January 15, 2022
January 2022 Newsletter: Canmore Real Estate Market – 2021, Lack of Inventory is the Story!
Our January newsletter is out! This month we review the market in 2021 and discuss what it might look like in 2022.
Canmore Real Estate Market - 2021, Lack of Inventory is the Story!
As we both look back on 2021 and forward to 2022 the pandemic continues to be a continual point of discussion. At the beginning of 2021 we were all hopeful to be putting the pandemic behind us. As we enter 2022, we are thinking the same thing. The market in 2020 was the busiest on record by over 27% and in 2021 we surpassed 2020 by almost 35%. I always like to compare this market to our previous most active time in the early 2000’s and to do a true comparison we need to remove the hotel condo sales as those types of properties did not exist 15 years ago. Even removing those from our numbers this year our total properties sold was over 18% higher than the second highest year. Another item to note is this is the first time we have ever seen an increase in sales 3 years in a row.
In January 2021 we were concerned about listing inventory and what affect it would have on sales this past year and that concern is even more exaggerated this year as we are down to 56 listings at the beginning of the year from 154 just one year ago today. With this in mind we are expecting to see strong interest and activity in 2022 with many buyers waiting for the right homes to come to market while also seeing pricing pushing up with the dramatic lack of supply.
