February 2019 Bow Valley Market Update



    It is hard to believe that we are already a month through 2019! We are experiencing our first real blast of winter today and it is a bit of a shock to the system. Last week, Christopher attended the Banff Western Connection real estate conference which brings agents from throughout Canada and the US to our mountain town. It is always great to share what our communities have to offer with other real estate professionals.

    January has started 2019 off well with sales increasing month over month; typically, we see a dip from December sales as we enter the new year. Year over year, sales are steady with 26 transactions this past month. Of note, 127 Cairns Landing, an 8,000+ square foot luxury home along the Bow River sold for $3,900,000. This is a great way to start of the new year after a soft year for the luxury market in 2018. The number of active properties on the market remains steady month over month with 189 active listings; this is an increase this time last year when there were 154.

    As we move through the winter market, we don’t foresee inventory levels start to rise for another six weeks. The market overall is currently hovering in buyer’s market territory; this can be attributed to higher inventory levels and typical slower sales in the winter months. Within certain segments of the real estate market, there remain very few quality properties and we are in a seller’s market still.

    There are some great winter events in the Bow Valley this month and we hope you get to get outside and enjoy this amazing place.

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