2022 Residential real estate statistics

Lack of inventory was the main theme to start off 2022 which continued to push sale prices higher into the spring and early summer. Bank of Canada interest rate hikes, designed to cool off rising inflation would ultimately have a cooling effect on the overheated real estate market as well. Sale prices in Canmore had been testing the upper limits of what buyers were willing to pay for some time and by April/May we saw the peak of the market and then a bit of a pullback in prices as uncertainty crept in around the direction of interest rates. Stories from across the country began to emerge of big price declines but Canmore did not experience such a drastic shift and low inventory persisted for the remainder of the…

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2021 canmore real estate overview

A lot of properties changed hands in Canmore in 2021. In fact the average number of sales for the 3 years prior was 459 and 2021 saw a near 70% increase to 770 units sold. The pandemic changed the way we live, work, recreate and travel - to name a few - and as related restrictions were eased and the economy started to open again Canadians were left with limited options when it came to vacation and travel. Not surprisingly, recreational real estate markets across the country began to sizzle with the average sale price predicted to rise by as much as 30% in some markets. Many Canadian families were able to save more than usual in 2020 and a study conducted on behalf of Re/Max found that 59% of buyers who intended to…

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