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Jake Pryor
RE/MAX Alpine Realty
#100, 709 Main Street, Canmore, Alberta
P: 403-688-5253   F: 403-678-6524   Email
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Monday, February 22, 2010 - Low inventory on the way?

Low real estate inventory concerns developers and realtors at February BOWDA meeting. February 11th saw the monthly meeting of the Bow Valley Builders and Developers Association (BOWDA) at Silvertip Golf Resort. The topic of discussion was a historic review of real estate sales up to the end of 2009. This follows the January meeting where Mayor Ron Casey reviewed development permits issues by the Town of Canmore over a similar period.

For several years through the 2003-2007 period Canmore has seen between 350-400+ new units built each year to meet buyer demand. In 2009, following the financial market turmoil, there were just 19 new units built. Developers and realtors shared their concerns over what this means for low inventory 2-3 years from now given that development in Canmore has slowed so dramatically, but demand continues to be demonstrated in the marketplace. New homes cannot be built overnight to accommodate a continuing demand from buyers.

Inventory in early 2009 was as high as 440 listings, in February 2010 they are fluctuating between 290 and 320 as new 'spring' listings are posted. Jan 1 to Feb 22 has seen a healthy 48 properties sold.

Currently there is still good choice in Canmore, and interest rates remain low. If you would like to capitalize on the market conditions, timing is everything! For more info, call Jake at 403-688-5253.

 

posted in General at Mon, 22 Feb 2010 18:02:36 +0000



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