REAL ESTATE MARKET UPDATE

Canmore real estate market activity and sales were on par with what we normally see with the autumn market.

With now under 100 active listings, inventory is still well below what is considered a balanced market. As we wind down the year, it is customary for the market to remain quiet December through February. We will not see an increase of new listings until early spring. In the meantime, with the market experiencing a more balanced pace of sales, skillful pricing of a listing and negotiating of a purchase will be paramount.

Prices have softened in the odd area of the market since the frenzy earlier this year but overall are well above Canmore real estate prices prior to Covid. Short term rental market prices have softened to a degree due to buyer fatigue and rising interest rates. In contrast, luxury property sales have not only risen but are also setting record sale prices.

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 the Canmore market.