Real Estate Newsletters

Current Canmore Market Conditions

The market for 2010 has improved on single family homes and residential condos that you can live in full time but on recreational properties that cannot be lived in full time we are still faced with a massive oversupply brought on by frenzied building in 2006 and 2007. In fact currently out of the 365 active Canmore Mls listings 66 are recreational condos. This number does not reflect Builders inventory that is unsold either. Past sales of recreational properties are not encouraging ether as only 7 recreational condos sold in 2008 and only 9 in 2009.

The almost insurmountable problem we are facing with selling recreational condos is the lack of financing available. None of the major banks will finance them and we are still striving to find any financing options. The market will be stressed on recreational property and may be a buying opportunity in the future.

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