Things in Canmore have been very busy this year and this summer, despite it slowing down a bit in other areas of the province.
Jan 1 – Oct 4, 2016
Average Sale price $605,000
Jan 1 – Oct 4, 2015
Average Sale price $611,000
Our sales numbers are quite high this year compared to 2015, which was quite busy also. The pricing is almost equal to last year.
Our major driving factors this year are active retirees or those planning on retiring in the next 3-7 years. They are buying a variety of differnt styles of homes. Some are looking for a bigger home, to fit kids and grandkids visiting. Others are looking for a smaller, lock up-and-go condos, so they can travel and snowbird. All are cognizant of the potential mobility restrictions in the future and are looking for minimal stairs or elevators, regardless that they plan to remain very physically active for many years. Retirees in Canmore are not your typical retiree, as they plan to ski, hike, bike and enjoy the outdoors long into retirement. Theseretirees are coming from all over Canada, though Alberta, BC and Ontario are bringing the majority of the buyers.
We are also seeing first time home buyers as the rental market is still tight in Canmore and for many renters, buying seems a simpler choice compared to finding rentals is such a market.
We have not seen a lot of out-of-country buyers so far. There are some, but it is not a large driving market at this point. The summer tourist season was very busy this year with visiting Americans and it is likley we will start to see those tourists become buyers, as they have been exposed to the beauty of the area and the low Canadian dollar that would make Canmore real estate an excellent deal for those looking for a vacation home.
Vacation homes are still quite popular this year. These vacation home range from small 2 bedroom condos below $400,000 up to $2,000,000 + homes, and everything in between. Canmore as a weekend getaway is increasing in demand, despite the temporary slow down in other areas of the province. Most of the vacation home are still being purchased by Albertans.
There is some new development of townhomes in the area, though limited in numbers. There has also been a release of a number of building lots in Three Sisters which we haven’t seen in a number of years. Even with this development, we could still use a bit more inventory in the area to meet current demand.
Conclusion: As the boomers are just starting to retire and will continue to do so for the next decade or so, the demand in Canmore is expected to continue to grow over the years, compounded with the finite foot print of remaining land, people seem keen to get in now.
Every day I receive inquiries from buyers looking for a home in Canmore and unknowingly request information on properties that they are not allowed to live in. It is frustrating and confusing for purchasers and here, I will shed some light on what a hotel condo is, what the different zonings are in Canmore, and what type of property you might want to be looking for.
Everything you need to know in less than 3 minutes!
Canmore, AB has long been sought after for both the abundant recreational opportunities, and it’s relaxed, small town living alike. Jessica Stoner has been a REALTOR in the BowValley for 17 years, and the Broker/Owner of RE/MAX Alpine Realty for 10 of them. Selling real estate in Canmore, Banff, and surrounding communities has been and integral part of her mountain lifestyle.
She helps her out-of-town clients to buy and sell their vacation properties, as well as her Canmore neighbours move within the valley. Working with condominium, town houses and single family homes alike, Jessica shares her knowledge and expertise to ensure a smooth, stress-free transaction every time.
As a proud member of the Calgary Real Estate Board, Jessica posts her clients properties on the MLS, as well as utilizing her technology savvy to market through many other online sites, tools and social media.
Jessica thoroughly enjoys her business as real estate agent, and the many friends she has met, initially as clients. Please contact Jessica to inquire about buying or selling property in the Canmore area or have your friends and acquaintances contact her for their Canmore real estate needs.