May 14, 2024

May 2024 Newsletter

Embrace the Spring in the Mountains: A Time of Renewal and Excitement

Spring has arrived in the mountains, bringing a mix of spring snowfall and stunning bluebird days. Fresh snow adorns the mountain peaks, signaling the end of the ski season and the beginning of a season filled with outdoor activities. The trails beckon for hiking, biking, and running, while the local mountain golf courses prepare for a vibrant summer. With the arrival of spring, wildlife becomes more active, offering opportunities to spot the natural inhabitants of our beautiful region.

Canmore Real Estate Market: A Glimpse into Inventory and Sales

Our real estate market, while still low on inventory, shows signs of growth with an approximate 20% increase in total listings in each of the past two years. This trend is encouraging, yet there’s a journey ahead towards a balanced market. When we compare the past five months to the same period in 2019, our listing inventory is down by 43%.

Sales Trends and Market Dynamics

In the first four months of 2024, the market experienced a 33% increase in sales compared to 2023, although it was 17% lower than the pre-pandemic levels of 2019. Various factors contribute to this with the most significant being a lower inventory in 2023 and 2024 compared to 2019 which offered buyers more options and required less patience from them.

New Listings: Tracking the Pulse of the Market

While we often discuss the number of listings, it’s worth noting the monthly influx of new listings. Excluding the pandemic years of 2020-2022, we typically see between 200 and 300 new listings each month. Last year marked a low at 175, but 2024 has returned to normalcy with 220 new listings in the first four months.

Months of Inventory: Understanding the Seller’s Market

Currently, we are operating under 3 months of inventory, indicative of a persistent seller’s market. This environment has led to increased competition, with multiple offers for well-priced, high-demand properties.

Gratitude and a Request for Assistance

We are grateful for your trust in us for your real estate needs. If you know someone interested in buying or selling, please consider referring them to our experienced team. Now, more than ever, having a skilled team is essential to making your Canmore dream come true or ensuring a smooth and profitable sale.

Silvertip Update

Golf Season: The 2024 Golf Season has begun. Ready to hit the greens? Secure your spot on the course by booking your tee times in advance. Get set to experience priority access to one of Canada's premier courses.

Silvertip Market: Offering Dine in and Take out options, you can now visit the Silvertip Market for a quick bite or shop for high-quality meats, farm-fresh eggs, quality produce, premium wines and specialty retail items all in one convenient location!

Mountain Tranquility: We are thrilled share the news that the road for Mountain Tranquility is aiming to be completed by mid June.

For a full update on Silvertip and Mountain Tranquility Place------> CLICK HERE

To learn more about the market and see historical graphs ------>CLICK HERE.

What's happening thing month in the Bow Valley? ------>CLICK HERE