Happy New Year! Let’s take a look at what the Canmore market did last year and what that means for 2022.
The Canmore market has seen some dramatic shifts in 2020.
The first Covid lockdown in February 2020 resulted in a sharp decline in sales and a 5% correct in prices. However, instead of a continued slowdown when things opened up again, we experienced the opposite, with greatly increased buyers demand and inventory to match.
Now in December 2020, in the midst of a 2nd Covid lockdown, we are looking toward 2021 to anticipate the likely market factors that will affect real estate in the new year.
2021 Outlook
It is expected that we will see a sharp rise in prices in 2021 and 2022 in Canmore. We are unlikely to see a major correction for many years to come.
This is due to several factors.
Overall, almost all factors lead us to believe that the Canmore real estate market will continue to increase in buyers demand and appreciating price point.
REGISTER
We are hosting another online Zoom Q & A session regarding the Canmore real estate market this Saturday April 11, 10:00 am (MST). You are welcome to ask any questions that will help you better make your real estate decisions.
I’m Jessica Stoner with the Jessica Stoner Real Estate Team in Canmore, Alberta. I’ve been a Realtor in Canmore for 22 years and have been through both up and down markets.
On Saturday, will cover how the Canmore market has behaved over the past couple of weeks and months compared to the same time last year, as well as revisit historical market activity from similar economic interruptions in the past.
Our Mortgage Specialist Greg Foss, with Mortgage Connections will be here again to answer current lending questions.
The market is a moving entity and we want to ensure you have the most up-to-date information at this time.
Feel free to join us this Saturday April 11th, at 10:00am (MST)