December is an exciting time in the Bow Valley as the Christmas festivities get going, the lights are lit and people are out enjoying winter. There has been some fantastic skating this winter as we wait for the snow to come back (hopefully before Christmas).
This year, the Canmore real estate community is taking a different approach to their annual industry party. We will be coming together to help raise funds for the Bow Valley Christmas Spirit Campaign. This is an amazing organization helping throughout our communities.
Winter is here in the Bow Valley and we are just weeks away from the Holidays. This month, Canmore and the Bow Valley surpassed 500 MLS transactions for the year. Year over year sales are down year to date by 5% with 504 MLS sales so far. Sales were up slightly from November 2017 rising to 43 sales from 39. Active listings have remained very steady for the past few months with no change; however the 204 active listings we currently have is a 14% increase over this time last year.
We have experienced some significant price growth in many segments of the market over the past year. With the higher levels of inventory and lower overall sales, we do expect to see the level of price growth shift to a slower pace. The luxury segment of the market remains in buyer’s market territory while other segments are still very much in a sellers market. Overall as we finish off the year, the market is balanced.
The week between Christmas and New Year’s do have potential to be a busy time for sellers on the market. The Valley will be busy with visitors both locally, nationally and internationally.