Canmore Real Estate Market update – January 2016
Despite Canmore Real Estate sales volume for 2015 being 1.2% greater than the 13 year average, we did see a 15% drop in volume than the sales volume of 2013 and 2014. Even with this drop in volume, however, sales prices are remaining stable, and even seeing some slight price appreciation in some
market segments year over year. In fact, there were a number of market segments that saw an increase in price in 2015 in both average and median sales prices, such as single family homes and condominiums.
The active inventory is very stable with very little change seen year over year, but we do expect to see a typical increase in inventory through the next 4 months. Interest rates and a weak Canadian dollar will continue to help support the Canmore and Banff Real Estate markets. With strong tourism allowing local buyers to step in at the more affordable and mid-range price points, those market segments appear to see continued strength even with less oil and gas second home buyers. We also continue to see new retiring Baby Boomer buyers entering the market looking to Canmore as the ideal location for their active retirement years.
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What’s Happening in Canmore
Throughout Banff and Lake Louise, Jan. 15th – Feb. 7th, 2016 This fantastic annual festival encompasses several events over a month long period, with events to satisfy everyone in the family! Whether it be the Ice Magic Festival in Lake Louise, the Big Bear ski and rail event, or Banff’s Big Taste, you couldn’t have a more Canadian event than this! Events are both mid-week and weekend (see above links to find out more on each event), and many are free to attend, so don’t miss out on your chance to enjoy the best winter can offer in the Rockies!
FIS Ski Cross World Cup 2016
Nakiska Ski Resort, Jan. 22-23, 2016
The world’s best ski cross athletes are coming together at Nakiska Ski Resort this January for the kick off of the FIS World Cup season! The 4th Annual Audi FIS Nakiska Ski Cross is the only World Cup event in Canada, and will feature 130 of the best skiers in the world competing for $40,000 in prize money, if you would like to learn more about this event, head to http://alpinecanada.org.
Ski Hills Are Now Open!
All of our local mountains have opened for the 2015-16 Season! With some recent help from the weather, the local hills are primed and ready for a fantastic year, be sure to visit each mountain’s website for the latest conditions, events, and more!
Mt. Norquay – www.winter.banffnorquay.com
Sunshine Village – www.sunshine-village.net
Lake Louise – www.skilouise.com
Nakisa – www.skinakiska.com