Spring is in the Air!
The signs of spring are all around us. While March concluded with abundant snowfall, delighting skiers during this Spring Skiing season, the warmer weather is beginning to reveal dry walking paths and trails. This weekend on the river trails, there was a noticeable increase in people walking, biking, and embracing the natural beauty of our mountain communities.
Politics on the Horizon: Implications for the Market
Political developments, both within Canada and globally, continue to influence discussions with buyers and sellers. Many are understandably curious about how ongoing news regarding tariffs and political decisions might impact market activity. Despite these uncertainties, we’ve observed a steady influx of new buyers entering the market, showing no hesitation in acting decisively when the right property becomes available—particularly given the persistent inventory constraints. Furthermore, the foreign ownership ban, in effect since January 2023 and extended through 2027, has significantly reduced the impact of international buyers on our local market.
Statistical Analysis
As the first quarter comes to a close, it’s an opportune time to assess the broader trends in our real estate market. Similar to last year, we continue to navigate a landscape of constrained inventory. Historical patterns suggest a rise in listings as the year progresses. This March, active listings increased by 15.3% month-over-month. However, a closer examination reveals that this growth stems from new lots and hotel condos entering the market, while inventories of single-family homes, duplexes, townhomes, and apartment condos remain consistent with February’s numbers.
We also focus on the Months of Inventory as a key indicator of market health. A balanced market in Canmore typically ranges from 4 to 6 months of inventory, providing equilibrium between supply and demand.
Here’s a snapshot of the average inventory duration for the past years:
Year: Months of Inventory
2019: 4.21
2020: 9.14 (Pandemic)
2021: 1.06
2022: 1.19
2023: 4.29
2024: 2.36
2025: 3.29
Currently, it would take approximately 3.29 months to sell all listed properties, affirming that we are in a market favorable to sellers.
Pricing Trends
Quarterly sales data indicates a notable rise in property prices compared to Q4 2024. Townhome prices have increased by 7.6%, while apartment condos have risen by 1.9%. Meanwhile, half duplexes, hotel condos, and single-family homes have experienced price increases exceeding 20%. However, given Canmore’s market size, even quarterly data can be influenced by a few high-value transactions.
For a personalized analysis of how these trends may impact your property goals, We are here to provide tailored advice and expert guidance.
If you or anyone you know is considering buying or selling property, we would be delighted to assist. Your referrals remain the highest compliment to our commitment and dedication.
Looking for something to fill your down time? Check out our Blog on April events in Canmore!
