Canmore May Home Sales
Canmore May home sales figures turned in yet another strong month of sales and bounced back after a relatively soft April. Year over Year Canmore May home sales were up 28% with a total of 54 properties in sold in Canmore.
Inventory remained tight throughout the month with plenty of buyers waiting patiently for the right properties to come on the market. Once those properties show up on the market we are see numerous multiple offers on properties and those homes selling extremely quickly. As we moved in to the last week of May and the first week of June we did start to see a more steady stream of properties hit the for sale market but even with these added properties inventory remains tight and buyer activity remains strong. The average days on market in May for a property in Canmore was 67 days.
Canmore May home sales for the month fell in to the following categories:
Apartments: 13 properties sold at an average square foot price of $458
Half Duplex: 3 properties sold at an average square foot price of $587
Hotel Condos: 10 properties sold at an average square foot price of $395
Single Family Homes: 11 properties sold at an average square foot price of $568
Town Homes: 15 properties sold at an average square foot price of $415
Active inventory remains at all time lows even with the influx of properties we’ve seen hit the market in the last two and half weeks and totals 147 properties for sale. As we move through June we are currently showing 21 properties that are conditionally sold with a further 17 fully sold units. As we reach the halfway point of June with 38 units under contract you can expect to see similar sales numbers to May as the month comes to a close.
Looking at what prices are doing in 2017 for Canmore property I can tell you that, when compared to Canmore home sale prices for the same period in 2016 (Jan 1st to May 31st) we have seen a 5% increase in sales prices year over year. In 2016 from January 1st to May 31st we had sold 206 properties, for the same period in 2017 we have sold 207 properties.
If you would like to know more about the Canmore real estate market or are interested in buying and selling real estate in Canmore I’d be happy to discuss all your questions in more details. I can be reached at email@example.com or at 403.688.7629.