Canmore Market Staying Strong
As we move through February we are continuing to see a very active market. Our listing inventory is staying quite low with 143 listing which is just slightly below that of February 2017. Keep in mind the lowest our listing inventory has been in the last 16 years is 111 active listing which was January 2004. At that time, we did not have the Hotel condos segment of our market which now accounts for 14% of our active listing inventory.
Sales in January were up 17% year over year from 2017 and that increase was from 5 extra sales in the hotel condo market which is continuing to show strong sales and revenue numbers with the higher room night rates and lower occupancy. Depending on the properties we have started to see some higher rates of return of these properties both for those owners using the management onsite ~5 to 7% and those self managing them. Please call us for more details on these strong rates of return keeping in mind that financing is still very challenging for this use but there are a few financing options we can talk about.
Sales in January were up 17% year over year from 2017 and that increase was from 5 extra sales in the hotel condo market which is continuing to show strong sales and revenue numbers with the higher room night rates and lower occupancy. Depending on the properties we have started to see some higher rates of return of these properties both for those owners using the management onsite ~5 to 7% and those self managing them. Please call us for more details on these strong rates of return keeping in mind that financing is still very challenging for this use but there are a few financing options we can talk about.
