Jessica Stoner, RE/MAX Real Estate Agent

Find Your Place In Canmore Alberta

Test Livestream Video and Chat


FAQ’s During COVID-19 Canmore Real Estate April 2, 2020

Q-Is is still acceptable to list my home or view homes for sale during this time of Covid-19?

A- Yes, Real Estate Services are deemed Essential Services by the Province of Alberta. Purchasing a home or selling ones home is often a necessity for many different reasons, and we continue our services to ensure you can move forward with your real estate needs at this time.

 

Q-Is it safe to list my home?

A– We are working with sellers to determine protocols for the listing of your home, and how to safely have people access your home. 

 

Q-What protocols are in place for a showing?

A- At the minimum, we ask:

Buyers-

-virtual showings to be complete if possible before in person showing

-buyers do not touch anything in home

-buyers and agents travel in separate vehicles

-only agents touch door knobs and light switches if necessary, and nothing else

-children not to accompany parents during showing. (Parents may need to view one at a time, if children are in tow)

-only essential individuals to a transaction to view home. (No family members or other individuals to accompany showings unless necessary) 

-hand sanitizing or washing before and after showings for all parties

-ask buyers if they have symptoms, have traveled in past 2 weeks or been in contact with someone with Covid-19 in past 2 weeks and ask they please delay showing or agree to a virtual showing instead. 

 

Sellers-

-immediately tell us if anyone in the household has symptoms or have traveled in the past 2 weeks. 

-before showings, leave lights on and doors open so less contact with home is necessary

-sanitize as much of the home as possible

-vacate home if possible during showings

Buyers and Sellers may have additional requests for safety protocols and we will do everything we can to accommodate buyers and sellers requests. 

 

Q-Are professionals such as home photographers and home inspectors working during this time? 

A-Some are choosing to decline work now, and others are still providing services, with safety protocols in place. We try to accommodate all service providers requests for safety protocols as best we can. 

 

Q-Are lawyers working this time to close real estate transactions?

A-some lawyers are temporarily declining new business until the social distancing requirement is lifted. Most lawyers continue to work with additional safety protocols in place. Transactions can take longer to complete as lawyers struggle with the legal requirements to meet with their clients in person to sign land transfer documents. The possibility of one party of a transaction requiring self isolation, can delay signing of documents by two weeks. Delays during this time should be anticipated and expected.

 

Q-Is Land Titles offices in Alberta operating during this time?

A-Yes Land Titles offices in Alberta continue to operate. There is a slight delay in processing times, but title transfer operations continue.

 

Q-What happens if a home is tenanted and we can’t evict as per new Provincial statement? 

A-There currently is a moratorium on new evictions issued to tenants due to nonpayment of rent in Alberta until after April 30, 2020. There is no change to the legal enforcement of the end of a lease or Notice to Vacate, legally issued to a tenant for reasons allowed under the Landlord Tenant Act. 

 

Q-What happens if a home I’m buying had someone in self isolation on closing date?

A-This situation is a possibility that all buyers and sellers during this time must be aware of. Every situation will have to be accessed and dealt with on an individual basis. Often buyers and sellers can agree and sign an amendment for a later closing date. All parties have to be aware that this could affect other sales and purchases associated with this transaction as well. Open and frequent communication with all parties, realtors and lawyers is the best way to find a workable solution.

*LIVE ONLINE EVENT*  Saturday March 28 10:00am MST

Question and Answer- Canmore Real Estate

I am inviting you to an online “Canmore Real Estate – Question and Answer Discussion”
This Saturday morning, March 28, 2020 10:00 MST.

You are welcome to ask questions about Canmore real estate, the market, or anything you feel might affect you. Owners, Sellers, Buyers and prospective Buyers are all welcome to take this chance to get some answers that might help determine the best course of action for you at this point in time.

We know these are tough times for everyone. Myself and my team, along with Mortgage Broker Greg Foss, will be answering your questions to the best of our ability.

We’ll share some past stats and patterns regarding real estate sale and prices after other market upsets. (Financial Crisis in 2008, Flooding in 2013, even how SARS affected us in 2003)
Greg can answer questions about the current interest rates, stress tests and mortgage approvals.

I am Jessica Stoner and have been a REALTOR in Canmore for 22 years and have been through markets both up and down. I know there are so many questions right now. I will do my best to answer them, if I can.

Take care, stay healthy and talk to you soon.
Jessica

“In the middle of difficulty lies opportunity”


― Albert Einstein

Coronavirus Update March 2020

Coronavirus, Recession Whispers, and Oil Prices, Oh My!

March 11, 2020

Hi there,

I’m Jessica Stoner, Realtor with RE/MAX Alpine Realty and the Jessica Stoner Real Estate Team in Canmore, AB. I have been a Realtor in Canmore for 22 years, and have witnessed past market highs and lows due to many factors we have been facing in recent days.

Myself and my team have received many calls from buyers and sellers alike over the past week or so, asking how these above items might affect the Canmore real estate market. We are sharing some information on the state of the market to help you make your buying and selling decisions.

Some sellers have engaged in price reductions and more flexible negotiations already, to try to sell before the market is affected. Likewise, we have had buyers put a hold on negotiations or putting in offers with the concern that they may overpay now, or are wanting to wait to see if there will be adjustments in the market in the next few months. However, this is a minor portion of the market at this time. Other buyers and sellers continue to list, negotiate, buy their properties with business as usual. However, many want to know how things will likely play out in the next few months.

The question is, “Will Canmore see a real estate market correction?”

Here is an overview of the current factors affecting the real estate market in the Bow Valley.

Oil Prices– Alberta’s economy is tied to the energy sector and any large price adjustment could potentially affect real estate markets in the province in general. However, Canmore tends to be somewhat isolated from the volatility of the oil industry, due to different factors that drive our market. Our community tends to be employed more in the tourist industry, and future retirees, which are a large part of our current buying market, are less likely to make buying decisions based on the current state of the gas industry.

Tourist Industry– Since we are a somewhat tourist based town, there are concerns that we will see less visitors due to COVID-19. Though this is likely true in some towns such as Banff and Jasper that attract more international visitors, Canmore tends to see more local visitors that make up our tourism. With more people avoiding planes and international travel, we are likely to see an increase in Albertans and other Canadians visiting the area, helping to keep our economy rolling along.

Stock Market– Everyone gets nervous seeing major volatility in the stock market. This could potentially lead to people wanting to put their retirement funds into something more solid, such as bricks and mortar real estate. This could be the purchase of a rental property, or the purchase of one’s future retirement home now.

Interest Rates – The recent cut to the already low interest rates, may spur new buying activity.

Coronavirus (COVID-19)- We have experienced real estate markets affected by all of the above factors from time to time in the past couple of decades, and the Canmore real estate market has always returned and continued to appreciate in value after a correction period.

A pandemic, such as COVID-19 is an usual factor to try to account for in real estate forecasts. Unfortunately, recommendations to the public to help minimize the unnecessary spread of the virus has led to great fear of the virus itself. Fear can slow markets down temporarily.

Conclusion:

While there will likely be some changes to buyers and sellers behaviour while trying to decide how these above factors will affect the Canmore Real Estate Market, ultimately, buyers and sellers will still have the same needs and desires relating to their real estate purchase and sales in Canmore. Though the volume and pricing of sales is still to be determined, Sellers will continue to sell and Buyers will continue to buy their homes, retirement homes and investment properties in Canmore.

Be safe out there and make decisions based on knowing that, this too, shall pass.

Feel free to contact Jessica Stoner and Team for more information on this update or the Canmore real estate market.

403-678-8006 , team@jessicastoner.ca , jessicastoner.ca

“In the middle of difficulty lies opportunity”

― Albert Einstein

November 2019 Market Update

The current market in the Bow Valley is active and healthy. The area is minimally affected by the oil and gas woes the rest of the provinces’ real estate markets are experiencing. 

For the last couple of years, the market in Canmore and the Bow Valley have been weighted in the seller’s favour, with high buyers demand and low inventory.

In the first week of November 2019 the market continues to be more balanced. There is still high buyers demand, but with increased inventory, buyers have some choice and less pressure to settle on a higher than market price offer.  Prices have plateaued over that past year or so, but the number of Days on the Market before a listing sells has decreased significantly. 

The entry level and mid-level price points still tend to sell in a timely manner. Some of the higher price points take a bit longer to sell and more conservative pricing tends to be effective. 

2019 YTD

Total Market Average: 

– Sale Price: $711, 080

– Days on  Market: 38

– 393 total sales

 

2018

Total Market Average:

– Sale Price: $710,858

– DoM: 65

– 478 Total Sales

 

Quick Market Update- October 2019

Good news for buyers in the Canmore area. We have more inventory than we have had in the past couple of years. This has created a more balanced market. The prices continue to appreciate, but at healthy single digit increases per year.  It is good time for buyers to buy with less chance of multiple offers.

 

2019
(Single Family Homes in Canmore)
76 Single family home sales 2019 January to October
Average sale price  1,165,000
Average list price  1,216,000
Average days on market 77
96% of asking price

 

2018
(Single Family Homes in Canmore)
68 Single family home sales 2018 January to October
Average sale price $1,109,000
Average list price $1,157,000
Average days on market 75
96% of asking price

Seminar April 6 2019

Seminar- April 6, 2019

Canmore Real Estate Market Update


Stay on top of the changes in the Canmore Real Estate Marketplace.

Learn:

  • What is happening in the current market
  • What does the future of Canmore real estate look like
  • How has the engery sectors issues affected Canmore real estate
  • Canmore sale price and sale volume stats
  • Who is buying in Canmore

OR For Instant Registration, TEXT the word register & your name to 587-600-6030

april 6 - free event

Market Update – March 2019

Full Year- 2018

 2018 Overview

 

 The Canmore real estate market was robust for much of 2018, until September.  September 2018 until December 2018, the market saw significant slow down in sales. This was reflectivee of the economy in general in Canada. January 2019 until March 2019, the market has picked up in activity again and is active and healthy.
The anticipated Olympic bid for Calgary and Canmore for 2026 Winter Games being voted down, though disappointing to some, has not seemed to affect the overall market in Canmore.  In addition, the energy sector slow down has not seemed to affect the Canmore to the same degree as the rest of Alberta.
The inventory of listings in Canmore remains low with 171 listings currently for sale. It is expected that there may be an increase of inventory in the Spring with a matching increase of buyers activity as well.
Future retirees and  Calgary professionals with an increased ability to telecommute for work are our main drivers of the buyers market at this time.
Vacation home buyers as well as investors purchasing hotel condos for short term rentals also continue to purchase in the area.
Buyers up and down sizing while remaining in town, make up a steady portion of the buyers market.
Overall, 2019 seems to be shaping up for another active, steady real estate market in Canmore.
______________________________________________________________________

 

October 2018-Canmore Real Estate Market Report

Demand continues to grow in the Canmore real estate market.  Mostly for future retirement purchases. Many buyers have the intention of using it as a recreational home in the mean time, but the main  driver to purchase is securing their future retirement home now before they are priced out of the market.
There is some increased new construction in the area that is helping ease the low inventory over the past few years.
The potential of an Olympic bid is on many peoples minds and though many realize it will likley increase market values in the area, it is not prompting buyers to purchase early. Buyers are still taking the time to find suitable homes before moving forward.
Multiple offers are still experienced in some sales.  The number of sales as well as the average number of Days on Market before a sale is very similar in the first 3/4 of 2017 and 2018.  The sale prices have increased for this time period in 2018 compared to the same time frame in 2017.
The market seems steady and a little more balanced now days.

Prices and Stats 

October 2018
Current Inventory : 185 listings. (Canmore, Harvie Heights and Deadmans Flats)
51- Single Family Homes
16- Half Duplexes
45- Townhouses
52- Apartment Units
12- Hotel Condos
9- Lots
The stats include Canmore and the two hamlets directly on each side of Canmore (Harvie Heights and Deadmans’s Flats)
First 3/4 of 2018
Single Family Homes                  Number of Sales 71,    Average Sale Price $1,116,000
Townhomes & Half Duplexes      Number of Sales 116,   Average Sale Price   $777,000
Apartments                                  Number of Sales 109 , Average Sale Price   $497,000
Hotel Condos                               Number of Sales 186,  Average Sale Price   $441,000
Average Days on Market   60
First 3/4 of 2017
Single Family Homes                  Number of Sales 72,    Average Sale Price $1,107,000
Townhomes & Half Duplexes      Number of Sales 152,   Average Sale Price   $729,000
Apartments                                  Number of Sales 110 ,  Average Sale Price   $462,000
Hotel Condos                              Number of Sales 185,  Average Sale Price  $406,000
Average Days on Market   58