June was another incredibly strong and active month for real estate sales in the Canmore market. The last four quarters, which include July 2020 to June 2021, are the strongest quarters on record for Canmore sales.
As expected, we have seen real estate sales slow in July as everyone enjoys the summer and reopening of the province after COVID restrictions. Active listings will rise during this time, however, overall inventory is still well below what is considered balanced.
The high demand for Canmore properties has resulted in price increases of varying degrees across all property types. Hotel condos, tourist zoned homes, and apartment/condos have experienced the largest price increases. However, prices are expected to remain stable through the summer.
With sales and prices expected to hold steady with only a modest gain of listings through summer, Canmore real estate will remain planted in a seller’s market.
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.