Well, the statistics are starting to look VERY dramatic.
March 2020 is burned into our collective consciousness as a month of instability and fear. It felt to me like we were all stepping into the great unknown. It’s the month the world’s economy basically fell off a cliff.
And, I assure you almost no-one saw the big real estate boom ? of 2021 on the horizon. But that’s what it has been. And comparing March 2020 to 2021 shows the dramatic shift we have all been seeing and feeling.
– The number of active listings is down 50% from March 2020, to 135 listings.
– The volume of sales is up 383%. Last March 23 homes sold and this March 110 homes sold.
– The median sale price is up 18%. Last March the median price was $560,000 and this past month it was $662,000.
It’s hard to tell what is ahead, but I know for sure the next few months of stats are going to look quite remarkable.
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If you are buying, you need an experienced agent on your side to help secure a property in this competitive environment. If you are a seller, you want to think strategically about your strategy because you are in the driver’s seat in the current market!!
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* These stats are for Canmore, Banff, Lac Des Arc, Dead Man’s Flats, and Harvie Heights. I have included only properties $250,000 + to only show ‘full ownership’ statistics. All statistics provided by Pillar 9.*