Spring has arrived in Canmore and Banff, and we continue to see a lot of domestic travellers to the area. If all the projections are correct, the summer of 2021 could see the most visitors to the valley to-date. This is great news for those in the short-term rental market, and wonderful for the local business owners.
2020 was known as the year of the ‘Great Reshuffling,’ where we saw a large number of people relocate from cities to living and working from home in communities like ours. Working from home has allowed many to live where they play, providing a promising improvement to the work-life balance – there are some upsides to the pandemic.
Many buyers are looking to move to the world-renowned areas of Canmore and Banff– and who can blame them?! We are seeing exciting new projects with local developers that are selling out the same day they’re released. For those properties that are already built, we have seen them selling at record speed. This is a very exciting time for sellers, and what can be seen as a challenging time for buyers. The local real estate market is busy, and we don’t anticipate it to slow down any time soon.
With the market being as hot as it is, there are factors that complicate buying and selling at this time. This is where we provide our clients with exceptional value. Mary-Anne and Clare have a combined 40 years in the local market, and provide their clients with superior expertise. We value our clients and take the time to provide the education needed to receive the best value in their real estate transaction – on both the selling and purchasing side of the deals.
If you’ve been following real estate trends, you’ve likely heard the mention of a real estate bubble. Although we don’t have any way of knowing what will happen in the future – the trends we are seeing show signs of longevity. The Canmore market attracts buyers that are both local, regional to Alberta and Canada as well as international. This makes our market unique. This coupled with the limited amount of property that can be developed next to a national park, we anticipate that the market will remain strong for the foreseeable future.
How we’re doing business
We continue to see great interest rates which helps to sustain a strong housing market. Spring is historically the busiest time of year in real estate, and this year is looking to be on track. The pandemic has changed the way we live and how we do business. Keeping our clients safe is our top priority. To help support this, our team is doing virtual tours, hosting virtual client meetings and taking all precautions when we have in-person home tours.
If you’re interested in more information about buying or selling in Canmore, please reach out to Mary-Anne and Clare. Together they will provide you exceptional insights and strategies to ensure that you’re a happy client.