The Canmore Real Estate Market in the first half of 2014
- trends and developments - 



The Canmore Real Estate Market in 2014 has been very vibrant and since 2012, which saw the lowest average sales prices after the boom with its high prices in 2007, prices have been on the rise again. Despite increasing prices demand is high and properties sell faster in the average than during the last five years. A still low inventory (just over 200 listings) increases the pressure and drives prices. Canmore is still a sellers’ market.

 
 

Sales Numbers and –time:

Whilst the number of sales in Canmore increased from 2012 to 2013 from 371 to 488 by ca. 30%, there was no increase of sales numbers during the first half of 2014 as compared to the first 6 months of 2013 (ca. 250).

The strongest sales areas in both years were the $300-400,000 range and the over $800,000 range.

Remarkable is the decrease of “days on market” time (the time from when a property is listed until...

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Mortgage insurance premiums are going up in Canada, but the rise is not expected to alter the dynamics in the real estate market in a material way. Canada Mortgage and Housing Corp. (CMHC) made the announcement last Friday after completing its annual review of insurance products and capital requirements.

Mortgage insurance premiums for homes or rental properties that comprise one to four units will increase by about 15 percent on average across the entire range of loan-to-value (LTV) ratios.

For example, for LTV ratios of up to 60 percent, the premium rises 10 percent; for LTV ratios of up to 95 percent, the premium rises 40 percent.

The LTV ratio is the amount of the mortgage loan as a percentage of the appraised value of the property, and is used by lenders to assess their lending risk before approving a mortgage.

A higher ratio is generally seen as higher risk; therefore, if the mortgage is approved, the loan will typically be given at a higher interest rate.

In Canada, mortgage insurance...

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This is the open house at Spring Creek at Canmore that i will be holding tomorrow afternoon (21.02.2014). It is a bright corner unit with beautiful interiors! 

Spring Creek Open House 
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While interest rates are still low, real estate prices in Canmore have been increasing and further price increases are expected for this year. It seems, that potential sellers are holding back - there are just over 160 properties listed; the market is shifting from a buyer's to a seller's market.




Mortgage Rates, 04.02.2014
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Bank of Canada Sees Evidence of Soft Landing in Housing Market

Thu, 01/23/2014 - 15:45

The Bank of Canada announced on January 22nd 2014 that it was keeping its trend-setting overnight lending rate at 1 per cent, where it has been held since September 2010.

Since the Bank’s last announcement in early December, inflation in Canada has moved even further below the Bank’s 2 per cent target. Moreover, the Bank indicated it is now expected to remain lower for even longer and not return to target for “about two years.”

The rising risk of lower inflation has been a theme since last fall. Since then, the Bank’s warnings about how rates will eventually rise have given way to a more neutral stance on where interest rates are headed next.

Low and still falling inflation could be used to justify an interest rate cut, but the Bank remains concerned about high household indebtedness and the potential for lower interest rates to fuel further debt accumulation.

In its...

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Canadian home sales moderate further in December

Wed, 01/15/2014 - 09:00

Ottawa, ON, January 15, 2014 - According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity posted its third consecutive month-over-month decline in December 2013.

Highlights:

  • National home sales fell 1.8% from November to December.
  • Actual (not seasonally adjusted) activity stood 12.9% above weak December 2012 levels.
  • The number of newly listed homes dropped 4.3% from November to December.
  • The Canadian housing market remains in balanced territory.
  • The national average sale price rose 10.4% on a year-over-year basis in December.
  • The MLS® Home Price Index (HPI) rose 4.3% year-over-year in December.

The number of home sales processed through the MLS® Systems of Canadian real estate Boards and Associations and other co-operative listing systems was down 1.8 per cent on a month-over-month basis in December 2013, marking the third straight monthly decline....

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