From a strong start, to a stalled market due to COVID, to record-smashing months through summer, fall, and winter, Canmore real estate experienced a wild ride through 2020. Read my 2020 Canmore Real Estate Market Year in Review for details on the best year for sales in the Canmore real estate market in the last twenty years.
While January is normally a quiet month for sales, the Canmore real estate market has bucked that trend this year. The market powered through the holiday season and sales and activity are strong as we dive into the new year.
Active listings have been declining since September of last year and inventory is now hovering near a record low. Approximately two months of inventory is currently on the market as compared to four to six months which is considered a balanced inventory.
Pent up demand, low inventory and interest rates, continued demand for recreational properties, and the effects of COVID-19, are fuelling the market. These factors, along with the expectation that there will be high visitation this year, will continue to drive the market. Multiple offers, quick sales, or sales complete before a home reaches the market are becoming more common.
Contact Barry and Jack to ensure you are in the know and receiving the latest opportunities and developments in the market.