Here is Canmore market update for the first 9 months of 2011. As of September 30, 2011 there have been 216 total sales, as compared to 267 sales in 2010. That is a decrease of 19%. The average sale price across the board is $582,407 for 2011 to date, the average sale price at this point in 2010 was $600,962. This is a 3% reduction in the price from last year.
To date this year, the average days a home is on the market before it sells is 99 days. This is a significant increase from last year, when the average days on market was 86 days after the first 3 quarters. Sellers should budget for this length of time to sell a home.
All in all, Canmore is still a correcting market. Buyers have plenty of choices and Sellers must price competitively if they wish to sell in a timely manner. This Fall we are seeing plenty of activity. With the mild weather, buyers are out and about and we are seeing an increase in sales activity as well.
