June and July were strong and active months 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.
Although real estate sales slowed in July, as expected, transactions were still well above July sales from previous years. Active listings have risen through summer, 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 have remained stable through the summer as predicted.
With sales and prices holding steady with only a modest gain of listings through summer, Canmore real estate remains firmly 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.