Spring Marches In!
As we embrace March under beautiful blue skies, the anticipation of Spring fills the air with excitement. The season brings a host of activities, from spring skiing to the reopening of valley floor trails for walking, hiking, and running.
As part of our update it’s hard to ignore the ongoing political turmoil. While there’s much to navigate, we’re committed to showing you how the market is responding and what the future might hold. Despite being a hot topic among buyers and sellers, the current political climate hasn’t significantly affected our market. With inventory remaining dramatically low and many buyers waiting for the perfect property, we don’t foresee a substantive shift. Recently, we’ve seen multiple offers on various properties, indicating strong buyer confidence. Many buyers see Canmore as a long-term investment and aren’t deterred by the political landscape. Additionally, some buyers are considering selling their U.S. properties to purchase recreational properties here in Canmore.
Our listing inventory has increased year over year, but even if it were to double, we’d likely remain in a seller’s market or at best, a balanced market. We do expect listing inventory to rise in the coming weeks and months, following the usual seasonal pattern. As listings increase, we’ll see more sales as additional options become available for waiting buyers.
An interesting note on the single-family home market: February saw only three sales and an inventory increase from 28 to 36 homes. Compared to last year (2024), the market had just two sales and an inventory increase from 16 to 21 homes. Last March saw 13 single-family home sales, and with seven firm or conditional single-family home sales already in March, it looks like this trend will continue.
If you have any questions about the market or are considering buying or selling (or know someone who is), we’d love to connect. Please give us a call, text, or email.
Happy Spring!
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