The leaves are starting to turn, children are back in school, and with that we know that Fall has arrived here in Canmore! Despite our recent run of less than ideal weather, Canmore / Banff Fall activities including biking, hiking and more are in full swing, and while it is still a little while away, cooler temperatures in the air mean that the winter season is just around the corner. If you are looking for a place for your children to learn how to be great skiers and do some racing when they get bigger, registration is open for the Bow Valley Quikies and Banff Alpine Racers upcoming year. For more details you can go to http://barbvq.com/
The Canmore Real Estate Market has remained quite stable as many buyers continue to be drawn to Canmore to live full or part time. There has been much in the media lately about the Alberta economy, and while we have been hearing of significant changes in other markets, our local market seems to be more sheltered from these effects. The local economy has been strong with tourism in the Bow Valley experiencing a very good year. With the change in the Canadian dollar, Canadians are staying home for their vacationing and Americans are starting to come back,as the varied licence plates we saw around town this summer would attest. We would expect that we may see the return of some American buyers should the Canadian dollar stay at the current rate.
Our median price of single family homes has increased year over year for the month of August, but we saw some pull back over the same period in the condo market. Our total market listing inventory is up 8% over last year but still quite balanced at 265 listings which is approximately half of what our highest inventory was, and double that of our lowest volume for the past 13 years in which we have been keeping statistics. The total number of sales for the first 8 months of the year are down a little, with 23% less sales over the same time period from 2014. Having said this, we are still seeing a lack of inventory in some market segments, and many buyers are just waiting for the right property to hit the market to buy.
