Another sales record shattered in November, lead by the project launch of another Basecamp Resorts project on Bow Valley Trail. There were 131 MLS transactions in November; this is the sales volume we typically see in a good quarter. In addition to the 131 sales, Spring Creek Mountain Village launched their newest building Arnica Lodge and there were a least another dozen sales not registered on the MLS.
The past month, we may have also finally witnessed the bottom of the luxury market. There were three sales above $2,000,000 and active inventory of luxury homes is down to 12 homes above $2,000,000. The three properties that sold last month had all been on and off the market for years and they were finally adjusted to a level where a buyer felt they saw value. The luxury market moving into a more balanced market still requires sellers to price to the current market and not the market of the past.
Since September, active listing inventory has declined 37% and the market overall is very much in a seller’s market territory. If you had been considering selling your home, this is a great time to consider coming to market.
Wishing you and your family a safe and happy Holiday Season!