The housing market in Calgary has seen some slight drops in price over the last few months which has helped some benefit selling and buying homes in Okotoks.

Prices and time spent on the market may vary from the type of home but as the old saying goes in the real estate world, 'It's always a good time to buy'.

Realtor at CIR Realty Brett Murrell says the detached home market has been prospering as of late.

"Single family homes are definitely moving faster than condos," he says. "Condos are sitting just over four months of inventories, attached homes are definitely taking a little longer to sell, they're sitting at about 130 days on the market and most of the sales are coming in at around 96 percent of full asking price. If they're priced right they go fast, if they try to get a little bit more money, it takes a little bit longer."

The current average price of a single family family home in Okotoks is just over $425,000 and Murrell says that's quite the drop from the past couple of years.

"They're down from what we were seeing in 2014 and 2015 definitely. But I think they were getting a little crazy in my understanding in the way I look at it 2014 they were definitely sky rocketing an we're trying to get back to those values we're definitely not there yet. We're down between four to six percent depending on the housing."

The current economic situation in Alberta doesn't make life easy for those on the market looking to buy and looking to sell and Murrell says home values may drop a bit more in the coming months.

"Hearing out the rumours that we haven't seen the bottom yet only due to severance packages and stuff like that from the Oil & Gas industries, we're starting to see possibly some foreclosures and obviously some more price correcting."

Questions, comments, or story ideas? Email us at news@okotoksonline.com