September 2022 Real Estate Market Update


SEPTEMBER 2022
A CONSISTENT LOW LISTING INVENTORY HIGHLIGHTS AS WE MOVE
INTO FALL!

After a fantastic summer in the mountains, the kids are back in school, and fall activities including biking, hiking, and more are in full swing. While it is still a little while away, cooler temperatures in the air mean that the winter season is just around the corner. The Canmore Real Estate Market has remained quite stable as listing inventory has been incredibly consistent over the last 3 months albeit still very low. Now is still a very good time to get your property on the market if you are considering selling.

It continues to be challenging for some buyers as that consistent inventory is still quite low so not a lot
of choice in the market. The buyers are pushing back on properties that they deem to be overpriced but great properties that are priced right are still having a lot of interest. We are still seeing multiple offers on some properties but not to the extent we were over the past year. While the trends in all the market segments saw a decrease in the median and average sale prices much of that has to do with more sales in the lower price point of the market. (and less on the higher end) We are also seeing more price reductions but this is most often related to a property that was leading the market too much as we have not seen a decrease in the markets.

We will have a more in-depth review of the market next month as we will review the third quarter which is often better to really see the trends as the sample size makes those numbers much more relevant. Lastly, we are here to help you or anyone you know with all your real estate needs. We are never too busy for your referrals.



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