June 2023 Real Estate Market Update

June 2023 Real Estate Market Update

Summer starts with a continuation of low inventory
and high demand!

As we enter the month of June, we are all just wowed by the spectacular weather which has allowed all of us such a great opportunity to jump right into all the outdoor fun that our Bow Valley affords. I was out for a run the other day and ran past happy hikers, excited mountain bikers and wrapped up with the quiet paddle strokes of paddleboarders and a couple in a canoe. Are we ever lucky to call this home.
April and May sales volume was comparable to the sales volumes we saw before 2016.
We do attribute this to the incredibly low inventory. Since we have been keeping local statistics in the early 2000’s, the average listing inventory is more than double that of our current 106 listings on the market. When we note that almost 20% of these present listings are Hotel Condos (that did not exist back when we started) it does explain why many buyers are in a holding pattern waiting for the right home to become available. Sales volume is still down from the last few years and is more in line with 2015.
With this in mind we are expecting to see steady sales volume but could increase when our inventory grows.
Now is still a great time to get your property on the market if that is something you are considering. As always, we are happy to update you on where your property may sit in this new market to see if the time is right.

Lastly, we are never too busy for your referrals, we absolutely love helping friends and family of our past and current clients.


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