|
FEBRUARY |
Median |
JANUARY |
| Sale | Prices |
|
| 2008 | 2007 | 2008 |
Single Family Stats | $639,900 | $630,000 | $925,000 |
Units Sold | 5 | 11 | 7 |
Days on Market | 29 | 80 | 167 |
+/- over last year/month |
| + 0.02% | - 30.82 % |
|
|
|
|
Non single family | $410,000 | $469,000 | $450,000 |
Units Sold | 15 | 40 | 10 |
Days on Market | 60 | 28 | 78 |
+/- over last year/month |
| - 12.58 % | -0.09 % |
The data above shows a very interesting past month for real estate sales in Canmore. Actually this is the first time I can remember where we see negative percentages all over the chart.
While activity is picking up this past week, as a whole the month of February had a total of 31 fewer sales than the same month a year ago. Single family sales are down from 11 sales to 5 and non single family dropped dramatically from 40 sales a year ago to just 15 this February.
In the single family market we also see that the higher priced homes were not selling in February as was the case in January as the median selling price dropped from $925,000 to just under $640,000. The non single family market was not nearly as evident, but we still see a drop of almost 10% compared to January.
The number of properties on the market or for sale has almost doubled compared to the same time last year. This allows the buyer to have more choices, and the need to make a quick decision is taken away. The US real estate market in several "resort" areas has been hit hard by the sub prime mortgage recalls.
All in all we have a buyer's market. Sellers need not panic about the value of their Canmore assets; however they will have to price their properties very competitively if they truly want to sell in these current market conditions. This is a great time to give me a call and come to Canmore and find your new property.
If you would like to be kept up to date on the value of your Canmore investment, or just wanting to know what is happening in a particular area of town - just send me an email or give me a call.
Median price is deemed to be a more accurate market indicator than average price because of steep price fluctuations that sometime exist within market segments and thus can distort calculated averages.
For More Information Regarding The Market In Canmore Contact Bob at Bob@BobAishford.com or visit www.BobAishford.com
Helping people is what Bob is all about. A professional that will keep you informed so you can make sound decisions. Call Bob toll free at (888) 404-3471.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
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Hello Bob
I'm inviting you to join an active|rain group of your fellow Canadian REALTORS® , the Canada, eh group - http://activerain.com/groups/Canada.
And please include any of your posts with a Canadian angle by also posting them to the group.
(no properties for sale please, listings should be posted to Localism.com)
When I login to ActiveRain.com I always check the Canada, eh group first to read the Canadian posts because Canadian bloggers are so much easier to find on the group home page. I'm looking forward to reading your posts there.
Also, one of our Canadian members wrote an informative post on how to get started her on active|rain - http://activerain.com/blogsview/174164/A-Post-For-Tim
And if you decide to join the Canadians - Welcome!
Larry, group founder and moderator