Navigating the 'Bermuda Triangle' of Real Estate
A three-bedroom house located at 26 Mount Rae Ridge in Okotoks, Alberta, has concluded a challenging sales journey, finally selling after a series of strategic price adjustments. The property, which initially struggled to attract buyers, was at the center of what local agents humorously referred to as the area's 'Bermuda Triangle of real estate.'
The Pricing Strategy That Secured the Deal
The action began in early June 2025, when the home was first listed with an asking price of $850,000. Despite its desirable location, buyer interest was minimal. In mid-June, the price was reduced to $799,900, but the market response remained tepid. Listing agents Bryon Howard and Benjamin Archibald of eXp Realty decided on a proactive approach.
In July 2025, they adjusted the price once more, setting it at $774,990. This move proved to be the turning point. About a month later, the first and only offer materialized, resulting in a final selling price of $765,000 in August 2025. The property had spent a total of 75 days on the market.
Agent Benjamin Archibald reflected on the unpredictable nature of sales in the community, noting, "Very little would happen for a long time across a lot of the properties, then all of a sudden it would be sale, sale, sale, sale. Then nothing would happen." He confirmed that persistence paid off: "We kept at it and reduced the price a few times until we had an offer come through."
Inside the Okotoks Property
So, what did the buyer get for their investment? This nine-year-old home boasts 2,126 square feet of living space and is situated directly across from Laudan Park. Key features include:
- Three bedrooms and four bathrooms
- An attached double garage
- A recreation area and a living room with a fireplace
- A kitchen equipped with an island, a pantry, and stainless-steel appliances
- A dining area with a back door leading to a deck and a yard on a 38 by 115-foot lot
- An upstairs lounge area near the laundry room and primary bedroom
- 2024 property taxes of $4,792
According to Mr. Archibald, the home's most significant advantage was its positioning. "The super unique thing about this house was it faced the green space," he said. "You were steps to walking paths along the ridge with beautiful views, and a number of amenities on the south side of the ridge." This proximity to nature and amenities provided a compelling value proposition that ultimately resonated with the right buyer.
