The bright spot was acreages in the MD of Foothills - Sales volumes were only 3 units less than 2019 which equates to a drop in sales volumes of 12.5%. Across the board, prices have dropped by an estimated 5-15% year over year depending on the price point, and type of property. The market has definitely favoured buyers. The $ Million properties sales volume in Calgary was down a whooping 63%.
On a positive note, my sales volumes exceeded my expectations considering we are in the middle of a pandemic. A huge thanks to all my clients and those that support me during these difficult times. Technology has made a big difference allowing me to be able to navigate the challenges of covid-19 and keep my clients and my family safe.