Real estate value increases for the Drumheller market appear to be cooling after significant increases from 2020 to 2022. The historical sale price trend for all types of property in Drumheller is shown below.
As can be seen in the graph, low interest rates drove values up by 15-30% from 2020 to 2022. However, in 2023 we have seen mortgage rates hovering around 5% or better. This has led to a decrease in the overall number of sales and values have more or less stabilized throughout the market.