September 2023 Newsletter

As We Enter Fall Lack of Inventory Continues To Affect The Market

The fall is an exciting time to be in the mountains.  After a summer full of hiking, biking, running along with the many successful local events like Canada Day, the Folk Festival and most recently the Canmore Highland Games we are excited for the upcoming fall season. The kids are back in school, and the days are still longer to enjoy active outdoor evenings.

We do typically start to see a pickup in buyers as the cooler temperatures in the air bring thoughts of ski season and what that might mean in terms of purchasing a property here or getting something larger (or smaller) depending on each families needs.
Sales in August show a higher number however quite a few of the hotel condos were a new project so once you remove those from the total the sales in August 2023 match that of August 2022.  While sales matched year over year the listing inventory is down 25% year over year which makes the matching sales numbers show much stronger.  We have seen a decrease in sales in 2023 which we feel corresponds to that lack of inventory and choice for buyers. Our market continues to have buyers waiting for that right property to come to market.

Sales in August show a higher number however quite a few of the hotel condos were a new project so once you remove those from the total the sales in August 2023 match that of August 2022.  While sales matched year over year the listing inventory is down 25% year over year which makes the matching sales numbers show much stronger.  We have seen a decrease in sales in 2023 which we feel corresponds to that lack of inventory and choice for buyers. Our market continues to have buyers waiting for that right property to come to market.