It was a very robust second quarter for real estate sales in Canmore and the Bow Valley. Q2 2018, was the strongest quarter ever with 184 MLS transactions; a 13.5% increase year over year. This has made up for the slow start to 2018 with sales almost at par with 2017 levels. There were 67 sales in June an increase of 22% year over year. Year to date, sales transactions are down 4.5%. July continues to carry the June momentum and we expect sales to be on par with last years.
The quarterly median sales prices were:
- Detached and semi-detached $905,000
- Townhouse $637,500
- Apartment $446,000
- Hotel Condo $402,000
- Lots $785,000
Active properties for sale are down slightly to 215 from 223 last month. Typically, we would expect June to have higher inventory levels than May. Inventory year over year was up in June by 6.4%. The market overall has only three months of inventory, down from May’s four months of inventory. The market is back into seller’s market territory overall; while some segments will be very competitive others will have a higher selection for buyers.