Posts Tagged ‘Bow Valley’

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 »

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.

I’ve never really attributed the March Madness sports frenzy to real estate, but it sure feels a little like a real estate frenzy this month in Canmore.

For some reason this month I’ve been asked far more consistently about the Canmore Real Estate market and what is happening in town for property sales this month.  I assume it’s because we are coming into the Spring and typically in Canmore our real estate market activity picks up.  With so many people asking me about the market on a daily basis I thought I’d check -in and see how our sales activity has officially held up for the first 12 days of the month.  My response to the question this month has been ‘it’s busy, there are more showings in the book and certainly feels like sales activity is strong’ and the sales numbers so far this month confirm my gut feel.

In Canmore this month so far we’ve had 15 sales, ranging all price ranges and types of homes.  Selling prices range from $295,000 to $1,100,000 with no one specific style of property selling more than another.

Sold homes in the month of March though are only half the Canmore real estate story so far.  We currently have another 16 properties that are Conditionally sold.  If all the conditional sales complete the sales process and nothing else sells this month in the Canmore real estate market we will have had one of our busiest months in the past 2 years.  Of course, we still have another 2 weeks of the month left and the real estate market shows no signs of slowing down.

Stay tuned at the end of the month to see how March plays out but it at this time it sure is looking to me like a slam dunk for being the busiest sales month of the past 2 years and that’s something we should all be cheering for.

Winter reared it’s ugly head again this week in Canmore, so as a reminder that Spring is still a few weeks away I thought I’d share this video and song from Stompin’ Tom in celebration of the Men’s Olympic Hockey team winning Gold.

Oh, and feel free to sing along as loud as you want!

I saw this video clip doing the rounds on twitter yesterday.  It’s a clip showing how the magazine WIRED is changing their business model to appeal to the new consumer and stay ahead of their competition in the publishing World.

The iPad from Apple is due to be released at the end of this month.  We as an industry need to start thinking like WIRED, embracing new technologies and changing our business models to stay competitive.The iPad can change the way we do business if we let it, and why wouldn’t we? If it can do this for a magazine just imagine how it can benefit you and what it can do to help push the boundaries of your business.  Most REALTORS® are still trying to come to terms with Social Media and understand how it can change their business, they are not ready to take on another potential game changing device.  I am and so are all the other tech savvy REALTORS® I know through twitter and other social media sites. We are excited and ready to include the iPad in our arsenal of tools.  I  urge software developers to develop real estate specific software for the iPad so we can use this device to it’s full potential.  I want the ability to have a more dynamic listing presentation in my pocket / briefcase and to promote my listings with interactive software to buyers using the iPad.

Are you ready for the iPad, how do you think it will change the way you do business?