We are almost half a year into 2025. In the US, President Trump moved into office in Jan. 2025 again and in Canada Prime Minister Carney was sworn in in March 2025. In June 2024 the Bank of Canada started to drop its key interest rate in small steps from then 5% to 2.75% in March 2025 where it has been sitting since. What effects did this have on the Canmore Real Estate market – what happened so far this year and what’s coming….
In short:
Sales Numbers are down
Numbers of Listings are up
Prices are up
We are looking at a more balanced market with more inventory and less demand….buyers are cautious….and yet: Prices are up compared to last year.
Sales numbers for the first five months of this year decreased by approximately 8% compared to last year. The average number of listings increased by roughly 30%. Average days on market rose from 50 to 55 days this year.
Looking at the long-term trend since 2022, sales figures show a decline: 556 sales in 2022, 515 in 2023, 504 in 2024,...