It is that time of year when we get ready for the holiday season. For some families, it brings the feelings of stress and helplessness. We at Royal LePage have had an annual event to try and relieve some of that stress by hosting a Food Drive along with the Christmas Spirit Committee.
Without countless volunteers this event would not be as successful as it has been in the past years. We would like to invite you and your friends and family to join our Royal LePage family on November 25th 2010 for our 19th annual Food Drive. Come help spread the good cheer for some very deserving families this holiday season.
If you would like to join us for the evening please contact Debbie Algeo at 403-678-5113 or debbiealgeo@royallepage.ca
Welcome to the beginning of the 2010 – 2011 winter! Lake Louise ski resort is now open for the season, or at least Wiwaxy, which is enough to get some turns in. We are coming off one of the most beautiful falls in memory with temperatures pushing records and long warm days. The Canmore Nordic Centre was open for skiing while the mountain bike trails were still in excellent condition.
We continue to build our online presence as we strive to provide you with the most up to date and relevant web material. We have recently created a new team Facebook Fan Page where you can access our latest listings, real estate news, market tidbits, and other local information. We look forward to seeing you on Facebook soon. We strongly believe in our use of social media and feel it gives our clients and listings an unparalleled level of exposure in Canmore.
October 2010 was a slower month than anticipated for residential real estate sales in Canmore. September saw our usual seasonal uptick in real estate activity; however, it did not carry through to October. November seems to be on track to have reasonable numbers with 11 conditional sales reported and 4 firm sales this month. Single-family homes again outsold condominium units last month with both average and median sale price dropping. Overall, it appears that prices have stabilized as we slowly move towards a balanced market. Total active listings have dropped below 400 units on market and once we remove hotel condominium units, we are sitting at just over 300 active listings.
The drop in both average and median sale prices does not necessarily reflect a continuing drop in prices. It is more that the majority of sales are in the entry level to mid level home. Each month, a few luxury $1,000,000 plus homes are selling which will temporarily bump average sale price. Hotel condominium units continue to struggle making up 16% of listings while only accounting for 5% of sales over the past year. This is one segment of the market, where we can expect the prices to continue to drop. Developers are offering a couple of hundred new units with some very attractive pricing.
We are expecting the winter to take its usual seasonal slowdown with both sales and listings to decline. The Christmas week can be a busy time for showings, as people are visiting over the holidays become interested in what Canmore has to offer. With the fantastic selection that we boast, this winter could be a great opportunity for one to enter the Canmore market.
Banff has had a busy fall after a slow summer. Again, the majority of the market is first time homebuyers and families upgrading from their first home. Listings have decreased with sales increasing which bodes well for the Banff market.
