Showing posts with label Statistics. Show all posts
Showing posts with label Statistics. Show all posts

Saturday, September 11, 2010

September Real Estate Market News - Banff & Canmore



Summer has come and gone in the Bow Valley. The mountain tops are white, the toques are starting to appear, and talk of ski season is starting. Not so quick though, we still have two months of warmer weather and some fantastic biking, hiking, fishing and climbing to do. With the kids back in school, we are starting to see our fall adult tourist season start to pick up. This is the time of year where we traditionally see the Real Estate Market pick up after the summer lull, as people get back into their regular routines. People in the tourism industry have a chance to catch their breath and think about moving and the visitors this time of year have more time to think about buying and look at properties. Enjoy you fall and feel free to contact us if you have any question about the market in Canmore & Banff or would like to know what is going on in the Bow Valley.



September already has 26 firm or conditional sales for the Bow Valley; less than half way through the month we are about to surpass August sales number. We are seeing the traditional fall market pick up with a variety of properties selling. August of 2010 was a slow month for Real Estate sales in the Bow Valley. With 27 sales this past month, we are on average with the slower months of the year. Single family homes outsold condominiums this past month which is a rarity with 16 single family home / duplexes selling and only eight apartment / townhouse units selling. Normally, we see about 50% more condominiums than single family homes selling. The sales this past August were down 35% from 2009, however much of that is due to the strong sales in 2009 as pent-up demand started to flow. Active listings have dropped from July, with well over 400 active listings still on market; this corresponds to about 16 months of inventory available in Canmore and area. Average days on market statistically have dropped, however cumulative days on market still remain very high. Many of the properties that have sold, have been on market before and have been relisted, and as such are showing a much lower average DOM than actual time on market.




The recreational market has two projects recently out of receivership come to market; Solara Resort and Innoka (formerly Big Horn Resort) in the Kananaskis Way district are selling units again. This along with other developer’s units will significantly increase the amount of Recreational Properties on market. The statistics that we use are from our Canmore Brokers Group database and do not reflect the developer’s units that are for sale. We expect to see some aggressive pricing and incentives as the marketing and sales of new units come into full swing. This can be taken as a positive sign that there are lenders and investors who have faith in the Canmore Real Estate Market and are willing to invest in, finish, and sell these projects. With the huge amount of inventory that we have, competition remains very tight to the buyer’s dollar.

Friday, June 4, 2010

June Real Estate Market News - Banff & Canmore


We hope that you have been enjoying your spring and getting a chance to enjoy the various types of weather we have been experiencing. Who said skiing in late May couldn't be a powder day? The Bow Valley's Real Estate market continues to perform with consistent sales and a levelling of prices. Contrary to the National Media, Canmore & Banff's housing market is not super heated and we are not on the cusp of a bubble. We continue to be in a buyer's market with over 400 active listings in the Bow Valley.

Recently, we have begun using HomeZilla.ca, which maps schools, banks, restaurants, and parks in relation to a property. We feel that this is an excellent tool for both buyers and sellers trying to choose a community within Canmore or Banff.


Overall sales in Canmore slipped again this month as the market continues to recover. Sales in Banff have been steady with a number of properties changing hands. The positive side to this is that as of June 2nd, we were at 12 conditional sales as opposed to three at this time last month. The majority of the market remains smaller single-family homes and condominiums below $600,000. Buyers for the $1,000,000 and up market have an amazing selection of properties and continue to have some unprecedented buys. The luxury segment of the market continues to struggle to find buyers.


Active listings have again reached over 400 as sellers see the market picking up and are trying to take advantage of this traditionally busy time of year. The biggest rise in listings was condominiums, with over 200 actively listed. Vacation Home - Condo Hotel listings have remained stable with three units selling in the past month. This is great news, as this is more than the total units sold since last summer; a sign that this segment of the market still has some potential buyers.

Canmore is continuing to see some foreclosures in the market. The majority of these properties are high-end homes and condominiums; either bought as speculative investments or rarely used second homes. Unlike America, Canadian Banks still expect to receive fair market value for their foreclosures. However, the majority are taking far less than what the home was originally listed for and trying to simply recoup any mortgage monies.

The positive growth forecasts for both Alberta and Canada will see the Bow Valley's market remain steady. As people begin to feel, more comfortable with their financial situation we expect to see more second homebuyers taking advantage of these prices.

Friday, May 1, 2009

April Sales - Canmore Banff Real Estate

April saw the market pick up significantly over the previous few months. Buyers and sellers are finding a common ground and we are seeing homes selling. Inventory is down slightly and it is feeling like a marketplace here in the Bow Valley again.

During the Month of April, there were 40 conditional, unconditional and final sales in the Bow Valley.

Average Original List Price: $694 282.00
Average List Price: $658 115.00
Average Sale Price: $597 898.00
Average Days on Market: 113
Town House: 9 Recreational Property: 3 Single Family: 15 Apartment: 8 Half Duplex: 4 Four Plex: 1

Sunday, April 12, 2009

Canmore Statistics - Q1 & March 2009


The real estate market in Canmore has been picking up over the past few weeks with a number of sales. There continues to be a great selection of propeties for all types of buyers in town. These are the statistics for the first quarter and March of 2009, courtesy of the Calgary Real Estate Board.



Q1 2009 -Canmore

Inventory :346

Number of Sales: 28

New: 236

Average List: $746,865

Average Sale: $678,579

Median: $ 525,000

Average Days on Market: 106

Sale$ / List$: 90.86%


March 2009 - Canmore

Inventory: 346

Number of Sales: 9

New: 95

Average List: $646,755

Average Sale: $591,222

Median: $ 525,000

Average Days on Market: 109

Sale$ / List$: 91.41%