Low inventory, high demand, record sales and sales volume, as well as price increases, ruled 2021. This year has started in a similar manner. To learn how the market has arrived at this point, check out my article, 2021 Canmore Real Estate Market Year in Review.
Inventory levels are at a record low thanks to the strong and consistent demand for mountain living and investment. Expected gains in lending rates are also encouraging purchasers to get ahead of any increases. There is little doubt that Canmore would be breaking sales volume records if not for the scarcity of inventory.
Good properties are selling in multiple offers, at or above list price, and at times before the listing reaches the open market. The tight market conditions have placed further upward pressure on prices. Record sale prices are being set every other week for neighbourhoods and types of properties.
If you are considering selling your mountain home or property or would like to enter the Canmore market, please reach out to our team. Barry and Jack have a wealth of knowledge and experience and will assist you in formulating a smart plan to make your maneuver in this challenging market.