May 2022 Real Estate Market Update

As we move through May we all starting to get excited to say goodbye to another great ski season but look forward to the plethora of spring and summer activities that start to open, from hiking, biking, and running trails opening up to the local golf courses opening for the season! A sure sign of spring was spotted as I saw my first bear wander through my backyard the other morning. 

In May we saw a seasonal increase in inventory in all segments except single-family homes which saw a 35% rise in inventory compared with April but 10% lower than May 2021 and 40% lower than May of 2020.

In April 2022 the market started the month with 88 active listings and saw 61 listings sell whereas a year ago the market had 123 listings at the beginning of the month with 103 sales, April 2022 is still about 10% higher than a typical April sales volume. Although a smaller number of sales, year over year the inventory of homes was significantly less for buyers which continues to be the most substantial challenge of our market.

Our Months of inventory calculation in all market segments is less than 2 months of inventory with the exception of the single-family home segment (with the slight increase in listings) being the highest but still under 3 at 2.88 months of inventory, still in sellers’ market territory

As always thank you for choosing us in your buying and selling and should you know of anyone else who may be interested in buying or selling please let us know we are never too busy for your referrals and now more than ever have an experienced successful team working for you is critical to bringing you Canmore dream a reality and/or making your sale a seamless and prosperous one.

Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.