February 2025 Newsletter

February Market Update: Will warming temperatures heat up the market?

As we enter into February, the market is continuing down a similar path of lacking inventory and needed patience for buyers as they search for their ideal mountain home. We do expect to see more listing coming to market as we move from winter to spring in the coming months, the market is so deficient in active listings buyers need to be ready to buy and sellers the time is now if you are thinking about selling.

Last month we gave a break down of the yearly numbers which are a much better gauge and as we move through 2025 we expect to see more of the same with gradual price increases while buyers hesitate when pricing pushes too high. 

Our monthly median pricing tracking has shown stability with Apartments, townhomes and hotel condos however you will see the larger swings in the single family homes. Those swings happen as we see large divergences in both number of sales along with prices.  In 2024 we saw sales of single family homes from sub $900,000 to $7,500,000. This is just another example to now read too much into the monthly numbers and quarterly or ideally yearly is a much better sample size.

Lastly, a quick narrative from us on the political climate we are experiencing right now. While we all are feeling the unknowns in the market we are staying confident in our market. With almost all buyers being from Canada (current foreign ownership ban) along with a desire for many Canadians to keep travel plans within Canada while no current signs of lack of international travelers, the Bow Valley hopes to be very busy in 2025 and beyond. Saying all of that, should the Canadian economy turn, we will be affected however historically any downturn in the market (with only the 2008 financial crisis making significant price reductions – which recovered quickly in the years following) caused listing increases as opposed to price reductions that are often found in larger non recreational markets.

As always please reach out for further details and as mentioned above, if you are thinking about selling or buying the time might just be now or in the next 4-6 weeks. 

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