July 15, 2021
The Canmore Market Has Seen the Strongest 4 Quarters Ever!
Previous to July 2020 the highest volume in a quarter was 190 total sales in the market.
This past year we saw numbers that were 28.4%, 51.6%, 50.5% and 36.8% higher than the previous record high. These numbers are staggering and while we have been speaking of this market for the past year, this just emphasizes where the market is sitting.
Our listing inventory continues to be low however we are starting to see the signs of it increasing. That said, it does have a long way to go to get to a balanced market. Our month of supply range from 1.1 to 3.2 months depending on the property type. The general rule of thumb was that a balanced market sits around 6 months of supply but with the Single Family Homes we are moving closer to that point and on the borderline of balanced. A typical market that has experienced a very strong cycle with price increases will typically see new listings coming on the market that are really pushing price points beyond what buyers are willing to pay so they sit on the market for a longer period of time and while they may sell they often need to have price adjustments to do so…
