Banff
Banff is a town located in the province of Alberta, Canada. People prefer to live in the city because of its many wonderful attractions. It has many mountains adjacent to the townsite. The most popular one is Mount Rundle. It has many more majestic mountains, colored lakes, and endless outdoor adventures.
Because of all these wonderful attractions, Canadian people love to move to Banff. Moreover, it is not an expensive place to live. The average range in the city is $1200 per month. If you want to buy your own house then the real estate market of the city is also very affordable.
Market Condition of Banff
The real estate market of Banff is growing day by day. But to secure a house in Banff National Park, you must have to be eligible for some requirements.
- A person who works in Banff National Park and whose existence is necessary for day-to-day operation and maintenance of the park.
- A retired employee who has a residence at National Park.
- A person who is a student in full-time attendance at an institution which is situated in the National Park.
- The one who is the lessee of the public lands in the park.
All these conditions define the market condition of Banff. You cannot buy a house for vacation in Banff. National Park not only provides you with wonderful job opportunities but also many amazing houses at affordable prices. The Banff National Park has wonderful educational institutions which will also offer their students many jobs at the end of their educational careers.
The new real estate housing statistics show that there are about 23 active housing properties for sale in residential neighborhoods of the city. The highest-priced property is $5,550,000.
Is the housing market of Banff affordable?
According to current real estate statistics, Banff is a very affordable city to live in. The average sold price of the city is just $408K. Change in the average sold price is affected by two factors:
- Considering that the mix of houses is less stable, all the houses are being sold out for less or more than the last period.
- The number of houses sold out has also changed. The meaning of this is that the mix of houses sold out has now shifted from the majority of the higher-priced houses to that of lower ones. Only 15 average days are required by Banff to sell a house.
Houses range from $100k to $300k for sale in Banff
The community property types of the city are single-family attached and detached houses, townhomes, and condominiums. All of these have different housing prices. The most affordable ones are condominiums.
Many houses are available for sale in this range. For example, a two-bedroom and 1 bath apartment with a total covering an area of 822 sq.ft is available for sale at 415 Beaver Street, Banff, AB. The cost of this house is only $300K with all the basic facilities. You can find many such houses in different parts of town.
