The spring real estate market in Canmore continues to be incredibly hot. April sales were three times the amount of previous years with over 100 closings. Active listings have been declining since September of last year with inventory now at a record low. There has been consistently less than 100 active residential listings, between Canmore and the surrounding communities, each month this year. This is about 40% of what normal inventory is in the Bow Valley. Multiple offers, quick sales, or sales complete before a property reached the market, started to occur in February. April and May are seeing this trend in full force. Most listings currently appearing on the market are selling quickly in multiple offers. Some sales are also complete before the property reaches the open market. The high demand for Canmore properties is resulting in price increases of varying degrees across all property types.
Check out my article on How to Buy a Home in a Seller’s Market for tips and resources on navigating the current market. If you are at all considering buying or selling in the Bow Valley, contact Barry and Jack. Our team has a wealth of knowledge and experience and are on the front lines of real estate and development.