Have you been thinking about listing your home in Canmore or the Bow Valley? It’s officially a seller’s market and that means now is the perfect time to list. Due to the pandemic, many people either stepped up their retirement plans or transitioned to working from home. Without the need to remain in a city centre for work, desirable locations like Canmore were suddenly in hot demand. Living in Canmore full time was no longer a dream – it quickly became reality! As a result, the market is moving fast.
The early signs of a seller’s market ramped up through 2020 and since the start of 2021, dramatic changes continue to occur. Listings are at record lows and demand is at record highs. Realtors are seeing homes sell for between $30K to $100K over asking price, and bidding wars are common.
RE/MAX® statistics based on April 30, 2021 data show that in Canmore:
- Sales are up a whopping 683% from April 2020 to April 2021.
- Across all dwelling types, the average time on the market is now just 32 days.
- 60 months ago, the average price in Canmore for a single family home was $1,071,000. As of April it is $1,716,500.
- Properties across the Bow Valley are seeing similar trends.
All properties are moving – fast
We’ve seen condos move quickly before for those looking to Canmore as a weekend or tourist destination. Now, tourist homes are hardly available as all types of dwellings are being quickly snapped up as permanent residences. Average rates for property types as of April were:
- $1,404,000 for a detached home
- $756,400 for a townhome
- $1,107,400 for a duplex
- $627,000 – $636,700 for an apartment/condo
Get the most from your listing and selling experience
Realtors guide you through the many moving parts, and legally binding contracts, when selling a home. From listings to showings, from document preparation to closing, a Realtor helps you get the best value for your property. Realtors know the market, work in your best interest, and want you to have a positive experience from start to finish.
If you were thinking about listing your home in Canmore or the Bow Valley, now is the time. The market is at record levels for sellers, and a Realtor can help you maximize your home – your asset – properly.
Lori Mitchell and her team have been selling real estate in Canmore for more than 20 years. Canmore is also where they call home, so they have an incredible knowledge about the area, the market, the town’s long-range planning, and everything you need to know before you list your home. Contact this Canmore agent today because there has never been a better time to list. Still on the fence about selling? Lori and her team are happy to discuss the pros and cons with you. Whatever your real estate needs, they are here to help.
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