REAL ESTATE MARKET UPDATE
Active listings and sales in the Bow Valley have been on the rise since July and that trend will continue through August. Although inventory has slowly increased since January, Canmore is still below average of the number of listings normally on the market. The increase in active listings has provided more selection for buyers in some markets while other markets, such as townhomes under $700,000, remain very limited. Sub-markets have begun to appear in various property types and in one neighbourhood; hotel condos and entry level townhomes are very much in a seller’s market while condos in Three Sisters Mountain Village need to be strategically priced in order to compete with the volume of inventory in that neighbourhood. As we head into autumn, we expect inventory to rise slightly and sales to remain strong as buyers return from summer vacation and become active in the fall market.