Posts Tagged ‘Banff homes’

Canmore real estate for August was yet another month of consistent sales throughout town with a total of 26 properties selling this month.  Read the rest of this entry »

Another month is in the books for Canmore real estate and again we had a consistent month of sales in town even with what I perceived to be a quieter month for showing activity. Read the rest of this entry »

Summertime in Canmore

The 2010 Canmore real estate market is officially six months old, or six months complete for the year, so I thought for my post this month I’ll outline the stats for the month of June and then tally up the results for the 6 months ending June 30th to show how our market has performed so far this year.

Canmore real estate sales in June started at a steady pace and seemed to dwindle as the month went on, the same can be said for real estate activity and showings.  At the end of the month we had 30 sales in total and the breakdown was as follows:

Apartments: 3

Half Duplexes: 2

Recreational: 4

Single family: 9

Town Homes: 11

Triplex: 1

The average square foot selling price for a property in Canmore in June was $376 a square foot and the average selling price in Canmore for property was $604,000.  The range of properties sold in Canmore this month was incredibly varied from $100,000 recreational property all the way to a $2,250,000 estate home and everything in-between.

As a reminder of previous months I’ve listed each month and the number of sales that were made for the month in the Canmore real estate market: (to see full reports on each month click on Canmore real estate and scroll through to find the month)

January: 26

February: 25

March: 37

April: 32

May: 27

June: 30

As you can see the numbers show a fair amount of consistency in the number of sales month over month and I think it’s fair to say that level in the Canmore real estate market is the new up when it comes to sales this year.  So the big questions everyone is asking still relates to sales prices.  How have prices changed when compared with 2009 and have we finished correcting as a market yet?  Below I’ve outlined the average selling price per housing category for 2009 and compared it with the average selling price for the first 6 months of 2010:

2009                          2010

Apartments:    $387,000                    $370,000

Fourplex:         $578,000                     $572,000

Half Duplex:   $744,000                      $783,000

Town Home:  $509,000                      $502,000

Single Family: $758,000                     $827,000

Land:               $699,000                       $419,000

Recreational:  $242,000                       $212,000

(All figures rounded to nearest ’000)

Canmore real estate in 2009 had an overall average selling price of $569,705 and we sold 314 properties for the year. In 2010 the overall average selling price of property in Canmore for the first 6 months is $586,251 and we’ve sold 173 properties year to date – almost one home a day.  If we compare the first 6 months of 2009 to the first 6 months of 2010 we see a very comparable picture.  The first quarter of 2009 was an incredibly tough few months for real estate in Canmore, nothing was moving, but in the second quarter we started to see the market slowly revive and by the end of June 2009 we had 117 sales on the books at an overall average selling price of $582,190.

So, apples to apples the first 6 months of 2010 were busier for sales and activity in Canmore but the average selling price of property remains consistent with that of the first 6 months of 2009.  Going forward I see July as being a quiet month for sales and activity, the number of Canmore home showings that are being booked by Realtors has fallen dramatically over the past couple of weeks – a sign that summer has arrived and people are turning their attention to family vacations rather than property purchases.

I believe we are still correcting as a market, the properties that are being priced aggressively are winning the battle to find Buyer’s willing to purchase them and price is the driving factor for a Buyer’s decision making process.  As long as our inventory continues to climb, as it has the past two months Buyer’s are subject to great choice and the Sellers that are showing value for money to the Buyer’s will continue to sell their homes.

Would love to hear your thoughts on the Canmore real estate market, as always you can leave your comments below.

The View from Silver Creek Lodge

Canmore real estate sales in April were slower than March and the real estate market in May continued the trend of slowing down.  In April we sold 33 properties in Canmore and in May we ended the month with 26 sales.  The first week of May was a strong week of activity, mostly carried over from April and as the month progressed activity in the Canmore real estate market slowed significantly.  The breakdown of property that sold in Canmore in May is as follows:

Apartments sold: 4 at an average square foot price of $350

Four Plex sold: 2 at an average square foot price of $343

Town Homes: 5 sold at an average square foot price of $370

Half Duplex: 1 sold at an average square foot price of $348

Single Family Homes: 11 sold at an average square foot price of $423

Recreational Condos: 3 sold at an average square foot price of $326

Our active listings on the Canmore real estate market increased significantly this past month too and we are now back up to 385 active listings as of June 1st.  Pricing is still the key strategy for Seller’s, if the property is perceived to be priced correctly in the market by Buyer’s the property receives attention, if the property is perceived by Buyer’s as too high showings are typically slower.

As we move into June in Canmore we are hoping for two scenario’s to change.  First we need the weather to improve so that more people want to spend time in the mountains and secondly, if the weather improves we are hoping it brings our Canmore real estate market activity back up to the levels we saw in March and April.  We currently have 12 conditional sales as we move into June which is another strong start to a month.

Canmore Real Estate

Canmore real estate sales in April dropped from that of March 2010 although we still had a very healthy month in town.  The first two weeks of April started off very well with properties that had gone conditional at the end of March turning to firm sales within the first couple of weeks.  Showing activity remained strong through most of the month although dropped off a little in the last two weeks of the month.

The total number of sales in the Canmore real estate market for the month of April was 33 homes sold.  The Canmore properties that were sold in April were in the following categories:

Apartments = 8 sold at an average square foot price of $355

Half Duplexes = 2 sold at an average square foot price of $528

Lots / land = 2 sold

Recreational Property = 2 sold at an average square foot price of $307

Singe Family Homes = 10 sold at an average square foot price of $461

Town Homes = 8 sold at an average square foot price of $364

The average selling price for Canmore real estate in the month of April was $566, 701 which equaled $400 a square foot.  The square foot price for a property in Canmore has held strong in the $400 a square foot range now for several months and although a crude measurement for the price of property gives an indication of what Buyer’s are willing to pay in the market at this time.

At the time of this post on May 2nd the Conditional listings in Canmore real estate market total 9 for the first 2 days of the month and it’s too early at this stage of the month to hazard a guess as to how our month may shape up, although given the activity of sales in the last two weeks of April it doesn’t seem to show that the new mortgage rules that came in to effect April 19th have had much of an impact on the current market.

If you have any questions of comments on the Canmore real estate market please leave them on this post below or contact me directly.