Canmore Real Estate Newsletter April 2020

Wishing You Health and Safety Market Update

I wanted to reach out to wish you all the best during this challenging and unprecedented time. We are all doing what we can to help each other during this worldwide pandemic.

While we all must and will do our part through social distancing and self isolating, I wanted to ensure you that I am here to help in any way I can.

I am amazed everyday with the great and positive stories coming from close at home here in the Bow Valley to worldwide. As it is easy to get lost in the news stories, it is important to see the good that is shining through as well.

I also wanted to reach out to give my biggest gratitude to all the amazing people, such as our doctors, nurses, all medical staff, along with the work force servicing us at the local grocery stores and everyone who are keeping our supply lines flowing. The Bow Valley is showing again why it is such a blessing for us to live here with some of the most amazing people helping our community move through this.

In some ways it feels like we were going about our lives normally days ago, but in others it feels much longer. I  hope you and your loved ones are healthy and are staying healthy.

I want to keep you all updated on all the ongoing protocols as this situation is constantly changing and I want to try to keep you as updated as I can.

We in the real estate community have stopped all open houses and have been working from our homes for the past few weeks. Marketing through virtual tours, floorplans and using platforms like Zoom and FaceTime is allowing many buyers a chance to view listings safely at home.

The real estate market, as you would expect, has slowed down, however, I continue to work hard for my clients that need to buy or sell. The monthly statistics for March showed a reduction in number of sales of 42% yet the prices remaining stable as many of these sales happened before the effect of COVID-19. We are now seeing many buyers putting purchases on hold but are still helping some buyers and sellers continue through with their purchases and sales.

With the uncertainty we are facing, many sellers and buyers are wondering what the future will bring for the economy including real estate, and although we do not know how the future will unfold we do know that things will begin to normalize at some point in what we hope is, as short a term as possible.

We do expect that in the next few months we will not see much in terms of sales and those sales may reflect a reduction in average sale prices as more of the sales might be in the entry and mid level market. When things begin to normalize, we expect the extremely low interest rates and a build up of demand should drive a rebound in the activity level. We may even see more of the world being able to work from home full time and choose where they want to live. Should that take place Canmore is set to draw many of those buyers with all the amazing aspects to our mountain lifestyle!

In closing, please remember I am here to help in any way I can. Please feel free to reach out to me via phone, email, text or Facebook, or let me know and we can set up a video meeting. 

Be safe and I look forward to connecting to you all very soon.