As we journey through summer, our hearts go out to the

residents of Jasper, our fellow mountain town. From my

youth camping trips to biking adventures as a teen, and

now hiking and biking as an adult, Jasper holds a special

place in my heart. We are all hoping that the residents

can soon return to their beloved town.

For our summer newsletter we always take a look at

some of the quarterly statistics, please see some insights

below.

Real Estate Insights: Q2 2024

Market Activity Surge: The second quarter of 2024

witnessed a remarkable 43% increase in activity

compared to the same period in 2023. Prices also rose

across various segments.

Townhomes and Condos: Townhomes and apartment

condos saw substantial year-over-year growth, with

increases of 23% and 20%, respectively.

Hotel Condos and Single Family Homes: Hotel

condos experienced more modest gains, with

average sale prices up by 6%. Single-family homes

followed closely with a 5% increase.

Inventory and Market Balance: While listing inventory

slightly rose, it remains far below a balanced market.

With a Months of Inventory (MOI) at 3.55, we’re firmly

in a seller’s market. Even a 50% inventory increase

wouldn’t tip the scales toward a buyer’s market.

Days on Market: Properties continue to sell swiftly,

with single-family homes and lots being the only

exceptions, hovering above 2 months. Historically,

our averages fall between 2 and 3 months for all

segments.

Looking Ahead: Anticipate more listings in August,

September, and October. We hope this influx will

help restore market balance, as eager buyers await

the right properties.

Here in Canmore, excitement is building for the upcoming

Canmore Folk Music Festival. This iconic event, which

began in 1978, continues to thrive, with Blue Rodeo

headlining this year. The trails around town are bustling,

and last weekend’s Rockies 24 - a 24-hour mountain bike

race at the Canmore Nordic Centre was a resounding

success. Our doorstep boasts incredible facilities and trails,

a true blessing for all of us outdoor enthusiasts.

Enjoy the remainder of summer and remember that we’re

here to assist with all your real estate needs. Referrals are

always welcome!