Summer is here and the market continues to be very strong
What a difference a year makes! Last year at this time we were all unsure how the summer of 2020, let alone beyond would look. Looking back now we have been amazed at how the market has reacted and continues to react. Starting at the end of June 2020 and continuing to the present time, we have seen an unprecedented level of activity and excitement of the real estate market in the Bow Valley.
To give some perspective, the lowest number of total monthly sales in the last year is over 17% higher than the highest total monthly sales in the year previous. Just looking at the highest sale volume month in the last year to the highest the year previous we see a 89% increase.
Now saying that, it is interesting to watch our total number of listings and see through the year that number decrease from a high of 299 in July 2020 to a low of 123 in April 2021. We have seen that increase up to 141 this month and we have seen a slight slowdown in the number of showings. We do attribute this to both the opening of Alberta along with the typical seasonal slowdown. We do expect to see the market stabilize and see the stings continue to increase as the number of sales slows down a little to a more manageable buyers’ market and a more normalized sales volume as we head into the summer months.