CANMORE MARKET SYNOPSIS

With a continued high listing inventory, it is a great time to be a buyer. 

Currently we are sitting with a listing inventory between 450 and 500 properties, over 2.5 times the number we had at the same time in 2007.  The number of sales per quarter has continued to be steady but at a reduced number since the 3rd quarter of 2007.

Comparing the median sales prices in the second quarter of 2008 to that of the second quarter of 2007 we see a 10% decrease in prices of Single Family Homes and a 3.5% decrease in Condo’s.  

The latest press release by Royal LePage for Calgary states that “Calgary’s real estate market took a collective exhale during what is typically one of the market’s busiest periods.  Signs of a market in the latter stages of a hurried boom are evident in Calgary, primarily in the city’s inventory surplus; inventory levels throughout the city will soon return to healthier levels as more speculators move east in search of new real estate development opportunities, while principle-asset homeowners hold onto their existing property until market conditions once again pick-up steam.”

Oh by the way......I am never too busy for your referrals.