Canmore Second Quarter Market Update

Sales for this past Quarter have doubled over the first Quarter of 2009. Regional statistics see a strong recovery in the larger centres. However, as strong portions of the Canmore market are second homeowners, we are taking longer to recover than some of the larger markets. The recreational property buyers are looking for a ‘deal’ or reducing their budgets compared to 2007 & early 2008. Those whom are choosing to sell, and who may have purchased at the height of the market are slowly coming to terms that their property will not fetch the premium that it would have in the past. Sellers who are determined to sell have been pricing aggressively and are reaping the reward with sales coming in a matter of days as opposed to months. There have been strong sales in the first time homebuyer market with list prices and interest rates being very attractive to those wishing to enter the market. As there continues to be over 400 listings in the Bow Valley, buyers have the opportunity to shop and compare. Although, those listings that are priced to sell are selling and the buyers who are waiting to get the ‘deal’ are missing out. The market continues to stabilize, and it will most likely continue to be a buyer’s market until regional and world markets stabilize and people feel comfortable in the recreational market again.

*See Below for the July Newsletter and Statistics